LAW OF THE REPUBLIC OF MOLDOVA

of February 27, 2020 No. 23

About modification of some legal acts

The Parliament adopts this organic law.

Art. I. - In Item 1 of article 7-1 of the Law on entrepreneurship and the companies No. 845/1992 (Monitor of Parliament of the Republic of Moldova, 1994, No. 2, Art. 33), with subsequent changes, shall be replaced with words words of "the microfinancial organizations" "non-bank credit institutions".

Art. II. - In article 31 of the Tax Code No. 1163/1997 (repeated publication: The official monitor of the Republic of Moldova, special release of February 8, 2007), with subsequent changes to make the following changes:

in part (2) word "for the microfinancial organizations and persons performing activities for financial leasing", shall be replaced with words "for non-bank credit institutions,";

part (to state 4) in the following edition:

"(4) the deduction of the reserves intended for covering of possible losses from non-return of the non-bank credits and default on interest payment on them and for covering of the debt obligations connected with not recovery of leasing payments and default on interest payment on them within the reserves calculated according to regulations of the National commission on the financial market is allowed to Non-bank credit institutions.".

Art. III. - In article 6 of the Law on the National commission on the financial market No. 192/1998 (repeated publication: The official monitor of the Republic of Moldova, 2007, No. 117-126 BIS), with subsequent changes to make the following changes:

Item k) parts (to declare 1) invalid.

add Article with part (9) the following content:

"(9) the Penalties added according to the sanctions inflicted by the National commission according to the legislation are transferred into the government budget.".

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