LAW OF THE REPUBLIC OF MOLDOVA

of March 31, 2022 No. 79

About introduction of amendments to the Law on the small and medium companies No. 179/2016

The Parliament adopts this organic law.

Art. I. - In the Law on the small and medium companies No. 179/2016 (Official monitor of the Republic of Moldova, 2016, Art. No. 306-313, 651), with subsequent changes, to make the following changes:

1. In all text of the law of the word "Ministry of Economy and Infrastructure" shall be replaced with words "Ministry of Economics" in the corresponding case.

2. In article 3 to state the concept "financial guarantee on the credit" of the following edition:

"financial guarantee on the credit - the obligation to bank or non-bank credit institution undertaken by organization which manages funds of guaranteeing the credits, for the purpose of distribution of credit risk and ensuring sufficient pledge on the credits/loans granted the legal entities or physical persons who are engaged in economic activity;";

after the concept "financial guarantee on the credit" to add Article with the concept "guarantee of portfolio of the credits" of the following content:

"guarantee of credit portfolio - the obligation according to which the organization managing funds of guaranteeing the credits undertakes the credit risk connected with portfolio of the acceptable loans granted according to the agreement on cooperation signed with bank or non-bank credit institution;".

3. In Article 13:

part (to state 2) in the following edition:

"(2) the Purpose of Fund of guaranteeing is distribution of credit risk by guaranteeing the credits obtained by the small and medium companies from banks or from non-bank credit institutions.";

parts (3) and (to recognize 6) invalid.

4. Item b) parts (Article 15 to state 3) in the following edition:

"b) the guarantees provided by Fund of guaranteeing for the obtained credits;".

Art. II. - To the government in three-months time from the date of entry into force of this law to bring the regulations into accord with it.

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