LAW OF THE REPUBLIC OF MOLDOVA

of July 15, 2022 No. 209

About modification of some regulations

The Parliament adopts this organic law.

This law shifts the Directive 2015/2366/EU of the European Parliament and Council of November 25, 2015 about payment services in the domestic market making changes to Directives 2002/65/EC, 2009/110/EC and 2013/36/EC and Regulations (EU) No. 1093/2010 and canceling the Directive 2007/64/EU (the text concerns EEP) published in the Official magazine of the European Union by L 337 of December 23, 2015.

Art. I. - In the Law on National Bank of Moldova No. 548/1995 (repeated publication: The official monitor of the Republic of Moldova, 2015, Art. No. 297-300, 544), with subsequent changes to make the following changes:

1. Item f) parts (1) "regulates" articles 5 after the word to add with the word", monitorirut".

2. In part (Article 10 of the word "on the accounts of banks opened in National Bank." shall be replaced with words 2) "on the accounts of the subjects specified in part opened in National Bank (1).".

3. State Article 49-1 in the following edition:

"Article 49-1. Regulation, licensing, monitoring supervision of the infrastructures of the financial market operating in the Republic of Moldova

(The National Bank of Moldova regulates 1), licenses, exercises monitoring and supervision of infrastructures of the financial market, payment instruments and other components of infrastructures of the financial market in the Republic of Moldova which stable and effective functioning is essential to financial stability, realization of monetary management and increase in trust of society to implementation of cashless payments.

(2) For the purpose of regulation, licensing, implementation of monitoring and supervision of infrastructures of the financial market in the Republic of Moldova the National Bank of Moldova has the right:

a) accept the program documents and regulations establishing the principles and procedure for the organization of supervision and monitoring of infrastructures of the financial market, payment instruments and other components of the infrastructures of the financial market which are subject to supervision;

b) adopt the regulations establishing conditions and procedure for licensing, the organization, functioning and use of infrastructures of the financial market, payment instruments, other components of infrastructures of the financial market in the Republic of Moldova;

c) request and receive data and reports from operators (managing directors) and participants of infrastructures of the financial market;

d) exercise control of the organization and functioning of infrastructures of the financial market, of activities of operators (managing directors) and participants of infrastructures of the financial market;

e) apply remedial measures and sanctions against operators (managing) of infrastructures of the financial market.".

Art. II. - In 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:

1. In Article 5:

in Item 40) words "the cash-in terminal," to exclude;

add Article with Item 40-2) of the following content:

"40-2) Terminal of cash payment - the automated device allowing the payment service provider to receive and/or issue cash intended for implementation of payment service by the user of payment services and working in the autonomous mode without physical presence (participation) of the other person except the user of payment services who places and/or receives cash.".

2. In Article 254:

part (1) after words", not registered in accordance with the established procedure in the State Tax Administration)," to add with the words "use of the control and cash equipment without issue of the fiscal check / the fiscal document";

part (to recognize 8) invalid.

Art. III. - In the Law on currency control No. 62/2008 (repeated publication: The official monitor of the Republic of Moldova, 2016, Art. No. 423-429, 859), with subsequent changes to make the following changes:

1. In part (9) Article 4 of the word", except for the payment accounts in connection with release of electronic money" to exclude.

2. In part (6) Article 16 of the word" (except for the payment accounts in connection with release of electronic money)" to exclude.

Art. IV. - In article 293-2 of the Code of the Republic of Moldova about offenses No. 218/2008 (repeated publication: The official monitor of the Republic of Moldova, 2017, Art. No. 78-84, 100), with subsequent changes to make the following changes:

part disposition (1) after words "when availability of the license is obligatory", to add with the words "non-compliance with the requirements provided by part (1) Article 2-1, parts (1) and (2) Article 2-2 and part (1) article 2-3 of the Law on payment services and electronic money No. 114/2012,";

part disposition ("payment service provider" to add 4) after words with words "the subject performing activities, stipulated in Item 15) parts (2) article 2 of the Law on payment services and electronic money No. 114/2012,".

Art. V. - In the Law on payment services and electronic money No. 114/2012 (Official monitor of the Republic of Moldova, 2012, Art. No. 193-197, 661), with subsequent changes, to make the following changes:

1. In formula of harmonization of the word "transposes the Directive 2007/64/EU of the European Parliament and Council of November 13, 2007 about payment services in the domestic market making changes to Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and canceling the Directive 97/5/EU published in the Official magazine of the European Union by L 319 of December 5, 2007" shall be replaced with words "shifts the Directive 2015/2366/EU of the European Parliament and Council of November 25, 2015 about payment services in the domestic market making changes to directives 2002/65/EC, 2009/110/EC and 2013/36/EC and Regulations (EU) No. 1093/2010 and canceling the Directive 2007/64/EU published in the Official magazine of the European Union by L 337 of December 23, 2015".

2. In all text of the law:

the word "declaration" and the words "the declaration for obtaining" in any case to replace respectively with the word "statement" and the words "statement for issue" in the corresponding case, except for Item 4) parts (2) Articles 14, and in part (Article 108 of the word" or whose declaration for receipt of the license is rejected," shall be replaced with words 3) "or whose statement for licensing is rejected,";

the word "termination" in any case shall be replaced with words "termination by retroactive effect" in the corresponding case.

3. B to Article 1:

part (to state 1) in the following edition:

"(1) This law regulates activities of payment service providers for delivery of payment services and activities of issuers of electronic money for release of electronic money; conditions and procedure for licensing of payment societies, the societies issuing electronic money, and suppliers of post services as payment service providers and/or issuers of electronic money (further - suppliers of post services); mode of transparency of conditions of provision of payment services, release and redemption of electronic money; the rights and obligations of payment service providers and issuers of electronic money in the context of provision of services on professional basis; rights and obligations of users of payment services; prudential supervision of the payment societies, societies issuing electronic money and suppliers of post services, and also supervision of activities for provision of payment services and/or to release of electronic money by payment service providers and issuers of electronic money.";

in part (2) "single" to exclude the word.

4. B to Article 2:

part (to state 1) in the following edition:

"(1) Provisions of this law extend to the relations connected with activities for provision of payment services and also to the relations connected with activities for release of electronic money.";

add Article with part (1-1) following contents:

"(1-1) For enforcement of this law the National Bank of Moldova accepts program documents, regulations and individual acts, and also publishes explanatory and referral notes and documents.";

in part (2):

state the prolog in the following edition:

"Provisions of Chapters II, III, III-1, IV, V, VI, VII, VIII and IX are not applied:";

in Item 5) changes concern only the text in state language;

in Item 10) shall be replaced with words the words "at any moment" "at some point" and to add Item with words ", except for services in initiation of payment and services in informing on accounts;";

Items 11) to state 12) and 14) in the following edition:

"11) to the services provided on the basis of certain tools / devices including the monetary values which are stored on pre-paid tools with in advance particular purpose which can be used only in the limited way and which answer one of the following conditions:

a) allow the owner of the corresponding tool / device to receive the goods and/or services sold at retail only in rooms of the issuer of the tool/device or within limited network of sellers and/or service providers based on the direct trade agreement signed with the professional issuer of the tool/device;

b) can be used only for the receipt of limited range of goods and/or services which are in direct functional interdependence;

c) are valid only in the Republic of Moldova, are provided upon the demand of the private subject or the subject of the public sector and are regulated by body of the public power in the social or fiscal purposes for receipt of special goods or services from the suppliers having the trade agreement with the issuer of the tool/device;

12) to the payment transactions performed by suppliers of networks and service providers of electronic communications, provided in addition to services of electronic communications to the subscriber of network or service if the corresponding payment transactions are performed:

a) for the purpose of purchase of digital content and voice services, irrespective of the electronic device used for purchase or consumption of digital content, at the same time these services are invoiced in invoices on fee of network or electronic communications provided that the cost of any single payment transaction does not exceed 1000 lei, and also:

- if aggregate value of payment transactions for one individual subscriber does not exceed 6000 lei a month; or

- the subscriber pays previously the account opened at the supplier of networks or services of electronic communications, aggregate value of payment transactions does not exceed 6000 lei a month;

b) from the electronic device or with use of that are also invoiced in the invoice on fee of network or electronic communications within the charity performed by the charitable organizations registered according to the Charities act and sponsorship No. 1420/2002, or for acquisition of electronic tickets provided that the cost of any single payment transaction does not exceed 1000 lei and also if:

- aggregate value of payment transactions for one individual subscriber does not exceed 6000 lei a month; or

- the subscriber pays previously the account opened at the supplier of network or service of electronic communications, aggregate value of payment transactions does not exceed 6000 lei a month;";

"14) to the payment transactions and the accompanying services performed between parent entity and its branch or between branches of the same parent entity without intervention as the intermediary of other payment service provider except the company belonging to the same group;";

15) to add Item with the offer of the following content: "In that case information on all commission charges for cash withdrawal specified in Articles 35, of 38, 39 and 40, before removal is provided to the client and also in case of receipt of cash upon termination of transaction after removal.";

16) to declare Item invalid.

5. Add the law with Articles 2-1 - 2-4 following of content:

"Article 2-1. The procedure of the notification prior to activities

(1) Persons intending to perform any of the types of activity falling under provisions of the Items 10)-12) and 15) of part (2) Articles 2, begin activities only after the notification of National Bank of Moldova on initiation of the related activity.

(2) For accomplishment of provisions of part (1) the corresponding persons send to National Bank of Moldova the notification containing information on the name of person, the address of the place of the stay/residence, and also the detailed description of the relevant documents and data which are subject to provision of services with appendix and specifying of the exception provided in subitems of 10)-12) or 15) of part (2) 2, based on which activities are supposed to perform Articles.

(3) If from the provided information it is determined that person intends to perform other activities, except specified and subject to licensing, or the activities which are subject to licensing the National Bank of Moldova in reasonable time informs on it person, and in case of need licensing of the related activity informs also the corresponding stating agent.

(4) the List of persons whose activities fall under action of provisions of the Items 10)-12) and 15) parts (2) Articles 2, it is published in the register which conducts National Bank of Moldova. The register includes information on the name of person, the address and exception based on which the related activity is performed.

(5) If persons specified in part (1) this Article, the types of activity specified in the Items 10)-12) and 15) to part perform (2) Articles 2, without prior notice of National Bank of Moldova, those are subject to the tort liability according to part (1) article 293-2 of the Code about offenses No. 218/2008.

Article 2-2. Implementation of activities and the notification in case of the payment services falling under exception

(1) Persons performing any of the types of activity specified in subitems and) and/or b) Item 11) parts (2) Articles 2, transfer to National Bank of Moldova to 60-day time after completion of the accounting period the notification containing the documents and data proving that activities fall under action of provisions of subitems and) and/or b) Item 11) of part (2) Articles 2, and also that the total amount of the payment transactions performed for the accounting period does not exceed limit in 20000000 lei.

(2) Persons performing any of the types of activity specified in subitems and) and/or b) Item 11) parts (2) Articles 2, without delay notify National Bank of Moldova according to the requirements and procedures established by its regulations if the total amount of the payment transactions performed before completion of the accounting period exceeds the limiting amount of 20000000 lei.

(The National Bank of Moldova considers 3) according to the requirements and procedures established by its regulations within 30 working days from the date of receipt of the notification provided in parts (1) or (2) this Article whether activities of the subject performing any of the types of activity specified in subitems can and) and/or b) Item 11) parts (2) Articles 2, to proceed only on condition of licensing or to proceed as the activities which are not subject to licensing. The National Bank of Moldova tells the opinion to person, and also if necessary the body responsible for establishment and assignment of punishment for the acts provided by part (1) article 293-2 of the Code about offenses No. 218/2008.

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