LAW OF THE REPUBLIC OF MOLDOVA

of October 27, 2022 No. 297

About introduction of amendments to the Law on non-bank credit institutions No. 1/2018

The Parliament adopts this organic law.

Art. I. - In the Law on non-bank credit institutions No. 1/2018 (Official monitor of the Republic of Moldova, 2018, Art. No. 108-112, 200), with subsequent changes, to make the following changes:

1. In part (Article 11 the word "create" shall be replaced with words "create / liquidate" 4).

2. In Article 12:

part (to add 3) with Item e) the following content:

"e) held position of the administrator and/or at least 50% of the authorized capital or voting powers of non-bank credit institution which was excluded from the Register of the authorized non-bank credit institutions according to Item b provisions) parts were owners with the property right or control (2) Article 20.";

add Article with parts (3-1) and (3-2) following of content:

"(3-1) Member of executive body, the head of department / auxiliary office of non-bank credit institution shall correspond to the following criteria:

a) qualification - availability of the higher education in the field of economy, the right or the exact sciences (including with specialization in the field of financial accounting, marketing and logistics, business and management, finance and banking, world economy and the international economic relations, statistics and economic forecasting, cybernetics and information science, merchandizing and trade, physics, mathematics, engineering);

b) experience - availability at least two-year work experience in financial and economic area or area of the right.

(3-2) If parts (3-1), but experience which it has exceeds shown to stipulated in Item b) speak rapidly person designated on any of the positions specified in part (3-1), has the higher education in areas, excellent from specified in Item and) (to 3-1) experience of the requirement at least for two years, it is considered that such person conforms to requirements imposed to qualification.".

3. In Article 20:

to state the name of Article in the following edition:

"Article 20. Suspension/renewal of activities and exception of the Register";

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