RESOLUTION OF THE NATIONAL COMMISSION ON THE FINANCIAL MARKET OF THE REPUBLIC OF MOLDOVA

of April 3, 2009 No. 17/8

About approval of the Regulations on reorganization of savings and loan associations

In pursuance of provisions of Art. 46 of h (2) and Art. 47 of the Law 139-XVI of June 21, 2007 "About savings and loan associations" (The official monitor of the Republic of Moldova, 2007, No. 112-116, the Art. 506), based on provisions of Art. 1 of h (1), the Art. 3, Art. 4 of h (1) and h (2), Art. 8 of the item b), Art. 21 of h (1), Art. 22 of h (1) and h (the Law No. 192-XIV of November 12, 1998 "About the National commission on the financial market" (it is repeatedly published in the Official monitor of the Republic of Moldova, 2007, No. 117-126 BIS) the National commission on the financial market Decides 2):

Approve Regulations on reorganization of savings and loan associations it (is applied).

Appendix

to the Resolution of the National commission on the financial market No. 17/8 of April 3, 2009

Regulations about reorganization of savings and loan associations

CHAPTER I. GENERAL PROVISIONS

1. The regulations about reorganization of savings and loan associations (further - Regulations) establish rules, requirements and special procedures of reorganization of savings and loan associations.

2. These Regulations are applied to savings and loan associations, including to the central associations (daleeassotsiation) licensed according to the legislation.

3. Reorganization of associations can be performed by consolidation (merge or accession) or crushing (separation or allocation). Reorganization by means of transformation concerning associations is not allowed.

4. In these Regulations the following concepts are used:

1) prior consent to reorganization - the document issued by the National commission on the financial market (further - the National commission) in which the National commission expresses the consent to reorganization of associations/associations and approves the plan of the reorganization of associations/associations participating in reorganization;

2) association the assignor - association which as a result of reorganization transfers in full (in case of accession, merge or separation) or partially (in case of allocation) the rights and obligations to associations/associations to the legal successor, according to the transfer act and the consolidated balance / the separation balance sheet;

3) association the legal successor - association which as a result of reorganization accepts in full (in case of accession or merge) or partially (in case of separation or allocation) the rights and obligations of associations/associations of assignors, according to the transfer act and the consolidated balance / the separation balance sheet.

5. Reorganization of associations is performed only from the prior written consent of the National commission issued according to these Regulations.

6. In the course of reorganization of the right and obligation of members of association do not change.

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