Name of the Republic of Moldova

DETERMINATION OF THE CONSTITUTIONAL COURT OF THE REPUBLIC OF MOLDOVA

of September 10, 2012 No. 24a

According to the address about control of constitutionality of the h. (7) Art. 38 of the Law on financial institutions No. 550-XIII of July 21, 1995 (the Address No. 24a/2012)

Constitutional court in structure:

Valeria Shterbets, chairman,

To Dumitr Pulbere, judge-speaker,

Victor Puskas,

Elena Safaleru, judges,

with the assistance of the court clerk Tatyana Berladyan,

in view of the address provided and registered on July 13, 2012

having considered previously specified address,

considering acts and case papers,

having held meeting behind closed doors,

takes out the following determination:

Actual circumstances

On July 13, 2012 the deputy of Parliament Sergey Syrbu brought into the Constitutional court request about control of constitutionality of the h. (7) Art. 38 of the Law on financial institutions No. 550-XIII of July 21, 1995.

Part (7) Art. 38 of the Law on financial institutions provides appeal conditions in degree of jurisdiction of the measures and sanctions applied by National Bank of Moldova.

A. Address bases

The address bases stated by the author are as follows.

Part (7) Art. 38 of the Law on financial institutions provides that the measures and sanctions applied by National Bank can be appealed in competent degree of jurisdiction. In the legal procedure initiated against National Bank in connection with application of provisions of this law the following conditions are satisfied:

a) if the degree of jurisdiction recognizes actions of National Bank in relation to bank illegal, it obliges him to indemnify to bank the caused material damage, at the same time the revoked license is not recovered;

b) appeal or legal claims will not make impact on process of liquidation and will not suspend execution of obligatory acts of National Bank;

c) the degree of jurisdiction establishes legality of the actions made for the purpose of accomplishment of this law and makes the decision only on that, these actions are deliberate or not;

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