LAW OF THE REPUBLIC OF MOLDOVA

of July 12, 2013 No. 203

About modification and amendments in some legal acts

The Parliament adopts this organic law.

Art. I. - In the Civil code of the Republic of Moldova No. 1107-XV of June 6, 2002 (Official monitor of the Republic of Moldova, 2002, Art. No. 82-86, 661), with subsequent changes, to make the following changes and additions:

1. Part (Article 1241 to add 3) with the offer: "Provisions of this part are not applied to the consumer credit agreements regulated by the Law on credit agreements with consumers.".

2. In Article 1245:

consider single part part (1);

add Article with part (2) the following content:

"(2) in case of consumer credit agreements damages are paid by compensation which amount is established by the Law on credit agreements with consumers.".

Art. II. - Article 344 of the Code of the Republic of Moldova about offenses No. 218-XVI of October 24, 2008 (2009, Art. No. 3-6, 15), with subsequent changes, to add the official monitor of the Republic of Moldova with part (4) the following content:

"(4) the Violation of requirements of the legislation on consumer credit agreements which is expressed in:

a) non-presentation or incomplete submission of standard information which shall be included in advertizing, or precontractual information on the consumer credit agreement,

attracts imposing of penalty on officials in the amount of 50 to 75 conventional units and on legal entities in the amount of 100 to 150 conventional units;

b) non-inclusion in the agreement of obligatory standard information on the consumer credit agreement; or

c) not informing within 7 calendar days on variation of the statement for loan granting as a result of consultation on the database, and also about the used database,

attracts imposing of penalty on officials in the amount of 50 to 75 conventional units and on legal entities in the amount of 100 to 150 conventional units;

d) not informing on any interest rate realignment on the credit before change becomes effective,

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