RESOLUTION OF ADMINISTRATIVE BOARD OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of November 25, 2004 No. 297

About approval of Regulations on opening, change and closing of accounts in licensed banks of the Republic of Moldova

Based on the Art. 5, 11, 44 Laws on National Bank of Moldova N548-XIII of July 21, 1995. The administrative board of National Bank of Moldova DECIDES:

I. Approve Regulations on opening, change and closing of accounts in licensed banks of the Republic of Moldova.

II. On Date of Introduction of this resolution the Regulations on opening and closing of accounts approved by the Resolution of Administrative board of National Bank of Moldova N 415 of December 30, 1999 (Monitorul Oficial al Republicii Moldova N 8-9/32 of January 20, 2000) with subsequent changes and amendments void.

III. To managements of National Bank of Moldova to make changes, as necessary, to the regulations concerning these regulations.

IV. To impose control over the implementation of this resolution on Department of the budget, finance and financial accounting.

V. This resolution is published in "Monitorul Oficial al Republicii Moldova" and becomes effective since December 10, 2004.

Regulations on opening, change and closing of accounts in licensed banks of the Republic of Moldova

Chapter I General provisions

1. General requirements

1.1. These regulations are developed according to the Art. 5, 11 and 44 Laws on National Bank of Moldova N 548-XIII of 21.07.95, other existing regulations and regulate procedure for opening, change and closing of accounts in Moldovan lei and/or in foreign currency in licensed banks of the Republic of Moldova.

1.2. Requirements of these regulations extend on all legal entities, the representations created in the Republic of Moldova by legal entities - nonresidents, individual entrepreneurs and the physical persons opening accounts in licensed banks of the Republic of Moldova and also to the licensed banks opening accounts in National Bank of Moldova.

1.3. Licensed jars are opened, changed and close bank accounts with observance of the current legislation and requirements of these regulations.

1.4. In these regulations it is used the following concepts:

Licensed bank (further - bank) - the bank owning the license of National Bank of Moldova for implementation of financial transactions.

Foreign bank - the bank created and registered according to the current legislation of foreign state and owning the license for implementation of banking activity granted by banking supervisor authority, the location of the relevant bank authorized by the law of the country.

The account holder - the legal entity, the representation created in the Republic of Moldova by legal nonresident person, the individual entrepreneur and physical person addressed to which the bank account is opened.

The bank account (further - the account) - the analytical account opened by bank addressed to the account holder on whose means transactions of receipt and/or payment of money are performed.

The current bank account (further - the current account) - the account opened by bank to the account holder who serves for registration in chronological procedure for all made cash payments and/or non-cash, from this account according to the current legislation.

The account of "Loro" - the current account opened by bank for other bank.

The deposit account - the account opened by bank for the account holder, intended for accounting of deposit transactions on urgent placement of temporarily free money (urgent deposit schetotkryty bank of accounts into which money with in percent for a certain period of time) or poste restante is deposited (the on-demand deposit account - the account opened by bank into which money with charge or without charge of percent, without determination of term of placement is made) according to the current legislation.

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