LAW OF THE REPUBLIC OF MOLDOVA

of July 22, 2016 No. 185

About modification and amendments in some legal acts

The Parliament adopts this organic law.

Art. 1. – In the Law on financial institutions No. 550-XIII of July 21, 1995 (repeated publication: The official monitor of the Republic of Moldova, 2011, Art. No. 78-81, 199), with subsequent changes to make the following changes and additions:

1. In part (4) Article 10 of the word "the bases of its response." shall be replaced with words "the bases of its response, day and the exact time of decision making.".

2. In part (Article 11 of the word "from the moment of its acceptance." shall be replaced with words 2) "in the day and the exact time of decision making specified in it.".

3. In Article 38-5:

Item h) parts (to add 1) with words ", except for case when payments are made in the payment system falling under operation of the Law on finality of calculations in payment systems and settlement systems on financial instruments No. 183 of July 22, 2016 and part provisions (3) article 6 of the specified law are applicable.";

Item f) parts (to add 2) with the text: "This provision is not applied in case of payments or transfer made in the systems falling under operation of the Law on finality of calculations in payment systems and settlement systems for financial instruments No. 183 of July 22, 2016.";

part (to state 3) in the following edition:

"(3) Revocation of license of bank does not influence execution of payment orders / the transfer orders on securities initiated by bank and entered into payment systems / settlement systems on securities about one day and exact time of decision making about revocation of license.".

Art. II. – In Item c) parts (2) article 61 of the Law on pledge No. 449-XV of July 30, 2001 (repeated publication: The official monitor of the Republic of Moldova, 2014, Art. No. 345-351, 655) of the word "presentations on the capital)" shall be replaced with words "capital securities if article 8 of the Law on agreements on financial provision No. 184 of July 22, 2016 does not provide other)".

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