of July 22, 2016 No. 183
About finality of calculations in payment systems and settlement systems for financial instruments
The Parliament adopts this organic law.
(1) This law regulates finality of calculations in payment systems and settlement systems for financial instruments, effects of the procedure of insolvency concerning the rights and obligations of the participant of system following from or in connection with participation in system and also protection of the rights of holders of providing in case of insolvency of the participating supplier of providing.
(2) the Purpose of this law is decrease in the systemic risk connected with participation in payment systems and settlement systems on financial instruments and also decrease in the system failures caused by initiation of the procedure of insolvency concerning the participant of these systems.
This law is applied to any system determined according to Item 17) of part (1) Articles 3, to any participant of such system, and also to the providing established in connection with participation in system or in connection with transactions of National Bank of Moldova within implementation of the functions as Central Bank.
(1) for the purposes of this law the following concepts and expressions are used:
1) the calculating agent – the subject for the purpose of implementation of calculations opening to organizations and/or the central partner participating in system, settlement accounts according to which calculations for payment orders and/or transfer orders within system and, if necessary, the granting loan to such organizations and/or the central partner are perfromed;
2) Clearing House – the subject responsible for calculation of net line items of organizations, the possible central partner and/or the possible calculating agent;
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