of July 30, 1997 No. 717
About approval of the Regulations on procedure for release, the address and repayment of debentures
In pursuance of the Law on restructuring of the N 958-XIII companies of July 19, 1996 and for the purpose of streamlining of process of debt restructuring of economic agents and establishment of single procedure for release, the address and repayment of debentures the Government of the Republic of Moldova DECIDES:
1. Approve Regulations on procedure for release, addresses and repayments of debentures (are attached).
2. Determine that the economic agents who concluded with Board of creditors memorandums agreements on restructuring issue debentures according to the specified provision.
3. Impose control of observance of this resolution by the companies which concluded memorandums agreements on restructuring on Board of creditors.
Prime Minister of the Republic of Moldova
Ion Chubuk
Regulations on procedure for release, the address and repayment of debentures (further - provision) are developed in pursuance of the Law on restructuring of the N 958-XIII companies of July 19, 1996; it establishes single procedure for release, the address and repayment in the territory of the Republic of Moldova of debentures.
The debenture - the credit document representing the commitment debt obligation constituted according to requirements of this provision and granting to its owner the right after term to demand from the debtor of payment of the amounts of debt and percent specified in it (if percent are provided by issue conditions).
Without being security, the debenture represents the tool necessary for accomplishment of technical and financial transaction on prolongation of debts by the companies performing restructuring based on memorandums agreements.
The procedure for the address in the territory of the Republic of Moldova of debentures is regulated according to the Civil code and other existing legal acts.
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