nr. 23, September 2007

In August, the main evolutions of the regulatory framework were the adoption of Law on Savings and Credit Associations (SCA), Law on limited liability companies, and the Law on auditing. The first law liberalizes the framework for functioning of the Savings and Credit Associations. As a result, these associations could be constituted not only by citizens, but by juridical entities too, while their territorial borders of functioning will become less rigid. Regarding the new Law on limited liability companies, the Parliament did not changed the minimal threshold of 5400 lei for the normative capital.