The December 15 issue of the O.G. starts with the Law on banking activity (No. 202, October 6, 2017), which was adopted on the Government’s initiative. This transposes several directives and regulations of the European Parliament and European Council concerning access to the activity of lending institutions and prudential supervision of lending institutions and investment funds, which were published in the Official Journal of the European Union in June 2013. The law is designed to develop the inspection duties of the National Bank of Moldova and to adjust the national legislation to international standards and practices.
It should be noted that under the new law that will take effect on January 1, 2018, within five months all the banks that hold licenses issued by the National Bank of Moldova in accordance with the Law on Financial Institutions (No. 550 of 21.07.1995), which was almost fully substituted by the given law, are obliged to obtain new licenses and to update the statutes and own regulations, in accordance with the new requirements.
The Law on Savings and Loans Associations No. 139/2007 was amended also on the Government’s initiative in a move to protect the interests of depositors and to ensure the stability of the financial system. A new notion was introduced by the changes – risk management – and a special procedure applying to such associations in difficulty was instituted. Earlier, Law No. 139/2007 was amended for several times, the last time on July 21 this year.
The current issue of the O.G. also contains two documents concerning the working out of important strategies: Decree on the constitution of the commission for thinking up the National security strategy of the Republic of Moldova (No. 478, December 11, 2017) and Government Decision on the approval of the draft Parliament Decision concerning the adoption of the National defense strategy and the plan of action for implementing this for 2017-2021 (No. 1043, December 5, 2017). The current law on the approval of the National security conception of the Republic of Moldova (No. 112/2008) defines the national security goals, values and general principles that are to be protected by the Moldovan state and society. The law provides that after the conception is adopted, the National security strategy of the Republic of Moldova will be worked out and approved. This will specify the methods of ensuring national security and the mechanisms of cooperation between the components of the given system.
On December 1, we informed the readers about the alarming conclusion of the Parliament Decision on the 2016 annual report of the Court of Auditors on the management and use of public financial resources and public heritage (No. 234, November 16, 2017). The current O.G. contains the quoted report (pages 71-153). The faults identified by the Court of Auditors of the Republic of Moldova are worrisome and not only because of the size of figures. Such reports are annually presented to the Government, Parliament and the Prosecutor General’s Office, but nothing is done to prevent such situations.
Among the executive’s acts is the Decision on the approval of the National plan of action on trade facilitation for 2018 – 2020 (No. 1065, December 12, 2017). The document is aimed at optimizing the administrative procedures regulating trade, simplifying customs procedures, implementing the one-stop shop for trade and developing the concept of Authorized Economic Operator and the electronic transit system.
Not less important is the Decision on the approval of the Concept for restructuring the railway sector of the state-run Moldova’s Railways for 2018-2021 (No. 1042, December 5, 2017).
The two documents are designed to develop trade and communications, which have always been key areas for ensuring the people’s welfare.
The Financing contract between the Republic of Moldova and the European Investment Bank for ensuring the electric interconnection between Moldova and Romania (No. 1084, December 13, 2017) is another document designed to stimulate the country’s development. This is a very important and awaited step as the problem of alternative/additional sources for the supply of electric power has been on the agenda since the declaration of the country’s independence.
Among the documents of the Central Election Commission is the Decision concerning the invalidation of the local referendum on the dismissal of the mayor general of Chisinau municipality (No. 1274, November 22, 2017). It should be noted that the CEC decision of September 26 this year provided that the referendum will be organized at a cost of 8 910 640 lei.
The issue also contains several decisions of the commission on the financial reports of competitors involved in the campaign prior to the new local elections and participants in the local referendum on the dismissal of the mayor general of Chisinau municipality of November 19, 2017. The CEC decisions based on official reports presented to it are rather inoffensive if considering the assessments on the real costs incurred by election runners made public by observers of NGOs.
For conformity, Monitor of Official Gazette
