The participation share in the registered capital of banks will be restricted. Relevant changes to a number of pieces of legislation have been adopted by the Government, Info-Prim Neo reports. Under the amendments to Article 15 of the Law on Financial Institutions, it will not be possible to acquire a substantial share in the bank’s capital and to transform it into a branch of the acquirer without the preliminary permission of the National Bank, in written form. The penalty for breaking this norm will consist in the suspension of the rights enjoyed when holding shares in the capital of banks. The changes authorize the central bank to assess the quality of the potential buyers of shares so as to determine their reputation, experience and financial situation in order to ensure the stability of the banking system. They also impose the obligation to inform about the selling or reduction of the participation share in the banks’ capital on the direct or indirect holders of a substantial share. They are to notify the National Bank of their decision. In order to protect the integrity of the banking system and not to allow persons who can have a negative influence on the bank’s work to become shareholders, the persons who cannot become shareholders and who do not implement the international transparency standards are clearly defined. These persons include those who are situated in offshore zones. They are to sell their shares within a year of the coming into force of the mentioned changes. Otherwise, the sale of the given shares will be ordered by court decision, based on the application of the National Bank. The earned money will be paid back to the former owner. According to Minister of Finance Veaceslav Negruta, the aim of the bill is to create an appropriate legal framework concerning the holdings in banks and to ensure the stability, functionality and viability of the banking system of Moldova. The bill with amendments is to be passed by Parliament.