Document from CIS Legislation database © 2003-2023 SojuzPravoInform LLC

Registered by

Ministry of Justice

Republic of Moldova No. 444

of April 6, 2006

ORDER OF LICENSED CHAMBER OF THE REPUBLIC OF MOLDOVA

of February 20, 2006 No. 12-g

About approval of licensed conditions and lists of the additional documents enclosed to applications for issue of licenses for separate types of activity

(as amended on on July 13, 2007)

IT IS APPROVED

Ministry

economy and trade No. 15 of 24.02.2006.

 

Based on Item c) parts (2) article 7 of the Law of the Republic of Moldova N 451-XV of July 30, 2001 about licensing of separate types of activity (repeated publication: The official monitor of the Republic of Moldova, 2005, N 26-28, Art. 95), with subsequent changes, PRIKAZYVAYU:

1. Approve licensed conditions and lists of the additional documents enclosed to applications for issue of licenses for the separate types of activity specified in Items 1) - 37) parts (1) article 8 of the Law of the Republic of Moldova N 451-XV of July 30, 2001 about licensing of separate types of activity, (are in the new edition applied).

2. Declare invalid the Order of Licensed chamber N 77-g of September 10, 2004 about approval of licensed conditions and lists of the additional documents enclosed to applications for issue of licenses for separate types of activity (The official monitor of the Republic of Moldova, 2004, N 193-198, Art. 390), with subsequent changes.

 

Director of Licensed chamber

Zinaida Kistruga

Approved by the Order of Licensed chamber No. 12-g of February 20, 2006

Licensed conditions and lists of the additional documents enclosed to applications for issue of licenses for separate types of activity

1. Auditor activities

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Prohibition of implementation of other types of business activity, except auditor.

3. Signing of audit opinion only the auditors specified in the license with observance of conditions of the national standard on audit 700 "Audit opinion concerning the financial reporting".

4. Non-admission of acceptance and preserving at work of the auditor without qualification certificate.

5. Ownership of auditors at least 51% of voting shares in the auditing organization registered as joint-stock company.

The list of the additional documents enclosed to the application for licensing

1. Copies of individual employment contracts or service records of the hired auditors, also qualification certificates of the auditor issued by Certifying commission under the Ministry of Finance or under National Bank of Moldova.

2. Activities for real estate appraisal and (or) for implementation of commodity examination

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Signing of the valuation report of real estate only the appraisers specified in the license.

3. Non-admission of acceptance and preserving at work of appraisers without certificate on qualification.

4. Availability of the necessary equipment and the equipment checked by territorial authorities of standardization and metrology.

5. Availability of regulations on activities of the economic actor in the field of commodity examination approved as the licensee.

The list of the additional documents enclosed to the application for licensing

1. Copies of individual employment contracts or service records, and also the certificates on qualification of appraisers issued by the Agency of land relations and inventory.

2. Copies of diplomas about the higher education and the individual employment contracts or service records confirming working experience of the hired experts.

3. Exchange activities

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Prohibition of accomplishment of stock exchange transactions from name and at the expense of the exchange, and also non-admission of violation by members of the exchange of the right of concession of the participation rights in exchange trade.

3. Availability of the Rules of stock exchange trading approved by general meeting of founders and members of commodity exchange.

4. Observance of provisions of the legislation concerning the list of founders and members of commodity exchange, and also concerning the size of share of founders and members of the exchange in the authorized capital.

The list of the additional documents enclosed to the application for licensing

1. The copy of the document on the property right or agreements on hiring of the room where licensed activity will be performed.

2. The documents confirming forming of the authorized capital.

3. The list of founders and members of the exchange and the size of their share in the authorized capital of the exchange.

4. The statement from the Shareholder register (for the exchange registered as joint-stock company).

5. The statement from the decision passed by governing bodies of the exchange about organization of clearing center or the copy of the agreement of the exchange with commercial bank about the organization of clearing servicing.

4. Activities in insurance field; activities for asset management of non-state pension funds

I. Activities in insurance field

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Implementation of insurance activity only on types of insurance for which the license was granted.

3. Observance of normative ratio between the amount of own assets and insurance sum.

4. Observance of established procedure of forming and placement of insurance reserves and funds (including technical reserves).

5. Accomplishment of the contract commitments assumed according to insurance contracts or joint insurances.

6. Observance of instructions by the State inspectorate for supervision of insurance and non-state pension funds.

The list of the additional documents enclosed to the application for licensing

1. The copy of the document on the property right or employment contracts of the room where licensed activity will be performed.

2. The copy of the bank document confirming introduction of the minimum authorized capital invested in the form of money.

3. General and special terms of insurance, for each type of insurance separately (with appendix of samples of agreements and insurance policies, insurance rates and their structures, for life insurance - actuarial calculation of rates and the corresponding formula of the planned annual rate in calculation of the expected income from long-term investment of means of insurance reserves and included in calculation insurance net - awards).

II. Activities for asset management of non-state pension funds

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Provision to investors and beneficiaries (at least once a quarter) information on condition of retirement accounts.

3. Money transfer, being on the retirement account, in other fund in accordance with the terms of the pension agreement.

The list of the additional documents enclosed to the application for licensing

1. The copy of the document on the property right or employment contracts of the room where the licensed type of activity will be performed.

2. The copy of the financial statement for the last accounting period confirmed with industry body which exercises supervision of non-state pension funds.

3. The copy of the report on actuarial assessment of obligations of fund concerning the members (beneficiaries).

4. The copy of the bank document confirming payment by the applicant for execution of functions of manager of assets of the fund of the amount equivalent to at least 250 thousand dollars of the USA in Moldovan lei enclosed on special bank account, offered by National Bank of Moldova.

5. The plan of administration of assets of fund (for the first two years of activities) which provides the size of assets and the direction of their investment according to the Law "About Non-state Pension Funds".

4. Activities in insurance fields, activities of mediation in insurance; activities for asset management of non-state pension funds

I. Activities in insurance field and/or reinsurance activities

Licensed conditions

1. Implementation of licensed activity according to legislative and regulations.

2. Implementation of activities in insurance field and/or reinsurance activities on the basis of the license granted only for activities for category.

3. Observance of requirements of solvency and financial stability.

4. Observance of established procedure of forming and temporary use of technical and mathematical reserves.

5. Accomplishment of agreement obligations about insurance and reinsurance.

6. Equipment by computer facilities and the appropriate computer programs, and also qualified personnel that will allow to keep detailed account of insurance documents and to perform centralization of information and/or collected data (for obligatory civil liability insurance for the damage caused by vehicles).

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