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LAW OF THE REPUBLIC OF MOLDOVA

of February 6, 2003 No. 1-XV

About budget reserve fund of the national social insurance

The parliament adopts this organic law.

Art. 1. - Found budget reserve fund of the national social insurance.

Art. 2. Approve the Regulations on procedure for forming and use of means of budget reserve fund of the national social insurance provided in appendix.

 

Chairman of the parliament

E.Ostapchuk

Appendix

Regulations on procedure for forming and use of means of budget reserve fund of the national social insurance

I. General provisions

1. The regulations on procedure for forming and use of means of budget reserve fund of the national social insurance (further - provision) are developed according to the Law on the state system of social insurance No. 489-XIV of July 8, 1999.

The provision determines procedure for forming, use and accounting of means of budget reserve fund of the national social insurance.

2. The budget reserve fund of the national social insurance (further - reserve fund) is the cash fund intended for provision of benefits of social insurance in reasonable cases and for covering of other expenses of the state system of social insurance which are annually provided in the law on the budget of the national social insurance.

3. The amount of means of reserve fund is provided annually in the law on the budget of the national social insurance.

II. Forming and replenishment of means of reserve fund

4. The reserve fund is created at the expense of the fees of the national social insurance coming to the budget of the national social insurance.

Forming of reserve fund is performed only in case of absence of debt on allowance payment of social insurance of the state system of social insurance, provided annually in the law on the budget of the national social insurance, and complete covering by the predicted income the current fiscal year of the planned expenses provided for the corresponding period.

5. Annual contributions to reserve fund constitute up to three percent from the budget receipts of the national social insurance which are saved up in the corresponding budget year.

The remaining balance of reserve fund which is formed at the end of the fiscal year is postponed to the next year and is replenished in accordance with the terms, provided in paragraph one of this Item.

The cumulative reserve fund cannot exceed 50 percent from the expense level provided for the corresponding fiscal year.

6. Means of reserve fund accumulate and stored on the special bank account.

7. After consideration of the performance report of the budget of the national social insurance for the corresponding accounting period the Administrative board of National cash desk of social insurance represents the offers on assignment of means in reserve fund which are subject to approval by the law.

8. The procedure for investment of means of reserve fund and ensuring efficiency of their storage on deposit bank accounts is established by the Government.

III. Procedure for use of means of reserve fund

9. Means of reserve fund are used on:

- benefits of social insurance of the state system of social insurance in reasonable cases;

- covering of possible current budget deficit of the national social insurance;

- covering of other expenses of the state system of social insurance provided by the law on the budget of the national social insurance for the corresponding year.

10. Assignment of reserve fund for financing of expenses, stipulated in Item 9, is performed on the basis of the offers of Administrative board of National cash desk of social insurance which are subject to approval by the law.

IV. Accounting and control of expenditure of means of reserve fund

11. Means of reserve fund are used in strict accordance with the law on the budget of the national social insurance for the corresponding year and this law.

12. Data on use of means of reserve fund by National cash desk of social insurance are reflected in performance reports of the budget of the national social insurance with inclusion in revenues of the means which are on deposit bank accounts.

13. The Administrative board and management of National cash desk of social insurance are responsible for proper use of means of reserve fund.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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