of July 18, 2014 No. 161
About the authorized managing directors
The parliament adopts this organic law.
(1) This law represents the general legal basis for authorization, suspension and the termination of professional activity of the managing directors appointed according to the law for implementation of powers on supervision and/or professional management.
(2) This law is not applied to the managing directors appointed within the procedure of involuntary liquidation of banks.
For the purpose of this law the concept "the authorized managing director" (further - the managing director) means any physical person given according to the law authority on implementation of supervision and/or management within heritable production, process of insolvency, the procedure of dissolution judicially and in other cases provided by the law.
(1) Activities of the managing director are the liberal profession performed in public concerns and does not treat business activity.
(2) the Profession of the managing director can be performed only by the persons authorized according to this law and included in the Register of the authorized managing directors.
(1) Activities of the managing director are based on the following basic principles:
a) legality, financial rationality and efficiency;
b) independence and impartiality;
c) honesty, diligence and objectivity;
d) competence and professional ethics;
e) transparency, except as specified, connected with observance of trade secret.
(2) the Managing director provides according to the law observance of the rights and legitimate interests of persons involved in procedures in which he is appointed the authorized managing director.
(1) the Legal basis of activities of the managing director provisions of the Civil code of the Republic of Moldova No. 1107-XV of June 6, 2002, the Code of civil procedure of the Republic of Moldova No. 225-XV of May 30, 2003 constitute, insolvency laws, this law and other regulations, and also provision of the Code of medical ethics of the authorized managing directors, the Code of fair practice of activities of the authorized managing directors, the Charter of the Union of the authorized managing directors.
(2) Regulation of activities of the managing director is performed based on this law in the way:
a) determinations of powers of regulating authorities of activities of the managing director;
b) determinations of conditions and procedure for the admission to the managing director's profession;
c) determinations of forms of the organization of activities of the managing director;
d) determinations of conditions and procedure for suspension and termination of activities of the managing director;
e) establishments of obligations of the managing director, procedures for supervision and control of its activities, and also disciplinary responsibility of the managing director.
(1) the Ministry of Justice is the body equipped with functions on regulation, supervision and control of activities of the managing director.
(2) In the limits established by the law the Ministry of Justice:
a) creates the Commission on authorization and discipline and develops regulations on its activities;
d) issues authorizations on implementation of activities of the managing director, keeps the Register of the authorized managing directors;
e) applies sanctions on suspension and the termination of activities of the managing director on the basis of the decision of the Commission on authorization and discipline;
f) exercises control of activities of managing directors on the initiative and considers the addresses and information connected with violations managing professional obligations;
g) carries out other powers provided by the law.
(3) the Ministry of Justice holds consultations and requests offers of the Union of the authorized managing directors in case of the solution of the questions connected with regulation of activities of managing directors.
(1) the Commission on authorization and discipline is the collegiate organ which does not have the status of the legal entity and is created by the order of the Minister of Justice. The regulations on activities of the Commission on authorization and discipline affirm the Government.
(2) the Commission on authorization and discipline consists of nine regular members and nine additional members appointed as follows:
a) three representatives – from the Ministry of Justice;
b) one representative – from the Ministry of Economy and Infrastructure;
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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