LAW REPUBLIC OF MOLDOVA

of July 25, 2014 No. 173

About modification and amendments in some legal acts

This organic law is adopted based on provisions of article 106-1 of the Constitution by acceptance on itself the Government of responsibility to Parliament.

Article I. Part (6) Article 102 of the Section III of the Tax code No. 1163-XIII of April 24, 1997 (repeated publication: The official monitor of the Republic of Moldova, special release of February 8, 2007), with subsequent changes and amendments to add with the offer of the following content at the end:

"If after sale of pledged property by the pawnbroker or person designated by it the pledger does not issue tax delivery note within 15 days after sale, the subject of the taxation has the right to receive the VAT amount paid or which shall be paid, based on the sales agreement of pledged property".

Article II. – In the Law No. 449-XV of July 30, 2001 on pledge (Official monitor of the Republic of Moldova, 2001, No. 120, of the Art. 863), with subsequent changes and amendments, to make the following changes and additions:

1. Part (Article 2 to state 6) in the following edition:

"(6) the Property of the physical persons which are under guardianship or custody can be pledged only with the consent of body of guardianship or, respectively, guardianship".

2. From part (1) Article 4 to exclude the words "or immovable".

3. Article 6:

part (to state 3) in the following edition:

"(3) the Mortgage arises from the moment of registration. Pledge of personal estate without deprivation of ownership of this property arises at the time of registration or in case of pledge of money on the bank account, created through control, according to part (2) Article 25-1.";

4. State Article 7 in the following edition:

"(1) the Mortgage is registered in the Register of real estate.

(2) Pledge of personal estate without deprivation of ownership of this property, except for the pledge created through control according to part (2) Article 25-1, is registered in the Register of pledges of personal estate (further – the Register of pledges)".

5. Article 8:

part (to state 1) in the following edition:

"(1) any material or non-material property, the present or the future determined individually or generally, or property set, except for inalienable property and property which it cannot be seized can be the Subject of pledge. Any property right, including right to claim of the pledger in relation to the pawnbroker" can be subject of pledge.

part (to state 2) in the following edition:

(2), according to sense of this law, it is necessary to understand set of the personal estate existing or acquired in the future As property set, material or non-material, described in general procedure";

part (to state 7) in the following edition:

"(7) money in national and foreign currency can be the Subject of pledge:

a) being on bank accounts and which will arrive on bank accounts as pledge without deprivation of ownership;

b) in the form of the anniversary and commemorative coins including containing precious metals as pledge (pledge) with deprivation of ownership".

6. State Article 9 in the following edition:

"Article 9. Replacement property and insurance indemnity

(1) If on the terms of the law the property right of the pledger to pledged property stops, pledge automatically extends to the replacement property or insurance indemnity which are due to the pledger if the pledge agreement does not provide other. In this case degree of priority of pledge of replacement property or insurance indemnity is determined by the moment of emergence of pledge of property, the property right to which stopped.

(2) Pledge extends to insurance indemnity, except for situations when the insured event took place because of the pawnbroker or if the pledge agreement provides other.

(3) in case of awareness on existence of pledge of property person who owes insurance indemnity shall notify the pawnbroker on the intention to pay insurance indemnity to the address specified in the Register of pledges. The pawnbroker shall answer within 10 days after receipt of the notification, having specified one of the following methods of use of insurance indemnity:

a) payment to the pawnbroker for repayment of the guaranteed obligation if the notification on execution according to part (1) Article 67 was sent;

b) payment into the account of the pledger, having specified the account when pledge concerning money on the bank account, according to part (2) Article 25-1, was established or

c) payment to the pledger, according to that as it was specified by this pledger.

(4) for the purposes of Item b) parts (3), the pledger according to the property obligation will provide forming of pledge on money on the bank account, according to part (2) Article 25-1, till 3 days from the date of the statement of the pawnbroker. In case of non-execution of this obligation, the pawnbroker has the right to require premature execution of the guaranteed obligation and to appoint under accounting subject to pledge, according to part (1) Article 61.

(5) Person who owes insurance indemnity shall:

a) without unreasonable delay to pay insurance indemnity as it is specified in the answer of the pawnbroker; or

b) if the pawnbroker did not answer in time, specified in part (3), and there is proof of receipt of the notification, to pay insurance indemnity to the pledger or as it is specified by the pledger.

(6) the Pawnbroker will direct the insurance indemnity received according to Item and) parts (3), on execution of secured liability".

7. To state the single part of Article 10 in the following edition:

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