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The new standards for company floatation and set-up

30 Decembrie 2006
620 Vizualizari | 0 Comentarii
The new law, which regulates the companies' activity, totally changes the old Law 31 from 1990. According to this, the managers are not allowed to be wage earners, or the company's employees with work pass anymore. The regulation lends more influence to the minority shareholders from the big firms. Beginning with December 1, there has come into force Law 441, which regulates the companies' activity and brings essential changes to Law 31 from 1990. This new law has been approved very fast, being promulgated on November 28 and coming into force on December 1; no transitional period has been established for its implementation. This hurry has been caused by the requirements for our lining up to the European Commission's standards in the domain, and to the White Ledger's, of the Organization for Economic Development and Cooperation ( OECD) from December 2004, related to Romania.
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