Romania: Changes to Companies Law

Romania: Changes to Companies Law
Our corporate team published an article in the International Bar Association’s Corporate and M&A Section regarding the latest changes to the Romanian Companies Law No 31/1990 in order to enable individuals and legal entities to be sole shareholders in more than one Romanian limited liability company. This was previously not the case, as express restrictions […]
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New disputes resolution rules in the energy sector

New disputes resolution rules in the energy sector
The Romanian Energy Regulatory Authority (“ANRE”) issued a new procedure applicable for the settlement by ANRE of the complaints filed by the existing or future final clients of electricity and gas, as well as by the existing and future grid users (both producers and consumers) against the providers of services and activities in the energy […]
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Romanian Companies’ Law: Convening, October 2020

Romanian Companies’ Law: Convening, October 2020
As regards Romanian limited liability companies, the convening of the general assembly of shareholders is done in accordance with the articles of association or as provided under Romanian Companies Law 30/1991 (the ”Companies Law”), specifically through registered letter at least ten days before the date set for the general assembly. The Companies Law does not […]
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Simplifications concerning corporate law in Romania, July 2020

Simplifications concerning corporate law in Romania, July 2020
After a long and drawn out legislative process commenced in 2017, Law no. 102/2020 amending and supplementing the Companies Law no. 31/1990 (“Law 102/2020”) has finally entered into force on July 5, 2020, setting in place major changes to the corporate regulatory framework. The adoption of Law 102/2020 was adifficult legislative process. Following its adoption […]
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Proposed amendments to the Draft Emergency Ordinance, April 2020

Proposed amendments to the Draft Emergency Ordinance, April 2020
Considering that the Draft Emergency Ordinance on certain measures related to corporate law (the “Draft Emergency Ordinance”) has been launched for public debate and proposes various measures aiming to help Romanian companies in the Covid-19 outbreak context (for example, the possibility for holding virtual shareholder meetings even if such possibility is not reflected in the […]
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Romania: corporate statements regarding ultimate beneficial owner(s), March 2020

Romania: corporate statements regarding ultimate beneficial owner(s), March 2020
Law no. 129/2019 for the prevention and combating of money laundering and terrorism financing, and for the amendment and supplementation of certain legislative acts (“Law 129/2019“) requires Romanian companies subject to registration with the Romanian Trade Registry (with the exception of national companies and companies fully or majority owned by the State) to submit statements […]
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ELKB Romanian joint stock companies: board decisions on share capital increase can be challenged, August 2018

ELKB Romanian joint stock companies: board decisions on share capital increase can be challenged, August 2018
Law no. 31/1990 on companies (the “Companies Law”) provides three powers that the Extraordinary General Assembly of Shareholders of Romanian joint-stock companies can delegate to the company’s Board of Directors or Management Board (depending on whether the company’s management is organized as a single-tier management system or as a two-tier management system), as follows: changing […]
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Overview and requirements for changing board members in Romania, Change Board Member, June 2017

Overview and requirements for changing board members in Romania, Change Board Member, June 2017
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ELKB New registration obligations for companies related to waste management

ELKB New registration obligations for companies related to waste management
The recent Ministerial Order 739/2017, entered into force on May 19, 2017, institutes the obligation of companies undertaking activities not subject to environmental permitting as per Law 211/2011 regarding waste products to request registration with the National Registry of Economic Operators kept by National Environment Protection Agency (“NEPA”) by June 16, 2017.
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ELKB VAT registration made easier in Romania

ELKB VAT registration made easier in Romania
On January 13, 2017, the Romanian National Agency for Fiscal Administration (“RNAFA”) repealed the obligation to fill in and submit form no. 88 to the relevant fiscal authorities as of February 1, 2017. For this purpose, the RNAFA Order no. 3.841/2015 regarding the form and content of form no. 088, was abolished by RNAFA Order […]
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