This newsletter sets out the main amendments/news pertaining to enactments and case law for the above referenced period.
Order no. 561 dated November 24, 2014 of the President of the Competition Council on the implementation of the Regulation for the enforcement procedure of unfair competition practices has been published in the Official Gazette, Part I, no. 918 dated December 17, 2014. The Regulation clarifies, among other aspects, the following: (i) the scope of the unfair commercial practices complaints; (ii) the registration of the complaints regarding possible unfair competition practices and their preliminary analysis, the submission of the complaints, the information and documents which must be provided according to the form, the actual date of the complaint, the admissibility conditions and the result of the preliminary analysis; (iii) the analysis of the unfair competition practices complaints, the initiation of the investigation, the request for information and statements, the carrying out of the inspections, the settlement date, the ceasing measure of the unfair competition practice, the report, the individualisation of penalties and ex officio analysis of the unfair competition practices; (iv) the decisions regarding unfair competition, such as adopting the decisions, types of decisions, communication, publication and enforcement of the decisions; (v) the confidentiality and notification of the criminal investigation authorities by the competition authority. The form regarding the complaint of a possible unfair competition practice is provided in Annex no. 1 whilst the minutes of findings and subsequent penalties as well as a payment notice form are provided in Annex no. 2. At the enactment of the Regulation, the provisions of Law no. 11/1991 as well as those of the Regulation regarding the procedure for identification and sanction of the unfair competition practices will be repealed.
Order no. 1358 dated November 13, 2014 of the minister of health regarding the establishment of the medical genetics network has been published in the Official Gazette, Part I, no. 848 dated November 20, 2014. The medical genetics network is established and it contains the following structures: the regional centres, the medical genetics offices and laboratories. Each medical genetics regional centre will put in place a regional book for genetical diseases that will contain specific indicators, approved by the medical genetics Commission of the Ministry of Health. The Order lists the medical genetics regional centres and the relevant counties assigned to each of them, the minimum personnel necessary for the medical genetics structures, the specific activities and the tasks of the medical genetics structures.
REGULATORY & COMPLIANCE
Regulation no. 17 dated November 28, 2014 of the Financial Supervisory Authority regarding the legal status of the shares that are traded on the RASDAQ Market or on the unlisted securities market has been published in the Official Gazette, Part I, no. 870 dated November 28, 2014. If the extraordinary shareholder’s meeting approves the initiation of the admission to trade on a regulated market, then the issuing company will file a request with the Financial Supervisory Authority for the approval of the trade plan. The Financial Supervisory Authority decides whether the request is admissible or not. If the extraordinary shareholder’s meeting approves the admission to trade the company’s shares in an alternative trading system, then the issuer will file a request with the Financial Supervisory Authority for the approval of the trade plan. In order to establish the price that will be paid for the shares owned by the shareholders that have withdrawn from the company, the board of directors must request the trade registry to appoint an independent authorized expert. The expert will take all the necessary steps in order to establish the price. The shares traded on the RASDAQ Market will be withdrawn from trading and erased from the Financial Supervisory Authority’s accounts.
Norm no. 23 dated November 6, 2014 of the Financial Supervisory Authority regarding the mandatory civil liability insurance for the losses caused by vehicle accidents has been published in the Official Gazette, Part I, no. 826 dated November 12, 2014. The insurers offer indemnities for the losses caused by vehicule accidents, for which the insureds are liable towards third parties. The insurance does not cover the liability resulting from the execution of an onerous transport contract of goods. The mandatory civil liability insurance contract covers the tort liability of vehicle owners or users for the losses caused by the latters to third parties. The Norm provides the special conditions that authorized insurers must follow in order to provide the mandatory civil liability insurance. With respect to the insurance contract, the following aspects are provided: (i) the risks covered; (ii) the validity period; (iii) the liability regarding the tractor-trailer/semitrailer pair; (iv) the obligations of the insured; (v) the compensation. The schedule with the insurance premiums is provided in Annex no. 1 to the Norm.
Government Emergency Ordinance no. 77 dated December 3, 2014 regarding national procedures in the state aid field as well as for amending and supplementing Law no. 21/1996 on competition has been published in the Official Gazette, Part I, no. 893 dated December 9, 2014. Unless otherwise established by the regulations of the European Union, any intention of establishing a new state aid measure has to be notified to the European Commission. The new state aid, which has to be notified, can be adopted and granted only after it is authorized by the European Commission or after it is considered to be authorized in accordance with the provisions of the Regulation (EC) no. 659/1999. The state aid which is not subject to notification can be granted in accordance with the legislation of the European Union and the national provisions concerning state aid. The Competition Council presents the Government a semi-annual report regarding its activity on state aid. Any state aid or minimis aid project established by the central public authorities must be followed by a Government memorandum regarding the financial measures of the Romanian state, with the exception of those financed from European funds. The provider/initiator of a state aid or minimis aid will file a request with the Competition Council. The latter will issue a notice regarding the compliance, accuracy and fufillment of the obligations. The central public authorities, the local authorities and any other entities controlled by the state may initiate preliminary consultations with the Competition Council in order to establish if the measures can be considered as state aid or minimis aid and the conditions in which such measures can be implemented. For the approval of the request, the Competition Council may require additional information from the provider/initiator. The Competition Council’s website on state aid is the only national website concerning the state aid field.
Norm no. 24 dated November 6, 2014 of the Financial Supervisory Authority regarding the petitions` settlement procedure for the activity of insurers and insurance brokers has been published in the Official Gazette, Part I, no. 824 dated November 12, 2014. The Norm provides the obligations of the insurers and the insurance brokers as well as the information that insurance companies must present on their own website. The schedule of the petitions for each trimester for insurers and reinsurers is provided in Annex no. 1 to the Norm. The information regarding the main problems identified in the management and settlement activity of the petitions for each trimester is provided in Annex no. 2.
Law no. 845 dated December 10, 2014 amending and supplementing the Pharmacy Law no. 266/2008 has been published in the Official Gazette, Part I, no. 907 dated December 15, 2014. Drugs are to be sold and released only by means of retail. However, the drugs sold/released through hospital pharmacies, those intended for the emergency kits as well as those intended for medical centres are not bound by said rules. Also, the release of drugs, parapharmaceutical products, consumables and other products intended for the use of prisoners and distributed through pharmacies within the prison system is made in accordance with the provisions of the criminal law. The sale and/or release of drugs available only on prescription is done only within the headquarters or the working point of the community pharmacies, the local dispensaries, the hospital pharmacies, the pharmacies within the medical centres which belong to ministries and the pharmacies within the prison system. The law provides the necessary documents for the obtaining of the operating permit. The Pharmacy Law will be republished and the articles will be renumbered.
Amendments to the Fiscal Code
Government Emergency Ordinance no. 80 dated December 10, 2014 amending and supplementing Law no. 571/2003 on the Fiscal Code and other regulatory acts has been published in the Official Gazette, Part I, no. 906 dated December 12, 2014. The general rules for establishing the annual net income resulted from independent activities, determined in real system and based on the accountancy data, are amended. The annual net income from this type of activities represents the difference between the gross income and the deductible expenses carried out in order to obtain the said income. The tax payers who develop activities for which the net income is determined on the basis of the income norms have the obligation to fill in the Fiscal Registry only with regard to the income. Said tax payers have no obligations with respect to the accountancy. In order to determine the net income resulted from intellectual property rights, tax payers will fill in the Fiscal registry only with respect to the income. Alternative, said tax payers can fulfil their fiscal obligations by submitting the relevant tax documents. In addition, said tax payers have the obligation to keep the relevant tax documents at least within the prescription term provided by the law.