On 30 September 2014, the Romanian Chamber of Deputies adopted a law intended to clarify the legal status of shares traded on the Rasdaq market and the unlisted securities market.
Government Ordinance no. 12/2014 has recently amended the main Romanian legal enactment on unfair competition – Law no. 11/1991. The scope of these amendments covers the content of the prohibited unfair competition practices, as well as a more precise regulation of the Competition Council’s role in sanctioning such practices.
A new State aid scheme targets electro-intensive industries, by partially relieving them from the payment of the green certificates which they would normally have to pay in relation to their electricity consumption.
The European Commission has recently approved Romania’s map for granting regional development State aid between 2014 and 2020.
A new text has recently joined the overabundance of Romanian norms in the area of consumer protection: Government Emergency Ordinance no. 34/2014 on the rights of consumers in contracts concluded with traders, transposing Directive 2011/83/EU of the European Parliament and of the Council on consumer rights.
On 12 June 2014, the Bank Recovery and Resolution Directive was published with the Official Journal of the European Union.
On 24 June 2014, the President of Romania has promulgated the new Pre-insolvency and Insolvency Law, which had been passed by the Chamber of Deputies on 15 April 2014 and found constitutional by the Romanian Constitutional Court on 21 May 2014.
The Government of Romania has recently approved Government Ordinance no. 22/2014 amending and supplementing Law no. 50/1991 on the authorization of the performance of construction works bringing certain clarifications to facilitate and expedite the issuance of the building permits necessary to carry out onshore petroleum operations