The law for setting up companies, no. 31/1990, is about to change and the draft law is available for public debate on the websites of both the ministry of justice, www.just.ro, and of the Executive, www.gov.ro.
Major changes concern the ability of persons to register a company online, for share companies to have only two shareholders and to build electronic archives, and aim to bring the law in line with the OECD recommendations regarding corporate governance.
Deputy PM George Copos met Wednesday in three separate rounds representatives of Romanian employers associations, of foreign investors, and of the chambers for trade and industry.
All their proposals and those filed with the ministry of justice by any interested party will be debated in a public session on March 9.
Copos regards bringing the law up to current standards as one of his priorities, a Government press release said.
Shareholders will be better protected, since the draft law changes to 30 days the time lapse between calling and having a general shareholdersâ meeting, from 15 days before. Also, decisions will be easier to make, since the qualifying number of votes went down both for calling a valid meeting and for taking a vote.
Also, shareholders may delegate other shareholders to cast their vote.
Translation by Anca Paduraru
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