I. LEGAL FRAMEWORK

1. Law 31/90 on commercial companies

a.) Contains basic regulations on setting up, operation , changes and ending of activity of the companies

b) Has been modified by lwa41/91, law 44/91, law 80/91, law 78/92, OUG 32/97 approved and modified by law 195/97

c.) Has been republished in the Official Journal in Romania, section 1 nr33/29.01.98 with all the changes that occurred until that date

d) After republication, has been modified by Law 99/99, regarding some measures to be taken for the acceleration in the economic reform (republished, in excerpt, after Law 31/90)

Law 26/90 on TRADE REGISTRY

a.) Comprises regulations on how to set up and organise the National office and TARDE REGISTRY and the offices of trade registry in every county, registration of the traders in the trade registry and registrations of some other mentions; the legal form and the logo of the companies as well as the sanctions applied in case of non observances of its provisions

b.) Has been modified by Law 12/98 published in the Official Journal of Romania, section I. no. 15 from 19.01.987

c.) Has been republished in the Official Journal of Romania, section I. nr.49/04.02.98 with all the changes that occurred that date.

2. METHODOLOGICAL NORMS No. P/608-773, issued by the Chamber of Commerce and Industry of Romania and the Ministry of Justice

a.) The methodological norms regulates the ways of keeping the trade registry and the operation of the registrations, registration of traders, mentions on modification of setting-up deed, and any other mentions as well as the organisation and operation of the office of trade registry.

b.) The methodological norms have been published in the Official Journal of Romania section I. NR. 176/11.05.1998.