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Romanian Legal Week in brief: April 17-23, 2017

Raluca-Andreea Trîncă-Găvan
Raluca-Andreea
Trîncă-Găvan

Amendment of the Criminal Code and of the Criminal Procedure Code. Draft

On Wednesday, the 19th of April 2017, the Ministry of Justice has launched in public debate the draft of law for the amendment and completion of the Law no. 286/2009 regarding the Criminal Code, of the Law no. 135/2010 regarding the Criminal Procedure Code, for the completion of Article 31 of Law no. 304/2004 on judicial organisation, and for the completion of Article 79 of Law no. 253/2013 regarding the execution of the sentences, educational measures, other measure not depriving of liberty ordered by judiciary during the criminal trial, according to a press release of the Ministry of Justice.

For the public debate of the amendments, the Ministry organizes two meetings, as follows: 26th of April 2017 and 15th of May 2017.

 

Amendment of the Government Emergency Ordinance on the corporative governance of the public undertakings. Draft

On Tuesday, the 18th  of April 2017, the Ministry of Environment has launched in public debate the draft of law regarding the amendment of the Government Emergency Ordinance no. 109/2011 on the corporative governance of the public undertakings.

 

Ratification of the Agreement between Romania and Ukraine on the joint border patrolling  Romanian-Ukrainian state border

The Law no. 71/2017 for the ratification of the Agreement between Government of Romania and the Cabinet of Ministers of Ukraine on joint patrol at the Romanian-Ukrainian state border, signed on the 21st April 2016 in Bucharest was published in the Official Journal of Romania, Part one, No. 278 on the 20th of April 2017.

The Agreement between the Romanian Government and the Cabinet of Ministers of Ukraine on joint patrolling at the Romanian-Ukrainian state border, signed on 21 April 2016 in Bucharest, is ratified.

The agreement establishes the conditions of the organization by the competent authorities of the parties of joint patrol at the Romanian-Ukrainian state border on the territory of one of the parties. 

 

BVB. Romania investor day in New York

The Bucharest Stock Exchange (BVB) and its partners continue to promote Romania internationally as the main investment destination among the most attractive capital markets in the world, in front of the investors who participated in the annual New York “Romania Investor Day” conference.

The companies that participated in the 2017 edition are: Transilvania Bank, BRD Gr. Soc. Gen, Bucharest Airports, Bucharest Stock Exchange, Electrica, Fondul Proprietatea, Hidroelectrica, MedLife, Nuclearelectrica, Romgaz, Salrom, Transelectrica, and Transgaz.

At the event, 43 representatives from 32 investment funds, which manage over USD 750 billion, met with 13 Romanian companies.

BVB representatives discussed with FTSE Russell and S & P Dow Jones Indices the prospects and conditions for promoting the Romanian capital market to emerging market status, thus continuing the dialogue with reputable agencies. A working meeting is planned with MSCI in the first part of May in Europe.

 

Ratification of the Paris Agreement of 12 December 2015 regarding the measures against climate change 

The Law no. 57/2017 for the ratification of the Paris Agreement, signed in Paris on 12th of December 2015, and signed by Romania in New York on the 22nd of April 2016, was published in the Official Journal of Romania, Part I, No. 276 on the 20th of April 2017.

The agreement aims to strengthen the global response to the threat posed by climate change in the context of sustainable development and poverty eradication efforts, including:

(A) maintaining a global average temperature increase well below 2 ° C above pre-industrial levels and continuing the efforts to limit the temperature rise to 1.5 ° C above pre-industrial levels, recognizing that this would significantly reduce the risks and effects of climate change ;

(B) the increase of  the capacity to adapt to the negative effects of climate change and the encouragement of the climate change resistance and of the development with low greenhouse gas emissions in a way that does not jeopardize food production; and

(C) taking the necessary measures to ensure that the financial flows correspond to an evolution towards a development with a low level of greenhouse gas emissions and resistance to climate change

Raluca-Andreea Trîncă-Găvan

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