The Romanian Chamber of Commerce and Industry and SCA Piperea și Asociații organized the conference "The New Trade Register Law".
The new regulatory act, which entered into force today - Law No. 265/2022, brings essential changes to both the infrastructure of the Trade Register and the advertising regime of traders and their essential activities, as well as to some essential laws for the Romanian economy and society, such as the Companies Law.
The most important change in the new law Trade Register refers to the fact that company registration will also be possible through exclusively electronic procedures.
If until now, the incorporation documentation could be submitted online, the registration certificate was issued only in printed format. The new law and, implicitly, the new procedure will allow the issuance of the registration certificate directly in electronic format, so that it can also be carried out online.
"CCIR is the founder of the trade register, an institution that started from scratch, after the events of 1989. At that time, the newly established chambers of commerce received a law and that was it. Absolutely nothing was received and practically everything was built from scratch with the contribution of economic agents that were starting to be established after the Revolution. Returning to the subject of the conference, for several years we have been noticing discrepancies between those who submit their balance sheets to the Tax Office and those who appear as being registered and in operation at the Trade Register. That is, we have 1,106,206 million companies, of which only 802,243 have filed their balance sheets. There are half of them, which are not found anywhere, as being in reality active. I hope that this will be regulated through administrative digitalization, that we will see the databases of the Tax Office and the Ministry of Justice correlated so that they have a margin of error of only a few thousand companies, but not figures of this size", declared the president of the CCIR, Mr. Mihai Daraban.
"The new law replaces the judge delegated to the Trade Register with the commercial registrar. At the same time, a major distinction was made regarding the competence to judge complaints against the commercial registrar's decisions: for individual traders, complaints filed by them are heard at the courts, and complaints filed by legal entities are heard at the tribunal. Similarly, the appeals are moved to the tribunal, respectively the court of appeal. There are many things to criticize in this law, which contains oddities that make up a puzzle that is not well assembled. For example, when electronically establishing LLCs, proof of the subscribed capital and proof of possession of documents regarding property titles are waived, compared to the money laundering law where this proof is required," said lawyer Gheorghe Piperea.
