Moldova may introduce new rules for making changes to the data of the State Register.
In particular, this is provided for by amendments to the Law on State Registration of Legal Entities and Individual Entrepreneurs, which the parliament adopted in the first reading. A new article is introduced into the law concerning the registration of amendments made to the constituent documents and data entered in the State Register in the event of alienation / acquisition of a share in the authorized capital. This article obliges the parties to submit to the state registration authority documents justifying the transaction, in particular, a notarized transaction for alienation, a court decision or other document confirming the alienation of a share in the authorized capital. Thus, both parties (previous owner and new owner) will be equally responsible for registering changes within the specified time frame. The parties are obliged to submit documents on registration of the mentioned changes within 30 days from the date of the decision to amend the constituent documents or data entered in the State Register. The bill is intended to prevent numerous litigations, as well as non-execution of executive documents, according to which the owners of the company's shares are required to submit the necessary documents to amend the State Register of Legal Entities. The deputies explained the development of this initiative by numerous cases of evasion from changing the data entered in the State Register, when alienating / acquiring a share in the authorized capital of an enterprise. The bill aims to create a legal framework to prevent cases of fraud, money laundering or forgery by fly-by-night businesses or unscrupulous business buyers. // 26.03.2021 — InfoMarket.
