On 5 November 2020 Law no. 223/2020 for simplifying and eliminating bureaucracy regarding transfer of shares and payment of share capital (“Law 223/2020“) came into force. Law 23/3030 repels some of the most impactful red tape provisions of Companies Law no. 31/1990 (“Companies Law“). Law 223/2020 eliminates the provisions that regulated the two-step procedure which …
Amendments to the Energy Law
On 15 December 2020 a law amending the Energy Law no. 123/2012 (“Energy Law“) was passed under no. 290/2020 (the “Amending Law“). The Amending Law, among others, transposes at a national level the provisions of Directive (EU) 2019/692 of the European Parliament and of the Council of 17 April 2019 amending Directive 2009/73/EC concerning common …
Simplification of trade registry formalities
On 26 December 2020 Order no. 6974/C/2020 amending and supplementing the methodological rules on the keeping of trade registers, recording and release of information (“Order“) has entered into force .The Order simplifies some of the formalities companies have to perform in order to register operations with the trade registry. The main amendments on incorporation of …
Amendments to Mining Law
Mining Law no. 85 of 18 March 2003 has recently been amended by Law 275/2020. The recent amendments cover several areas, such as: payment of royalties due for certain types of mining activities, transfer of mining licenses that are pending approval for entry into force, legal regime of mining cavities, approval formalities and entry into …
New state aid scheme in the renewable energy sector
A new state aid scheme supporting investments in the production and distribution of heat from renewable energy sources (such as biogas, biomass and geothermal) (“State Aid Scheme“) has entered into force in December 2020. The State Aid Scheme is rooted in the European Green Deal Investment Plan and the Commission’s Guidelines on State aid for …