Moldovan parliament makes amendments to Contravention Code

Chisinau, 14 July /MOLDPRES/ - The term of stocking information on credit history will be reduced from seven to five years. The parliament adopted a draft law providing for a string of amendments to the Contravention Code and the law on the National Bank of Moldova (BNM) in the last reading today.  

Under the draft, the decision to reduce the stocking period to five years was taken after consultation with international experts. According to the latter, the present term of seven years is an excessive one. Also, the term of issuance of the credit report was shortened from five to two days.  

Another amendment deals with giving right to credit history’s offices to get information from legal entities of public and private law on the deposit of securities and real estate and about the observance of the obligations before the national public budget, as well as about the fulfillment of the court decisions on final and irrevocable causes.   

The draft establishes also a new procedure of externalization of services of formation, processing and preservation of credit histories. The externalization is to be carried out only based on a notification by the National Financial Market Commission.  

(Reporter A. Zara, editor L. Alcaza)