Moldovan cabinet approves civil code in new version

Chisinau, 28 March /MOLDPRES/ - The government, at a today’s meeting, approved a draft law on the amendment and completion of the Civil Code of Moldova. This is the first revision of the Civil Code, after its adoption in 2013, which brings friendly changes, both to the business environment and for citizens,  through a new regulation of the contractual relations, the government’s communication and protocol department has reported.

Thus, the amendments will contribute to the modernization of the civil law through the adjusting of its provisions to the latest legislative developments on the international stage. Referring to this subject, the PM noted that the approval of the document represented an important step in carrying out the small reform in the justice sector.    

The draft is aimed to ensure the exactness and predictability of the civil legislation, protection of the validity of contracts, as well as turning more responsible the managers of the private law entities. At the same time, the document will enhance the uniform enforcement of the legislation and will ease the work of practitioners in the sector.

Also, the draft will bring new provisions to the succession law, including through the change of the term of opening the inheritance. Thus, while the present system sees that, once the inheritance opened, persons have option to accept it or renounce it in a six-month period, the new stipulations establish the transmission of the inheritance immediately for the benefit of all heirs. The amendments will also refer to the replacement of the contract on investments by the contract on sale and purchase of the future asset. This will bring numerous facilities to investors and will enhance the protection of consumers, including by the ban of the provision on the payment of the 100 per cent of sum in advance.    

The enforcement of the provisions of the document, worked out during four months, will improve the quality and efficiency of the justice act, will combat more efficiently corruption and will ensure the implementation of measures through which the justice sector will contribute to the creation of a friendly climate to the sustainable development of the economy. 

The document is to be presented to parliament for consideration and adoption.