Amendments to law on insurance entered into force

Chisinau, 3 January /MOLDPRES/- The amendments to the Law on insurance, which concerns exposing for sale the shares newly issued by the insurers, entered into force today once published in the Official Journal of Moldova.

The amendments are related to the procedure of cancellation, issuance and sale of the participation shares held by the shareholders of the insurer who do not meet the legal framework requirements.

According to the new provisions, depending on the situation, the management bodies of the insurer and the special administrator will be given the right to exhibit for sale the newly issued shares at a reviewed price.

The supervisory authority will be able to extend the term of sale of the newly issued shares with periods of at most three months by three times at most, with the possibility of changing their price.