Romania: Recent enactments and amendments in the field of commercial law

• are established as limited liability companies, as defined by Companies Law no. 31/1990;
• are autonomous enterprises in the sense of law 346/2004; and
• are solvent and face no proceedings relating to bankruptcy or liquidation.

The Law expressly states that investments in companies operating in the banking, insurance and reinsurance field, in the capital market and financial mediation, or performing any other financial activities, real property transactions and development, gambling and betting, steel and coal production and commercialisation, shipbuilding, production and commercialisation of weapons and ammunition, of tobacco, alcoholic drinks, substances under national control, psychotropic plants and narcotics, advisory services are excluded from the facilities granted by the Law. (…)