Romania: Bearer actions become history. The law obliging firms to give up this type of titles


March 2 2018

According to a draft law drafted at the Ministry of Justice level, companies will no longer have the right to issue shares to the bearer, and companies that have shareholders today having such securities will be obliged to convert them into nominative shares within one year and half, writes .

The draft law removes the possibility for joint-stock companies to issue shares to the bearer and gives an 18-month term to convert shares to the bearer into nominative shares in the case of joint-stock companies already registered with the Trade Registry.

For companies that will not convert shares to bearer, the sanction of judicial dissolution will be imposed.