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Senate passes ordinance amending law on measures to protect national economic interests
Klaus Iohannis

Acting on a request for re-examination submitted by President Klaus Iohannis, the Senate on Tuesday passed Government Emergency Ordinance (OUG) 166/2020 amending Law 173/2020 on measures to protect Romania's national economic interests.

Senate resumes its vote on OUG 166/2020 on Tuesday after failing to win 69 votes for passing or rejection, confirms.

OUG 166/2020 replaces "government shareholdership" with "shares held by the government" in Law 173/2020.

Under OUG 166/2020, Law 173/2020 is amended, so that it bans for 2 years the alienation of stocks held by the Romanian government in national corporations, credit institutions as well as any other company in which the government is a shareholder, regardless of the share capital held; at the same time, there is a two-year ban on any operations involving the alienation of stocks held by the government in the same corporations or companies.

The ordinance was initially rejected by Parliament in October 2020, but President Iohannis requested in December 2020 the re-examination of the draft ordinance.

He argued that the adoption of the ordinance was motivated by the government also by the need to counteract the consequences generated by Law 173/2020 on restructuring plans developed by operators with ongoing state aid, such as Complexul Energetic Oltenia S.A. or the Romanian National Air Transport Company TAROM S.A.

The ordinance will also be re-examined by the Chamber of Deputies, the decision-making body in this case.


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