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January 24, 2022
ECONOMY FINANCE&BANKING POLITICS

Liberal Senator Daniel Zamfir wants the members of the BNR Board of Directors no longer be exempted from civil or criminal liability

A legislative initiative of the National Liberal Party (PNL) Senator Daniel Zamfir is designed to amend the Law no.312 on the Statute of the National Bank of Romania (BNR), so that the paragraphs of the law exempting the members of the Board of Directors (CA) from civil or criminal liability will be repealed.

“This legislative proposal aims to amend the Law no.312 on the Statute of the National Bank of Romania, namely to repeal paragraphs (3) and (4) of the Article 25, which exempt the members of the Board of Directors of the National Bank of Romania and its staff in charge with the prudential supervision from civil and criminal liability” reads the explanatory memorandum of the draft law.

According to the initiator, the current form of the paragraphs (3) and (4) of the Article 25 of the Law no.312 on the BNR Statute, “provides a privileged regime for these categories of people, a new type of immunity which is likely to cause an imbalance regarding the liability of all citizens in front of the law, related to exercising their job duties, an immunity that exceeds the constitutional framework”.

Paragraph 3 of the Article 25 of the BNR Statute provides that “the members of the Board of Directors of the National Bank of Romania and its staff in charge with prudential supervision cannot be subject to civil or criminal liability, as the case may be, if the courts find the fulfillment by these persons or the failure to fulfill any action or deed related to the exercise, according to the law, of the prudential supervision attributions, in good faith and without negligence”.

According to paragraph 4 of the same article, “court expenses caused by the judicial proceedings initiated against the persons mentioned by para.(3) shall be borne by the National Bank of Romania”.

The term set for the public consultation on this initiative is May 25, 2018; it was registered by the Senate as the first notified Chamber, in order to be debated.

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