Mentions:
1. The law applies to legal entities subject to the obligation to register in the trade register. They will submit upon registration, on an annual basis or whenever an amendment occurs, a statement regarding the legal person’s real beneficiary, in order to be registered in the Register of the companies’ real beneficiaries (ONRC);
2. An affidavit of the legal representative of the aforementioned legal person includes the identification data of the real beneficiaries, as well as the ways in which the control over the legal person is exercised;
3. If the legal representative of the legal persons to whom this law applies does not comply with the obligation to submit the statement regarding the identification data of the real beneficiary, the deed will be considered contravention and sanctioned with a fine between RON 5,000 and RON 10,000;
4. If, within 30 days from the date of application of the contravention sanction, the representative of the legal person did not submit the statement regarding the identification data of the real beneficiary, at the request of the National Trade Register Office, the court or, as the case may be, the specialized court may render the decision to dissolve the company;
5. Also, the institutions that function as of the date of entry into force of the regulation on preventing and fighting against money laundering and terrorist financing comply with the provisions of this regulation:
a) until January 17, 2020 for the following categories of reporting entities:
- credit institutions as Romanian legal persons and the branches of the credit institutions as foreign legal persons;
- financial institutions as Romanian legal persons and the branches of the financial institutions as foreign legal persons;
- private pension fund administrators, on their own behalf and for the private pension funds they manage, except for occupational professional houses of pension;
- gambling service providers;
- auditors, accounting experts and authorized accountants, censors, persons providing tax, financial, business or accounting advice;
- notaries public, lawyers, judicial executors and other persons exercising liberal legal professions, in certain situations;
- service providers for companies or trusts;
- real-estate agents;
- other entities and natural persons who market, as professionals, goods or services, insofar as they carry out cash transactions whose minimum limit is the equivalent in RON of EUR 10.000.
b) within 12 months from the entry into force of this law, for companies registered up to the date of entry into force of this law in the trade register, with the exception of national companies and enterprises, as well as companies wholly or in majority owned by the state.
