ORDER NO. 11 OF 16 December 2002
regarding the alteration of the Order of the President of the Insurance Supervising Commission no.9/2002 for the approval of the Norms referring to the fulfillment of the law in the compulsory third party liability insurance and the approval of the insurers to sell such kind of insurance in 2003.

ISSUER : INSURANCE SUPERVISING COMMISSION
PUBLISHED IN: THE OFFICIAL GAZETTE NO. 920 OF 17TH December 2002

Taking into account the dispositions of the articles 5, 53 and 67 of the Law no.136/1995 regarding the insurance s and the reinsurances in Romania as they were altered by the article 45(4) of the Law no.32/2000 regarding the insurance companies and the insurance supervision,
Pursuant to the article 4(27) and the article 47 (2) (k) of the Law no.32/2000 regarding the insurance companies and the insurance supervision,
According to the Decision of the Council of the Insurance Supervising Commission of 12 December 2002, by which there were approved the alterations to the Norms referring to the fulfillment of the law regarding the compulsory third party liability motor insurance and the authorization of the insurers to sell such insurance in 2003, approved by the Order no.9/2002, published in the Official Gazette of Romania, Part I, no.882 of 7th December 2002,

The President of the Insurance Supervising Commission issues the following order:

ART. 1.
The Article 15(1) of the Norms regarding the fulfillment of the law in respect of the compulsory third party liability motor insurance and the authorization of the insurers to sell this insurance in 2003, approved by the Order of the President of the Insurance Supervising Insurance no.9/2002, published in the Official Gazette of Romania, Part.I, no.882 of 7th December 2002, is altered as follows:

" ART. 15
(1) The application for authorization together with the afferent documentation, according to the present Norms, filed within 5 calendar days from the date of the publication of the present norms in the Official Gazette of Romania, Part. I, will be settled within 12 days from this date, the communication of the settlements will be effected in the same day for all the companies meeting the above date."

ART. 2.
The compulsory insurances Department from the Insurance Supervising Commission will ensure the carrying out of the present order provisions.

The President of the Insurance Supervising Commission,

Nicolae Eugen Crisan