Order No.16 of 27th December 2001
Regarding the alteration and completion of the Norms no. 2/2001 regarding the information and the documents required for the insurers' authorization and the criteria to approve the significant holding and the significant persons of the insurers

ISSUER: THE INSURANCE SUPERVISING COMMISSION

PUBLISHED IN: THE OFFICIAL GAZETTE NO. 43 OF 22ND January 2002

The President of the Insurance Supervising Commission, upon the provisions of the article 4(27) of the Law no.32/2000 regarding the insurance companies and the insurance supervision, according to the Decision of the Council of Insurance Supervising Commission of 12th December 2001 by which the alteration of the Norms no.2/2001 was adopted, issues the following order:

SINGLE ARTICLE.

The Norms no. 2/2001 regarding the information and the documents required for the authorization of insurers and the criteria for approving insurers' significant holding and the significant persons enacted by the Order no.2/2001, published in the Official Gazette of Romania, Part I, no. 501 of 24th August 2001,are altered and completed as follows:
- to the article 2, the letter a) of the paragraph 6, will have the following content:
"a) to not be the significant shareholder of an insurance broker, with the exceptions of the state being the significant holder, until de finalization of the privatization process;"

President of the Insurance Supervising Commission
Nicolae Eugen Crisan

Translated by Mihaela Tudor - legal adviser of UNSAR