The Transposition of Directive (EU) 2019/1151 into Romanian National Law

Abstract

"Directive (EU) 2019/1151 of the European Parliament and of the Council amending Directive (EU) 2017/1132 as regards the use of digital tools and processes in company law, which was adopted by the European Parliament on 20 June 2019 and entered into force on 31 July 2019 (hereinafter as: Directive), is the first of two directives in the company law package. Promoting the use of digital tools and processes is the main purpose of the Directive, which involves three main things, i.e. enabling: online filing and accessing of company information, the online formation of certain types of companies, and the online registration of branches. In Romania, the transposition deadline of the Directive has been extended to 1 August 2022, with the authorization of the European Commission. The recent legislative evolution in the field of company law within the Romanian national law gives cause for hope. However, a normative act aiming at the implementation of the Directive into Romanian legislation is still far from completion, so the transposition procedure remains to be an ongoing process. The legislative evolution of the Romanian company law is quite dynamic despite the significant delay in the transposition of the Directive."