Specific legal stipulations

The Financial Supervisory Authority publishes the documents it issues according to the existing legal provisions.

PRIVATE PENSION SYSTEM SECTOR

1. Law no. 411/2004 on privately administered pension funds, republished, with subsequent amendments and completions

a) The decision to withdraw the authorization of a privately administered pension fund
Art. 22. - (1) The decision to reject the application for authorization of the pension fund or to withdraw the authorization, as the case may be, may be appealed to the competent administrative contentious court, according to the law.
(2) Within 10 calendar days from the date of finality of the decision mentioned in par. (1) by not contesting it or by the expiration of the contestation period or, as the case may be, from the date of finality and irrevocability of the court decision rejecting the appeal, the Commission publishes the announcement regarding the withdrawal of the authorization in the Official Gazette of Romania, Part IV , as well as in two central dailies.

b) The decision to withdraw the administration authorization of the administrator of a privately administered pension fund
Art. 81. - (1) The Commission withdraws the administration authorization of the administrator, in one of the following situations:
(…)

(2) The decision to withdraw the administration authorization, written and motivated, shall be communicated within 5 working days from the date of its adoption.

(3) The procedure for withdrawing the management authorization shall be laid down by Commission rules.

(4) Within 10 calendar days from the date of finality of the decision mentioned in par. (2), by not contesting it or by the expiration of the contestation period or, as the case may be, from the date of finality and irrevocability of the court decision rejecting the appeal, the Commission publishes the announcement regarding the withdrawal of the authorization in the Official Gazette of Romania, Part IV- a, as well as in two central dailies.

c) The announcement regarding the establishment of the measure of special administration of a privately administered pension fund
Art. 103. - (1) The measure of establishing the special administration or of appointing the special administrator may be challenged at the competent administrative contentious court, according to the law.
(2) The announcement regarding the establishment or revocation of the special administration, as well as the designated special administrator shall be published by the Commission in the Official Gazette of Romania, Part IV, and in two central dailies.

d) The announcement regarding the withdrawal of the approval of the depositary of the assets of a privately administered pension fund, under the conditions provided in art. 130 and 131 of the Law
Art. 131 - (4) The Commission publishes the announcement regarding the withdrawal of the depositary's approval in the Official Gazette of Romania, Part IV, as well as in two central dailies, within 5 working days from the decision to withdraw the depositary's approval.

2. Law no. 204/2006 on voluntary pensions, with subsequent amendments and completions
a) The decision to withdraw the authorization to administer the administrator of an optional pension fund
Art. 38. - The Commission withdraws the administration authorization of the administrator in one of the following situations:
(…)
Article 40, para. (1) The decision to reject the establishment or administration authorization or the decision to withdraw the administration authorization, written and motivated, shall be communicated within 5 calendar days from its adoption and may be appealed to the competent court, in accordance with the provisions of the Law on administrative litigation no. 554/2004, with subsequent amendments and completions.
(5) Within 10 calendar days from the date of expiration of the appeal period or, as the case may be, from the date of finality and irrevocability of the court decision resolving the appeal, the Commission publishes the announcement regarding the withdrawal of the administration authorization in the Official Gazette of Romania , Part IV, as well as in two central dailies.
b) The decision to withdraw the authorization of an optional pension fund
Art. 54. - Within 10 calendar days from the date of expiration of the appeal period or, as the case may be, from the date of finality and irrevocability of the decision resolving the appeal, the Commission publishes the announcement regarding the withdrawal of the authorization in the Official Gazette of Romania, Part IV, as well as in two central dailies.
c) The announcement regarding the establishment of the measure of special administration of an optional pension fund
Art. 69. - The announcement regarding the establishment or revocation of the special administration, as well as of the designated special administrator shall be published by the Commission in the Official Gazette of Romania, Part IV, as well as in two central dailies.

3. Law no. 1/2020 on occupational pensions
a) The decision to withdraw the authorization to administer the administrator of an occupational pension fund
Article 12 para. (4) - Within 10 calendar days from the date of expiration of the appeal period or, as the case may be, from the date of the finality of the court decision by which the appeal was resolved, A.S.F. publishes the announcement regarding the withdrawal of the administration authorization in the Official Gazette of Romania, Part IV, and on the website of the A.S.F.
b) The announcement regarding the withdrawal of the authorization of the occupational pension fund
Article 66 para. (3) - Within 10 working days from the date of expiration of the appeal period or, as the case may be, from the date of the finality of the court decision by which the appeal was resolved, A.S.F. publishes the announcement regarding the withdrawal of the authorization of the fund in the Official Gazette of Romania, Part IV, and on the website of the A.S.F.
c) The notice regarding the withdrawal of the depositary's approval of the occupational pension fund's assets
Article 125 para. (6) - Within 10 working days from the date of expiry of the appeal period or, as the case may be, from the date of finality of the court decision resolving the appeal, the Authority shall publish the notice on withdrawal of the depositary's notice in the Official Gazette of Romania, Part IV, and on the ASF website
d) The announcement regarding the establishment or revocation of the special administration and the appointment of the special administrator

Art. 74 - The announcement regarding the establishment or revocation of the special administration, as well as of the specially designated administrator is published, by the A.S.F., in the Official Gazette of Romania, Part IV, and on the website of the A.S.F.