Romanian Parliament – Law no. 70/2015 of April 2, 2015
Law no. 70/2015 for strengthening financial discipline on cash receipts and payments and for amending and supplementing the Government Emergency Ordinance no. 193/2002 on the introduction of modern payment systems
Effective as of April 12, 2015
The consolidation from September 29, 2020 is based on the publication in the Official Gazette, Part I no. 242 of April 9, 2015 and includes the amendments brought by the following documents: GEO 32/2016; L 344/2018;
Last amended on January 6, 2019.
The Romanian Parliament shall hereby adopt this law as follows.
CHAPTER I
Measures to strengthen financial discipline on collection operations and cash payments
Art. 1. – (1) The operations of receipts and payments performed by legal persons, authorized natural persons, individual enterprises, family enterprises, free professionals, self-employed individuals, associations and other entities with or without legal personality from / to any of these categories of people shall only be achieved through tools of cashless payment, defined by law.
(2) The provisions of this chapter shall not apply to the State Treasury, credit institutions, electronic money institutions, institutions which provide payment services, authorized by the National Bank of Romania or authorized in another Member State of the European Union and notified to the National Bank of Romania, according to the law, non – banking financial institutions and entities that carry out foreign exchange operations, defined according to the law, for operations specific to the activity for which they have been authorized, as well as gambling operators.
(3) The provisions hereof shall also apply to collection operations and payments in foreign currency made on the territory of Romania. The compliance with the limits provided for in this chapter shall be made according to the currency exchange rate, communicated by the National Bank of Romania, on the date of performance collection or payment operations.
Art. 2. – For the purposes hereof, the following terms are defined as follows:
a) fragmented collection – the fractionation of the amount to be collected in several instalments, to avoid the cash collection ceiling established by law;
