In amending the Law no. 31/1990, the transparency increasing in fulfilling the position and responsibility of managing executive offices of trading companies (especially the administrators is being regulated. Thus the following amendments have been brought:
1) Separation of supervision position towards the decision making ones; 2) Elaborating the administrator legal responsibility frame to the company with “non-executive” position;
3) Introducing the definition of independent administrator. Amending the law, we leave the “Monist” conception for the “Dualist” system for the joint-stock company coming from German legislation. Introducing the supervision council is done under the main purpose as to control the way under which the directors manage the company, as they effectively do it. The director’s independence of the supervision council is provided as their revocation can be incident only for severe reasons and under legal verification. Introducing the “dualist” system has practical implications, as under the circumstance of European Union adherence from the 1st of January 2007, the new system has provided its compatibility to the provisions of Regulation regarding the European Company no. 2157/2001 and Directive 2001/86/CE.