Companies where the State and the administrative units directly or indirectly hold a majority stake may no longer grant to their reps remunerations for general meetings of shareholders, according to an emergency ordinance approved by the Gov’t.

The act amends Government Ordinance 26/2013 on strengthening financial discipline at the level of economic operators where the state or administrative-territorial units are majority or sole shareholders or hold directly or indirectly a majority stake, according to Hotnews.

According to the Government, the ordinance adopted also says that the state and territorial administrative units, in its capacity as a shareholder in companies that directly or indirectly hold sole stake or majority, grants warrants free of retribution to its representatives in the general meetings of shareholders of these companies.

The government claims that it took account of the obligation to ensure equal treatment between a shareholders and the need for measures that lead to cost optimization in companies where the state or administrative-territorial units are sole shareholders or majority ones, or hold directly or indirectly a participation that ensures majority.