New expenditures for companies: Security risk analysis and fines

Romanian companies set up after June 2012 are required to carry out a physical security risk analysis at the time of commencement of their business, while for companies registered before that date the obligation will come into force in July 2018.

Romanian companies that do not comply with the obligation to adopt the security measures provided by Law no. 333/2003, according to the risk analysis on physical security, are liable to be fined by police officers, gendarmes, and by their mayors or empowered persons with RON 10,000 up to RON 20,000.

Carrying out the risk analysis involves: defining the internal and external parameters that generate and / or modify the risks to the physical security of the unit; establishing the method and working tools; identifying all risks to physical security, impact areas, events and causes of risk, as well as potential consequences; analysis of risks to physical security; estimating the risks of the beneficiary unit; preparing the Risk Assessment and Risk Assessment Report on Physical Security.

According to the norms in force, the companies established under the Romanian companies Law no. 31/1990, irrespective of the nature of the share capital, as well as other organizations that hold assets or values with any title and which are obliged to ensure their security. The regulations refer to entities set up before 12 June 2012, and to those established after that date are required to undertake a risk-based, counter-cost analysis, using the services of valued experts in the field.

Policemen, mayors or their empowered officers are required to verify whether or not the entities respect the law on the protection of objects, assets, values and the protection of individuals. The regulations in force do not set a fixed price that an assessor may require to carry out a physical security risk analysis.

Factors that may influence the price for risk analysis include the area/surface of the space (the price for a pawnshop or office will be lower than the price for a deposit), the complexity of the activity (the evaluation of an area in which alcoholic beverages are sold will be simpler than the assessment of a space where machines are assembled) and the location  (the cost of the move is added to the cost of carrying out a risk analysis).

By | 2018-03-27T17:25:48+00:00 March 27th, 2018|Company Law|0 Comments

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