Way of donations' use to be stricter regulated in Moldova

Chisinau, 18 May /MOLDPRES/ - The law on philanthropy and sponsorship will be updated. The parliament’s commission for economy, budget and finances today approved the report on a draft on amendment of this law.   

The draft provides clear-cut definitions for the notions of philanthropic activity, activity of sponsorship, philanthropist, sponsor, beneficiary of philanthropic and sponsorship activities.   

Also, the list of goals of the philanthropic and sponsorship activities will be revised and extended and the list of potential beneficiaries of these activities will be clarified. 

The record and way of use of donations, the transparency of the philanthropic and sponsorship activities will be stricter regulated. Also, the consequences of the infringement of the legislation on the philanthropic and sponsorship activity are clearly stipulated in the draft.   

At the same time, the provisions on the non-commercial organizations, including the way of creation, liquidation and carrying out of their work, will be abrogated.  

Photo: Parliament