Administration of a Corporation – General Principles

Abstract

According to recent amendments brought to the Romanian Company law, a company may be administrated under two alternative systems: the unitary one (one-tier system) and the dualist one (two-tier system). The specific mechanisms of these administration systems were defined by Romanian law to meet the requirements of the OECD Corporate Government Principles and the EU Directives and Regulations. The paper explains the general principles and rules that make the difference between these two specific administration systems.