The new check law takes effect: easing of penalties and a grace period to regularize financial situations.

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New Commercial Code Reforms: Balancing Penalties and Financial Security

Law No. 71.24, which amends and complements Law No. 15.95 concerning the Commercial Code, has officially come into effect following its publication in Official Bulletin No. 7478. This reform introduces significant changes regarding offenses related to issuing checks without sufficient funds. Its aim is to strike a balance between alleviating sanctions and protecting financial rights while promoting secure bank payments in commercial transactions.

Alleviation of Criminal Penalties:

The new law reduces the detention period for offenses related to checks, decreasing it from one to five years previously to a range of six months to three years. It also eliminates the penalization of checks issued between spouses or between parents and children, classifying these disputes as purely civil matters. Thus, victims can only pursue civil action.

In other cases, the payment of the check amount after the complaint is filed leads to the definitive termination of prosecutions, regardless of whether the check issuer is detained or being sought. They can also be released immediately following full payment, even after a final judgment.

Deadline for Financial Rectification:

The law grants the check issuer a one-month period to rectify their financial situation before any arrest measures are enacted, with the option of extending this period by an additional month at the complainant’s discretion. During this time, an electronic bracelet may be applied to prevent any flight risk. Additionally, the financial penalty following the complaint’s filing is reduced to 2% of the check’s value, down from 25%, to encourage the settlement of financial obligations outside of the criminal framework.

Strengthening Preventive Justice and Protecting Transactions:

These modifications fit within a broader initiative aimed at enhancing preventive justice and reducing the coercive nature of financial sanctions. The principle of criminal conciliation is applied at all stages of the dispute, including during the execution of sentences. The law encourages the use of bank payments while limiting cash transactions, thereby enhancing financial transparency and supporting the activities of businesses and merchants.

Expert Opinions:

Economic experts believe that the law successfully balances alleviating sanctions with ensuring the security of commercial transactions, while also minimizing risks associated with non-payment offenses. It effectively protects check beneficiaries and promotes the integration of financial transactions into the formal economy, making checks a secure and guaranteed financial tool.

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