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CCR declared unconstitutional the Law of Sovereign Fund of Development and Investments
The Constitutional Court of Romania (CCR) says that the Law on the establishment of the Sovereign Development and Investment Fund (FSDI) was adopted by breaching the principle of the separation of powers and the role of Parliament, because the FSDI should have been established through a Government decision and not through a law.
The CCR debated on Wednesday three objections of unconstitutionality formulated separately by 51 deputies belonging to the Save Romania Union (USR) and the People's Movement Party (PMP), 66 deputies belonging to the National Liberal Party (PNL) and President Klaus Iohannis, respectively.
Establishing the identity of the subject to these three notifications, the CCR ordered their joinder.
Following deliberations, the CCR, by a majority of votes, passed the unconstitutionality objections and established that the Law regarding the establishment of the Sovereign Development and Investment Fund SA (FSDI) and the amendment of some normative acts are unconstitutional in their entirety.
The CCR chairman, Valer Dorneanu announced that the law on FSDI's foundation was declared unconstitutional, because this fund was not supposed to be created through a law, but by a Government decision.