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the lessee or its enterprise), the lessee may request compensation from
the lessor of the damages it incurs.
The provision of the Abrogated Law stating that the agreement
may not be terminated for a minimum period of four years is not pre-
served under Law No. 6361.
Conclusion
Law No. 6361 abrogated the Abrogated Law and the by-law No.
90 through its entry into force on December 13, 2012. This law regu-
lates the financial leasing, factoring and financing companies and the
agreements which fall under its scope. These regulations introduce cer-
tain material changes.
The definition of the lessor which may enter into financial leasing
agreements is widened. The agreement may be executed in writing,
and the leased good shall be annotated or registered to the land registry,
to its own registry or to the special registry kept by the Association.
A minimum term of validity of the agreement is not regulated.
The Lessee may transfer the agreement with the written approval
of the lessor. The lessor may transfer ownership of the leased good to
another lessor by notifying the lessee. If the agreement grants a pur-
chase right, in the event the lessee does not return the leased good at
the end of its term, subject to certain conditions, the lessor may unilat-
erally transfer ownership of the leased good to the lessee.
If the lessee defaults in the payment of the lease price and does not
make the payment within the specified period, defaults in the payment
three times, or two times in a row in a given year, the lessor may ter-
minate the agreement.
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NEWSLETTER 2012