This is provided for in the law that was passed today by Parliament on second reading.
The document, drafted by the Ministry of Labor and Social Protection, is aimed at harmonizing the Moldovan legislation with that of the European Union in the context of preparations for EU accession.
According to the document, by January 1, 2028, each company, whose shares are admitted to trade on the regulated market, should reach at least one of the two gender thresholds stipulated by the European directives.
Women (or men if there are fewer of them in the company’s management) will have to occupy at least 40% of the boards of directors of JSCs. And in the management of JSCs, including executive directors and board members, at least 33%.
Information will be published
Companies will be required to publish information annually on the gender structure of the management bodies and the progress made.
In the event that two or more candidates have the same qualifications, priority will be given to the candidate belonging to the gender less represented in the governance structure.
The Ministry of Labor and Social Protection will prepare an annual report on the implementation of the gender policy. And the National Financial Market Commission will publish a list of companies that have achieved gender balance targets, as well as those that have violated this commitment, with reasons and corrective measures.
Joint stock companies that fail to set individual quantitative targets for improving gender balance risk being fined up to 75,000 lei.
And the lack of transparency in the procedure of selection and appointment of members of management bodies may be penalized with a fine of up to 50,000 lei.
Currently, 12 companies are listed on the Moldovan Stock Exchange. The data show that 60% of them already meet at least one of the objectives set out in the European directives.
