Decree No. 102 / 1945 Coll.
Decret of the President of the Republic on the nationalisation of equity banks
Valid
Effective from 27.10.1945
102.
Decret of the President of the Republic
of 24 October 1945
on the nationalisation of equity banks.
On the proposal of the Government and in agreement with the Slovak National Council, I establish:
The extent of nationalization.
(1) On the day of the publication of this decree, public limited liability companies engaged in banking and money transactions (public limited liability banks) are nationalised and transformed into national enterprises (banks) according to other provisions.
(2) By nationalisation, the rights and obligations of equity banks (paragraph 1) are transferred to banks.
(3) If the bank is cancelled, the liquidation surplus must be removed, if any, to the Treasury.
Replacement.
(1) For shares which are part of the capital of equity banks (Paragraph 1 (1)), the owners are entitled, unless otherwise specified, to compensation corresponding to their general price, calculated on the basis of the official prices of the assets and liabilities of the equity bank on the date of the publication of this decree and, if these prices are not found by an official estimate. the other shareholders' rights shall cease to exist on the date of the publication of this decree.
(2) For the purposes of determining the refund, property intended for social, charitable and similar purposes shall not be taken into account.
(3) The Minister of Finance will decide on the correctness of the general price finding after the hearing of the Bank's Revision Unity.
(4) The Minister of Finance will declare, in the Official Journal of the Republic of Czechoslovakia, Slovakia through the Finance Officer also in the Úradnom vestník, the amount and type of compensation.
(1) For shares (§ 2) which undoubtedly belonged to the occupation and Nazi or fascist regime at the time of the actual end of the occupation, or which belong to the persons listed below, no compensation is granted:
(a) the German Empire, the Kingdom of Hungary, persons governed by public law under German or Hungarian law, the German Party to the Nazi and political parties to the Hungarian and other departments, organisations, undertakings, establishments, personal associations, funds and the special-purpose assets of such schemes or related thereto, as well as other German or Hungarian legal persons; or
(b) persons of the physical nationality of German or Hungarian, with the exception of those who prove that they have remained faithful to the Czechoslovak Republic, have never been guilty against the Czech and Slovak peoples and have either actively participated in the fight for their liberation or suffered under Nazi or fascist terror; or
(c) persons of the Czechoslovak Republic who have been engaged in activities against national sovereignty, independence, integrity, democratic-Republican state form, security and defence of the Czechoslovak Republic, who have been seeking such activities or other persons of their own volition, deliberately supported by any means German or Hungarian occupants at the time of the increased threat to the Republic (§ 18 of Decree of the President of the Republic of 19 June 1945, No. 16 of the Coll., on the punishment of Nazi criminals, traitors and their handlers and on extraordinary people's courts), or on the detention of such activities by persons managing their property or business.
(2) Paragraph 1 (c) shall also apply to legal persons where they may be blamed on the procedure of the body representing the legal person, or where they have failed to exercise reasonable caution in their choice and supervision of the person who is members or shareholders of the property or of the undertaking (s).
(3) In the absence of compensation for shares to a legal person, the proportion of the compensation shall be payable to persons participating in it, unless they fall under the provisions of paragraphs 1 or 2; In doing so, they shall be regarded as belonging to the persons of national administration.
(4) Compensation for shares belonging to persons falling within the provisions of paragraphs 1 or 2 who are no longer due to them shall not be granted to the transferee, except that failure to grant the compensation would not comply with the principles of decency.
(5) The Government may, by regulation, provide that a certain number of persons falling within the provisions of paragraphs 1 to 4 are to be compensated in part or in whole.
(6) The Minister of Finance shall decide whether or not a physical or legal person falls under the provisions of paragraphs 1 or 2 in agreement with the ministers in question, in Slovakia in agreement with the delegates in question.
(1) Compensation for shares (Section 2) is granted:
(a) securities;
(b) cash;
(c) other values.
(2) The Replacement Service is carried out by the Fund of the National Economy, established under the Decree of the President of the Republic of 24 October 1945, No 100 Coll., on the nationalisation of mines and certain industrial enterprises (in others only the Fund).
(3) The refund is payable within six months of the date of publication of the amount and type of the refund in the Official Journal of the Czech Republic (Section 2, paragraph 4).
(4) The provisions of the Decree of 13 January 1928 of 13 January 1928, No 8 Coll., on proceedings in matters falling within the competence of political authorities (administrative proceedings) apply to the refund procedure.
The government shall decide on the use of compensation for shares not granted to persons referred to in Paragraph 3.
(1) The Government, acting on a proposal from the Minister of Finance, made in agreement with the relevant ministers, in Slovakia and in agreement with the relevant delegates, may grant, in addition to compensation, an appropriate contribution from the Fund, to the assets of the local or local authorities or local authorities, on behalf of the local or local authorities, which are solely public-interest associations, as well as public-interest funds. No entitlement to the allowance.
(2) Under the conditions referred to in the preceding paragraph, contributions may be granted mutatis mutandis to physical persons if their nutrition or nutrition of persons they care for under law or moral obligation is threatened by the losses suffered.
Banks and their internal organization.
(1) The competent court shall, with reference to this decree, enter into the land register the transfer of ownership and other rights belonging to the equity bank into the bank on its application.
(2) The provisions of the preceding paragraph apply mutatis mutandis to the indication of the transfer of other rights of a joint-stock bank to a bank where they are entered in official registers or lists.
General regulations.
The assets of the equity bank for social, educational and similar purposes must not be withdrawn from their designation. The same applies to social, educational and similar funds.
(2) The provisions of Article 243 (2) of the General Commercial Code and of Article 202 (2) of the Law of 1875 do not apply to the conversion under Paragraph 1 (1).
Criminal provisions.
(1) Whoever commits a plot to thwart or to make the nationalisation of a stock bank more difficult, will be punished for crime by a heavy prison from one year to five years and by a penalty of up to ten million crowns; in the field of criminal law, the following Articles shall apply: In 1878 the court will also declare the loss of office and the temporary withdrawal of political rights.
(2) Any person who violates certain provisions of this decree or regulations issued under it shall be punished, unless it is a criminal offence, by the district national committee for an administrative offence of up to five million crowns or by a sentence of freedom (prison, lockdown) within six months or both; in the event of non-availability of the fine, a replacement sentence shall be imposed at the rate of guilt within six months. If both penalties are imposed at the same time, the punishment on the free side, together with the replacement penalty, must not be more than six months for an impenetrable fine.
(3) The fines are for the State.
(1) Where a court or district national committee finises an employee, agent, agent or other body of a physical or legal person on whose behalf an offence has been committed pursuant to Paragraph 25, it may say that that person is liable for a fine by common and non-discriminatory means.
(2) This person must, if known to the court (district national committee), be brought to the hearing in the first chair and be entitled to present the facts which may be relevant to the assessment of the case and to make proposals.
(3) The statement on liability should be included in the judgment (criminal record) and the person affected by that statement has the right to refuse it by appeal. In criminal proceedings, the public prosecutor may also appeal if such a statement has not been made. There are rules on appeals against a sentence.
(4) The fines shall be enforced on the person to whom the guarantee has been imposed under the general provisions in force on fines.
(1) In the case of a conviction for a crime pursuant to § 25, paragraph 1, or in the case of an administrative offence pursuant to § 25, paragraph 2, for a sentence on liberty or on money exceeding one million crowns, a judgment (criminal finding) shall be published in one or more daily sheets determined by the judgment (criminal finding) on the expense of the sentenced.
(2) The Court of First Instance (Regional National Committee) shall determine whether the grounds for the judgment (finding), or their substance, shall be published in a version which it shall determine.
The transgressions of this decree are limited in three years.
Final and transitional provisions.
Until the establishment of the Board of Directors (Section 12), the existing authorities shall exercise their powers mutatis mutandis under this decree.
(1) In the case of commitments which are economically unjustifiable, including obligations arising from service contracts, guaranteeing to employees unduly high salaries or provision, rest and other benefits or entitlement to compensation, the bank may, and in order to invite the Minister of Finance, request cancellation or other appropriate adjustments. If no agreement is reached, the arbitration panel shall decide. The provisions on it will be given in particular.
(2) The consent of the Labour Protection Office is not necessary to release the service contracts of the persons referred to in paragraph 1.
(1) The Bank may object to the legal acts carried out by the equity bank (§ 1 (1)) after 29 August 1944 to harm or make it more difficult to nationalise or introduce in its own or foreign interests its assets.
(2) A denunciation may be made within one year of the date of publication of this decree. Otherwise, the provisions of the Opposition Order issued by the Law of 27 March 1931, No 64 Coll.
Participation of banks in non-financial corporations which are not subject to nationalisation under the Decree of the President of the Republic of 24 October 1945, No 100 Coll., on the nationalisation of mines and certain industrial enterprises, or under the Decree of the President of the Republic of 24 October 1945, No 101 Coll., on the nationalisation of certain undertakings in the food industry, either by persons who are physical or legal in exchange for compensation corresponding to their general price on the free market within a reasonable period. The Bank is obliged to seek the approval of the Ministry of Finance for such a measure. It is also appropriate to proceed with the sale of essential assets of such an undertaking.
The Government will issue detailed regulations for the implementation of this decree by regulation.
The legal proceedings, documents and submissions for entries in public books and registers and the official acts necessary for the implementation of this decree shall be exempt from taxes, fees and charges.
The provisions of this decree do not apply to the Czechoslovak National Bank.
This Decision shall take effect on the day of its publication; it shall be carried out by all members of the Government.
Dr Beneš v. r.
Fierlinger v. r.
David v. r.
Gottwald v. r.
Broad v. r.
Dr Šrámek v. r.
Ursines v. r.
Masaryk v. r.
Gen. Svoboda v. r.
Dr. Ripka v. r.
Nosek v. r.
Dr. Šrobár v. r.
Dr. Unedible v. r.
Dr Stránská v. r.
Kopecký v. r.
Laušman v. r.
Děuriš v. r.
Dr Pietor v. r.
Gen. Hasal v. r.
Hala v. r.
Dr Šoltész v. r. o.
Dr Procházka v. r.
Majer v. r.
Dr Clementis v. r.
Lt-Gen Ferjenčík v. r.
Lichner v. r.
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Regulation Information
| Citation | Decree No. 102 / 1945 Coll., on the nationalisation of equity banks |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 27.10.1945 |
|---|---|
| Effective from | 27.10.1945 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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