Act No. 104 / 1950 Coll.
Law on the financing of national and municipal enterprises
Valid
Effective from 01.07.1950
104.
Law
of 13 July 1950
on the financing of national and municipal enterprises.
The National Assembly of the Czechoslovak Republic decided on the following Act:
(1) Undertakings shall transfer to the Fund the assets and liabilities which shall be determined by the Minister responsible for matters in agreement with the Minister for Finance in balance sheets. In agreement with the Minister of Finance, the Minister of Finance may order the undertaking to provide the Fund with the management of transferred assets and liabilities.
(2) The transfer of the commitment to the Fund shall exempt the undertaking from the commitment; there is no need for a lender to be elected. The Fund shall have any objection against the creditor that the undertaking may have exercised.
(3) The Minister for Finance may change the terms of repayment and interest of the liabilities transferred to the Fund.
(4) The undertaking shall pay the Fund an amount equal to the balance sheet value of the commitment transferred; The Fund shall pay the undertaking an amount equal to the balance sheet value of the transferred assets. If the assets or liabilities are transferred to the Fund before or when the joint capital of the undertaking is established, the entitlements of the Fund or the undertaking shall be settled when the joint capital is first established.
(5) Measures of a general nature taken pursuant to paragraphs 1 and 3 shall be declared by the ministries concerned on the relevant official list.
(6) The legal acts, documents and official acts required for transfers under this paragraph shall be exempt from fees and charges for official acts in administrative matters.
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Regulation Information
| Citation | Act No. 104 / 1950 Coll., on the Financing of National and Municipal Enterprises |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 26.07.1950 |
|---|---|
| Effective from | 01.07.1950 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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