Decree of the Foreign Trade Minister No. 111 / 1969 Coll.
Decree of the Foreign Trade Minister on a general foreign exchange permit for organisations authorised to do foreign trade
Valid
Effective from 06.10.1969
111
DECLARATION
Minister for Foreign Trade
of 10 September 1969
on a general foreign exchange permit for organisations authorised to operate abroad
The Foreign Trade Minister of the Czechoslovak Socialist Republic, in agreement with the Minister of Finance of the Czechoslovak Socialist Republic, provides, pursuant to Section 7a (2) of Act No. 107 / 1953 Coll., on the Foreign Exchange Economy, as amended by Act No. 64 / 1958 Coll. ("the Act '):
(1) In accordance with Article 6 (6) (b) of the Act, foreign trade organisations shall be authorised to enter into contractual obligations in proportion to their foreign trade in relation to imports or exports of goods *) or to carry out activities where such organisations or organisations for which the import or export of goods or the pursuit of activities is to be carried out have foreign exchange facilities with the relevant Czechoslovak bank, or in other specified ways * *), provided that they are required to fulfil the obligations of those contractual obligations. This general authorisation shall include, when ensuring the necessary foreign exchange means, the authorisation to conclude contracts relating to the execution of such obligations or the recovery of claims from such legal relationships.
(2) In exchange transactions (Sections 420 and 424 of the International Trade Code No. 101 / 1963 Coll.), imports and exports of goods are assessed separately under this Decree. the import of goods in such transactions shall be considered as using foreign exchange funds which must be secured in advance in accordance with paragraph 1.
(3) The authorisation referred to in paragraph 1 shall not apply to exports of goods for a credit of more than 1 year.
A general authorisation pursuant to § 6 (6) (b) of the Act shall be granted to organisations entitled to foreign trade to recognise obligations under the contracts referred to in § 1 if there are undisputed reasons.
Where the law refers to foreign trade undertakings, they shall be understood as approved organisations for foreign trade.
Decree No 62 / 1957 of 5 January 1957 of the Minister for Foreign Trade and the rules and instructions accompanying it are hereby repealed.
This decree shall take effect on the day of its publication.
Minister:
Ing. Tabacek v. r.
*) It does not therefore concern the rights of inventions, trademarks and protected designs and the use of production and technological knowledge (know-how).
* *) For 1969 it is regulated by the "Terms and Conditions of the Czechoslovak State Bank for the Implementation of Foreign Exchange Market Regulation" of 3 December 1968.
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Regulation Information
| Citation | Decree of the Foreign Trade Minister No. 111 / 1969 Coll., on General Foreign Exchange Authorisation for Foreign Trade Authorization Organisations |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.10.1969 |
|---|---|
| Effective from | 06.10.1969 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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