Decree of the Federal Ministry of Agriculture and Nutrition and Chairman of the Czechoslovak State Bank No. 120 / 1985 Coll.
Decree of the Federal Ministry of Agriculture and Nutrition and President of the Czechoslovak State Bank on the financing of the reproduction of basic funds in single agricultural cooperatives and joint farms
Valid
Effective from 01.01.1986
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120
DECLARATION
Federal Ministry of Agriculture and Nutrition and Chairman of the Czechoslovak State Bank
of 7 December 1985
on the financing of the reproduction of basic funds in single agricultural cooperatives and common agricultural holdings
The Federal Ministry of Agriculture and Nutrition in agreement with the Federal Ministry of Finance, the State Arbitration of the Czechoslovak Socialist Republic, the Ministry of Agriculture and Nutrition of the Czech Socialist Republic and the Ministry of Agriculture and Nutrition of the Slovak Socialist Republic pursuant to § 14 (4) and § 97 (1) (b) of Act No. 122 / 1975 Coll., on Agricultural Cooperatives, and the President of the State Bank of Czechoslovak according to § 7 (5) (d) of Act No. 144 / 1970 Coll., on the State Bank of Czechoslovak, provides:
Subject matter and scope of the adjustment
This decree provides for the creation and use of the Investment Fund and other resources and for the financing of the reproduction of basic funds and other tangible assets in single agricultural cooperatives and in joint agricultural holdings (hereinafter referred to as "cooperative '), carried out in a supplier's or under its own direction.
Basic appropriations
(1) The basic means shall be separate articles or sets of articles or combined technological and building units, which as a whole have a separate technical economic purpose and which have an operational technical function of more than one year and whose cost is at least 5000 CZK. The basic means are land, buildings and buildings without account being taken of the purchase price, unless they are real cultural monuments.
(2) The basic appropriations shall also include items acquired by the cooperative in the framework of non-investment expenditure on the development of science and technology, (1) if they can be considered as basic appropriations under paragraph 1.
(3) The basic means are also permanent crops (except forest) with a fertility period of more than 3 years if they form a complex which has at least 100 trees or 200 bushes.
(4) Basic appropriations shall be divided into:
(a) the basic means used;
(b) basic funds in reserve;
(c) essential means of preservation.
(5) The basic funds in the reserve are:
(a) the basic funds which are intended to be exchanged for basic funds excluded by the cooperative from use as a result of damage or repair (operational reserve);
(b) the essential resources excluded from use which have a permanent designation for the cooperative (capacity and assortment reserve).
(6) The essential means in the preservation are the basic means which the cooperative does not use for reasons of state interest and have been put into preservation with the approval of the relevant Ministry of Finance; that consent is not required for essential means intended for civil defence and defence purposes.
(7) The basic means are not:
(a) stocks,
(b) other tangible assets (§ 3);
(c) investment (Section 6).
Other tangible assets
(1) Other tangible property is works of art, 2) unless they are an integral part of built buildings, objects of museum and gallery value, permanent exhibition files and library collections of libraries of the single system or other collections.
(2) Other tangible assets are also movable and immovable cultural monuments and their collections, which cannot normally be valued according to generally binding legislation, e.g. pricing.
(3) Surface and ground water, forests, mineral deposits and minerals, caves, geodetic network points, measuring equipment and signals at these points and map funds are also considered as other tangible assets.
Reproduction of basic assets and other tangible assets
(1) Reproduction of basic funds and other tangible assets includes:
(a) preparation and security of construction (Section 5);
(b) project documentation including copyright, 3)
(c) investment (Section 6);
(d) maintenance and repair (Section 7).
(2) The cooperative shall ensure that basic funds and other tangible assets are reproduced in accordance with the National Economy Development Plan and that they are spent in accordance with the relevant legislation and with the highest economy.
Construction preparation and security
(1) Construction preparation and security shall include costs and, where appropriate, expenditure on:
(a) the organisational and preparatory activities of the investor, i.e.:
1. the development of investment projects;
2. project tasks and studies of building sets,
3. the activities of the Directorate-General for Building Enterprises and Plant;
4. technical supervision of the investor,
5. commit and take over completed buildings or their integrated parts;
6. preparation and start of operations including complex testing and testing operations;
7. preparation of beakers for built-in operations;
8. resettlement of the population;
9. comprehensive processing of documentation of the actual implementation of the construction,
10th final evaluation,
(b) the engineering and completion activities of the supplier;
(c) technical assistance provided by project organisations;
(d) equipment for operations and other built-up equipment;
(e) administrative and local charges related to the preparation and security of construction, periodic penalty payments, late payment, damages related to investment construction and other intangible costs and surcharges, any interest on loans (domestic and foreign) and foreign exchange costs linked to the acquisition of foreign exchange at the Czechoslovak Commercial Bank, a. s.,
(f) licences and other similar authorisations for future production or operation.
(2) Costs and, where appropriate, expenditure on the preparation and security of construction are also included:
(a) projects for the economic and technical treatment of land;
(b) projects for exhibitions and fairs abroad,
(c) project contests;
(d) development studies of construction,
(e) land planning documentation and land planning documents, including urban competitions;
(f) geological survey.
Investments
(1) Investments are material and financial resources spent on the acquisition of new basic funds and on the reconstruction, modernisation, superstructure and extension of existing basic funds and real estate cultural monuments (Section 3 (2)).
(2) Investments are also material and financial resources spent on:
(a) purchase (transfer) of basic funds;
(b) the acquisition of basic funds from foreign tangible resources for use abroad;
(c) payments for the permanent withdrawal of agricultural land for investment construction4) and funds provided for measures to eliminate economic damage, 5)
(d) contributions for the temporary withdrawal of agricultural land from agricultural production for construction site facilities, 4)
(e) models or prototypes of the nature of the basic means which the cooperative has duly assumed in connection with the use of the invention, improvement design or design)
("other investments').
(3) The investment under its own control is material and financial resources spent on investment construction carried out and provided mainly by members and, where appropriate, by cooperative workers (investors).
(4) Reconstruction is an intervention into the design and technological part of the existing base vehicle which results in a change of technical parameters and, where appropriate, a change in function and purpose of the base vehicle.
(5) Modernisation shall be such as to replace parts of the basic device with more modern parts when applying the elements of technical progress in order to remove the effects of wear and wear from the effects of technical development, to increase the equipment of the basic device or, where appropriate, to extend its applicability.
Maintenance and repair of basic assets and other tangible assets
(1) Maintenance is the regular care of essential resources and, where appropriate, other tangible property which slows down the course of the physical wear process, is preceded by its consequences so as to ensure their operational condition and safe operation, or to eliminate minor defects.
(2) By repair, partial physical wear or damage shall be removed in order to put the basic device and, where appropriate, other tangible property into operational condition, its technical characteristics restored, functional, visual and safety deficiencies removed; their operational quality, performance and safety are restored for buildings and buildings. The most recent knowledge of science and technology, in particular the technology of their implementation, the choice of materials and the standardisation of components, is applied in repairs.
(3) Repair of machinery and equipment may also be carried out by exchange. 7)
GROUNDS FOR FINANCING THE REPRODUCTION OF BASIC INSTRUMENTS AND OTHER COMPOUNDS
Financing of construction preparation and security costs
The cost of building preparation and security is financed by the cooperative from operating (non-investment) funds with possible time resolution. 8)
Financing of maintenance and repair costs of basic assets and other tangible assets
The costs associated with the maintenance and repair of basic assets and, where appropriate, other tangible assets (including project documentation for repairs) shall be financed by the cooperative from operational (non-investment) funds and, where appropriate, from the repair fund.
Financing of project documentation and investment
The project documentation and investment is financed by the cooperative from its own resources, investment loan, funds allocated by the authorities of the state economic management of agriculture, 9) or subsidies from the State Fund, contributions from other socialist organisation10) (hereinafter referred to as "organisations') and from other sources.
INVESTMENT FUND
(1) The cooperative investment fund shall be composed of:
(a) an allocation of actual amount of depreciation of basic funds;
(b) a profit allocation;
(c) revenue from the sale of basic funds and investments;
(d) from the resources allocated by the authorities of the State Economic Management of Agriculture, (9) from State funds and, where appropriate, from other sources;
(e) contributions from other organisations, 10)
(f) transfer from other funds where provided. 11)
(2) The allocation of depreciation of basic funds shall be carried out during the year at the actual amount of the actual amount; the offsetting of funds in the investment account up to the actual annual amount of depreciation shall be carried out by the cooperative within 5 working days of the deadline set for the submission of the annual accounts.
(3) The allocation of profits to the IF shall be made during the year by advance payment equal to the actual needs of the available resources created; the actual allocation may be increased above the planned annual amount up to the amount of excess investment needs against the plan.
(4) In the case of the balance of the undistributed profit (s) at the end of the year, after the performance of the levy obligations and the implementation of the specified allocations to all funds, including the inclusion of the other use of profit, a further allocation to the IF may be made for use in the following period.
(5) The investment fund can be supplemented from the reserve fund (12) up to the actual investment needs in a given year.
(6) The investment fund is used:
(a) to finance planned investments (including housing) and project documentation (including copyright);
(b) to finance other investments;
(c) to cover repayments of investment credits;
(d) to cover contributions and membership shares when making joint investments under special regulations, 10)
(e) for other purposes in accordance with specific provisions;
(f) to provide one-off non-refundable contributions to construction housing cooperatives, as decided by the cooperative, to compensate for the difference between the minimum and the actual membership share of the stabilising cooperative flat on the change of its user, for flats whose construction began before 1 January 1977.
(7) The funds of the Investment Fund shall be deposited in a separate account with the Czechoslovak State Bank ("the Bank '). During the year, free funds may be transferred to an overdraft account.
(8) Unused funds of the IF shall constitute a transferable balance that may be used for the purposes to which the Fund is serving in subsequent years; advance payments made during the year shall be kept at least at the end of the year so that the negative balance of the IF is not recognised.
(9) Transfers from the investment fund to other cooperative funds are not allowed.
BACKGROUND AND CONDITIONS FOR FINANCING PROJECT DOCUMENTS AND INVESTMENTS
Documentation for financing project documentation and investment
(1) The cooperative must submit to the branch of the bank:
(a) investment plan, 13)
(b) a financing plan for investment construction;
(c) the nominal list of buildings. 13)
(2) The supporting documents submitted pursuant to paragraph 1 shall comply with the State Plan, the Cooperative Economic Plan as confirmed by the superior authority and the results of the procedure for the inclusion of the buildings in the draft implementation plan.
(3) For all buildings over 10 million CZK of budgetary costs (Titles II to VIII of the general budget of the construction), cooperatives submit to the branch of the bank before starting financing:
(a) a registration document for the planned construction (14) (as a basis for financing project work);
(b) the approved general budget of the construction, including the recap of the costs to the general budget15) and the recap of the costs according to the integrated parts of the construction, which are divided into whole parts, 16)
(c) a registration document for the building being opened. 14)
(4) In the case of buildings for which subsidies are granted from state funds or loans, the cooperative shall provide the branch of the bank with the supporting documents referred to in paragraph 3 (b), irrespective of the amount of budgetary costs and the list of buildings subsidised from state funds.
(5) For permanent crops (§ 2 (3)), the cooperative submits to the branch of the bank an approved budge.3)
(6) For completed buildings over 10 million CZK of budgetary costs and for construction over 2 million CZK of budgetary costs for which a subsidy from state funds or loan is granted, the cooperative submits to the branch of the bank evidence of final evaluation of the construction put into operation (use) .3)
(7) In the event of changes (addenda) of the submitted supporting documents for the financing of project documentation and investment, the cooperative shall inform the branch of the bank in due time and modify or supplement the submitted documents without delay.
(8) In addition to the supporting documents referred to in the preceding paragraphs, the cooperative shall submit to the Bank's branch, upon request, the additional supporting documents necessary to ensure financing and investment control. 10)
Conditions for financing project documentation and investment
(1) The branch of the Bank shall finance project documentation and investment in accordance with the National Economy Development Plan and, provided that the criteria for effectiveness are met, 17) that the cooperative shall have financial resources for the entire construction period and spend them with the highest economy.
(2) The financing is carried out by a branch of the bank in whose district the head office of the cooperative is located.
(3) The branch of the bank carries out financing of project documentation and investments up to the amount of the funds referred to in Section 11 transferred to the cooperative's investment account and up to the amount of the authorised investment loan.
(4) The branch of the Bank shall carry out the financing referred to in paragraph 3 upon submission of the supporting documents referred to in Article 12.
(a) for buildings over 10 million CZK of budgetary costs and for buildings referred to in Article 12 (4) up to the approved general budget of the construction; (16) the bank's branch may carry out financing according to the complete parts of the construction;
(b) for project documentation of construction over 10 million CZK of budgetary costs up to the amount of the approved general budget of the construction, or up to the amount of the project work referred to in the registration document of the planned construction, 14)
(c) for constructions up to 10 million CZK of budgetary costs, with the exception of those referred to in Article 12 (4), machinery and equipment not included in the budget of the construction and other investments not included in the budget of the construction, up to the amount of resources in the investment fund or authorised investment credit or subsidy.
METHOD OF FINANCING PROJECT DOCUMENTATION, INVESTMENTS AND CORRECTION OF BASIC INSTRUMENTS AND OTHER COMPOUNDS
Method of financing project documentation and investment
(1) The cooperative finances from investment funds:
(a) project documentation, including copyright;
(b) the investment referred to in Article 6 (1), i.e.:
1. the supply of construction works and construction works, including the costs associated with the disposal of existing basic funds [if they are included in the general budgets3],
2. machinery and equipment, apparatus, means of transport and inventory, or, where appropriate, sets of such articles, if they correspond to the concept of a basic device under Section 2, the costs of their transport and installation,
3. works of art, if they are an integral part of built-up buildings and are included in the budget of buildings, 3)
4. supplies of materials, products, semi-finished products, works, performances, and, where appropriate, expenditure provided by the cooperative - investor - for foreign suppliers under contract with the foreign supplier,
5. the costs of the first planting of permanent crops, i.e. the costs of planting and subsequent cultivation incurred until the maturity of permanent crops, after deduction of any revenue (except for the costs of new planting for plants extinct, unproduced, etc.).
(2) The cooperative also finances other investments from investment funds (§ 6 (2)), as well as contributions from other investors (10), and security and conservation work (§ 18 (1) (c)).
Method of financing investments carried out under its own direction
(1) The investment carried out in its own direction is financed by the cooperative during its construction from operating (non-investment) funds.
(2) The reimbursement of the costs financed by the operating (non-investment) funds referred to in paragraph 1 shall be made from investment funds on the basis of internal payment certificates and internal invoices. 18)
Means of financing the maintenance and repair of basic funds and other tangible assets
(1) The costs of maintaining and repairing basic assets and other tangible assets are financed by the cooperative in accordance with Section 9.
(2) From operational (non-investment) funds and, where appropriate, from the correction fund, the following may also be financed:
(a) the costs incurred in reconstructing and modernising basic funds (including the relevant documentation), carried out at the same time as the correction, where the total budget cost of the reconstruction or modernisation, including the correction, does not exceed CZK 10 million; the general budget does not specify repair and reconstruction and modernisation costs,
(b) the costs of works and supplies associated with the preservation and restoration of the basic functions of the buildings of immovable cultural monuments entered on the State list of real cultural monuments, unless such works create a new technical unit with a permanent technical and economic purpose; in so doing, medical, heating, electrical and other technical and security arrangements can be carried out to ensure the basic function of the cultural monument. For the purposes of this decree, its use for cultural or cultural political purposes, for the purposes of trade and services and for social security purposes shall not be regarded as a new operational technical unit with a permanent technical and economic identification of a cultural monument.
Method of financing other tangible assets
Other tangible assets referred to in § 3 (1) are financed by the cooperative from operating (non-investment) funds.
Financing of discontinued investments and unrealised project documentation
(1) If the investment is temporarily or permanently discontinued, the cooperative shall finance the following investment funds:
(a) the budgeting work already carried out and necessary;
(b) the cost of the project documentation supplied, or any part of it developed (including unused project alternatives);
(c) security and preservation (maintenance and decontamination where appropriate) work under a specific budget;
(d) supplies of machinery and equipment carried out;
(e) machinery and equipment (single purpose and atypical) at a high level of preparation.
(2) After the decision to stop the investment permanently, the costs incurred shall be written off immediately to the Fund for basic funds and investments.
(3) The approval of the competent authority which approved the project documentation should be required to write off the costs of permanently stopped investments and, where appropriate, unimplemented project documentation; for investments or unrealised project documentation, financed in whole or in part by State funds, approval of the fund manager concerned shall be required.
(4) The fund manager may impose an obligation on the cooperative to repay the funds provided by the State Fund.
Inclusion of costs into the purchase price of basic funds
(1) The purchase price of the basic funds consists of the costs incurred for the project documentation and the investments referred to in Article 6 (1) and (3).
(2) The purchase price of basic funds includes the withdrawal of agricultural land from agricultural production for investment construction and the funds provided for measures to eliminate economic harm (5) [§ 6 (2) (c) and (d)].
Benefits of investments financed by state funds
The amounts of the credits of the cooperative's investments financed by State funds received in the current year and relating to supplies made and paid by 31 December of the previous year shall be paid by the cooperative to the relevant State fund.
FINAL AND TRANSITIONAL PROVISIONS
Penalties
(1) Bank branch:
(a) do not start financing investments and project documentation, unless the cooperative provides supporting documents in due time and fulfils the financing conditions set out in paragraphs 12 and 13;
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Regulation Information
| Citation | Decree of the Federal Ministry of Agriculture and Nutrition and Chairman of the Czechoslovak State Bank No. 120 / 1985 Coll., on the financing of the reproduction of basic funds in uniform agricultural cooperatives and common agricultural holdings |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 11.12.1985 |
|---|---|
| Effective from | 01.01.1986 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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