Decree of the State Bank of Czechoslovakia No. 147 / 1992 Coll.
Decree of the Czechoslovak State Bank laying down the procedure for the receipt and handling of legal money and the provision of compensation for incomplete and damaged banknotes and coins
Valid
Effective from 09.04.1992
147
DECLARATION
Czechoslovak State Banks
of 16 March 1992
laying down the procedure for the receipt and handling of legal money and for the granting of refunds on incomplete and damaged banknotes and coins
According to § 27 (b) and (c) of Act No. 22 / 1992 Coll., on the State Bank of Czechoslovak:
Receipt of legal money
(1) Legal money1) the State Bank of Czechoslovakia, banks, 2) the post office and other legal persons (hereinafter referred to as "legal persons") and natural persons shall receive the following principles:
(a) the current Czechoslovak banknotes (hereinafter referred to as "banknotes") are accepted by legal and natural persons without restriction;
(b) the current Czechoslovak coins, including commemorative coins (hereinafter referred to as "coins") shall be accepted without restriction by the Czechoslovak, Bank and Post State Bank; other legal persons and natural persons may refuse to accept coins in excess of 100 CZK and over 10 pieces of the same denomination and receive commemorative coins,
(c) legal persons shall also receive legal circulated money where it is paid and is whole and whole; The State Bank of Czechoslovakia, the banks and the post office receive, under the same conditions, legal money damaged otherwise than by circulation (the "damaged legal money '); the circulation of worn and damaged legal money shall not be recirculated; natural persons may refuse to receive the legal money in circulation, whether worn or damaged.
(2) All legal money is considered to be one which does not lack any part of it, the whole legal money is that which constitutes a coherent and intact whole.
(1) Unless otherwise provided for by an agreement between the payer and the payee of legal money, the payee shall assume responsibility for their correct number and authenticity. However, the beneficiary must be able to check the correct number and authenticity of legal money.
(2) Where banknotes or coins presented as legal money are falsified or altered or where such suspicion arises, natural persons may refuse to accept them. Legal persons shall withdraw such banknotes or coins without compensation.
(3) The removal of the banknotes or coins referred to in paragraph 2 shall be accompanied by a certificate from the legal entities to the person submitting them, which shall include:
(a) the name, surname, birth number or date of birth of the person submitting the banknotes or coins and the address of his permanent or, where appropriate, temporary or short stay in the territory of the Czech and Slovak Federal Republic; where the payer is a legal person, its name and registered office,
(b) the type and number of the licence by which the identity of the person who submitted the banknotes or coins has been established;
(c) the type and denomination of the banknote and its series, and the number or denomination and the number of coins issued,
(d) the name and registered office of the legal person who took the banknotes or coins.
(4) The banknotes or coins collected shall be entered by legal persons in the presence of the person who submitted them, together with a copy of the acknowledgement of their removal in an envelope or other appropriate packaging which shall ensure that the adhesive tape is opened without authorisation. The person who has submitted the banknotes or coins collected shall certify his presence when they are placed in the packaging by means of handwritten signatures through adhesive tape; the person who took the banknotes or coins shall also make his signatures through the adhesive tape. The banknotes or coins thus deposited shall be sent to the Czechoslovak State Bank for expert assessment.
(5) Withdrawal of the banknotes or coins referred to in paragraph 2 shall be notified without delay to the police or to the prosecution.
(6) If the Czechoslovak State Bank finds that the banknotes or coins collected pursuant to paragraph 2 are genuine, it shall immediately return them to the person to whom they have been withdrawn.
(7) The same procedure shall be followed if counterfeit or altered banknotes or coins of foreign currencies are detected (3) or if such suspicion arises.
Exchange of legal money for legal money of other denominations
The exchange of the legal money of certain denominations with the legal money of other denominations is carried out by the Czechoslovak Bank and the banks free of charge; perform such exchange of legal money and mail according to their cash and operating conditions.
Packaging of legal money
(1) When transferring legal money between legal persons and between legal and natural persons, the payer shall classify legal money according to their individual denominations. Banknotes of the same denomination shall be placed by the payer in packs of 100 each. Banknotes are placed in packages with a smooth design and compared by side and direction of printing. Ten full packages of banknotes of the same denomination are a bunch of banknotes. Coins of the same denomination are inserted by the payer in 100 pieces in bags or packed in 50 pieces in scrolls. An agreement between the payer and the payee may specify a different number of coins in sacks or coils.
(2) The bands bearing the packages of banknotes and the coin bags or rolls shall be marked with the number of pieces inserted, their nominal value and the aggregate amount; where the payer is a legal person, the name and registered office shall also be indicated.
(3) Where legal money is transferred separately from legal persons in the course of the transfer of legal money in circulation or damaged, packages of worn-out banknotes and bags or scrolls of worn-out coins shall be marked with the text "Unauthorised Money 'or the capital marked" N'. Damaged legal money, if whole, is inserted into packages, bags or scrolls of legal money worn in circulation.
Provision of compensation for incomplete and damaged banknotes and coins
(1) Damaged banknotes and coins issued by the Czechoslovak State Bank, if they are whole, are exchanged by the Czechoslovak Bank, the banks and the post office in full nominal value without any precipitation.
(2) Only damaged banknotes and coins with no doubt of authenticity shall be exchanged. If the bank or the post office is in doubt about the authenticity of the banknotes or coins, it shall be treated mutatis mutandis in accordance with § 2 (2) to (5).
(3) The exchange of banknotes or coins whose pattern or relief is illegible, deformed or perforated, (4) banks and post office may refuse.
(4) If the banknotes which have been described, painted, reprinted, printed, perforated or which have been anointed with paint, glue or other similar material are removed without refund, 5) a certificate of withdrawal shall be issued to the payer and sent to the State Bank of Czechoslovakia for assessment.
(1) Where a banknote consisting of several parts is presented for exchange or measurement of the refund, it shall be considered as a whole only if there is no doubt that the individual parts belong together, for example according to the series and serial number, according to the shape at the point of rupture; in doubt, each part submitted shall be assessed separately.
(2) Compensation for less than all banknotes is granted by the Czechoslovak State Bank and by the banks according to the size of the area submitted to the rest.
(3) The size of the banknote area is determined by the grids dividing the banknote area into 100 equal fields. The area of the rest of the banknote shall include fields which are covered by the rest of the banknote by more than half.
(4) The refund is granted at the rate of:
(a) the denomination of the banknote if the remainder is submitted more than three quarters of the original area of the banknote;
(b) one half of the denomination of the banknote, if the remainder is half to three quarters of the original area of the banknote submitted;
(c) one quarter of the denomination of the banknote if the remainder is at least a quarter and less than half of the original area of the banknote submitted.
(5) No refund shall be granted for the remainder of the banknote less than a quarter of the original area.
(6) The banks shall send to the Czechoslovak State Bank, which shall reimburse them for the amounts granted under paragraph 3, in respect of which they have calculated compensation.
(7) On the basis of a written agreement with the Czechoslovak State Bank, a legal person other than the bank may provide compensation for less than the full banknotes.
(1) Damaged banknotes or coins which have been refused to be exchanged by banks or by post in accordance with Section 5 (3) and banknotes which could not be exchanged in accordance with Section 5 (1) because of the nature of the damage, or for which a refund has been calculated in accordance with Section 6 (2) to (4), such as carbonated, decayed, broken down into small parts, may be sent by legal or natural persons to the Czechoslovak State Bank with an application for an assessment and a refund. The application shall indicate how the damage occurred and the consignment shall be marked with the text "Damaged money '.
(2) Legal or natural persons to whom banknotes have been withdrawn without refund pursuant to § 5 (4) may also apply to the State Bank for reimbursement. The application for a refund shall indicate how the banknote has been damaged.
(3) At the request of a legal or natural person, the Czechoslovak State Bank may, where justified, measure and provide compensation for damaged banknotes in a different manner and at a different rate than those provided for in Article 6 (2) to (5). The refund thus granted may not be lower than the refund calculated in accordance with Paragraph 6 (4).
Final provisions
The Order of the State Bank of Czechoslovakia No. 155 / 1989 Coll., on the circulation of legal money and the provision of compensation for damaged money is hereby repealed.
This decree shall take effect on the day of its publication.
Governor:
Ing. Tošovský v. r.
1) Article 21 (1) of Act No. 22 / 1992 Coll., on the State Bank of Czechoslovakia.
2) Act No. 21 / 1992 Coll., on Banks.
3) § 26 of Act No. 22 / 1992 Coll.
4) § 22 paragraph 2 of Act No. 22 / 1992 Coll.
5) § 22 paragraph 3 of Act No. 22 / 1992 Coll.
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Regulation Information
| Citation | Decree of the State Bank of Czechoslovakia No. 147 / 1992 Coll., laying down the procedure for receiving and handling legal money and providing compensation for incomplete and damaged banknotes and coins |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 09.04.1992 |
|---|---|
| Effective from | 09.04.1992 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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