Act No. 157 / 1949 Coll.
Act repealing the General Fund of Money Institutions in the Czechoslovak Republic and the Support Fund of Money Institutions
Valid
Effective from 30.06.1949
157.
Law
of 15 June 1949
repealing the General Fund of Money Institutions in the Republic of Czechoslovakia and the Support Fund of Money Institutions.
The National Assembly of the Czechoslovak Republic decided on the following Act:
The general fund of monetary institutions in the Republic of Czechoslovakia (hereinafter referred to as the General Fund), which was established by the Law of 10 October 1924, No 238 Coll., and whose legal ratios were further regulated by the Law of 21 April 1932, No 54 Coll., by the Decree of 30 June 1937, No 161 Coll., and by the Law of 11 June 1947, No 112 Coll., and the Auxiliary Fund of Cash Institutions (hereinafter referred to as the "Auxiliary Fund '), established by the Law of 22 July 1941, No 172 Coll.
(1) The interest rate on the General Fund's bonds and liabilities of the Auxiliary Fund is reduced to 3% if the interest was reached after 31 December 1945 and was more than 3%.
(2) The debt service of the General Fund bonds, which was provided under the Government Decree of 9 November 1939, No 28 Coll. of 1940, on the purchase of coupons of bonds of the Special Fund for the Reduction of losses arising from post-war conditions and bonds of the General Fund of the Monetary Institutions, pursuant to § 8 of the Decree of 24 September 1940, No 242 of the SLA, on the compulsory list and the compulsory deposit of bonds of the Special Fund for the Relief of Resolutions from the Post-War Conditions and of the General Fund of the Funds, and on the reporting of other liabilities and claims against these funds, and pursuant to § 1 of the Decree of the Law of 31 March 1944, No 34 of the SLA, amending and supplementing the Order of Law of Law No 242 / 340 of the General Fund of the General Fund of the European Union. The Minister of Finance may also decide by regulation on the debt service of the General Fund bonds not covered by the first sentence.
(1) The obligation of members of the General Fund and the Auxiliary Fund to collect and pay a 3% contribution (Sections 11 and 12 of Act No. 238 / 1924 Coll. as amended by its amendments, Sections 11, 7 and 12 of Act No. 172 / 1941 Coll.) expires on 31 December 1948.
(2) The contributions for the period up to 31 December 1948 are collected for the Czechoslovak State by the Investment Bank, a national undertaking, under the provisions of Act No 238 / 1924 Coll. as amended by the regulations amending it and under the provisions of Act No 172 / 1941 Coll. z. Investment Bank, a national undertaking, also collects for the Czechoslovak State the outstanding contributions and the premium due to the Auxiliary Fund for the period up to 31 December 1945 (Sections 10 and 11, paragraphs 1 to 6 of Law No 172 / 1941 Coll.). The Ministry of Finance shall supervise the collection of all contributions.
(3) The scope of the General Fund Curatorium and the Auxiliary Fund Curatorium and their bodies shall, unless otherwise specified in paragraph 2, pass to the Ministry of Finance.
(4) The legal proceedings chaired by the institutions of the General Fund and the Auxiliary Fund between 1 January 1949 and the date of the publication of this Act shall be treated as if they were acting in the name and on behalf of the State.
The Ministry of Finance may, in cases of special consideration, in particular for reasons of public interest, provide bailouts for the assets of the General Fund and the Auxiliary Fund.
This Act shall take effect on the day of its publication; to be carried out by the Minister for Finance.
Gottwald v. r.
Dr John v. r.
Zaporocký v. r.
Cable v. r.
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Regulation Information
| Citation | Act No. 157 / 1949 Coll., repealing the General Fund of Money Institutions in the Czechoslovak Republic and the Auxiliary Fund of Money Institutions |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.06.1949 |
|---|---|
| Effective from | 30.06.1949 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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