Regulation No. 163 / 1950 Coll.
Regulation defining domestic insurance of foreign-based insurance undertakings and domestic insurance with a equivalent effect to Reichsmark
Valid
Effective from 23.12.1950
163.
Order of the Minister for Finance
of 22 November 1950
defining national insurance policies for foreign-based insurance undertakings and national insurance policies with performance equivalent to the Reichsmark.
The Minister of Finance hereby orders, pursuant to § 5 (1) and § 12 (1) of Act No. 95 / 1950 Coll., to regulate certain insurance conditions:
Domestic insurance of foreign-based insurance companies.
(1) The insurance from which the insurance undertaking is committed as an insurer or a claim on such insurance is considered domestic within the meaning of § 5 (1) of Act No 95 / 1950 Coll., if
(a) the policyholder was resident (registered office) in the territory of the Czechoslovak Republic, and the insurance undertaking with which the insurance was contracted was active in that territory; and
(b) on 1 August 1950, they were either resident (registered office) in the territory of the Czechoslovak Republic, if the insurance was still in force on that date, or the person entitled to the claim,
and if, moreover, the conditions of Section 2 are fulfilled.
(2) The operation of an activity in the territory of the Czechoslovak Republic (paragraph 1 (a)) is also understood to mean that, at the time of the lack of freedom, an insurance undertaking which has its head office abroad has insurance under the law of the occupying authority with persons residing in the occupied territory.
(1) The property or claim insurance shall be considered domestic if the insured item or insured source of danger were in the territory of the Czechoslovak Republic when the insurance was arranged. However, if the insurance was still in force on 1 August 1950, it is considered as a domestic condition only that the insured item or insured source of danger was also in the territory of the Czechoslovak Republic on 1 August 1950.
(2) The insurance of property and accident insurance which has ceased to exist pursuant to § 6 (2) of Act No. 95 / 1950 Coll.
In the laws and obligations of insurance, which are considered domestic under the provisions of § § 1 and § 2, a national undertaking will enter at the order of the Minister of Finance of the Czechoslovak Insurance Company. However, this insurance company shall not enter into the liabilities of foreign-based insurance undertakings where the National Recovery Fund is authorised under the confiscation rules or the Liquidation Fund because the life insurance (life insurance claims) has not been registered under the Decree of the President of the Republic No 95 / 1945 Coll., on the registration of deposits and other cash claims in respect of financial institutions as well as life insurance and securities, or because the claim has been forfeited pursuant to Section 76 (5) of Act No. 134 / 1946 Coll., on the income levy on property and the asset levy, as amended by Act No. 68 / 1949 Coll.
A local insurance policy with a sound on the Reich marks.
Insurance with a full name on the Reichsmark, from which the insurer is bound by an insurance company established abroad, shall be deemed to be domestic within the meaning of § 12 (1) of Act No. 95 / 1950 Coll., if it is a domestic insurance undertaking within the meaning of Section I. Under the same conditions, it is considered to be a domestic claim based on the Reichsmark of the insurance from which it is (was) committed as an insurer by an insurance company established abroad.
Insurance with a full name on the Reichsmark, from which the Czechoslovak Insurance Company, National Company, or a nationalized insurance institution with its head office in the Czech Republic, as well as a claim on such insurance, are to be considered as domestic within the meaning of § 12 (1) of Act No. 95 / 1950 Coll., if
1. the policyholder or the person entitled to the claim was resident in the territory of the Czechoslovak Republic on 1 August 1950 and the claim for insurance was neither confiscated nor transferred to the State, nor forfeited to the State under the rules referred to under 2; or
2. the claim from the insurance was confiscated or transferred to the State or forfeited in its favour (Decree of the President of the Republic No. 108 / 1945 Coll., on the confiscation of hostile assets and National Recovery Funds, as amended by Act No. 84 / 1949 Coll., § 11 Dec. No. 95 / 1945 Coll., § 76, § 5 of Act No. 134 / 1946 Coll. as amended by Act No. 68 / 1949 Coll., § 7 (3) of Act No. 128 / 1946 Coll., on the nullity of certain property-law acts of the period of non-liberty and of claims of that invalidity and of other provisions in respect of the assets of the institutions).
Cash liabilities denominated in Reichsmark, which are considered as domestic under § § 4 and § 5, shall be completed on 1 August 1945 in Czechoslovak koruna in ratio 1 Reichske mark = 10 Czechoslovak koruna with the exception of liabilities from domestic insurance agreed in Czechoslovak koruna, which were converted into Reichske mark in ratio 1 Czechoslovak koruna = 12 Reichske fenik; the performance of cash obligations arising from such insurance shall be laid down in a special regulation.
Provisions common and final.
If, on the dates applicable under this Regulation, the life insurance property rights of the policyholder are not due because they have been transferred to another person, the conditions laid down in this Regulation for the policyholder shall apply to that other person.
The Ministry of Finance may decide to avoid hardness on a case-by-case basis that the insurance from which, as an insurer, an insurance company having its head office abroad or the insurance with the performance of the Reich marks is considered domestic, even if they do not meet all the conditions of Sections I and II.
The provisions concerning the transfer of the insurer's performance to a tied deposit remain without prejudice.
This Regulation shall enter into force on the day of its publication.
Zaporocký v. r.
Cable v. r.
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Regulation Information
| Citation | Regulation No. 163 / 1950 Coll., defining domestic insurance of foreign-based insurance companies and domestic insurance with a performance equivalent to Reichsmark |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 23.12.1950 |
|---|---|
| Effective from | 23.12.1950 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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