Decree of the Foreign Trade Minister No. 163 / 1970 Coll.
Decree of the Foreign Trade Minister on the Establishment of Tuzex, Foreign Trade Company
Valid
Effective from 01.01.1971
163
DECLARATION
Minister for Foreign Trade
of 30 December 1970
on the establishment of Tuzex, a foreign trade undertaking
The Foreign Trade Minister provides in an agreement with the Minister of Finance pursuant to § 2 and 20 of Act No. 119 / 1948 Coll., on the state organization of foreign trade and international shipping:
Establishment of an undertaking
TUZEX, a foreign trade undertaking (hereinafter referred to as the undertaking).
The place of residence is Prague. If necessary, the firm may set up branch plants outside its registered office with the approval of the Ministry of Foreign Trade.
(1) The main object of the business is domestic and foreign sales of goods of all kinds in small currency.
(2) For retail sales, the undertaking shall provide imports through the relevant external trade organisations; import of exclusive products and novelties in the scope of the misleading sale of goods, including the necessary spare parts, and import of goods according to individual customer requirements can be provided directly.
(3) In direct imports, the company is obliged to ensure compliance with the commercial policy principles established by the Federal Ministry of Foreign Trade and to proceed in an agreement with the godly relevant foreign trade organisations.
(4) The undertaking is entitled to sell small-scale goods for foreign currency as well as in selected establishments of other undertakings and organisations which are specifically authorised to do so by the competent central authority; a separate sale record must be provided.
(5) The undertaking is entitled to carry out all activities directly related to its business.
(1) The undertaking is a separate legal entity.
(2) The company is an economic organisation which manages itself and is responsible for its obligations with its assets.
(3) Neither the State nor any other organisation is liable for the undertaking's actions and commitments.
(4) The company is not liable for the obligations of the State or other organisations.
(5) An undertaking shall be registered as owner of immovable property.
(1) The undertaking is managed by the Director-General appointed and removed by the Minister for Foreign Trade; The Director-General shall be personally accountable to the Foreign Trade Minister.
(2) The Director-General represents the undertaking externally and is entitled to all measures and decisions in the management of the undertaking.
(3) The Minister for Foreign Trade may appoint one or more Deputy Directors-General. The Deputy Director shall represent the Director-General in full capacity.
(4) When appointing the Minister for Foreign Trade, the Director-General and his Deputy Directors undertake to carry out their duties conscientiously.
(5) The Minister for Foreign Trade may make his own arrangements for the interim management of the management of the undertaking.
The core capital of the company is 66 000 000 CZK.
(1) The company is under the responsibility of the Ministry of Foreign Trade.
(2) A more detailed definition of the tasks of the undertaking, including a more detailed adaptation of the subject matter of the business, its organisation, the performance of the activities and the responsibilities of the workers shall be determined by the Minister for Foreign Trade, as appropriate, within the framework of his competence.
(1) The authorisation granted by Tuzex, a public limited company in Prague, by order of the Foreign Trade Minister No. 202 / 1968 Coll. to carry out domestic and foreign sales of goods of all kinds in small currency is limited to activities related to the liquidation of this public limited liability company.
(2) The settlement of the rights and obligations of the joint-stock company Tuzex is ensured at the end of the company's activities under Act No. 243 / 1949 Coll.
(3) The employees of the joint-stock company Tuzex will take over the company on the date of their establishment.
This Decree shall take effect on 1 January 1971.
First Deputy Minister:
Hustoles v. r.
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Regulation Information
| Citation | Decree of the Foreign Trade Minister No. 163 / 1970 Coll., on the Establishment of Tuzex, Foreign Trade Company |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.12.1970 |
|---|---|
| Effective from | 01.01.1971 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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