Act No. 271 / 1948 Coll.
The Act on Relief in the Compliance of Certain Obligations to Reichsmark
Valid
Effective from 18.12.1948
271.
Law
of 1 December 1948
on the relief of certain commitments made to Reichsmark.
The National Assembly of the Czechoslovak Republic decided on the following Act:
(1) The claims for benefits under this Act are still fully repaid by debtors of cash liabilities incurred before 10 October 1938 in Czechoslovak crowns on 1 August 1945, and
(a) have been secured by a lien on real estate in the territory of the country of Czech or Moravian-Silesian or Slovak Republic, occupied in 1938 by Germany (hereinafter referred to as "border territory"), or at least have been supported by a debt note which contains a convention on periodic instalments and has the necessary formalities to ensure that such a commitment to the said property can be guaranteed by the lien; or
(b) the debtor is a district or a municipality or other public-law corporation established in the border territory;
If, under the rules of the occupation power, capital compensation has been paid (paragraph 2) and is to be paid in koruna according to the decree of the President of the Republic of 2 August 1945, no 36 Sb., on the fulfilment of commitments denominated in the Reichsmark after the law of 11 June 1947, no 118 Sb., on the fulfilment of commitments denominated in the Reichsmark of 2 August 1945, no 36 Sb., on the fulfilment of commitments denominated in the Reichske and Slovakia, or where the debtor was imposed on the payment of capital compensation without the obligation being converted into a Reichsmark.
(2) Capital compensation in this Act means an amount of 20% of the liability in accordance with the condition of 1 October 1940 which debtors have been obliged to pay under the law of the occupying power of the Land Bank and the head office in Liberec as manager of the claims from the capital compensation to the faithful hand.
(3) Relief under this Act does not apply
(a) liabilities incurred after conversion into Reich marks or after the imposition of the obligation to pay the capital compensation to take over the debt on the disposal of the property committed;
(b) the liabilities of which are the creditors of the national monetary institution (monetary enterprise), including the domestic philistries of the foreign monetary institutions (money undertakings), and the debtor of the person whose assets were confiscated under the decree of the President of the Republic of 21 June 1945, No. 12 Coll., on confiscation and accelerated distribution of the agricultural assets of the Germans, Hungarians, as well as the traitors and enemies of the Czech and Slovak people, or under the decree of the President of the Republic of 25 October 1945, No. 108 Coll., on the confiscation of hostile assets and National Recovery Funds, or under the Decree of the Slovak National Council of 23 August 1945, No. 104 Coll.
(1) If a cash obligation which is subject to benefits under § 1 has been converted into a Reichsmark in the proportion of CZK 1 = 12, the creditor is obliged
1. Discharge one sixth of the balance due on the date of publication of this Act,
2. to credit the debtor without interest one-sixth of the sum of the amounts which he has paid from the date of his conversion into Reich marks until the date of publication of this law; One Reichsmark counts for ten crowns.
(2) The amounts credited to the debtor in accordance with paragraph 1, No 2, shall be used for remuneration and repayment of the undertaking. any surplus in favour of the debtor, if it results from payments made in the old tender or marks, shall be charged, if the creditor is a monetary institution (a money undertaking), as a tied deposit under Section 7 of the President of the Republic of 19 October 1945, No. 91 Coll., on the renewal of the Czechoslovak currency. Another creditor is entitled to settle such excess by transferring from his tied deposit to the tied deposit of the debtor or the securities of the Monetary Liquidation Fund (Section 10 of the Act of 2 July 1947, No. 141 Coll., on the Currency Liquidation Fund) at nominal value.
(1) Where a cash obligation subject to benefits under § 1 has been converted into a Reichsmark in accordance with the rules of the occupying power of 1 K (Ks) = 10 fenics and the debtor has been ordered to pay the capital compensation or the debtor has been ordered to pay the capital compensation without the obligation being converted into Reichsmark, the creditor must:
1. Discharge on the balance due on the date of the publication of this Act as much as the capital compensation for the liability associated with the capital compensation,
2. to credit the debtor for good without interest
(a) the same percentage as for No 1 of the sum of the amounts paid by him for the capital compensation obligation until the date of publication of this law;
(b) special interest, if any, on the capital compensation from 1 October 1940 to the date on which the interest was already calculated on the liability linked to the capital compensation, provided that the debtor has been liable for that special interest with any ancillary charges and has paid it by the date of publication of this law;
One Reichsmark counts for ten crowns.
(2) If the debtor has not paid any special interest with any accessories (paragraph 1, No 2, point (b)) in whole or in part, the debtor shall be deducted from the balance due on the date of the publication of this law, and the remainder shall be charged a discount in accordance with paragraph 1, No 1; one reich mark shall be counted at 10 crowns.
(3) Paragraph 2 (2) of Section 2 applies to the amounts credited to the debtor under paragraph 1.
If the capital compensation claim as such was entered in the land register of the lien, it is sufficient to delete it only from the statement of the money institution (the money undertaking) that the debtor has granted relief under Paragraph 3 (1).
The fees shall be exempt from:
1. Deleted statements on amounts over which, in the case of cash liabilities participating in the concessions referred to in Article 1, was more than the original liability in the crown, as a result of the conversion of the commitment into the Reichsmark;
2. the declaration referred to in Section 4,
3. library requests for the cancellation of the amounts referred to in No 1 and claims on capital compensation (Section 4).
(1) Domestic money institutions (money undertakings), including the domestic philistines of the foreign money institutions (money undertakings), are entitled to transfer to the liquidation fund currency as a claim against the German Reich pursuant to § 3 (2) (a) of Act No 141 / 1947 Coll. the amounts which were deducted and credited to the debtors
1. under the provisions of Paragraph 2 (1),
2. in accordance with the provisions of § 3 (1) or (2), only if they have paid the capital compensation in advance for the debtors of the Land Bank and the head office in Liberec, or if the claim from the capital compensation has passed on to them by law; if they have paid only part of the capital compensation to that institution, they shall transfer to the Liquidation Fund the monetary proportion of the amounts due to the debtor and credited.
(2) If a cash institution (a cash undertaking) has transferred a claim after 4 May 1945 but before the publication of this law to another cash institution (a money undertaking), and that institution (s) grants relief to the debtor pursuant to § 2 or § 3, the progressive institution (s) is obliged to repay the amount of the relief from the payment of the payment received for the transfer of the claim if it were enriched.
(1) From deposits with monetary institutions (money undertakings) to book deposits (savings accounts), deposit notes or current accounts that arose before 10 October 1938 were originally referred to as Czechoslovak crowns, they were converted into Reichsmark in a ratio of CZK 1 = 12 and still exist on the date of the publication of this Act, are deducted if the deposit claim on that date is sufficient, one sixth of the Depositor's mark claim on the date of conversion into Reichsmark marks; one mark counts for ten crowns.
(2) The provisions of the preceding paragraph apply mutatis mutandis to deposits transferred at the time of infreedom to monetary institutions (monetary undertakings) in the border territory by monetary institutions (money undertakings) in the other territories of the Czech and Moravian-Silesian countries and have been converted into 1 K = 12 fenics or have been granted a bonus of 2 females per crown by the Zemská banka and the Žíroví headquarters in Liberec.
The sums deducted pursuant to Paragraph 7, as well as the amounts which, after 4 May 1945, have run out or are yet to run out of the Land Bank and the head office in Liberec in liquidation on claims arising from the capital compensation, shall be the currency of the Liquidation Fund.
Article 29 of the Act of 11 April 1946, No 92 Coll., on the Bound Foreign Exchange Economy, as amended by the Act of 19 July 1948, No 184 Coll., applies mutatis mutandis to the supervision of the observance of the provisions of Sections 6 and 8.
This Act shall take effect on the day of its publication; It shall be implemented by the Ministers for Justice and Finance.
Gottwald v. r.
Dr John v. r.
Zaporocký v. r.
Dr Dolansky v. r.
Dr Cap v. r.
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Regulation Information
| Citation | Act No. 271 / 1948 Coll., on Relief in the performance of certain obligations which were on Reich marks |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 18.12.1948 |
|---|---|
| Effective from | 18.12.1948 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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