Government Decree No. 34 / 1954 Coll.
Regulation on the recalculation of certain claims and liabilities denominated in Czechoslovak crowns of old money in proportion to abroad
Valid
Effective from 01.06.1953
34.
Government Regulation
of 16 July 1954
on the recalculation of certain claims and liabilities denominated in Czechoslovak crowns of old money in proportion to abroad.
The Government of the Czechoslovak Republic orders pursuant to § 6 of Act No. 41 / 1953 Coll., on Money Reform:
Obligations and claims between domestic and foreign persons, denominated in Czechoslovak crowns of old money and incurred before 1 June 1953, are converted into Czechoslovak crowns of new money according to other provisions.
(1) Domestic liabilities to foreigners incurred in connection with foreign trade and services (import and export of goods, transport, insurance, reinsurance, patent, licence and trade marks, ordinary commission and so on), as well as other domestic liabilities to foreigners, if their payment is to be made abroad on the basis of payment arrangements, are recalculated in proportion to 6,9444225 CZK of old money for 1 CZK of new money.
(2) In the same way, foreign liabilities vis-à-vis domestic residents are recalculated, with the exception of those referred to in § 3.
(1) The obligations of foreign persons on domestic taxes, levies and charges are recalculated in a ratio of 5 CZK of old money for 1 CZK of new money.
(2) Similarly, foreign liabilities to domestic residents secured by immovable property situated in the territory of the Czechoslovak Republic are recalculated.
The claims and life insurance obligations of foreign persons shall be treated in the same way as those of domestic persons.
(1) The liabilities of the Czechoslovak State towards foreign states, if they are to be paid to the country, are recalculated in a ratio of 5 CZK of old money for 1 CZK of new money, the others in a ratio of 6,9444225 CZK of old money for 1 CZK of new money.
(2) The liabilities of the Czechoslovak State Bank vis-à-vis foreign states are recalculated in a ratio of 6,9444225 CZK of old money for 1 CZK of new money.
(3) The funds of foreign representative offices deposited in accounts with the Czechoslovak State Bank are recalculated in a ratio of 5 CZK of old money for 1 CZK of new money.
(1) Foreign exchange deposits on deposit books are recalculated in the same way as domestic deposits on deposit books.
(2) Foreign exchange deposits in current accounts, where they are not subject to the provisions of Sections 2 and 5 of this Regulation, are recalculated in the same way as deposits in holding books.
(3) Deposits in special current accounts set up to be made available to private persons by economic, budgetary and other organisations and establishments for the sale or rental of real estate or movable property, and deposits in current accounts in which, pursuant to Act No. 80 / 1952 Coll., on Home Tax, the rent on residential houses is transferred, shall be recalculated - if it is foreign - as well as domestic deposits of the same kind; This is also the case if the cases referred to in Paragraph 2 (1) are concerned.
Domestic liabilities vis-à-vis foreigners, unless otherwise regulated by this Regulation, shall be recalculated in the same way as similar liabilities arising from domestic relations.
(1) Landlords under this Regulation are:
(a) the physical persons residing or residing in the Czechoslovak Republic, as well as the Czechoslovak members who are abroad by order of the Czechoslovak state and other authorities, and their family members,
(b) legal persons and undertakings having their registered office in the Czechoslovak Republic;
(c) the Czechoslovak State.
(2) Aliens under this Regulation are other physical and legal persons, departments and establishments and foreign States.
The provisions of this Regulation shall be applied only if the Czechoslovak court has not ruled otherwise.
This Regulation shall enter into force on 1 June 1953; they shall be carried out by the Finance Minister in agreement with the other members of the Government.
Broad v. r.
Děuriš v. r.
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Regulation Information
| Citation | Government Decree No. 34 / 1954 Coll., on the recalculation of certain claims and liabilities denominated in Czechoslovak crowns of old money in proportion to abroad |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 21.08.1954 |
|---|---|
| Effective from | 01.06.1953 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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