Act No. 64 / 1958 Coll.
Act amending and supplementing Act No. 107 / 1953 Coll., on Foreign Exchange Economy
Valid
Effective from 06.11.1958
64
Law
of 17 October 1958
amending and supplementing Act No. 107 / 1953 Coll., on Foreign Exchange Economy
The National Assembly of the Czechoslovak Republic decided on the following Act:
Act No. 107 / 1953 Coll., on Foreign Exchange Economy, is amended as follows:
Article 1 (2) reads as follows:
"(2) The Minister for Finance may, in agreement with the Minister for Foreign Trade, authorise exemptions from paragraph 1. ';
Article 2 (4) reads as follows:
"(4) Only with the approval of the Ministry of Finance and, as regards cases falling within the jurisdiction of the Ministry of Foreign Trade under this Act, with the authorisation of the Ministry of Finance, are allowed to export:
(a) foreign currency and payment documents denominated in non-Czechoslovak currency;
(b) precious metals (gold, silver and platinum in the unprocessed state, in semi-finished forms, in blends, in alloys, in fractions, etc., as well as in invalid coins in which there is more than 10% pure silver, or more than 1% pure gold or platinum), precious stones, pearls and articles of precious metal, precious metals and pearls, except for commercial shipments of such products by undertakings established for the conduct of foreign trade ("foreign trade undertakings");
(c) fund values (in particular shares, bonds, security bonds, interest and dividend coupons and talons), as well as holding books, life insurance policies, deposit certificates and full powers to deal with foreign assets. '
Article 3 (2) (5) reads as follows:
"(5) Imports of the values referred to in paragraph 4 shall be free. However, these values must be declared and presented to the customs authorities on importation. Exemptions are provided for by the Minister for Finance in an agreement with the Minister for Foreign Trade. '
4. Paragraph 2 is added to paragraph 6:
"(6) Imported foreign money, payment documents denominated in foreign currency and precious metals may be exchanged or monetized in the country only through the Czechoslovak State Bank or other locations. These places shall be designated by the Ministry of Finance and, if they are in the field of another Ministry, in agreement with that Ministry. The implementing rules shall specify in which cases it shall be established that the exchange or redemption took place. ';
5.
(1) The organisations entrusted with the Ministry of Finance may accept from passengers abroad for their own cargo up to a safe deposit value whose export is prohibited or whose export is not authorised (§ 2). Where such authorities are not established, customs shall be entitled to do so. The conditions of custody are governed by civil law (§ 422 et seq., Act.).
(2) Values not recovered within 1 year of taking over to safekeeping belong to the State. "
6. Paragraph 4 (1) of the third sentence reads:
"Salaries on grounds of patent or stamp and model protection, as well as licensing salaries of all kinds, salaries for technical documentation, improvements and discoveries and similar salaries shall be performed by the State Bank of Czechoslovakia on the basis of the permission of the Ministry of Foreign Trade. '
7. The following Section 4a is inserted after Section 4:
(1) Foreign domestic (§ 5 (1)) and foreign persons (§ 6 (1) (b)) may make payments abroad and abroad in any currency only through the Czechoslovak State Bank.
(2) Foreign domestic persons may settle claims and liabilities against foreign persons other than those referred to in paragraph 1 only with permission from the Ministry of Finance; where cases falling under the jurisdiction of the Ministry of Foreign Trade are covered by this Act, such authorisation shall be granted by the Ministry. ';
8. Paragraph 5 (1) (c) reads as follows:
"(c) to cash, at the request of the Ministry of Finance, in the manner set out by the Ministry of Finance, the property and other assets which they have abroad, the fund values payable abroad (foreign fund values), wherever they are, or to comply with its orders as regards other handling of those values; as regards patent, licence, grade and model rights, the Ministry of Foreign Trade shall be responsible for the invitation or order. ';
9. Paragraph 6 (1) (a) reads as follows:
"(a) claims on foreign persons, immovable property and participating interests which have their foreign assets, their foreign funds and claims on foreign persons for inheritance, a reference or other cash transactions for any reason;"
10.
(1) The Ministry of Finance and the bodies entrusted under Section 7a are entitled to carry out external and internal checks on baggage, means of transport, letters and other consignments, as well as on persons, and in particular on commercial and other records and documents, for the purpose of monitoring the observance of this Act and the regulations issued under it. at the same time, they may require the necessary explanations from the persons checked and examined.
(2) The authorisation referred to in paragraph 1 shall also be the responsibility of the Ministry of Foreign Trade in cases falling within its competence under this Law.
(3) When carrying out inspections and checks (paragraphs 1 and 2), the legal provisions on the protection of the freedom of persons, home and secrets of letters must be investigated.
(4) The State authorities and other authorities are required to support the Ministry of Finance and the Ministry of Foreign Trade in carrying out the tasks imposed on them by this Act and to notify them of all necessary information for their submission, unless special provisions prevent this. '
11. the following Section 7a is inserted after Section 7:
(1) The Minister of Finance is hereby authorised to issue implementing provisions for the implementation of this Act. It may also delegate the powers of the Ministry of Finance Act to another body; if it is an institution within the field of competence of another minister, it does so in agreement with that minister.
(2) The Minister for Foreign Trade may, in agreement with the Minister for Finance, issue implementing provisions for cases falling within its competence under this Act.
(3) The Director-General of the Czechoslovak State Bank may, with the approval of the Minister of Finance, delegate other organisations to the tasks which the Czechoslovak State Bank is obliged to perform under this Act. "
The Minister of Finance is hereby authorised to declare in the Collection of Laws the full text of Act No. 107 / 1953 Coll., on Foreign Exchange Economy.
This Act shall take effect on the day of its publication; it shall be implemented by the Finance Minister in agreement with the participating members of the Government.
Novotný v. r.
Fierlinger v. r.
Broad v. r.
Děuriš v. r.
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Regulation Information
| Citation | Act No. 64 / 1958 Coll., amending and supplementing Act No. 107 / 1953 Coll., on Foreign Exchange Economy |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.11.1958 |
|---|---|
| Effective from | 06.11.1958 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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