Government Decree No. 7 / 1954 Coll.
Regulation on the circulation of legal money
Valid
Effective from 17.02.1954
7.
Government Regulation
of 26 January 1954
on the circulation of legal money.
The Government of the Czechoslovak Republic orders pursuant to § 9 (a) of Act No. 41 / 1953 Coll., on Money Reform:
(1) Treasures of economic, budgetary and other organisations and equipment are required to receive banknotes, statuses and coins as legal money without limitation.
(2) Physical persons are required to receive banknotes without limitation as legal money, statuses up to 100 pieces of the same value and coins up to 20 pieces of the same value.
(3) The obligation to receive money referred to in paragraphs 1 and 2 shall apply only to money in circulation which is not spent or damaged.
Exchange money of certain values for money of other values Czechoslovak State Bank according to economic needs, state savings banks and postal authorities according to their cash situation.
(1) Money spent in circulation is received by the Czechoslovak State Bank, if paid by it, or exchanged for money not of the same or other value.
(2) State savings banks and post offices receive money spent in circulation when it is paid to them but do not put it into circulation.
(1) For unintentionally damaged banknotes, statuses and coins, the State Bank grants Czechoslovak compensation under directives approved by the Minister of Finance and published in the Official Journal.
(2) No refund is granted for banknotes, stalls and coins intentionally damaged; The Minister of Finance may allow an exemption for socialist sector organisations.
Money falsified, modified or degraded shall be taken from the cash registers of the organisations or facilities referred to in Paragraph 1 (1) to which the money has been submitted for a receipt without refund and sent to the Czechoslovak State Bank with a communication on who and under what circumstances it was submitted.
For the purposes of this Regulation, if money is spent in circulation or damaged, falsified, altered or degraded, the Czechoslovak State Bank shall decide which, in doubt, shall require an opinion from the State Price Printer, if it is about banknotes and statuses, and the State Mint, if it is about coins.
This Regulation shall enter into force on the day of its publication; to be carried out by the Minister for Finance.
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Regulation Information
| Citation | Government Decree No. 7 / 1954 Coll., on the circulation of legal money |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 17.02.1954 |
|---|---|
| Effective from | 17.02.1954 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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