Decree No. 78 / 1945 Coll.
Decret of the President of the Republic on transitional financial security for economic enterprises
Valid
Effective from 04.10.1945
78.
Decret of the President of the Republic
of 19 September 1945
on transitional financial security for economic undertakings.
On the proposal of the Government,
(1) Each entrepreneur is obliged to take care of the money measure to maintain the operation of his business. This obligation also includes the provision of such funds.
(2) The undertaking referred to in paragraph 1 shall be a person of the physical or legal nature or association of such persons on whose behalf the undertaking is operated or is to be operated.
(1) For a period of one year from the date of entry into force of this Decree, for the purpose of measures to maintain the operation of economic undertakings, they shall, within the limits of their economic possibilities, grant the necessary monies:
(a) liability companies limited by their members in proportion to their ordinary deposits;
(b) equity companies, limited liability companies and mining companies, their shareholder or miner, having at least 25% of the share capital or couches;
(c) economic undertakings, with the exception of those identified above under (b), the public limited company, the limited liability company, the limited liability company or the mining company or the company which has at least a 25% stake in the company in capital or profit.
(2) The Minister for Finance may authorise relief from the obligation referred to in paragraph 1 in an agreement with the Minister of Business.
The authorities designated by the Minister for Finance are responsible for carrying out the duties imposed in Sections 1 and 2. Anyone affected by this obligation shall be obliged to allow, support and co-operate with this surveillance.
(1) If the funds to maintain the operation of economic undertakings cannot be provided under § § 1 and § 2, or the funds to restore the operation of economic enterprises, the Minister of Finance is hereby authorised to assume, in an agreement with the Minister in whose jurisdiction the undertaking is responsible, a State guarantee for loans with their facilities, which the monetary institution or association of such institutions provides:
(a) measures of funds to economic enterprises, which are in the national administration pursuant to the Decree of 19 May 1945 of the President of the Republic, No 5 Coll., on the nullity of certain acts of property law from the period of infreedom and on the national administration of property values of Germans, Hungarians, traitors and collaborators and certain organisations and institutes;
(b) to provide funds for the payment of wages and service salaries, for the purchase of raw materials and material to economic operators at all;
(c) to transfer undertakings from a war economy to a peaceful economy;
(d) undertakings or entrepreneurs affected by war or occupation for the purpose of putting them into service.
(2) Guarantees and clauses issued under the preceding paragraph shall be exempt from charges.
(3) The guaranteed loan is released by the Minister of Finance as required.
(4) The beneficiaries of the guaranteed loan shall be subject to state supervision by the authorities designated by the Minister of Finance, without prejudice to any other provisions in force. The Supreme Accounting Audit Office is supervised by the Law of 20 March 1919, No. 175 Coll., on the establishment and competence of the Supreme Accounting Audit Office. Entrepreneurs and national administrators shall be obliged to allow, support and co-operate with supervision.
(5) If the Minister of Finance referred to in paragraph 1 provides a guarantee for a loan granted to a public limited liability company, it shall be subject to the provisions of Article XLVIII, paragraph 1, of the Second Banking Act of 21 April 1932, No 54 Coll.
If, following the granting of the State guarantee pursuant to § 4 (1) (a) to (c), the Minister of Finance has made clear that there is an obligation provided for in § 2, the amount of the obligation shall be determined by the Minister of Finance in agreement with the Minister of Business. The purpose of this is an enforceable administrative execution.
Entitlements from any loans granted by monetary institutions to undertakings established in the national administration shall be satisfied in the execution of compulsory administration and in the forced auction in the same order as those referred to in Sections 120, 4 and 216, No 1 of the Rules of Enforcement.
The interest rate on loans granted under Sections 4 and 6 may not exceed 5% per year, including all fees, allowances and remuneration.
(1) Loans before loans guaranteed by the State pursuant to Article 4 and their accessories may be recovered and repaid only with the approval of the Minister for Finance. The limitation of claims on such loans shall be based on the approval of the Minister of Finance from the date on which the application is submitted until the date on which such approval is granted.
(2) This provision does not apply to loans negotiated on the date on which the municipality in which the undertaking is located was exempted from occupation.
(1) In the absence of a more severe criminal offence or a criminal offence to the courts, the district national committee for administrative misconduct shall penalise by imprisonment up to one year or by a fine of up to 1,000,000 K or both at the same time:
(a) who intentionally infringes the provisions of Sections 1, 2, 3 and 4 of this Decree;
(b) any person who makes intentionally incorrect information which is relevant for the clearance of the case in the application for credit for the purposes referred to in Article 4 (1);
(c) a debtor who intentionally fails to fulfil, in whole or in part, the obligations of the guaranteed State credit;
(d) a debtor who, in respect of a loan granted under this decree, acts intentionally in such a way as to thwart or diminish the satisfaction of the creditor;
(e) a debtor who uses the funds obtained by a loan pursuant to § § 2 or 4 for a purpose other than that for which the loan was intended.
(2) If the facts referred to in paragraph 1 have been set up only out of negligence, the penalty shall be imposed according to the degree of guilt, either in prison within 3 months or in a fine of 250,000 K or both.
(3) In the event of non-compliance with the fine, a replacement prison sentence shall be imposed according to the rate of guilt in the cases of paragraph 1 within one year, in the cases of paragraph 2 within 3 months, in addition to the prison sentence after the case already imposed.
(4) Penal proceedings shall be carried out in all cases on a proposal submitted by the Minister of Finance in agreement with the Minister of Business. The motion may be withdrawn until the issue of a criminal finding in the first chair. Legal persons shall be held liable by those who manage them under the applicable rules. However, legal persons shall be liable for fines imposed on those administrative authorities.
Paragraph 4, 6 and 9 shall also apply to cases in which a loan has been granted to economic undertakings to maintain operations starting from the date of exemption from occupation.
This decree takes effect on the day of its publication and applies in the Czech and Moravian-Silesian countries; It shall be implemented by the Finance Minister in agreement with the Ministers involved.
Dr Beneš v. r.
Fierlinger v. r.
Dr. Šrobár v. r.
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Regulation Information
| Citation | Decree No. 78 / 1945 Coll., on Temporary Financial Security for Economic Enterprises |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.10.1945 |
|---|---|
| Effective from | 04.10.1945 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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