Decree No. 80 / 1958 Coll.
Decree on the full text of Act No. 107 / 1953 Coll., on Foreign Exchange Economy
Valid
80.
Decree of the Minister of Finance
of 11 December 1958
on the full text of Act No. 107 / 1953 Coll., on Foreign Exchange Economy
Pursuant to Article 2 of Act No. 64 / 1958 Coll. I declare in the annex the full text of Act No. 107 / 1953 Coll., on Foreign Exchange Economy, resulting from Article 1 of Act No. 64 / 1958 Coll.
Děuriš v. r.
Annex to Decree No 80 / 1958 Coll.
Law
of 22 December 1953 No 107 Coll.,
on the foreign exchange economy, as resulting from Act No. 64 / 1958 Coll.
The National Assembly of the Czechoslovak Republic decided on the following Act:
Successful implementation of the national economic development plan requires that the export and import of money and other values, the performance of salaries abroad and abroad, as well as the handling of certain values, be readjusted and subject to control under this law.
(1) Exports and imports of Czechoslovak money are prohibited.
(2) The Minister for Finance may, in agreement with the Minister for Foreign Trade, authorise exemptions from the provisions of paragraph 1.
(3) Exports and imports of payment documents (cheques, bills, vouchers, credentials and other payment orders) denominated in the Czechoslovak currency and the Czechoslovak money withdrawn from circulation are allowed only with the permission of the Ministry of Finance.
(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, mortgage bonds, interest and dividend coupons and talons), including books, life insurance policies, deposit certificates and full powers to deal with foreign assets.
(5) Imports of the values referred to in paragraph 4 are 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.
(6) Imported foreign money, payment documents denominated in foreign currency and precious metals may be exchanged or monetized only through the Czechoslovak State Bank or other places within the country. 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.
(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.
(1) The Czechoslovak State Bank makes payments abroad and assigns foreign currencies to foreign trade undertakings and to foreign goods traders not subject to the rules on the State organisation of foreign trade to pay their obligations arising from the conduct of foreign trade and international mail. This is without prejudice to the rules on the management of foreign trade and international mail. Salaries on grounds of patent or stamp and model protection, as well as royalties of all kinds, salaries for technical documentation, improvements and discoveries and similar salaries shall be carried out by the State Bank of Czechoslovakia on the basis of the permission of the Ministry of Foreign Trade.
(2) In cases other than those referred to in paragraph 1, the State Bank shall carry out Czechoslovak remuneration abroad and allocate the foreign currency only on the basis of the authorisation of the Ministry of Finance.
(3) The Government will determine how foreign exchange rates are to be determined and determine the prices of gold and other precious metals for domestic purposes.
(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 fall within the scope of this Act, such authorisation shall be granted by that Ministry.
(1) Natural persons resident or resident in the Czech Republic for at least 1 year, Czechoslovak nationals residing abroad under the orders of the Czechoslovak State and other institutions, and family members of such persons residing abroad, as well as legal persons having their registered office in the Czech Republic (hereinafter referred to as "foreign exchange residents"), are required to:
(a) to ensure that they are paid, through the Czechoslovak State Bank, their claims on abroad, whatever the way they have acquired them, immediately upon payment by remuneration to the domestic bank, by payment in the currency to which the claim is denominated, or in the manner and within the time limit laid down by the Ministry of Finance, or, in respect of the repayment by the Ministry of Foreign Trade of claims in respect of undertakings or of cases referred to in Article 4 (1), by the Ministry of Foreign Trade;
(b) offer to the Czechoslovak State Bank for purchase no later than 10 days after acquisition or after becoming foreign exchange domestic, foreign exchange money, foreign exchange payment documents and precious metals;
(c) to monetize, at the request of 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 obey his orders in respect of other handling of those values; in respect of patent, licence, grade and model rights, the competent Ministry of Foreign Trade shall be responsible for the invitation or order.
(2) Foreign domestic persons staying abroad for any reason shall offer the values referred to in paragraph 1 (b). b) State Bank of Czechoslovakia within 10 days of returning to the Czech Republic.
(3) The obligations referred to in paragraphs 1 and 2 shall continue to apply where the foreign exchange seal has in its possession values to be paid or offered or monetized.
(4) The Minister of Finance may:
(a) provide that certain persons are not considered to be foreign exchange domestic even if they have been resident in the country for more than 1 year;
b) allow relief from the obligation to offer the State Bank of Czechoslovak precious metals.
(1) Foreign domestic residents are required to report:
(a) claims on foreign persons, immovable property and shareholdings which have foreign assets, their foreign funds and claims on foreign persons for inheritance, a reference or other cash transactions for any reason;
(b) the monetary values and domestic properties of foreign exchange foreign exchange residents which are or manage foreign exchange foreigners; foreign exchange foreigners shall be treated as natural and legal persons other than foreign exchange residents;
(c) foreign liabilities;
within 10 days of the creation of those rights and obligations, the acquisition of values, their possession or administration, or after they have become foreign exchange domestic, or 10 days after they become aware of the creation of rights and obligations or the acquisition of values. Foreign domestic residents who are staying when they are obliged to report abroad shall report within 10 days of their return to the country. Foreign exchange residents are required to report in the same way changes concerning the rights, obligations and values referred to in points (a), (b) and (c) as well as their demise.
(2) Foreign exchange residents are obliged to submit, at the request of the Ministry of Finance and of the authorities authorised by them or, where appropriate, of the Ministry of Foreign Trade, other reports and reports of circumstances directly and indirectly relevant to the foreign exchange economy and to provide the necessary documents.
(3) The methods of reporting (paragraphs 1 and 2) and any concessions are laid down by the Minister for Finance, for undertakings or for claims and obligations in the cases referred to in Section 4 (1), the Minister for Foreign Trade.
(4) The values referred to in points (a) and (b) of paragraph 1 may be treated only with the permission of the Ministry of Finance, in the case of undertakings or in the cases referred to in paragraph 4 (1) only with the permission of the Ministry of Foreign Trade, except as regards their reimbursement to the domestic, monetization or other treatment of them pursuant to Article 5.
(5) Foreign exchange residents are required to take care of the protection of their claims and their timely payment as well as the other values referred to in paragraph 1 (a).
(6) Foreign exchange residents may not, without the approval of the Ministry of Finance and as regards the undertakings referred to in Article 4 (1) and the patent, licence, stamp and model rights, without the authorisation of the Ministry of Foreign Trade:
(a) pay domestic foreign exchange residents or any person for their benefit or from their domestic property in any currency or in any way;
(b) enter into contractual obligations in proportion to abroad or recognise obligations in proportion to abroad;
(c) to transfer to foreign exchange foreign exchange companies their domestic real estate and fund values, as well as copyright, publishing, patent, stamp, protected designs and inventions, and to grant them these rights and rights to production processes.
(7) Foreign domestic residents may not purchase foreign money, payment documents denominated in a currency other than the Czechoslovak currency, precious metals and foreign funds, except in the cases referred to in Article 4 (1), without permission from the Ministry of Finance.
(8) If the debtor's performance, which is enforced by the court, is subject to authorisation, the court shall permit the execution only if such authorisation is submitted to it. The creditor may also apply for authorisation to pay the debtor.
(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) In carrying out inspections and inspections (paragraphs 1 and 2), the legal provisions on the protection of the freedom of persons, home and secret of letters must be investigated.
(4) State authorities and other bodies 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.
(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 State Bank of Czechoslovakia may, with the approval of the Minister of Finance, delegate other organisations to the tasks which the State Bank of Czechoslovakia is obliged to perform under this Act.
Act No. 92 / 1946 Coll., on Bound Foreign Exchange Economy (Foreign Exchange Act), as amended by Act No. 184 / 1948 Coll., Government Decree No. 37 / 1952 Coll., on the jurisdiction of the Ministry of Foreign Trade in Foreign Exchange Matters, and all provisions issued under them, are hereby repealed.
This Act shall take effect on 1 January 1954; *) it shall be implemented by the Finance Minister in agreement with the participating members of the Government.
*) The amendments made by Act No. 64 / 1958 Coll. take effect from 6 November 1958.
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Regulation Information
| Citation | Decree No. 80 / 1958 Coll., on the complete version of Act No. 107 / 1953 Coll., on the Foreign Exchange Economy |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 24.12.1958 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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