Decree No. 86 / 1947 Coll.
The decree on the agreement between the Czechoslovak Government and the Indian Government on monetary claims and assets in Czechoslovakia and British India, which were subject to special measures because Czechoslovakia was occupied by the enemy, negotiated on 27 February 1947 in Bombay
Valid
Effective from 27.02.1947
86.
Decree of the Minister for Foreign Affairs
of 22 May 1947
on the agreement between the Czechoslovak Government and the Indian Government on monetary claims and assets in Czechoslovakia and British India, which were subject to special measures because Czechoslovakia was occupied by the enemy, negotiated in Bombay on 27 February 1947.
(Translation)
Agreement
between the Czechoslovak Government and the Indian Government on cash claims and assets in Czechoslovakia and British India, which were subjected to special measures because Czechoslovakia was occupied by the enemy.
The Government of India and the Government of the Czechoslovak Republic, wishing to conclude an agreement in order to facilitate the repayment of monetary claims and assets in Czechoslovakia and in British India, which belong to persons who have and had their residence in British India or Czechoslovakia and have been subjected to special measures because Czechoslovakia was occupied by the enemy, have agreed as follows:
Subject and scope.
(a) As regards British India, this agreement will concern the claims and assets of persons in Czechoslovakia, which are subject to Regulation 114 of the Defence Regulations of India (hereinafter referred to as the Code cited). With regard to Czechoslovakia, the agreement will concern the claims and assets of persons in British India, which were subject to special measures after 3 September 1939.
(b) For the purposes of this Agreement, the term "Czechoslovak persons" means persons whose monetary claims and assets have been subject to quoted regulations only because they have or have had their residence in Czechoslovakia or have been engaged and have engaged in business or business activities in Czechoslovakia. The term "persons in British India 'refers to persons whose claims on money and assets have been subject to a special scheme only because they are engaged in business or business activities in British India.
This agreement does not concern the legal status of cash claims and assets of persons in Czechoslovakia and persons in British India as regards tax and foreign exchange legislation applicable in British India or Czechoslovakia.
The issue of monetary claims and assets in British India, which belong to British nationals residing in Czechoslovakia and which have been dealt with in accordance with the provision cited, will be regulated by a special agreement.
Cash receivables.
Balances of bank accounts. - The balances of bank accounts belonging to persons belonging to Czechoslovakia and those in British India will be given to the original account owners or their successors for free use.
Commercial debts, interest and other contractual cash claims of a similar nature. -
(a) The amounts which are now in the hands of the steward of enemy property for British India (the "steward") in respect of commercial debts, interest and other cash claims of a similar nature to those belonging to persons in Czechoslovakia will be transferred to the Czechoslovak Government to satisfy creditors' claims.
This provision does not prevent the Indian Government, where it considers that such a move is justified, from agreeing with the Czechoslovak Government that the money that is now in the hands of the custodians will be returned to the people who have made it.
(b) The Czechoslovak Government recognises that persons in Czechoslovakia who are debtors of persons in British India remain under the obligation of their creditors as regards the monetary claims referred to in this Article until the debts are fully settled under the relevant contracts. In this respect, the Czechoslovak Government will help creditors in British India to seek out and identify their debtors and will facilitate the recovery of their claims on the original debtors, their heirs or legal successors.
Other cash claims. - For other cash claims, such as those arising from the sale of goods, from links or from custody or from settlement or for other reasons, it shall be treated in accordance with the provisions of Article 5.
Property.
Securities. - Securities belonging to persons in Czechoslovakia and persons in British India will be surrendered to the original holders or their legal successors for free use.
However, it is recognised that securities debited in one country for banks in the other country shall be released only if it is shown that the pension does not belong to persons who reside in or pursue business or business in the country with which His British Majesty is in war, or legal persons established under the law of that country.
Real estate. - Persons in Czechoslovakia and persons in British India will be able to repossess and manage their immovable property.
Motivated property. - Both governments will help each other, according to their best efforts, to locate the movable property of persons in Czechoslovakia and persons in British India, and to return it.
Trade, literary and artistic property. - In those cases where no special agreement determines how to deal with business, literary and artistic property rights, they shall be treated in accordance with this agreement.
Commercial, money and industrial enterprises. - Any restrictions (other than those applicable to all persons resident in Czechoslovakia or in British India) which now prevent persons in Czechoslovakia from remanaging or managing such enterprises in British India, will be abolished and any restrictions which might prevent persons in British India from remanaging or managing their businesses in Czechoslovakia will also be lifted.
General provisions.
Transfer guarantee. -
(a) The Czechoslovak Government undertakes to detain, if necessary in order to avoid foreign exchange difficulties which otherwise prevent the transfer of money owed by persons in Czechoslovakia to persons in British India, the amount of pounds of sterling sufficient to transfer commercial debts, interest and other commercial and financial payments of a similar nature to be paid from time to time to persons in British India.
(b) The amount of pounds of sterling and the period of detention shall be agreed with the Czechoslovak Government.
Dispossession of possession. - The Czechoslovak Government will not treat British Indian members less favourably than the Czechoslovak people with respect to the assets in Czechoslovakia, whose holdings have been deprived of acts of the kind referred to by the Allied Declaration of 5 January 1943, or which have been affected by discriminatory laws, and will take the measures necessary to ensure that the damaged rights or interests of the British Indians are put in the previous state.
Removing legal obstacles. - Both contracting governments agree that they will consider removing legal obstacles (including limitation periods) arising as a result of a war that would impede the fair elimination of outstanding commitments.
Unfinished liquidation. - Both Contracting Governments shall consult each other on outstanding issues which could arise from liquidation or similar proceedings under the law on the custody of hostile property.
Residency of deceased persons. - It is agreed that the provisions of this Agreement will not be applied when dealing with the survivors of Czechoslovak persons in British India, who died after their claims for money and their property have been subject to quoted provisions, until a legal representative has been appointed.
Fees. - Fees already collected by the competent authorities on claims on or assets covered by this Agreement shall not be refunded. Neither party will charge any additional fees on such claims or assets, but will be able to charge compensation for expenses incurred during the management and supervision of such assets.
Implementation. - The Contracting Governments shall consult each other on how to decide on the details of the procedures for implementing this Agreement, which shall take effect on the date of signature.
On the conscience of the signature, duly authorised by their governments, they signed this agreement and attached their seals to it.
Dane in Bombay in two copies on 27 February 1947.
For the Government of India:
S. K. Sen v. r.
For the Government of the Czechoslovak Republic:
H. Klatko v. r.
It shall be declared that, pursuant to Article 18 thereof, the Agreement entered into force on the date of signature, i.e. 27 February 1947.
Masaryk v. r.
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Regulation Information
| Citation | Decree No. 86 / 1947 Coll., on the Agreement between the Government of Czechoslovakia and the Government of India on cash claims and assets in Czechoslovakia and British India, which were subject to special measures because Czechoslovakia was occupied by an enemy, negotiated in Bombay on 27 February 1947 |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 09.06.1947 |
|---|---|
| Effective from | 27.02.1947 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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