Decree No. 93 / 1946 Coll.
Decree published by the National Bank of Czechoslovakia on certain provisions of the Foreign Exchange Act
Valid
Effective from 15.05.1946
93.
Decree of the Minister of Finance
of 3 May 1946
publishing the measures of the Czechoslovak National Bank on certain provisions of the Foreign Exchange Act.
According to Section 27, paragraph 6 of the Act of 11 April 1946, No 92 Coll., on the Bound Foreign Exchange Economy (Foreign Exchange Act), I declare the attached measure of the Czechoslovak National Bank of 2 May 1946. The measure shall take effect on the day of its publication.
Dr. Šrobár v. r.
Measures
Czechoslovak National Banks
certain provisions of the Foreign Exchange Act.
According to § 12, § 2 and § 3 and § 27, § 2 of the Foreign Exchange Act, the National Bank of Czechoslovakia provides:
Salaries for foreign exchange strangers.
Articles 7, 4 and 10:
(1) Without the authorisation of the National Bank, salaries may be paid in domestic currency to foreign exchange foreign exchange offices or other public bodies and treasuries, provided that such salaries are intended for the payment of taxes, fees, public benefits, fines and waivers owed by foreign exchange exchange abroad and that the claims owed by foreign exchange exchange outside the country in respect of which the salary is paid are incurred.
(2) Without the permission of the National Bank, rent or smelting may be paid in domestic tender from the foreign exchange foreign exchange property in the home country to the national administrator of that property, which may, without the permission of the National Bank, cover the expenses associated with the management and maintenance of that property. The remainder not used in the calendar year shall be settled by the administrator by the end of February next year at the foreign exchange bank for the account of the foreign exchange stranger. If the gross annual rent or rent on the property exceeds CZK 10,000, the property manager shall submit to the National Bank, by the end of February next year, a clear compilation of the income and issue for the previous year, indicating when the property was registered by a foreign exchange stranger.
(3) Without the permission of the National Bank, domestic salaries may be paid in national currency to a domestic lawyer, notary (in Slovakia to a public notary) or to a foreign exchange bank for the benefit of foreign exchange foreign exchange foreign exchange. However, lawyers, notaries (public notaries) and foreign exchange banks shall be required to obtain, within 10 days, permission from the National Bank to make a salary for the benefit of a foreign creditor and, failing that, to repay the amount without delay.
(4) Without the permission of the National Bank, foreign exchange residents may receive salaries from foreign exchange foreigners to cover expenses associated with their stay in the country (provision in the hotel, domestic travel, purchase of items for personal use, souvenirs' items, etc.).
(5) Without the permission of the National Bank, the foreign exchange seal may not pay for foreign exchange aliens for any costs of his stay in the country, whether for any reason or not.
Customs claims on foreign exchange foreigners.
C 7, 4, 17 and 20:
(1) The customs authorities may, without authorisation from the National Bank, accept foreign exchange residents as security for customs claims or for the payment of such claims by the State of debt, savings or deposit books or cash, and may again issue without the permission of the National Bank after the failure to provide such security.
(2) Money institutions may, without the permission of the National Bank, issue securities directly to the customs office as security for a customs claim, unless they are bound for reasons other than exchange. However, such securities shall be issued only to the monetary institution from which they were taken over after the reason for the collateral lapsed.
(3) Lending or selling to foreign exchange strangers the values referred to in paragraph 1 as security for customs claims may only be authorised by the National Bank.
Indemnity.
C § 8 and 9:
(1) The levy does not apply to the own stock of foreign currency and precious metals of foreign exchange banks if they are reported to the National Bank by the foreign exchange banks and if the National Bank does not invite these banks to a levy.
(2) The National Bank is to be paid to all other currencies (cheques, bills, vouchers, credentials and other payment orders), as defined in the national official exchange rate sheet.
(3) The payment of the Devis from the States with which payment is regulated by an inter-state arrangement shall be carried out in the manner laid down in the National Bank's measures issued under Section 11 of the Foreign Exchange Act.
(4) The levy on devis from States with which no special payment arrangements are agreed shall be made either:
(a) directly to the account of the National Bank with its foreign correspondent; or
(b) indirectly to the account of a domestic foreign exchange bank with its foreign correspondent.
(5) Devices which are not marked on the domestic official exchange sheet are offered for sale by the foreign exchange bank within 10 days of the acquisition.
(6) The provisions of paragraphs 3 and 4 apply mutatis mutandis to the payment of notes and cheques denominated in domestic currency and payable abroad.
(7) Foreign exchange funds (banknotes, statuses, small paper and coins) are required by the acquirer to deliver to the National Bank within 10 days of the acquisition, either directly or through a foreign exchange bank; The National Bank shall decide whether to purchase these values, take them for collection or whether to be sent abroad for credit. In the same way, the National Bank may decide to take over foreign currency into custody or to leave it to a person by way of a levy or order their sale through a foreign exchange bank.
(8) With values which the National Bank leaves to a person by way of a levy or which cannot be temporarily monetized (paragraph 5), it is only allowed to use its permission.
Use of foreign currency and foreign residence claims.
C § 8, 9 and 18:
(1) Foreign domestic residents may use foreign currency and claims for their foreign residence only for the purpose indicated in the National Bank's authorisation and up to the permitted amount.
(2) Foreign exchange residents who, during their stay abroad, earn foreign currency for their work or their performance or claims on foreign exchange foreigners may, without the permission of the National Bank, use them to cover reasonable expenses associated with their activities and stay abroad (provision in the hotel, foreign travel, purchase of items for ordinary personal use, commemorative items, etc.). The provisions on compulsory contribution apply to the unused remainder, after reporting.
Export, import and transit of tender, securities and precious metals.
Paragraph 12, paragraphs 1 and 3:
(1)
(a) Exports of domestic and foreign currency are allowed only with the permission of the National Bank.
(b) Imports of domestic money are allowed only with the permission of the National Bank. Imports of other domestic currency (i.e. cheques, bills, vouchers, credentials and other payment orders) and foreign currency are free.
(c) The transit of domestic and foreign currency in consignments carried by public transport undertakings is free.
(d) Specific measures of the National Bank shall apply to the export, import and transit of domestic and foreign currency in travel.
(2)
(a) Exports and imports of securities and precious metals are permitted only with the permission of the National Bank. However, imports of gold and silver coins in travel are free.
(b) The transit of securities and precious metals in consignments carried by public transport undertakings is free. The transit of securities and precious metals in travel is only permitted if the person carrying them hand them over to the border customs office when entering the country, which will send them to the indicated address abroad at its expense and risk. Such a consignment, submitted by the border customs office for postal transport abroad, does not require the authorisation of the National Bank. The transit of gold and silver coins is allowed in travel when the foreign exchange alien who carries them takes them upon entry into the territory of the Czechoslovak Republic confirms their import by the local border control authorities in "Confirmation of import of tender."
(3) A post office may only be admitted for transport to a foreign country of a consignment containing tender, securities or precious metals if the grantor submits an export permit to the National Bank and submits it to the Post Office for testing its contents. The authorisation number of the National Bank and the year of its issue shall be indicated by the sender on the consignment, if any, on the postal guide. If the contents of the consignment agree with the contents of the National Bank's authorisation, the donor shall close the consignment under the supervision of the postal official. The post office will take over the warrant, post it on the back with its daily stamp and store it. If the contents of the consignment do not agree with the contents of the National Bank's authorisation, the mail shall not take over the shipment for transport.
The handling of tender, securities and precious metals from abroad without the permission of the National Bank.
Article 12 (2):
(1) If domestic money (banknotes, statuses, small paper and coins), securities or foreign-exchange precious metals are to be returned without the permission of the National Bank, or - after collecting any postal and other charges linked to the consignment, from the addressee (consignee) - they must be deposited with the Postal Savings Bank in Prague or Bratislava in favour of the sender in the interest-free "Bound account of domestic money obtained from abroad," or, in each case, in the case of securities or precious metals, in favour of the sender's deposit in the same institution.
(2) The post office is obliged to convince itself that they are not being transported in postal consignments from abroad by domestic money, securities or precious metals without the permission of the National Bank. Therefore, every valuable letter received from abroad must be opened in the recipient's presence and, if such values are found and missing in order to import them, will not be issued to the recipient. The beneficiary may then take measures to dispose of the contents of the consignment in accordance with paragraph 1 within the time limit laid down by the postal rules, provided that he has obtained the authorisation of the National Bank for import within that time limit and has taken over the consignment himself. The post office will take over the warrant, post it on the back with its daily stamp and store it.
(3) In the same way (paragraph 2), mail must be sent to all other mail from abroad if it is justified to suspect that it contains domestic money, securities or precious metals.
(4) Packages of foreign goods containing domestic money, securities or precious metals shall in any case be delivered by mail to the customs office to discuss them.
(5) If the addressee receives domestic money, securities or foreign precious metals otherwise than by mail, or in a postal consignment, the content of which has not been checked by post or customs office, he is obliged to notify the National Bank of Czechoslovakia in Prague within three days, the addressee in Slovakia to the National Bank of Czechoslovakia, the Regional Institute for Slovakia in Bratislava. The notification must be accompanied by proof of the consignment (label, correspondence and p.) as well as a list of the received money (by species), securities or precious metals. The same applies to foreign exchange banks, if they get domestic money, securities, or precious metals for their domestic addressees. The National Bank will decide how to deal with the values so obtained.
Arbitration stores.
K § 15:
Devis banks are allowed to conduct foreign currency arbitration transactions, excluding domestic currency, without the permission of the National Bank, if these transactions are obtained free exchange.
It's a death sentence.
C § 17, 18, 21 and 23:
The values referred to in Sections 17, 18, 21 and 23 of the Foreign Exchange Act are allowed to be freely acquired in the event of death and may be acquired from the estate without the permission of the National Bank.
Procedure and use of claims.
K § 18:
(1) Claims on foreign exchange foreigners may be passed on to foreign exchange banks without the permission of the National Bank.
(2) Without the permission of the National Bank, it is permitted to use claims abroad arising from the proceeds of foreign-based real estate to pay expenses directly linked to the management and maintenance of such real estate and to cover current interest payments and capital repayments of hypothetical loans. The National Bank is to be presented with a clear compilation of these salaries for the previous calendar year by 15 April of next year, together with a report on the change in the amount of the property return claims and the payment of the net property return received.
Free foreign accounts with foreign exchange banks.
Articles 19 and 10, paragraph 2:
(1) Foreign exchange banks' accounts, which have been held so far as "free foreign exchange accounts," are, in future, only "foreign exchange accounts" within the meaning of the Foreign Exchange Act and, as such, indicate them, unless the National Bank has allowed the account to continue as a free foreign exchange account.
(2) Foreign exchange accounts may be held in CKS or in another currency.
(3) Foreign exchange bank accounts are "free foreign exchange accounts" and are marked as such,
(a) where a free Devis is established in a foreign currency exclusively for credits; or
(b) if the credit notes of the free Devis received by the National Bank are set up in the CKS; or
(c) if they are held as free foreign accounts authorised by the National Bank.
(4
(5) No authorisation by the National Bank is required for the credits of the free Devis as well as the countervalues of the free Devis to the Free Foreign Account.
(6) With credit balances of vacant foreign accounts may be available without the permission of the National Bank to the domestic bank (without prejudice to § 7 (3) of the Foreign Exchange Act), as well as abroad. Mutual transfers between such accounts are also free.
Handling patent rights.
K § 23:
Without the permission of the National Bank, it is permitted to enter into legal proceedings with foreign exchange foreigners by which the foreign exchange seal acquires patent rights, where the remuneration is not higher than 10,000 CZK per year.
Method of submitting applications for authorisation.
K § 27:
(1) Applications for authorisation under the Foreign Exchange Act are to be submitted to the National Bank only on official forms and, in principle, through cash institutions or financial undertakings.
(2) Money institutions or money undertakings shall examine the identity of the person or firm before making the application referred to in paragraph 1.
Validity of existing permits.
This measure repeals all authorisations (concessions) granted by the National Bank under the current foreign exchange regulations, unless they are authorisations issued after 1 January 1946.
Repeal clause.
The activities, after usability, will cease all measures of the Czechoslovak National Bank as regards the former National Bank for Bohemia and Moravia in Prague and the Slovak National Bank, issued on the basis of legislation whose effectiveness, if applicable, has been abolished by the provisions of Section 49 of the Foreign Exchange Act.
Done at Prague, 2 May 1946.
National Bank of Czechoslovakia
Dr. Heavens v. r.
Dr Chmela v. r.
Oliva v. r.
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Regulation Information
| Citation | Decree No. 93 / 1946 Coll., which publishes the measures of the Czechoslovak National Bank on certain provisions of the Foreign Exchange Act |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 15.05.1946 |
|---|---|
| Effective from | 15.05.1946 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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