577/1990 Coll.



GOVERNMENT REGULATION



The Czech and Slovak Federal Republic



of 17 May. December 1990



on the financial management of State-owned enterprises



The Government of the Czech and Slovak Federal Republic orders under section 36

Act No. 111/1990 Coll., on the State of the enterprise:



PART THE FIRST



Financial management of the State Enterprise



§ 1



Own financial resources of the State Enterprise



Own financial resources of the State Enterprise (hereinafter referred to as "the company") are



and equity) stem and a reserve fund,



(b) the profit generated from any) activity of the company, established in accounting

(hereinafter referred to as "profit") and enterprise funds to finance its needs, generated by the

from the profit.



§ 2



Stem equity



(1) Tribal property as a long-term source of own financial asset coverage

the company creates a balance of basic resource and investment fund,

obratového of the Fund and the Fund of securities [section 10, paragraph 2 (a))] and

transfer a balance is adjusted to the Development Fund pursuant to § 10 para. 3 (b). (b)), and

§ 11 (1) 2.



(2) the Ordinary equity at year end can be raised under section 3 (1). 3 or

reduced pursuant to § 3 (2). 4.



§ 3



Reserve Fund



(1) the reserve fund produces Enterprise allocation of profit (profit accumulation),

as a fixed custom financial source to cover losses or exceeding the

the distribution of profits (hereinafter referred to as "fluctuations in financial management"), to cover the

the increment of the naked foreign assets long-term resource, or when the

the reduction of the participation of foreign long-term resources.



(2) the minimum annual profit allocation to the reserve fund until such time as

achieve a minimum balance of the Fund shall be five percent of the profit after

its use pursuant to section 4 (b). a) (hereinafter referred to as "applicable profit"). Minimum

the balance of the reserve fund is 10 percent of the equity of a business.



(3) the balance of the reserve fund, which at the end of the year exceeds that laid down

the balance referred to in paragraph 2 may be used to increase the equity

Fortune.



(4) where the volume of fluctuations in the financial management of the company at the end of the year

exceeds the balance of the Reserve Fund and the fluctuations in the financial

management not covered by the consolidation loan or a temporary financial

assistance from the relevant budget, reduces this overrun of the stem

Fortune.



§ 4



Profit



The firm uses the profit



and payment of contributions) of profits and taxes, regulatory charges and pricing

paid from the profit, "^ 1") to pay the taxes paid in a foreign country, or to

payment of insurance premiums in accordance with special regulations, ^ 2)



(b)) to the allocations to the reserve fund, the Fund for cultural and social

needs, to funds generated pursuant to § 5 para. 2 and to pay the expenditure referred to in

the company's decision, which cannot be reason to meet revenue (tax)

include in the cost (hereinafter referred to as "the other use of profit"),



(c)) to transfer to retained earnings in the next year.



§ 5



Funds of enterprises



(1) an enterprise shall be established



a) Reserve Fund,



(b)) the Fund for cultural and social needs.



(2) the company may set up other funds generated only allocation of

the applicable profit after use according to § 3 (2). 2, fund fees and

other funds at their discretion.



(3) the company may save money on one or more

deposit accounts.



(4) the source of each fund referred to in paragraph 2 shall be mutually

transferable. The undertaking may also be sources of these funds to supplement

the allocation to the reserve fund under section 3 (1). 2 and to supplement the profits for

its distribution.



(5) the company shall not pay expenses from the funds referred to in paragraph 1 (b). (b))

and in paragraph 2 above, the volume of the created resources in them.



§ 6



Cultural and social needs Fund



(1) the Fund for cultural and social needs, creates and uses the undertaking by

the specific rules, ^ 3) also provides for a minimum amount of allocation

of the profits to the Fund.



(2) the minimum mandatory allocation to the Fund is guaranteed from the relevant

the budget, if applicable profits after allocation to the reserve fund under section

3 (2). 2 may not be sufficient for this allocation, and that, in cases where such a

the lack of profit



and did not arise because of allocations) from profit to the funds established under section 5 of the

paragraph. 2, or from other non-profits under section 4 (b). (b)),



(b)) is not the cover of the balance of the reserve fund or fund balances established by the

According to § 5 para. 2, or consolidation loan or a temporary

financial assistance from the relevant budget.



§ 7



The Fund rewards



The Fund may venture to create allocation from profit according to § 5 para. 2.

If a business will not create this Fund, is obliged to pay the expenses

that cannot be in accordance with special regulations for streamlining payroll

resources include in the cost, finance as the other profits.



§ 8



Other funds of the enterprise



An enterprise can create other funds exclusively allocation from profit according to § 5

paragraph. 2 and use them at your discretion.



§ 9



Penalties



(1) an undertaking is obliged to pay a penalty to the appropriate State budget,

If you fail to comply with a minimum annual allocation to the reserve fund

According to § 3 (2). 2 or reduced stem equity pursuant to § 3 (2). 4, of the

because of the use of the profit to the allocations to the funds pursuant to § 5 para. 2 or

the rest of the profits.



(2) finance charge memo amounts to one percent of the amount by which the undertaking does not comply with the amount of

a minimum annual allocation to the reserve fund or you will reduce the

Tribal assets referred to in paragraph 1.



(3) when determining the penalty payment and its payment shall be applied, mutatis mutandis, in accordance with

special prescription. ^ 4)



(4) the benefits of the finance charge referred to in paragraph 2 may, in justified cases,

enable the Federal Ministry of finance to companies in the scope of

Federal central authorities and the Ministry of finance

Republic to undertakings in a scope of the republics.



§ 10



Transfer of balances of funds



(1) an enterprise converts the single-purpose funds balances that have been fully

or in part, other than profit. December 1990 to reserves

If the accounting rules allow you to finance expenditure from the cost with

their time-sensitive; Special purpose fund balances to retained

Converts a venture into emergency reserves.



(2) the company shall cancel the following funds so that the



and basic resource Fund) balances and investments of the Fund and obratového

the Fund of securities transferred to the equity,



(b) the balance of the Fund Development) converts into equity; in doing so, however,

the firm, which created the Fund and the financing of expenditure on the development of science

and techniques, some of this Fund convert in the reserve for the financing of

non-investment expenditure on the development of science and technology. If the enterprise

ran out of its development fund created by the sources and such

pumping is covered by a bank loan, it converts the balance of the Fund to the cost

the next period; If such is not covered by the Bank loan drawdown,

cancels the balance of the Fund for the development of converting to equity (reduces stem

a Fortune).



(3) the company uses the following balances of funds so that the



and the balance of the Fund) for cultural and social needs of the converts to the next

the use of this Fund to finance him paid. ^ 3)



(b) the balance of the Fund rewards) can convert to continue to use this Fund to

financing of expenditure which cannot be under a special regulation to guide the

Payroll resources include the costs; If the company decides to

to finance these expenses as the other use of profit transfer

Fund to retained earnings. If the enterprise runs out of the Fund rewards over the

its created resources and this crossing cannot deal with reserve

the Fund is not covered by the overrun or consolidation loan, or

temporary financial assistance from the relevant budget cancels the business

the transfer of the balance of the Fund into equity (reducing the tribal capital),



(c) the additional funds generated by) balances pursuant to § 5 para. 2 an undertaking

convert to the continued use of these funds or retained earnings,

If he chooses to finance expenditure paid out of them as the other use

profit; variations in the financial management at the end of the year 1990

Fiat resources referred to in the last sentence of section 10(4). 3 (b). (b))

It balances these funds to the settlement of fluctuations in the financial

management,



(d) the balance of the Reserve Fund) converts to continue to use this Fund

as the fixed custom financial resources pursuant to § 3 (2). 1; before

This transfer, however, the balance of the reserve fund tackles pumping

Compensation Fund over its resources created within the meaning of § 10 para. 3

(a). (b)), or fluctuations in financial management at the end of the year 1990

under section 11 (1) 1.



§ 11



Fluctuations in financial management at the end of the year 1990



(1) the fluctuations in financial management at the end of 1990 (from previous years

even the current year) tackles enterprise by 1. January 1991; If

their settlement may not be sufficient retained earnings from current year

or past years or balances funds pursuant to § 10 para. 3 (b). (c)),

the company is dealing with the balance of the reserve fund.



(2) If a settlement of fluctuations in the financial management of resources will not be sufficient

referred to in paragraph 1 and these fluctuations are not covers or consolidation

credit or temporary financial assistance from the relevant budget, converts

undertaking and the exposed amount unsettled fluctuations in financial management

in consolidated equity (ordinary capital decreases).



§ 12



Special provisions




For the enterprises with the number of the 100 workers is the profit the difference between the cash

income and cash expenditures, reduced by depreciation of fixed assets.

While the cash income and cash expenditures for these purposes

do not include the revenue and expenditure of the funds referred to in paragraph 6 to 8 and cash expenses

paid like the other profits. The founder may, however, provide that

These companies will be in its financial management to proceed in accordance with § 1

up to 11.



PART TWO



Transitional and final provisions



Transitional provisions



section 13 of the



All the central authorities which are to establish departmental funds, these funds

cancels transfer their balances to the relevant State budget

where appropriate, to the newly established State funds with the consent of the Government of the Czech and

Slovak Federal Republic, of the Government of the United Kingdom or, where appropriate,

the Government of the Slovak Republic in the context of the settlement of the financial relations

the central authorities of the State budget for 1990.



§ 14



(1) enterprises of foreign trade ^ 5) will proceed in accordance with § 1 to

11 and section 16 of this regulation.



(2) joint stock company foreign trade based according to a special

prescription ^ 6) and the Association for foreign trade, ^ 7) which, in your

financial management has not yet follow the regulation of the Government No. 208/1989

Coll., on financial management of State-owned enterprises and some other

Socialist organizations, the provisions of article 10 and 11 of this regulation.



(3) joint stock company foreign trade increased by stem equity

created pursuant to section 10 and 11 of the capital.



(4) the Association for foreign trade increased by the tribal capital created

under sections 10 and 11 of the statutory fund.



§ 15



Businesses and other organisations referred to in section 14 shall be carried out prior to the procedure

laid down in article 10 and 11 of this regulation, the financial settlement of the year 1990

under the Government Decree No 208/1989 Coll. and no. 127/1988 Coll.; in doing so,

not apply to § 13 para. 5 the Government Decree No 208/1989 Coll., on completion

the Fund at the end of obratového.



section 16 of the



(1) if the dissolution of the undertaking, and inserting his fortune to stock

the company will be applied, as appropriate, any other form of business, shall draw up

company balance sheet for the last day of the preceding month, and performs

editing resources in the extent required pursuant to section 10 and 11.



(2) an enterprise with more than 100 workers, up to 200

workers, which was enabled by the competent Ministry of finance

exception from section 6 of Decree-Law No. 208/1989 Coll., can up to the period referred to

in paragraph 1 of the Act, in its financial management pursuant to § 12

of this regulation.



Final provisions



§ 17



On undertakings which, in its financial management before they follow

Regulation of the Government of the Czechoslovak Socialist Republic No. 127/1988 Coll.

on the financial management of State-owned enterprises, farms

cooperatives and joint ventures the agro-food complex

on 1 January 2004. January 1991 not covered by Government Regulation No. 127/1988 Coll.



section 18



Regulation of the Government of the Czechoslovak Socialist Republic.

208/1989 Coll., on financial management of State-owned enterprises and some

other socialist organisations.



§ 19



This Regulation shall enter into force on 1 January 2000. January 1991.



Čalfa in r.



l) Act No. 156/1989 Coll., on contributions to the State budget.



2) Decree of the Prime Minister no. 91/1958 Coll., shall be published

measures the LEVEL of organization and implementation of health insurance

employees, as amended.



3) Decree of the Federal Ministry of finance, Ministry of finance, prices

and the wages of the Czech Socialist Republic and the Ministry of finance, prices and wages

Slovak Socialist Republic No. 210/1989 Coll., on the Fund for cultural and

social needs.



4) § 19 para. 3 of Act No. 156/1989 Coll.



5) Act No 42/1980 Coll., on economic relations with foreign countries, in

amended by Act No. 102/1988 Coll., and Act No. 113/1990 Coll.



6) Law No. 243/1949 Coll., on limited liability companies.



7) international trade Code No. 101/1963.