Cancellation Of General And Auxiliary Fund By The Financial Institutions In Czechoslovakia

Original Language Title: Zrušení Všeobecného a Pomocného fondu peněžních ústavů v ČSR

Read the untranslated law here:

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157/1949 Coll.


of 15 November 2004. June 1949

repealing General Fund financial institutions in the Republic of

Czechoslovak and Auxiliary Fund for financial institutions.

The National Assembly of the Republic passed on this

the Act:

§ 1

General Fund financial institutions in the Republic of Czechoslovakia (hereinafter referred to as

"General Fund"), which was set up by the law of 10 June 1999. October 1924, no.

238 Coll., and whose legal relations were governed by the law of 21 March.

April 1932, no. 54, Coll., government regulation of 30 May. June 1937, no. 161

Coll., and act of 11 June 2002. June 1947, no. 112, the auxiliary Fund

financial institutions (hereinafter referred to as "the Fund"), established by the law of 22 March.

July 1941, no. 172 Col. z., whose legal relations were regulated by law

of 11 December 1997. June 1947, no. 112 Coll., shall be abolished on 31 December. December 1948

without going into liquidation and all their rights and obligations devolves on January 1. January

1949 to the Czechoslovak State.

§ 2

(1) the interest rate of the bonds and commitments of the General Fund of the auxiliary Fund

reduced to 3%, if interest came after 31 December 2006. December 1945 and, if

amounted to more than 3%.

(2) the debt service of the bonds General Fund that was protection are ensured

According to the Decree of 9 June. November 1939, no. 28, Coll. of r. 1940

about the redemption of coupons of the bonds a special fund for the mitigation of losses

risen have from post-war conditions and bond General Fund cash

institutions, pursuant to section 8 of the Decree-Law of 24 December 2002. September 1940, no. 242

SL, on the mandatory list and forced the custody of bonds of the Special Fund

to mitigate the loss of the post-war conditions and risen have bonds

General Fund financial institutions and other reporting commitments, and

claims against those funds, and under section 1 of the Decree-Law of

on 31 December 2004. March 1944, no. 34 Sl. z., amending and supplementing Regulation with

Decree-Law No 242/1940 SL. z., and liabilities of the auxiliary Fund caters from

1 January 1949 the Ministry of finance in accordance with the rules on debt service

the internal public debt. The Minister of finance may by regulation decide

also about the General Fund debt service of the bonds to which the

not covered by the provisions of the first sentence.

§ 3

(1) the obligation of members of the General Fund and fund vybírati

and odváděti 3% contribution (articles 11 and 12 of the Act No 238/1924 Coll., as amended by

changing it and additional legislation, section 11, paragraph 1. 7 section 12 of Act No.

172/1941 Sl.) shall expire on 31 December 2006. December 1948.

(2) Posts for the period until 31 December 2006. December 1948 picks for Czechoslovak

State Investment Bank, national enterprise, even under the provisions of law No.

238/1924 Coll. in the wording of the rules to changing and supplementing and in accordance with

the provisions of Act No. 172/1941 Sl of., the Investment Bank, national enterprise,

the Czechoslovak State also picks for outstanding contributions and

Premium Fund for Assisting belonging to 31. December 1945 (section

10, and section 11, paragraph 1. 1 to 6 of Act No. 172/1941 Sl.). Supervision of the collection of

all contributions shall be exercised by the Ministry of finance.

(3) the scope of the associated Board of Trustees and General Fund Board of Trustees

The auxiliary Fund and their authorities under the existing regulations,

If the provisions of paragraph 2, does not imply otherwise, the Ministry of finance.

(4) In legal proceedings předsevzatá authorities of the General Fund and auxiliary

the Fund in the period from 1. January 1949 until the date of publication of this Act shall be deemed

so, as these authorities were acting on behalf of and for the account of the State.

§ 4

The Ministry of finance may, in cases worthy of special attention,

in particular, for reasons of public interest, to offer the essence of equity

General Fund and auxiliary Fund money institutes bailouts.

§ 5

This Act shall take effect on the date of the notice; It does the Minister


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