Law Concerning The Compensation For Foreign Bonds Closer

Original Language Title: Gesetz zur näheren Regelung der Entschädigungsansprüche für Auslandsbonds

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Law for more detailed rules on the compensation claims for foreign bonds (International bonds-compensation law)

Non-official table of contents

AuslWBDeG

Date of expend: 10.03.1960

Full quote:

" International bonds-compensation law in the revised version published in the Bundesgesetzblatt part III, outline number 4139-3, the latest by Article 3, paragraph 10, of the Law of 12. July 2006 (BGBl. 1466). "

:Last modified by Art. 3 (10) G v. 12.7.2006 I 1466

For details, see the Notes

Footnote

(+ + + text evidence application: 1.1.1964 + + +)
menu

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This provision shall not apply in the territory referred to in Article 3 of the agreement. L. I chap. IV Sachg. A Sect. I No 10 EinigVtr v. 31.8.1990 iVm Art. 1 G v. 23.9.1990 II 885, 964

First section
General

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§ 1 Definitions

The following definitions apply to this law:
1.
Cleanup Act is the law to clean up German debt securities denominated in foreign currency (eviction law for German foreign bonds-AuslWBG) of 25. August 1952 (Bundesgesetzbl. 553);
2.
Claims for compensation are the claims for compensation in accordance with § 53 AuslWBG and for redeeming items in accordance with § 54 AuslWBG;
3.
Compensation beneficiaries are persons to whom compensation claims pursuant to § § 53, 54 AuslWBG are entitled;
4.
Debt agreement is the agreement of 27. February 1953 on German foreign debt (Bundesgesetzbl. 331);
5.
The law on the implementation of the debt agreement is the law implementing the agreement of 27. February 1953 on German foreign debt of 24. August 1953 (Bundesgesetzbl. 1003);
6.
Rules offer is a rule of regulation according to Article 3 (g) of the Debt Agreement; as a rule offer within the meaning of this Act, also an offer pursuant to Annex I of the debt agreement;
7.
The exchange items are securities which are exchanged for the exchange of information submitted when the rules are accepted. Foreign bonds have been issued, as well as foreign bonds, which have been printed on the regulatory conditions after the adoption of the regulatory bid (Article 15 (2) (a) (i) and (ii) of the Debt Agreement).
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§ 2 Validating of the Cleanup Act

§ § 53, 54 AuslWBG apply to the compensation claims from the following

Second section
Compensation claims from fixed-order humble

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§ 3 Content of the compensation claim

(1) The issuer is committed to cash benefits to the person entitled to compensation, their currency, amount, interest rate, and interest rate. Maturity shall be based on the benefits which would be payable to the person entitled to compensation in the event of recognition of the foreign bond to which his or her notice of determination relates, according to the rule of law.(2) If the regulatory provision provides for the issuance of exchange pieces, paragraph 1 shall apply, on condition that the compensation is to be paid in accordance with the conditions applicable to the exchange pieces; exchange items shall not be entitled to the compensation entitled require. In the case of the services which the exhibitor has to pay annually for the repurchase or draw-out of exchange pieces, repayment payments shall be paid by the exhibitor to the person entitled to compensation each year for the partial repayment of the goods. The amount and maturity of these redemption payments shall be calculated on the basis of the conditions applicable to the exchange rate. If the exhibitor is entitled to cancel the exchange pieces, this power shall also apply to the compensation claims.(3) If, at the choice of the person concerned, the rule of law provides for a cash-off solution or the issuing of exchange pieces, the conditions applicable to the cash-off shall be the determining factor in the compensation.(4) If the issuer has not made any provision, it shall be obliged to pay the cash benefits arising from the debt agreement and its investments for obligations arising out of foreign bonds of the type designated in the notice of the determination. As long as the holders of recognised foreign bonds are not entitled to pursue their claims in accordance with Section 4 (2) of the Implementing Act to the debt agreement in court, the exhibitor is entitled to benefits to the claim for compensation. Non-official table of contents

§ 4 Claims from interest rates

(1) The claim for compensation includes the claims on interest rates in accordance with § 3. that after the 14. It was due to become due in March 1945. This shall not apply to interest-rate vouchers which, according to Article 1 of the Twelfth Implementing Regulation, are applicable to the eviction act of 11. August 1956 (Bundesgesetzbl. 742), have already been recognised or have already received the equivalent of the persons entitled to compensation. The rightwing acquirer (§ 38 AuslWBG) of one after the 14. The interest rate due in March 1945 may require that the person entitled to compensation shall give him the unwarranted enrichment under the provisions of the Civil Code in accordance with the provisions of the Civil Code in accordance with the provisions of the first sentence.(2) In accordance with § 3, the claim for compensation shall also include the claims from the claims before the 15. In the case of interest rates due in March 1945, for which the person entitled to indemnity for the purposes of applying the provisions of the eviction law applicable to the grant of a fixed-term notice would have claimed a notice of arrest. .(3) If the exhibitor denies the existence of the conditions set out in paragraph 2, the claim for compensation may be made before the 15. The Court of First Instance held that the interest rate which had become due in March 1945 shall be invoked only after the Board of Securities Settlement has extended the notice of determination by a final decision on the interest rate certificates. For the extension, the provisions of the eviction law applicable to the granting of a notice of arrest apply mutagenly; for the course of the registration deadlines (§ 37 para. 2 in conjunction with § 21 para. 1 AuslWBG), the date of the closing date shall be replaced by the date of validity of the date of validity of the date of the application. (4) Paragraphs 1 to 3 shall apply mutationally if, under the conditions applicable to foreign bonds of the kind referred to in the notice of determination, interest is to be paid against the deposit and the stamping of the original certificate. were. Non-official table of contents

§ 5 Start of service obligation

(1) The issuer's obligation to provide services begins two months after the date of entry into force of this Law, but not earlier than two months after the delivery of the regulatory bid.(2) Services which have been granted to holders of recognised foreign bonds of the type designated in the notice of determination in accordance with the rules of regulation at an earlier date shall be due at the beginning of the service obligation. It is not possible to claim interest in these services for the interim period.(3) If, according to a rule offer, the cash settlement provides for the duration of the rate of return to the date of recognition, the point at this point in time shall be the beginning of the duty obligation.(4) At the beginning of the service obligation, registrations or court proceedings in which foreign bonds issued by the exhibitor or interest-rate certificate are asserted from such foreign bonds, the exhibitor may provisionally retain his services, in so far as it could require a reduction in the claim for compensation in accordance with Section 53 (2) of the German Federal Foreign Minister (AuslWBG), taking into account the issued foreign bonds or interest-rate certificates. The benefits retained in accordance with the first sentence shall be recovered without delay if a reduction in the claim for compensation is no longer to be expected; the second sentence of paragraph 2 shall apply mutatily.(5) If, at the beginning of the service obligation, a notification pursuant to § 51 AuslWBG for the subsequent recognition of the foreign bond to which the notice of determination relates, paragraph 4 shall apply in accordance with the same provisions. Non-tampering table of contents

§ 6 Exclusion of subsequent cuts

(1) After the service obligation has started, the exhibitor's right is a reduction of the claim for compensation pursuant to section 53 (2) of the AuslWBG (AuslWBG), unless the exhibitor has retained his services in accordance with Section 5 (4).(2) In order to exclude subsequent reductions, the person entitled to compensation shall have a one-off redemption amount equal to two out of the hundred of the capital amount of the claim for compensation, including the one according to the rule of law. Capital to pay interest rates. The amount of the redemption shall be due at the beginning of the service obligation; the issuer may retain it in the case of payments which it makes to the compensation claim.(3) In so far as the amount of redemption amounts to which the exhibitor is awarded in accordance with paragraph 2 is not sufficient to compensate for a right of reduction excluded by paragraph 1, the exhibitor may receive compensation from the other issuers of foreign bonds up to the level of the amount of the redemption amounts to which they are entitled. The obligation of an exhibitor to be compensated shall be determined on the basis of the ratio of the redemption amounts to which it is entitled to the total amount of the redemption amounts due to all exhibitors, in the case of redemption amounts which are to be paid to the Compensation for the right of reduction in accordance with paragraph 1 to be taken into account shall not be taken into account.(4) The Federal Government may, by means of a decree law which does not require the consent of the Federal Council, specify the compensation procedure among the exhibitors in more detail, in so far as this is in order to facilitate the determination as to the amount of compensation claims. , it may, for this purpose, require the exhibitors to provide information on the amounts of the redemption which are due to them. Non-official table of contents

§ 7 Admission of foreign bonds on the night

After the beginning of the service obligation, the recognition of a foreign bond shall be determined by the recognition of a 51 AuslWBG subsequently registered foreign bonds, for which a notice of determination has been issued, the assertion of the compensation claim from the determination of the arrest is not excluded. This shall not apply in so far as the exhibitor has retained his services in accordance with Section 5 (5). Non-official table of contents

§ 8 Payments to the conversion fund

(1) The exhibitor is under the section I of Annex V of the debt agreement on the basis of the above-mentioned conditions relating to benefits in respect of the claim for compensation irrespective of the payments made to the conversion fund for German foreign debt on foreign bonds of the kind referred to in the notice of determination (Conversion Fund).(2) In so far as obligations of the exhibitor in respect of the compensation claim are based on the fact that payments to the conversion fund in accordance with paragraph 1 are not taken into account, the exhibitor has a right to reimbursement of the costs of the Payments which it makes to meet these obligations.(3) The refund referred to in paragraph 2 shall take place as soon as the debtor has in each case provided an interest or redemption performance, but not before the date on which the issuer is obliged to perform the performance under this Act. § § 34, 36 para. 2, § 37 para. 2, § § 38, 40 to 47 of the Implementing Act to the debt agreement apply analogously.(4) Insofar as payments to the conversion fund remain unaccounted for in accordance with paragraph 1, the claims arising from the payments and the credits based on this shall be applied to the federal government by the conversion fund upon the entry into force of this law. Non-official table of contents

§ 9 Securitisation of compensation claims

(1) The exhibitors of the types of products listed in the adjacent directory are: Foreign bonds shall, immediately after the beginning of the service obligation, give the compensation entitled to the holders of the benefits to which they are entitled to issue bonds. This does not apply to services that are due in accordance with § 5 paragraph 2 at the beginning of the service obligation. In the case of the types of foreign bonds referred to in points 1 to 11 in the adjacent list, the first sentence shall not apply to benefits which are eligible for compensation pursuant to Article 4 (2), (3) for claims arising before the 15. It was due to be due to interest rates due March 1945. To the extent that the exhibitor is obliged to issue debt securities, his obligation to cash benefits shall not be required in accordance with § 3.(2) The debt securities referred to in paragraph 1 shall be suitable for trading on the German stock exchanges. The period of publication (Section 801 (1) of the Civil Code) can be reduced to ten years.3. The debt securities referred to in paragraph 1 shall be subject to the appropriate application of the conditions applicable to the exchange items by means of redemption or draw; the duties of the trustees and payment agents shall be carried out at the repayment service; Exhibitor itself true. Draw-outs are published in the Federal Gazette (Bundesanzeiger). Non-official table of contents

§ 10 Registration of compensation claims in the school books

(1) Compensation claims against the federal government shall be entered in the Bundesschuldbuch in the form of debtor claims if the regulatory offer provides for the issuing of exchange pieces and if no debt securities are to be issued in accordance with Section 9 (1). Debentures against cancellation of the receivings will not be handed out. In addition, the Bundesschuldenabsengesetz (Bundesschuldenabsengesetz)(2) It may be determined by national law that claims for compensation directed against a country are to be entered in the Landesschuldbuch under the conditions set out in the first sentence of paragraph 1 as debtor claims. name="BJNR001770960BJNG000300306 " />

Third Section
Compensation Claims for Tilting Item

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§ 11 Content of the claim for compensation

(1) The provisions of this law on compensation claims arising from the provision of orders for compensation, with the exception of § 4 (3), § 5 (1) and § § 6, 8, 9, are based on compensation claims for redeeming items shall apply mutatis mutuelly if, within five years from the date of entry into force of the law, the person entitled to compensation shall agree to the provisions of the law or the provision of the rules. The consent must be declared to the exhibitor in writing; it cannot be carried out under a condition or a time determination. The exhibitor's obligation to pay begins two months after the consent of the person entitled to compensation, but at the earliest two months after the delivery of the rule-of-law.(2) If the person entitled to compensation does not agree to the scheme referred to in the first sentence of paragraph 1, he may require the issuer to make the cash benefits which he/she is entitled to receive in the event of recognition of the foreign bond resulting from the compensation claim, without the acceptance of the Regulation offer would be granted. The provisions of this law, with the exception of section 18 (2) and (4), do not apply to the claim for compensation in this case; § 54 para. 1, 2 AuslWBG remains unaffected. Before the date on which all obligations arising out of the debt agreement and its annexes are completed, the issuer must not effect payment on the compensation claim; § 12 para. 2 and 4 of the Implementing Act to the debt agreement shall apply sensual.(3) In the case of third parties directly liable as debtors for foreign bonds, the provisions of paragraph 2 applicable to the exhibitor shall apply mutadenly to the provisions of paragraph 2. Non-tampering table of contents

§ 12 Maturity of compensation claims

The exhibitor in his/her rule offer on barabsolution , it may, within two months of the entry into force of this Act, or after submission of the Regulation, the final maturity of the claims for compensation by written declaration to the person entitled to compensation , to the extent permitted by the debt agreement and its annexes to the type of foreign bond to which the redemption items belong; for the types of foreign bonds covered by Annex II to the debt agreement, a later Final maturity as the 31. It was not determined in December 1967. If the issuer makes use of this power, it shall be obliged to pay the cash benefits arising from the debt agreement and its investments for obligations arising from the type of foreign bonds to which the redemption items belong. Non-official table of contents

§ 13 Exhibitors ' right of reduction by service

The exhibitor may be entitled to the right of reduction (§ 54 para. 2 sentence 1 in connection with the Article 53 (2) of the German Civil Code (AuslWBG) also claims if he has already done so on the compensation claims for redeeming items; the recipient of the service shall be liable in accordance with Section 820 of the Civil Code. If, prior to the assertion of the right of reduction, the compensation claim has been granted and the compensation has been made to the new authorized person, the compensation entitled for the amounts, referred to in § 54 AuslWBG, shall be liable in addition to the new person entitled to compensation. to the repayment of which the recipient of the benefit under sentence 1 is obliged. Non-official table of contents

§ 14 Securitisation of compensation claims

(1) The issuer has the right to compensation for redeeming items In order to require the holder to issue debt securities, he may make the securitisation subject to the fact that the person entitled to compensation is responsible for the case of reductions.(2) The debt securities referred to in paragraph 1 shall not be subject to any reduction. Your issue is not subject to a permit pursuant to Section 795 of the Civil Code, and its acquisition is not subject to the securities tax. The period of publication (Section 801 (1) of the Civil Code) can be reduced to ten years. § 9 (3) shall apply mutatily for the redemption of the debt securities.(3) The costs incurred by the issuer through the issuance and issue of the debt securities shall be borne by the person entitled to compensation and shall be pre-shot. Non-official table of contents

§ 15 Court of Jurisdiction

(1) The District Court of Berlin is not responsible for claims for compensation claims for redeeming items Consideration of the value of the dispute shall be exclusively responsible.(2) Paragraph 1 shall apply mutatically to actions for the determination of the existence or non-existence of compensation claims for tilts.

Fourth Section
Miscellaneous provisions

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§ 16 Third Party Liability

On third parties who are directly liable as debtors for the claims arising from foreign bonds, and on persons, The provisions of this law applicable to exhibitors shall apply mutamutlily to the provisions of this law applicable to exhibitors in a regulatory offer on services. Non-official table of contents

§ 17 Replacement customers and other replacement services

(1) The exhibitor is not entitled to benefits for the compensation claim. if the person entitled to compensation for his or her foreign bond has received a certificate of replacement or another replacement at the expense of the exhibitor. This shall not apply if the person entitled to compensation rebates the benefit received as a substitute for his foreign bond to the exhibitor.(2) The exhibitor may require that the person entitled to compensation be obliged in writing to assert claims for replacement customers or other substitute services for his or her foreign bond only against the return of the compensation benefits. Unofficial table of contents

§ 18 Tax and accounting rules

(1) (2) For the main determination of the unit values of industrial enterprises, the 21. June 1948-in Berlin (West) to the 1st April 1949-the compensation claims are not to be applied at any higher value than the foreign bonds from which the compensation claims stem. The same applies in the case of value propositions and post-determination to the 1. January 1950, 1. January 1951 and 1. January 1952.(3) obligations arising out of compensation claims shall be deemed to be a value obligation within the meaning of Section 99 of the Implementing Act to the Debt Agreement. In this case, the first sentence of paragraph 1 of this provision shall replace the 30. December 1955, 30. December of the year following the proclamation of this law.(4) In the conversion account of financial institutions and in the old bank account of Berlin Altbanken, the obligations arising out of compensation claims should be treated in the way that the liabilities from the foreign bonds would be treated, from which the Stir up compensation claims. Non-official table of contents

§ 19 Compensation claims in accordance with § 52 AuslWBG

On the compensation claims referred to in § 52 AuslWBG for power-free Foreign bonds are to be applied in accordance with § § 8, 16, 18; in § 18 (3) sentence 2, the position of the 30 is replaced by the following. December of the year following the proclamation of this law of the 30. December of the year in which the Chamber of Securities Reunification has legally established the conditions for the right of compensation pursuant to Section 52 (2) of the AuslWBG (German Securities Act). Non-official table of contents

§ 20 Regulations for foreign bonds issued in the Netherlands

(1) The German AuslWBG (AuslWBG), which is referred to in § 21 (1) sentence 2 The deadline for registrations with the foreign agent is for the types of foreign bonds, as their country of order in the list of foreign bonds (annex to § 1 para. 1 AuslWBG, supplemented by § 1 of the First Implementing Regulation to the eviction law of the 21. February 1953-Bundesgesetzbl. 31-and by § 1 of the Ninth Implementing Regulation on the Cleanup Act of 16. August 1954-Bundesgesetzbl. 267), the Netherlands has been extended until the end of one month after the entry into force of this Act.(2) The extension of the period referred to in paragraph 1 shall also apply to applications filed with the examination office if the recognition of a foreign bond is claimed (Section 37 (1) (1) of the AuslWBG), but not if a notice of determination is claimed (Section 37 (1) no. 2). (3) If the recognition of a foreign bond of the kind referred to in paragraph 1 has been rejected before the entry into force of this Act by a decision which is no longer countervailable on the grounds of failure to meet the deadline, the application may be filed until the date of expiry of the period in which the application is made. paragraphs 1, 2 shall be repeated.(4) (5) The exhibitor's obligation to pay compensation to compensation entitled shall start at the earliest two months after the expiry of the registration period.

Fifth Section
Final Provisions

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§ 21 Land Berlin

This Act applies in accordance with Section 13 (1) of the Third Transfer Act of 4. January 1952 (Bundesgesetzbl. I p. 1) also in the Land of Berlin. Legal orders issued pursuant to this Act shall apply in the Land of Berlin pursuant to Section 14 of the Third Transfer Act. Non-official table of contents

§ 22 Entry into force

This law enters into force on the first day of the second month after it is announced. Non-official table of contents

Asset (§ 9 para. 1)
Directory according to § 9 para. 1

(Fundstelle: BGBl. Part III 4139-3, p. 148)

Lfd. Nr.o. foreign bondart currency listed in the directory *) of the foreign bonds under
1Belgian edition of the Dawes bond PoundPart Alfd. No. 1a)
2 Dutch edition of the Dawes bondPoundPart Alfd. No. 1b)
3French edition of Dawes bondPoundsPart A lfd. No. 1c)
4Swiss edition of the Dawes bond PoundPart Alfd. No. 1f)
5 Swiss edition of the Dawes bondsfrs.Part Alfd. No. 1g)
6British edition of Dawes bondPoundsPart A lfd. No. 1h)
7American edition of the Dawes bond $Part Alfd. N ° 1i)
8Dutch Young bond issuehfl.Part Alfd. No. 3b)
9Deutsche Issue of Young BondRMPart A lfd. No. 3f)
10Swiss edition of the Young's Bondsfrs. Part Alfd. No. 3g)
11American edition of the Young Bond $Part Alfd. No. 3i)
12 6 1/2% Prussian Exterior Bond$Part Alfd. No. 4
136% Prussian Exterior Bond$Part A lfd. No. 5
144% debt securities of the conversion fund of 1.7.1935-Series I A sfrs.Part Blfd. No. 4a)
15 4% debt securities of the conversion fund of the 1.7.1935-series I Bsfrs.Part Blfd. N ° 4b)
163% debt securities of the conversion fund of 1.7.1936 -Old edition$ Part Blfd. N ° 11
173% debt securities of the Conversion Fund from 1.6.1937 -New Issue$Part Blfd. No. 12
186% partial debt securities of the Badische Landeselektrizity-versorgung Aktiengesellschaft from 1928sfrs. Part C IIlfd. No. 3
196% partial debentures The Badische Landeselektrizity-versorgung Aktiengesellschaft of 1930sfrs.Part C IIlfd. No. 4
206% Obligations of Schluchseewerk Aktiengesellschaft from 1929sfrs. Part C IIlfd. No. 25
217% Sterling Bonds of the German Kalisyndikat GmbH from 1925PoundPart C IIIlfd. No. 8
227% Sterling Bonds of the German Kalisyndikat GmbH from 1926PoundPart C III lfd. No. 9
236 1/2% Serial Gold Bonds of the Free State of Bavaria from 1925 -Series 20 $Part C IVlfd. No. 5
24 6 1/2% Gold Bonds of the Free State of Bavaria from 1925$Part C IVlfd. No. 6
257% Gold Bonds of the German Sparkassen-und Giroverband of 1926$ Part C IVlfd. No. 24
266% Gold Bonds of the German Savings Banks-and Giroverbandes from 1928$Part C IVlfd. No. 25
277% Gold Bonds of the Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft of 1925$ Part C IVlfd. No. 65
286% Gold Bonds of the Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft of 1927$Part C IVlfd. N ° 66
296% Gold Bonds of the Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft of 1928$ Part C IVlfd. No. 67
306% Gold Bonds of the Rheinisch-Westfälisches Elektrizitätswerk Stock Company of 1930$Part C IVlfd. No. 68