Second Implementing Regulation To The Clean-Up Act For German Foreign Bonds (United States Of America)

Original Language Title: Zweite Durchführungsverordnung zum Bereinigungsgesetz für deutsche Auslandsbonds (Vereinigte Staaten von Amerika)

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Second Implementing Regulation to the Cleanup Act for German Foreign Bonds (United States of America)

Unofficial table of contents


Date of expend: 07.03.1953

Full quote:

"Second Implementing Regulation to the Purge Act for German Foreign Bonds (United States of America) in the adjusted version published in the Federal Law Gazans Part III, Outline No. 4139-2-2"


(+ + + Text evidence valid from: 1.1.1964 + + +)

This provision does not apply to the territory referred to in Article 3 of the agreement. L. I chap. IV Sachg. A Sect. I N ° 9 EinigVtr v. 31.8.1990 iVm Art. 1 G v. 23.9.1990 II 885, 964 unofficial table of contents

introductory formula

On the basis of § 8 (6), § 9 (5), § 23 (5), § 24 (4), § 35 Paragraph 2 and Section 76 of the German Bonds Act for German Foreign Bonds of 25. August 1952 (Bundesgesetzbl. I p. 553) decrees the Federal Government: Non-official table of contents

§ 1 Scope and definitions

(1) This Regulation extends all securities of the type listed in the list of foreign bonds (Section 1 (1) of the Law) or included in the list (Section 1 (2) of the Law), including the interest, share of interest, Renewal and reference certificates and other side-certificates (§ 5 of the Act), provided that the United States of America is designated as a country of origin (hereinafter referred to as "Dollarbonds"). (2) For the purposes of this Regulation, the term "the term" shall mean the term " the Foreign authorised representative " the Permanent Representative of the International Representative appointed for the United States of America pursuant to Section 8 (1) of the Law and the permanent representative of the International Plenipotentiary appointed pursuant to Section 8 (7) of the Law.


§ 1 Para. 1 Italic: Non-binding empowerment Non-official table of contents

§ 2 deposit of bonds
(§ 23 para. 2 to 5 of the law)

(1) In the United States of America, the deposit of dollar bonds in accordance with Section 23 (2) to (5) of the Act is only permitted under the terms of paragraph 2 in the case of the bank designated by the Federal Minister of Finance (General Deposit Office). As a General Deposit Account, the Federal Minister of Finance shall designate a bank based on the laws of the United States of America or of one of its States, its principal place of business in the City of New York in the State of New York , and whose capital, including reserves, is at least $100 million. The Federal Minister of Finance may, at its discretion, discontinue the provision of the General Deposit Office and appoint another Bank, which is in accordance with the conditions laid down in the second sentence, as the General Deposit Authority.(2) The Federal Minister of Finance may designate the payment agents as a deposit for certain types of dollar bonds in place of the General Deposit Authority (Special Deposit Points). (3) The General Deposit Office and any special deposit account shall be published in the Federal Gazette and in the manner referred to by the Government of the United States. Non-official table of contents

§ 3 Purge
(Section 9 (5) of the Act)

(1) The duties of the foreign agent, with the exception of the Pursuant to Section 18 (1), (2), section 33 (2), Section 63 (5) of the Law, the Act herewith is hereby incorporated by the Agreement between the Federal Government and the Government of the United States of America of the 27. The clean-up office for German bonds established in February 1953 in the United States (hereinafter referred to as "the clean-up office") was transferred. The clean-up office may appoint one of its members to perform certain tasks.(2) § 9 (3) of the Law shall apply in the case of the proceedings before the clearing house, unless this Regulation determines otherwise. Non-official table of contents

§ 4 Content of the application and evidence
(§ § 22, 24 of the law)

(1) The application form shall be subject to the form of the application form. , which is provided by the cleanup post.(2) The applicant shall deposit all the interest certificates at his disposal with the dollar bond applied for. If he also has the last of the one before the 1. He/she shall not be required to provide any further evidence at the time of filing of the application.(3) Where the applicant is unable to deposit the interest certificate referred to in the second sentence of paragraph 2, he shall attach to the application documents which are likely to prove that the registered Bond is on the 1. It was found outside the territories referred to in Article 3 (2) sentence 1 of the Act. In this respect, it should note:
If the applicant has the Bond before the 1. It shall provide a certificate issued by a bank, a securities broker or a securities dealer, which provides that the notifier shall obtain the bond from the bank, the broker or the trader or the dealer thereof, or Right-forward or through their mediation before the 1. The bond was acquired by the Bank, the broker or the trader or their legal guerrior before or on 1 January 1945.
If the applicant fails to teach the certificate referred to in paragraph 1, he or she shall have the bond after the first one. (4)
neither referred to the provisions of the second sentence of paragraph 2referred to it as the best evidence available to him in January 1945. If the interest rate is still available in paragraph 3, it shall issue its own affidavit with the following information:
Date of purchase of the Bonds by the applicant,
Art of this acquisition (e.g. purchase, inheritance,
The name and address of the person from which he acquired the Bond, or the broker or other intermediary by which he/she is acquired is,
The place where the Bond is on the 1. The person who had been in custody at that time, and
name and address of the person who had been in custody at that time,
and, if the notifier has the Bond after 1 January 1945, have been given the following: January 1945,
Names and addresses of all persons who have been in the Bond since 1 January 1945. (5) The powers of the eviction authority to investigate and to demand further evidence from the applicant (§ 3
. (2). Article 24 (3) of the Act), shall not be affected by the provisions of paragraphs 2 to 4.(6) If the applicant complies with the provisions of paragraphs 2 to 5 and if the eviction point does not give any reason to doubt the information provided by the applicant in his application, the declared foreign bond shall be recognised. Non-official table of contents

§ 5 Procedure after login
(§ 24 para. 2, 3, § 27 para. 2 of the law)

(1) Upon receipt of the application, the following applies: the eviction point shall be the measures prescribed by section 24 (2) of the law.(2) In order to exercise the eviction of the powers referred to in Article 24 (3) sentence 2 or sentence 3 of the Act, it shall require the notifier to submit the evidence or information within three months of receipt of the request. It shall have to extend this period or to grant a new time limit if the applicant for sufficient reason seeks to do so.(3) As soon as the eviction body considers the documents to be sufficiently complete, it shall decide on the recognition; in any case, it shall adopt the decision within six months of the date of notification, unless special the circumstances of the individual case shall be contrary to a decision within that period.(4) In no case shall the recognition be refused without prior notice to the appellant by the applicant of facts and evidence contrary to recognition and having given him the opportunity to comment on the matter. Paragraph 2 shall apply mutatily.(5) If the eviction body arranges the return or release of a recognised dollar bond (Article 27 (2), second sentence, of the Act), it shall cause the bond to be attached to a certificate produced in steel or otherwise falsified form, unless the applicant has requested the exchange of the bond against a new bond before that order and that the new Bond is available to the applicant at the time of the order for the release. Non-official table of contents

§ 6 Legal arbitration tribunals
(§ 35 of the law)

(1) For the review of negative decisions of the The clean-up office will be set up by an arbitral tribunal for each of the twelve Federal Reserve districts of the United States of America.(2) Each of these arbitral tribunals shall be responsible for applications submitted by applicants who have a residence or establishment in their district. The Court of Arbitration for the Federal Reserve District of San Francisco is also responsible for applications filed by applicants who have a domicile or establishment in the Pacific Territories or possessions of the United States, and the Arbitration Tribunal for the Federal Reserve District of New York for applications filed by applicants who have no domicile or establishment in any of the Federal Reserve counties or in the Pacific Territories or possessions.(3) Each of these arbitral tribunals shall consist of three arbitrators, one presiding judge and two co-sewers. One of the co-sitters must have the right to practize the attorney in the district concerned or in part of that district. An arbitrator may, subject to the second sentence, belong to several arbitral tribunals.(4) The arbitrators shall be appointed by the Federal Minister of Finance, as soon as a need arises or the Government of the United States is seeking to do so. The first sentence of Section 77 (1) of the Act is applicable to the appointment. The nomination shall be published in the Federal Gazette and in the manner referred to by the Government of the United States.(5) The Federal Minister of Finance may revoke the appointment of an arbitrator if he grossly violates his official duties. The first sentence of Section 77 (1) of the Act is applicable. Paragraph 4 shall apply for the appointment of a successor.(6) The Federal Minister of Finance shall have the power to make contractual arrangements with each of the arbitrators on his or her references. In principle, the references shall be based on the number and extent of cases in the arbitral tribunal concerned.(7) The arbitral tribunals shall not charge any fees or deposits from the parties concerned.(8) The application for a arbitration decision must be submitted to the eviction office. The application shall be accompanied by five copies. The eviction body shall each submit a copy of the examination office, the issuer, the trustees and the payment agent, with the invitation to submit their possible opinion to it within two months of the notification. The office of clean-up may extend this period upon request, but not more than three months. After the expiry of the period, the eviction body shall forward the request to the competent arbitral tribunal, together with the evidence of delivery, the comments received, its own opinion and its documents.(9) The arbitral tribunals may collect evidence to the extent that they consider this necessary.(10) The arbitral tribunals shall take their decisions by decision of their two co-sitters, if they agree. If they do not agree, they shall submit the matter to the presiding judge whose decision in this case shall be the decision of the arbitral tribunal.(11) The arbitral tribunals shall submit their decision to the clean-up office and to the applicant. The eviction point notifies the inspection body, the issuer, and the trustees and payment agents of the decision.(12) In addition, the arbitral tribunals shall determine their procedures at their discretion. Non-official table of contents

§ 7 deliveries
(§ 70 of the law)

(1) deliveries made pursuant to this Regulation shall be made by registered Letter against receipt.(2) Other deliveries in the United States under the law shall be carried out in the same manner. Non-official table of contents

§ 8 secondary customers
(§ 5 para. 1 of the law)

The recognition of a dollar bond is extended to the issued interest, share, renewal and reference certificates as well as other side certificates of the same unit number, even if these secondary documents are not submitted. Non-official table of contents

§ 9 Land Berlin

According to § 14 of the law on the status of the Land Berlin in the financial system of the federal government (third party) Transfer Act) of 4. January 1952 (Bundesgesetzbl. I p. 1) in conjunction with Section 78 of the Act, this Regulation shall also apply in the Land of Berlin. Non-official table of contents

§ 10 Entry into force

This Regulation enters into force on the day after it is announced.