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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Read the untranslated law here: http://www.gesetze-im-internet.de/auslwbgdv_2/BJNR505000953.html

Second implementing regulation to the clean-up act for German foreign bonds (United States of America) AuslWBGDV 2 copy date: 07.03.1953 full quotation: "Second implementing regulation to the clean-up act for German foreign bonds (United States of America) in the adjusted version published in the Federal Law Gazette Part III, outline number 4139-2-2," footnote (+++ text detection from validity: 1.1.1964 +++) this provision shall not apply in the area referred to in article 3 of the Unification Treaty gem. appendices I Cape. IV Sachg. A section I no. 9 EinigVtr v. 31.8.1990 in conjunction with art. 1 G v. 23.9.1990 II 885, 964 input formula on the basis of article 8, paragraph 6, § 9 par. 5, § 23 para 5, section 24, paragraph 4, article 35, paragraph 2, and of section 76 of the clean-up act for German foreign bonds from August 25, 1952 (Bundesgesetzbl. I S. 553) the Federal Government enacted: § 1 scope and definitions (1) this regulation extends itself on all kind of securities of the listed in the directory of foreign bonds (§ 1 para 1 of the Act) or recorded in a supplement (article 1 para 2 of the law) in the Directory including the interest - to be issued, dividend and renewal - ration and other supporting documents (section 5 of the Act), as far as the United States of America would be issue are specified (in the following "dollar bonds" called).
(2) for the purposes of this regulation, the expression "the foreign representative" means the for the foreign representative pursuant to § 8 (1) of the act ordered United States of America, as well as the permanent representatives of the foreign agent, ordered according to § 8 section 7 of the Act.
Footnote § 1 para 1 italic: Nonrepresentational authorization section 2 deposit the bonds (§ 23 para 2 to 5 of the Act) (1) a deposit of dollar bonds to § 23 para 2 to 5 of the Act is allowed in the United States of America subject to paragraph 2 only at the bank designated by the Federal Minister for finance (General depository). As General depository, the Federal Minister of finance determines a Bank, which is founded on the basis of the laws of the United States of America or any of its States, has its headquarters in the city of New York in the State of New York, and whose capital including reserves amounts to at least $100 million. The Federal Minister of finance can pick up the determination of the common depositary at its discretion and as General depository determine another bank, which complies with the conditions of the set of 2.
(2) the Federal Minister of finance to determine the payment agent as depository for certain types of dollar bonds in place of the common depositary (Special depositories).
(3) the General depository and any special depositories are to be published in the Federal Gazette as well as in the manner designated by the Government of the United States.

§ 3 cleanup site (§ 9 par. 5 of the Act) (1) the duties of the foreign agent except that resulting from § 18 para 1, 2, § 33 para 2, § 63 para 5 of the Act, are to § 9 par. 5 of the Act, hereby the transferred by the agreement between the Federal Government and the Government of the United States of America of 27 February 1953 a cleanup site for German bonds in the United States (hereafter referred to as "Cleansing agent"). The cleanup body may Commission one of its members with specific tasks.
(2) § 9 para 3 of the Act for the procedure before the cleanup site shall apply mutatis mutandis unless this regulation states otherwise.

Article 4 content of the application and evidence (articles 22, 24 of the law) (1) for the application you want to use the form which will be available from the cleanup spot.
(2) the applicant shall deposit with the pending dollar bond all coupons available to him. When he highlighted also the last of the coupons that had become due before January 1, 1940, so he needs at the time of registration to provide no further evidence.
(3) can the applicant set 2 mentioned coupon no deposit the in paragraph 2, so he should enclose documents registration, which are likely to prove that the pending bond has been on January 1, 1945, outside the areas referred to in section 3 subsection 2 sentence 1 of the Act. In this respect, he should observe the following: 1 the applicant the bond prior to January 1, 1945 acquired, so he will teach issued certificate one from a Bank, a stockbroker or a securities dealer, from the results, that the applicant has acquired the bond by the Bank, the broker or the dealer or its legal predecessor or by whose mediation prior to January 1, 1945 or that of the bond at the Bank , was the broker or dealer or their predecessors before or on 1 January 1945 for the applicant in custody.
2. can the applicant does not teach the certificate referred to in paragraph 1 or he has acquired the bond after January 1, 1945, so he will teach those documents (including documents declarations of by third parties), the he regards as a the best him available evidence.
(4) are the applicant neither which referred to in paragraph 2 sentence 2 coupon nor certificates available referred to in paragraph 3, as he imagines an own affidavit with the following details: 1. date of acquisition of the bonds by the applicant, 2. type of this acquisition (purchase, inheritance, donation), 3. name and address of the person from whom he acquired the bond , or the broker or other intermediary through which this acquisition, is 4th place, at which the bond has been on January 1, 1945, and name and address of the person who had it at that time in custody, and, if the applicant has acquired after 1 January 1945 the bond, 5. names and addresses of all persons who have had since January 1, 1945 in ownership or custody of the bond , and the places where he has been since that time.
(5) the powers of the clean-up spot to make investigations and to require more evidence (§ 24 para 3 of the Act), the applicant is not affected by the provisions of paragraphs 2 to 4.
(6) if the applicant of the provisions of paragraphs 2 to 5 complies with the rules and for the cleanup spot no reason yielded to doubt the information provided by the applicant in its application, the registered foreign bond is so to recognize.

Section 5 procedure after registration (section 24 para 2, 3, section 27, paragraph 2, of the Act) (1) after receipt of the application, the Cleanup job meets those actions that are prescribed by section 24 para 2 of the law.
(2) makes the cleanup of the powers referred to in section 24, paragraph 3, sentence 2 or sentence 3 of the law use, so has to ask the applicant to submit the evidence or information within three months after receipt of the request. It has to extend this period or to grant a further period if the applicant sufficient reasons therefore.
(3) once the cleanup place considered the documents to be sufficiently complete, it should decide on the recognition; in any case she should adopt the decision within six months after the registration, unless special circumstances of the case to oppose a decision within this period.
(4) in any case, the recognition may be refused without having previously the Cleanup job has informed the applicant of the facts conflicting with a recognition of the and evidence and gave him opportunity to comment. Paragraph 2 shall mutatis mutandis.
(5) if the cleanup spot arranges the return or release of a recognized dollar bonds (§ 27 para 2 sentence 2 of the law), so she led that one is pinned the bond in engraving or otherwise tamper made certificate, unless the applicant prior to this arrangement require the conversion of the bonds against a new bond and that the new bond at the time is the order to the delivery to the applicant at the disposal.

§ Decisions the cleanup spot ablehnender 6 statutory arbitration (section 35 of the Act) (1) for the review establishes a Tribunal for each of the twelve Federal Reserve districts in the United States of America.
(2) each this arbitration is responsible for applications for those applicants who have a residence or a place of business in his district. The Court of arbitration for the Federal Reserve District of San Francisco is also for applications of the applicant responsible, who have a domicile or an establishment in the Pacific territories or possessions of the United States, and the Court of arbitration for the Federal Reserve District of New York for requests of the applicant, the no residence and no branch in one of the Federal Reserve districts or have in the Pacific territories or possessions.
(3) each this arbitration consists of three arbitrators, namely, a Chairman and two assessors. One of the assessors must have the permission to exercise the legal profession in the relevant district or any part of this district. A referee can belong to multiple arbitration subject to the set 2.

(4) arbitrators are appointed by the Federal Minister of finance, if arises a need for it or the Government of the United States is looking for. On the appointment of corresponding to § 77 para 1 sentence 1 of the Act applies. The appointment will be published in the Federal Gazette as well as in the manner designated by the Government of the United States.
(5) the Minister of finance may revoke the appointment of an arbitrator, when this grossly violated his official duties. § 77 para 1 sentence 1 of the Act finds appropriate application. Apply for the appointment of a successor paragraph 4 (6) of the Federal Minister of finance is authorized to meet contractual agreements whose remuneration with the referee. The remuneration calculated basically according to number and size of the cases adult at the relevant arbitration.
(7) the arbitration charge no fees or expenses of the parties involved.
(8) the request for arbitration is submitted at the cleanup site. Five copies of the application shall be attached. The cleanup spot delivers the exhibitors, the Trustees and the paying agents with the prompt a copy of the inspection body, to submit any opinion with her within two months after the delivery. The Cleanup job can prolong this period at the request, but not more than three months. After the deadline, the cleanup spot communicated the request the competent Arbitration Court together with the delivery documents, the comments received about, its own opinion and their documents.
(9) the arbitration may collect evidence if they consider this necessary.
(10) the arbitrators make decisions by decision of two assessors, if they agree. They are divided, so they have to present the thing the Chairman, whose ruling represents the decision of the arbitral tribunal in this case.
(11) the arbitrators deliver their decision the cleanup spot and the applicant. The cleanup site notifies the testing laboratory, the issuer and the trustee and paying agents of the decision.
(12) in the other, arbitration courts discretion determine their procedures.

§ 7 deliveries on the basis of this regulation be made by registered letter against acknowledgement of receipt notifications (article 70 of the Act) (1).
(2) the other deliveries in the United States on the basis of the Act be carried out in the same way.

§ 8 supporting documents (§ 5 ABS. 1 of the Act) recognition a dollar bond covers interest issued to, dividend, renewal and ration as well as other supporting documents of same track number, even if these supporting documents are not presented.

9 section Bundesland Berlin according to section 14 of the Act on the position of the State of Berlin in the financial system of the Federation (third reconciliation law) of January 4, 1952 (Bundesgesetzbl. I p. 1) in conjunction with section 78 of the Act, this regulation also in the Federal State of Berlin shall apply.

Article 10 entry into force this regulation enters into force on the day after its promulgation.