Third Implementing Regulation To The Clean-Up Act For German Foreign Bonds (United Kingdom Of Great Britain And Northern Ireland)

Original Language Title: Dritte Durchführungsverordnung zum Bereinigungsgesetz für deutsche Auslandsbonds (Vereinigtes Königreich von Großbritannien und Nordirland)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: http://www.gesetze-im-internet.de/auslwbgdv_3/BJNR513400953.html

Third implementing regulation to the clean-up act for German foreign bonds (United Kingdom of Great Britain and Northern Ireland) AuslWBGDV 3 copy date: 10.07.1953 full quotation: "Third implementing regulation to the clean-up act for German foreign bonds (United Kingdom of Great Britain and Northern Ireland) in the adjusted version published in the Federal Law Gazette Part III, outline number 4139-2-3," footnote (+++ text detection from validity: 1.1.1964 +++) heading: 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 § 23 para 5, § 24 para 4, § 35 par. 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 supporting documents (section 5 of the Act), as far as the United Kingdom of Great Britain and Northern Ireland as the issuing country is specified (in the following "Sterling bonds" called).
(2) for the purposes of this regulation, the expression "the foreign representative" means the for the United Kingdom according to section 8, paragraph 1, of the law of ordered foreign agents, as well as a permanent representative appointed for him according to § 8 section 7 of the Act.
Footnote § 1 para 1 italic: Nonrepresentational authorization section 2 deposit the bonds a deposit of Sterling bonds according to § 23 paragraph 2 of the Act is allowed in the United Kingdom of Great Britain and Northern Ireland only when the paying agents responsible for the bond.

Section 3 were submitted to evidence (1) the certificate of an authorized depositary institution (paragraph 2), that pending Sterling bond according to § 15 para 2 of the Exchange Control Act, 1947, her or she will be required and that the requirements of section 16 para 1 of the Act when the bond prior to the time in which the foreign agents indicates the start of the cleanup procedure in London that is, as far as is not otherwise specified in the certificate, proven, that bond is a foreign piece in the sense of § 3 par. 2 of the law and justified a claim to recognition of the bonds.
(2) authorized custodians within the meaning of paragraph 1 are the persons who are entitled under the Exchange Control Act, 1947, to act as such.

§ Decisions of the foreign agent ablehnender 4 statutory arbitration (1) for the review establishes a Court of arbitration according to section 35 of the Act for the United Kingdom of Great Britain and Northern Ireland. The Court of arbitration has its headquarters in London.
(2) the arbitral tribunal shall consist of three arbitrators, namely, a Chairman and two assessors. The Chairman and an associate members must be members of the English law stands (barristers or solicitors) with at least three years of professional practice.
(3) the arbitrator shall be appointed by the Federal Minister of finance. Section 77 of the Act shall apply mutatis mutandis to the nomination. The appointment will be published in the Federal Gazette.
(4) the Federal Minister of finance may revoke the appointment of an arbitrator, when this grossly violated his official duties. section 77 of the Act shall apply mutatis mutandis. Paragraph 3 (5) which is to submit the foreign representative in writing request for arbitration shall apply for the appointment of a successor. Five copies of the application shall be attached. The foreign agent delivers the exhibitors as well as the Trustees and the payment agent with the prompt a copy of the testing laboratory, him to submit their possible observations within two months after the delivery. The foreign agents can prolong this period on request, but not more than three months. After expiry of the period of foreign agents communicated the request the Arbitration Court together with the delivery documents, the comments received about, its own opinion and its documents.
(6) the Tribunal may charge evidence if it considers this necessary.
(7) the Tribunal makes its 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.
(8) the Tribunal makes its decision the foreign agent and the applicant. The foreign agent notifies the testing laboratory, the issuer and the trustee and paying agents of the decision.
(9) in the other, the arbitration discretion determined his procedure.

Deliveries can section 5 deliveries under the Act or under this regulation in the United Kingdom of Great Britain and Northern Ireland be effected by registered letter against acknowledgement of receipt in accordance with section 70, paragraph 2, of the law.

§ 6 State of 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 applies this legal regulation also in the Federal State of Berlin.

Article 7 entry into force this regulation enters into force on the day after its promulgation.