Law relating to the Second Convention of 16 August 1960 between the Federal Republic of Germany and the United States of America on certain matters arising from the purging of German dollar bonds

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DollBBerAbk2G

Date of completion: 26.04.1961

Full quote:

" Act to the Second Convention of 16 August 1960 between the Federal Republic of Germany and the United States of America on certain matters arising out of the purging of German dollar bonds in the Federal Law Gazans Part III, Division number 4139-4, published in the published version "

Footnote

(+ + + Text proof applicable: 1.1.1964 + + +) Unofficial table of contents

Article 1 Assent to the Agreement

The Second Agreement between the Federal Republic of Germany and the United States of America, signed in Bonn on 16 August 1960, on certain matters arising from the cleansing of German dollar bonds, is agreed. The Agreement shall be published below. Unofficial table of contents

Art 2 Implementing provisions to the Agreement

(1) In the case of dollar bonds listed in the list of Article I (1) of the Agreement, the provisions of the Thirteenth Implementing Regulation to the Cleanup Act for German Foreign Bonds (Final Administrative Tax) of 10 November apply. 1959 (Bundesgesetzbl. 682) provided that the administrative levy on the evicting procedure to be paid by the exhibitors in accordance with Article 1 of this Regulation amounts to four of the hundred of the amount of the tax; for dollar bonds, which are listed in the list under point 1 , the administrative levy shall be payable by the guarantors. (2) For dollar bonds listed in the list referred to in paragraph 1, the provisions of the International Bonuses Compensation Act of 10 March 1960 shall apply. (Bundesgesetzbl. 177) on the understanding that the obligation to provide compensation to persons entitled to compensation (Article 5 (1) of the International Bonds Compensation Act) two months after the date of expiry of the registration period, but not at the earliest two months after the date of submission of the rules of the Garanten begins. Unofficial table of contents

Art 3 bankruptcy legislation

(1) Over the assets of legal persons within the scope of this Act, which have had their registered office in the German Reich on 8 May 1945 within its borders of 31 December 1937 and which are neither within the scope of this Act a commercial establishment still has a general place of jurisdiction, a bankruptcy procedure takes place even if the conditions of § 238 para. 2 of the bankruptcy order are not fulfilled. The court is solely responsible for the proceedings, in the district of which the property is located. (2) Regulations which exclude the use of the debtor on account of his liabilities until further notice shall remain unaffected. (3) The Costs of the cleanup, which are from the issuers of foreign bonds according to § § 63, 64 of the German Bonds Act of August 25, 1952 (Bundesgesetzbl. 553) shall apply in the event of the opening of bankruptcy via the assets of the exhibitors as mass costs within the meaning of Section 58 (2) of the Conkursordnung. Unofficial table of contents

Art 4 Adoration of fixed-order modestals

(1) Foreign bonds, for which a notice of determination is claimed in accordance with § § 4, 37 of the German Bonds Act for German Foreign Bonds, may be filed retrospectionally if the failure of the application deadlines (Section 37 (2) in conjunction with § 21) (1) of the German Overseas Bonds (eviction Act) is not based on its own gross negligence on the part of the signon. If an earlier application has been rejected for failure to meet the deadline, the application may be repeated under the condition set out in the first sentence. (2) Claims for compensation in the case of a notice of detention, which are based on a subsequent application after the application has been made. Paragraph 1 shall not be invoked, insofar as this would result in an impairment of the compensation claims in accordance with § § 52 to 54 of the Cleanup Act for German foreign bonds. They are excluded in so far as their consideration would entitle the exhibitor pursuant to § 53 (2) or § 54 (2) of the Cleanup Act for German foreign bonds to a reduction; a exclusion of the right of reduction according to § 6 para. 1 of the In respect of the claims for compensation referred to in paragraph 2, the provisions of the International Bonds Compensation Act shall apply to compensation claims arising out of notice of arrest on the basis of a notice of notice of compensation. Exception of § § 6, 9 and with the proviso that the obligation of the exhibitor to benefit at the earliest two months after the legal force of the date of the arrest begins; § 13 of the International Bonds Compensation Act applies accordingly. Unofficial table of contents

Species 5

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Art 6 Rules relating to debt securities denominated in German currency

(1) In the case of debt securities issued in German currency by the exhibitors referred to in the list of Article I (1) of the Agreement before 9 May 1945, the provisions of Section 27 of the Third Law to amend and supplement the Securities Purification Act of 16 November 1956 (Bundesgesetzbl. 850) shall apply in accordance with the following measures in accordance with the provisions of the securities settlement laws:

1.

Insofar as the date of its entry into force is decisive in accordance with these laws, the date of entry into force of this Act shall be replaced by the date of entry into force.

2.

Debt securities for which no delivery certificates are issued shall be deemed to be force-free within the scope of this Act. Delivery certificates shall no longer be issued from the date of publication of the final declaration by the Chamber of Securities Resettlement.

3.

The guarantors referred to in the list shall be considered to be exhibitors for the cleaning up of debt securities issued by the issuer referred to in the list under paragraph 1.

4.

A credit institution may be designated as the test body within the scope of this Act.

5.

Responsibilities that depend on the seat of the issuer under the Securities Cleansing Act shall be determined by the seat of the Examination Office.

6.

The debentures are deemed to be due for the evicting process as due within the meaning of Section 1 of the Second Law amending and supplementing the Securities Reunification Act; § § 11, 12, 13, 19 of the Second Law amending and supplementing the law Securities settlement law shall not apply.

(2) The provisions of the Third Law amending and supplementing the securities settlement act shall also apply to debentures issued by the issuer referred to in the list under point 1 above (3) The Federal Government may, by means of a regulation which does not require the consent of the Federal Council, the provisions of this Article on debt securities issued in German currency before 9 May 1945 by other legal persons , which was established in the German Reich on 8 May 1945 within the German Reich. Borders of December 31, 1937, and for whose bonds the conditions for a clean up have not been fulfilled. A regulation pursuant to the first sentence of the first sentence may be adopted only if the value of the assets held by the issuer is determined within the scope of this Act, the scope of which makes it necessary to provide evicting measures, or if the measures to be adjusted are , for other reasons, are economically viable. The legal regulation must stipulate that the date of entry into force of this Act shall be replaced by the date of entry into force of the Regulation referred to in paragraph 1 (1). Unofficial table of contents

Art 7 Land Berlin

This law shall also apply in the Land of Berlin, provided that the Land Berlin determines the application of this law. Legal orders issued pursuant to this Act shall apply in the Land of Berlin pursuant to Section 14 of the Third Transfer Act of 4 January 1952 (Bundesgesetzbl. I p. 1). Unofficial table of contents

Type 8 Entry into force

(2) Articles 2 and 5 shall enter into force on the same day on which the Agreement enters into force. (3) Article 4 shall enter into force in so far as it provides for the subsequent issue of: Determination of the number of foreign bonds issued in the list of foreign bonds (Annex to Section 1 (1) of the German Overseas Bonds Act, supplemented by § 1 of the First Implementing Regulation) Eviction Act of 21 February 1953-Bundesgesetzbl. 31) the United States of America is indicated, at the date referred to in paragraph 2, and in force at the date referred to in paragraph 1. (4)