Law To The Second Agreement Of August 16, 1960, Between The Federal Republic Of Germany And The United States Of America On Certain Matters Arising From The Cleanup Of German Dollar Bonds

Original Language Title: Gesetz zum Zweiten Abkommen vom 16. August 1960 zwischen der Bundesrepublik Deutschland und den Vereinigten Staaten von Amerika über gewisse Angelegenheiten, die sich aus der Bereinigung deutscher Dollarbonds ergeben

Read the untranslated law here: http://www.gesetze-im-internet.de/dollbberabk2g/BJNR204610961.html

Law to the second agreement dated 16 August 1960, between the Federal Republic of Germany and the United States of America on certain matters, arising DollBBerAbk2G Ausfertigung date from the cleanup of German dollar bonds: 26.04.1961 full quotation: "law to the second agreement of August 16, 1960, between the Federal Republic of Germany and the United States of America on certain matters arising from the cleanup of German dollar bonds in the in the Federal Law Gazette Part III ", Outline number 4139-4, adjusted version" footnote (+++ text detection application from: 1.1.1964 +++) type 1 consent to the agreement is voted the second agreement between the Federal Republic of Germany and the United States of America on certain matters arising from the cleanup of German dollar bonds, signed in Bonn on 16 August 1960. The agreement will be published below.

Type 2 implementing provisions of the agreement (1) for dollar bonds, listed in the directory to article I, paragraph 1 of the Convention apply the provisions of the thirteenth directive to the cleanup law to German foreign bonds (final administrative fee) by November 10, 1959 (Bundesgesetzbl. I p. 682) with the proviso that the administrative fee to be paid by the exhibitors according to section 1 of this regulation for the cleanup procedure is four per cent of the base amount; for dollar bonds, which are listed in the directory under number 1, the administrative fee by the guarantor is payable.
(2) for dollar bonds, which are listed in the directory referred to in paragraph 1 in point 1 apply the compensation law of foreign bonds by March 10, 1960 (Bundesgesetzbl. I p. 177) with the proviso that the performance obligation to entitled to compensation (§ 5 ABS. 1 of the foreign bonds Compensation Act) two months after the end of the registration period, but not before two months after submission of the control offer of the guarantee begins.

Type 3 Konkursrechtliche rules (1) that in the scope of this finds law assets of legal entities, which have had their seat in the German Reich within its borders by December 31, 1937 to May 8, 1945 and which have a commercial establishment nor a general place of jurisdiction within the territorial scope of this Act, bankruptcy proceedings also then held, if the requirements of section 238 para 2 of the Bankruptcy Act are not met. The District Court is exclusively responsible for the procedure, in whose district the property is situated.
(2) provisions which exclude a recourse to the debtor because of its liabilities until further notice, shall remain unaffected.
(3) the cost of the cleanup by the exhibitors of foreign bonds after §§ 63, 64 of the clean-up act for German foreign bonds from August 25, 1952 (Bundesgesetzbl. I S. 553) are to wear, apply in the case of the opening of bankruptcy proceedings against the assets of the exhibitor as mass costs within the meaning of section 58 No. 2 of the Bankruptcy Act.

Type 4 subsequent issuance of statement notices (1) foreign bonds, for which pursuant to §§ 4, 37 of the clean-up act for German foreign bonds a determination letter is claimed, can be registered later, if the non-observance of deadlines (§ 37 para 2 in conjunction with § 21 (1) of the clean-up act for German foreign bonds) is not based on its own gross negligence of to reporting legitimate. An earlier application because time has been rejected, the application under the condition referred to in sentence 1 can be repeated.
(2) compensation claims from assessment notices issued on a subsequent registration referred to in paragraph 1, can be asserted as far as this would lead to deterioration of the claims for compensation according to paragraphs 52 to 54 of the clean-up act for German foreign bonds. You are excluded insofar as their consideration would entitle the Exhibitor according to § 53 para 2 or § 54 para 2 of the clean-up act for German foreign bonds to cuts; an exclusion of the right of reduction remains after § 6 para 1 of the foreign bonds compensation law out of consideration.
(3) in paragraph 2 referred to claims for compensation shall apply for the the compensation law of foreign bonds over compensation claims from assessment notices with the exception of articles 6, 9 and with the proviso that the obligation of the exhibitor at the earliest two months after legal effect of the assessment decision begins; section 13 of the foreign bonds Compensation Act shall apply mutatis mutandis.

Type 5 - way 6 German currency denominated debt securities (1) for notes, paragraph 1 of the Convention are been issued these exhibitors from the to article directory before May 9, 1945 in German currency, rules that in paragraph 27 of the third law to amend and supplement the securities Cleanup Act of November 16, 1956 (Bundesgesetzbl. I S. 850) designated securities cleanup laws accordingly with the following stipulations: 1 as far as the date of their entry into force is governed by according to these laws, the date of entry into force of this law occurs in its place.
2. bonds, for which no Lieferbarkeitsbescheinigungen are issued, shall be deemed powerless in the territorial scope of this Act. From the date of publication of the final assessment by the Chamber for value paper cleanup at Lieferbarkeitsbescheinigungen may no longer be issued.
3. the guarantors referred to in the directory apply cleanup of bonds which are issued by the issuer referred to in the catalogue under number 1, as an exhibitor.
4. as a testing laboratory, a credit institution within the territorial scope of this Act can be named.
5. responsibilities which depend upon the securities Cleanup Act from the seat of the issuer, depending on the seat of the inspection body.
6. the notes are considered due within the meaning of § 1 of the second law to amend and supplement the securities Cleanup Act for the clean-up procedure; sections 11, 12, 13, 19 of the second law to amend and supplement the securities Cleanup Act are not applicable.
(2) for bonds, which are issued by the issuer referred to in the catalogue under number 1, shall apply mutatis mutandis the provisions of the third law to amend and supplement the securities Cleanup Act on subsequent logins.
(3) the Federal Government may extend the provisions of this article by legal Ordinance which shall not require the consent of the Federal Council, on bonds issued before May 9, 1945 in German currency other legal persons, who have had their seat in the German Empire on 8 May 1945 within its borders by December 31, 1937, and for their bonds, the prerequisites for a clean-up have not been. A Decree pursuant to sentence 1 may only be adopted if usable assets of the issuer is found within the territorial scope of this Act, which covers makes corrective measures required, or if corrective measures are economically available for other reasons. The decree is to determine, that instead of in paragraph 1 No. 1 of date of entry into force of this Act referred enters the date of the entry into force of the Legislative Decree.

Type 7 Land Berlin this law also applies in Berlin, Germany, unless the Land Berlin determines the application of this law. Regulations, which are adopted on the basis of this Act, apply in the Federal State of Berlin according to § 14 of the third of transfer Act of January 4, 1952 (Bundesgesetzbl. I P. 1).

Type 8 entry into force (1) this Act enters into force with the exception of articles 2, 4 and 5 on the day after its promulgation.
(2) articles 2 and 5 into force on the same day, on which the agreement enters into force.
(3) article 4 shall, as far as it concerns the subsequent grant of determining assessments for types of foreign bonds, as the issuing country in the directory of foreign bonds (annex to section 1, paragraph 1, of the clean-up act for German foreign bonds, completed Bundesgesetzbl by section 1 of the first implementing regulation to the cleanup Act of February 21, 1953 -. I p. 31) the United States of America are specified, at the time referred to in paragraph 2, in addition to the time in force referred to in paragraph 1.
(4)