Law on the management of the ERP special assets

Original Language Title: Gesetz über die Verwaltung des ERP-Sondervermögens

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month, or Get a Day Pass for only USD$9.99.

Law on the management of the ERP special assets

Unofficial table of contents

ERPVwG

Date of completion: 31.08.1953

Full quote:

"Law on the administration of the ERP special assets in the revised version published in the Bundesgesetzblatt part III, outline number 640-6,"

G up. by Art. 4 sentence 2 G v. 26.6.2007 I 1160 mWv 30.6.2007

For more details, please refer to the menu under Notes

Footnote

(+ + + Text-proof validity: 21.  3.1975 + + +) 

Introduced in the Saarland on 1.9.1957 by § 1 No. 35 V v. 26.8.1957 I 1255 Unofficial table of contents

§ 1

The Federal Ministry of Economics and Technology administers the provisions of Article III of the Law concerning the Agreement on Economic Cooperation between the United States of America and the Federal Republic of Germany of 15 December 1949, January 31, 1950 (Federal Law Gazette). 9), the assets of the Federal Republic of Germany as special assets of the Federal Republic of Germany under the name "ERP special assets". Unofficial table of contents

§ 2

The special fund shall be used exclusively for the reconstruction and promotion of the German economy in accordance with the provisions of the Agreement on Economic Cooperation between the United States of America and the Federal Republic of Germany. Germany of 15 December 1949 (Bundesgesetzbl. 1950 p. 10). Unofficial table of contents

§ 3

The special fund is not legally capable. It can act, sue and be sued under its name in the legal trade. The general place of jurisdiction of the special assets shall be determined by the seat of the highest administrative office. Unofficial table of contents

§ 4

(1) The special assets shall be kept separate from the remaining assets of the Federal Government, its rights and liabilities. (2) The Federal Government shall be liable for the liabilities of the ERP special assets; the Fund shall not be liable for the other liabilities of the Federal government. Unofficial table of contents

§ 5

(1) The special fund shall be retained in its stock. It is to be managed according to economic principles. (2) The funds of the special assets are usually awarded as interest-bearing loans. In special cases, non-interest-bearing loans and lost grants may also be granted. Interest and redemption amounts from loans as well as repaid grants are allocated to special assets. (3) Credit commitments may be granted under the appropriation (§ 7) and with the prior approval of the Federal Ministry of Finance. (4) The approval of the Federal Ministry of Finance is required for the acquisition of shareholdings with special assets, as well as for the acquisition of land, to the extent that: These shall not be used in connection with dingy charges in favour of Special assets are acquired in the forced auction. (5) Contracts for the purpose of taking over the obligation to pay out of the special assets beyond a year of accounting may finally be concluded after the date of the agreement. For the first time, the Federal Ministry of Finance has granted an approval for this purpose in the economic plan or the approval for the conclusion of the contract has been granted. Unofficial table of contents

§ 6

The Federal Ministry of Economics and Technology may, in agreement with the Federal Ministry of Finance, as far as it is necessary to avoid economic damage for the special assets or to carry out the purpose of the special assets (§ 2) , contracts concluded within the framework of the special asset management, to the detriment of the special assets in the course of the contract, shall be cancelled or amended as well as payment liabilities hours, deposited or enacted. The Federal Ministry of Economics and Technology may authorize the principal lending institutions in general to pay interest and redemption rates or to amend the repayment plans with regard to borrowers. Unofficial table of contents

§ 7

The Federal Ministry of Economics and Technology, in agreement with the Federal Ministry of Finance, estimates all revenue and expenditure of the special assets in an economic plan for each financial year. The revenue shall be determined by the main sources of expenditure, which shall be given separately for the main purposes of the application. The economic plan shall be established by law before the beginning of the accounting year. It shall be in balance in revenue and expenditure. Unofficial table of contents

§ 8

The issuing funds provided for in the economic plan of the special assets shall be transferable to the extent that the actual revenue actually received is not used. Unofficial table of contents

§ 9

(1) Exceedances of expenditure estimates of the economic plan and extrabudgetary expenditure shall be permitted only if the same amounts are accounted for in other expenditure estimates or the revenue side of the economic plan shall be increased accordingly. (2) Except in the case of the cases referred to in paragraph 1 may be exceeded only in the event of an unforeseen and unforeseeable need, and only within the limits of the available means, of expenditure estimates of economic plan or extrabudgetary expenditure. (3) Overruns or Non-scheduled expenditure in accordance with paragraphs 1 and 2 requires the prior approval of the Federal Ministry of Finance. Unofficial table of contents

§ 10

(1) The Federal Ministry of Economics and Technology is authorized, in agreement with the Federal Ministry of Finance, to borrow in the context of the credit authorization of the annual ERP economic plan. (2) The Federal Ministry of Economics and Technology (BMWB) Economy and technology are authorized to borrow up to 10% of the amount of the revolving debt for the purchase of debt instruments of the ERP special assets by way of market care. (3) The borrowing is carried out by the issuance of Debt securities and treasury bills, or through borrowing (5) The liabilities to be justified under paragraphs 1 and 2 shall be subject to the rules applicable to the administration of the general federal debt. (5) is managed by law. The warranties and guarantees to be transferred pursuant to section 5 (3) shall be administered by the Federal Office for Central Services and Open Property Issues. The Federal Ministry of Economics and Technology and the Federal Ministry of Economics and Technology jointly exercise legal powers to the Federal Ministry of Finance under the terms of the first and second sentences of 1 and 2. Unofficial table of contents

§ 11

(1) The Federal Ministry of Economics and Technology shall, at the end of each accounting year, draw up the annual accounts for the special assets and shall submit them to the Federal Ministry of Finance. The Federal Ministry of Finance takes over the annual accounts as an annex to the federal budget accounts. (2) The annual accounts must be considered in a clear manner to the stock of special assets, including claims and liabilities. and show the revenue and expenditure. The provisions of the commercial law shall not apply to the preparation of the annual accounts of the special assets. (3) The annual accounts shall be audited by the Federal Court of Auditors. The Federal Court of Auditors shall submit its observations to the Federal Ministry of Finance. (4) The Federal Ministry of Finance shall submit the observations of the Federal Court of Auditors to the Bundestag and the Bundesrat, together with the comments of the Federal Court of Auditors. Federal Audit Office on the bill of the federal government pursuant to Article 114 of the Basic Law. Unofficial table of contents

§ 12

(1) The Federal Ministry of Economics and Technology may, directly or through agents, comply with the Regulation on the obligation to provide information of 13 July 1923 (Reichsgesetzbl. 699, 723) by all natural or legal persons, commercial companies, associations and associations, public authorities or public authorities which have received or manage special assets, information or information; or Demand insight into the business books and business papers. The same shall apply to the beneficiaries in cases in which collateral has been ordered, guarantees or warranties, or acquired with funds from the special assets of the special assets. (2) The Federal Ministry of Economics and Technology is able to use the main lending institutions in the exercise of the right of examination in relation to the conducting credit institutions and the final creditors. Unofficial table of contents

§ 13

The costs for the administration of the special assets are borne by the Federal Government. Unofficial table of contents

§ 14

The federal budget order of 19 August 1969 (BGBl. 1284), as last amended by the Law of 18 July 1990 (BGBl I). 1447), it is also applicable to the special fund, provided that nothing deviates from this law. Unofficial table of contents

§ 15

The obligations of the special assets, taxes on the federal government, the Länder, the municipalities (municipal associations) and public bodies are subject to the rules generally applicable to federal authorities. Unofficial table of contents

§ 16

The implementation of this law is carried out in agreement with the Federal Ministries involved. Unofficial table of contents

§ 17

- Unofficial table of contents

§ 18

§ § 2, 5 (5) and § § 7, 8 and 9 of this Act shall enter into force on 1 April 1954.