Law on the amendment of the provisions of the right of conversion and on the provision of the Berlin Altbanken with countervailing requirements (conversion supplement law)

Unofficial table of contents

UergG

Date of completion: 21.09.1953

Full quote:

" Conversion supplement law in the adjusted version published in the Federal Law Gazette, Part III, outline number 7601-1, the latest by Article 94 of the Law of 17 December 2008 (BGBl. 2586).

Status:

Last amended by Art. 94 G v. 17.12.2008 I 2586

For more details, please refer to the menu under Notes

Footnote

(+ + + Text proof applicable: 1.1.1983 + + +) 

  

Section I
Conversion of Uraltguthaben

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§ 1

(1) Reichsmarkcredit, which passed on May 8, 1945 at a Berlin branch of a credit institution (original credit), is subject to § § 2 and 3 by credit from a Deutsche Mark for 20 Reichsmarks each in new funds. if the person to whom they were granted at the end of the 31 December 1952, at that time, his place of residence or permanent place of residence, his registered office or place of business within the scope of this Act, in the Saarland or abroad (2) As a credit institution within the meaning of paragraph 1, the Reichsbankanbroadcasters shall also apply: in Berlin, the Deutsche Golddiskontbank and the Postscheckamt Berlin. (3) For the purposes of this Act, a company has its registered office in Berlin (West), if it has its registered office in Berlin and the management is within the scope of this Act. (4) Rules relating to the restriction of the use of financial institutions shall not apply to the original credit, insofar as they are to be converted under this Act. Unofficial table of contents

§ 2

Delete the following original assets:

a)

Original credit on accounts held on 8 May 1945 for the Berlin branch of an old bank, for other branches within the scope of this Act or for credit institutions pursuant to § 3 of the thirty-fifth implementing regulation are or will be recognised as being transferred to the conversion law. This shall not apply to credit institutions which were wound up in liquidation on 31 December 1952 and which had already fulfilled their banking obligations at that time;

b)

Original credit, which would be considered as a Group III old-money balance under the conversion law;

c)

the original credit not covered by point (b) of persons and associations for which initial equipment has been granted;

d)

Original credit, the conversion of which would result in less than two and a half of the Deutsche Mark, whereby a number of assets of a person are to be combined with the same credit institution.

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§ 3

The following shall be excluded from the conversion under this Act:

a)

Original credit, insofar as they have been converted into the reorganisation of the monetary system in accordance with the provisions of this Act, adopted before the entry into force of this Act, or in accordance with the provisions adopted under the Basic Law. be able to transform requirements;

b)

original credit which has been declared for conversion in accordance with provisions other than those adopted within the scope of this Act, provided that the person concerned does not depart from his entitlement to the credit institution under those provisions, in which the original credit exists;

c)

Original credit which has been acquired by assignment of a person who does not fulfil the conditions of § 1 (1), § 5 or § 6, unless the assignment before the 1. In October 1949, a court or notary was informed that it was before the 1. They shall be publicly certified in October 1949 to the credit institution before the first. It became known in October 1949, or that it had been approved by law before 31 December 1952;

d)

Deposits of account holders who have had their residence or permanent residence, registered office or place of management in a non-German territory on 31 December 1952, the Government of which is the Federal Republic of Germany at its entry into force. of this law.

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§ 4

(1) Credits in the German mark due to the original law of 23 December 1949 (Regulation sheet for Groß-Berlin Part I, p. 509) and the provisions and directives adopted for this purpose no longer take place. Pending proceedings are terminated with reimbursement of the fees of the Examination Committee and the courts. (2) Credits in the German mark, which are not based on the original account specification and the implementing rules and guidelines issued for this purpose. should have been made, if the original credit would be converted under this Act. Unofficial table of contents

§ 5

(1) A person entitled under Article 1 (1) shall be entitled to a natural person who, after 31 December 1952, is resident or permanent in the territory of that law or in the territory of a State which is the Government of the Federal Republic of Germany. Germany has recognised, established or established, or has completed the sixtieth year of life, or is unable to work and is temporarily within the scope of this Act. (2) A original credit issued after 31 December 1952 in the If a heir has passed the succession, it shall be converted according to § 1 (1) (1) his residence or permanent residence at the time of the inheritance, within the scope of this Act or in the territory of a State which has recognized the Government of the Federal Republic of Germany, or at a later date such as The residence or residence has been or has been established or the sixtieth year of life has been completed or is incapable of being acquired and is temporarily within the scope of this Act. Unofficial table of contents

§ 6

(1) If the original credit of a marital goods community or a community of heirlooms is to be found, the conditions of § 1 para. 1 shall be deemed to be fulfilled if they are given at least in the person of a co-entitled person. (2) , the conditions set out in Article 1 (1) shall be deemed to have been fulfilled if they are fulfilled either in the person of all persons entitled to participate or if the Community as a whole has its registered office or place of business. Management within the scope of this Act or in the territory of a State which is the Government of the The Federal Republic of Germany has recognised, justified or justified the reasons. Unofficial table of contents

§ 7

Only full amounts of the Reichsmark will be taken into account in the conversion of the original credit. Unofficial table of contents

§ 8

(1) Interest on original assets may not be credited to any more for the period from 1 January 1945. (2) Interest-rate amounts credited for the period since 1 January 1945 are excluded from the conversion. Unofficial table of contents

§ 9

If credits or recredits were to be carried out in Reichsmark, they may still be carried out. This requires the approval of the Berlin Senators (Berlin Banking Authority), which is responsible for banking, unless there is a final court decision. The credit note shall be made with effect from 8 May 1945.

Footnote

§ 9 Sentence 2 italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 10

(1) To the extent that funds which have been deposited or paid out by third parties with account holders pursuant to § 2 (b) to (c) or are excluded from the conversion pursuant to § 3 (d) are included in the original credit, which have been deposited or paid in by account holders and from which Account holders for foreign accounts are managed (foreign funds), the person on whose behalf the funds contained in the balance shall be administered shall be considered as a person entitled to the conditions for the conversion of the funds in question. Uraltguthabens fulfils and if the Court of Auditors of the State of Berlin confirms that it is a foreign money within the meaning of this provision. The decision of the Court of Auditors may be challenged in administrative proceedings. (2) With the credit of the new money credit, the claims of the beneficiaries shall be extinguissed from the deposit or deposit. Unofficial table of contents

§ 11

Original credit, where the account name indicates that they are held for a foreign account, shall be converted only to the extent that they are subject to the conditions for the conversion of the person for whom the account is held in the person for whom the account is held. Uraltguthabens are given. Unofficial table of contents

§ 12

(1) Urals which are capable of conversion in accordance with this Act shall be notified. If a deposit or other right of a third party exists at a converted original credit, the person entitled shall be obliged to the third party to make the application. In the case of the application, rights which exist on the original credit shall be indicated and the holder's restrictions on the disposal of the holder in respect of the original credit. The application should be accompanied by the existing documents. (2) Unofficial table of contents

§ 13

(1) Registration points are:

a)

Credit institutions within the scope of this Act, the Deutsche Bundespost and the Postal Administration in Berlin (West), provided that they are entitled to manage the new money credit (New Institutes);

b)

the administrative office of the Berlin credit institution, where the original credit was held on 8 May 1945 (Altes Institut).

(2) New institutions are obliged to accept and to process applications where the management of an account of this type and of that size corresponds to their business circle, unless the applicant is otherwise required to receive the application proof that the institute has been prepared. Unofficial table of contents

§ 14

(1) A claim for conversion to a new money balance cannot be asserted from a non-registered old credit balance. (2) (3) Unofficial table of contents

§ 15

(1) The application has to be checked whether the requirements of § 1 or § 5 or § 6 are given in the person of the person for whom the application is made (applicants). (2) The registration office has the result of the examination on the application under (3) If the registration office is a new institute and if it considers proof in accordance with paragraph 1, it shall forward the application with the documents to the administrative office of the Old Institute. Otherwise, it shall forward the application only at the request of the applicant. Unofficial table of contents

§ 16

(1) If the Administrative Office of the Old Institute provides the conditions for the conversion as given, it shall recognise the amount and the extent to which the original credit is capable of being converted. (2) The administrative body shall be entitled to the conversion capacity of the original guthabens only in so far as the amount of the original credit is derived from the business documents or documents in their possession which the institution itself issued. The documents must be made up of the account balance of 20 April 1945 or at a later point in time. (3) The amount of the original credit shall not be made up of the documents referred to in paragraph 2, or the administrative body shall have doubts as to whether the The conversion capability of the Uraltguthabens may only be recognized with the consent of the Berlin Banking Authority.

Footnote

§ 16 (3), § 17 sentence 2 and Section 19 (1) italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 17

Where the conversion of a prehistoric credit of no more than five thousand Reichsmarks on an account denominated in the name of a deceased person is claimed by the spouse, a parent or a descendant, with the declaration that he or she is a heir or a descendant of a parent or a descendant. If the conditions of § 1 (1) are given in the person of the person who claims the conversion, the administrative office of the Old Institute may recognise the conversion capacity of the original guthabens in favour of the heirs. The same applies to the original credit of more than five thousand Reichsmarks if the Berlin Banking Authority agrees.

Footnote

§ 16 (3), § 17 sentence 2 and Section 19 (1) italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 18

The administrative office of the Old Institute must note the recognition of the conversion capacity of the original credit, stating the person entitled on the application, with the date and the signature. In addition, the application shall include rights relating to the original credit and, in respect of the credit, any restrictions on disposal of the holder, which are known to the administrative body. Unofficial table of contents

§ 19

(1) The Berlin Banking Authority shall monitor the recognition of the conversion capacity of the original credit. The recognition must be confirmed. (2) The responsibility of the administrative office of the Old Institute shall not be excluded by the supervision and confirmation of the recognition.

Footnote

§ 16 (3), § 17 sentence 2 and Section 19 (1) italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 20

(1) The registration provided with the confirmation is to be sent to the New Institute, which has become active as a registration office. (2) If the application has been filed with the administrative office of the Old Institute, the Old Institute has received a request the application has not been submitted for admission to the new business or if the application has been rejected, the administrative body shall forward the application to a new institute which is to be determined by the applicant and has the right to manage the new financial credit. Section 13 (2) shall apply accordingly. (3) The applicant may require the forwarding of the information as long as the Old Institute has not yet been admitted to the new business. Unofficial table of contents

Section 21

(1) If the conversion capability of the Uraltguthabens is not recognized or is only partially recognized, the administrative office of the Old Institute shall inform the applicant of this by registered letter or against receipt of receipt, stating the reasons. The Berlin Banking Authority and the New Institute shall send a copy of this communication. (2) Within six months of receipt of the notification referred to in paragraph 1, the notifier may apply for a court decision; to lecture in the communication.

Footnote

Section 21 (1) sentence 2 and Section 22 (1) Sentence 2 italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

Section 22

(1) A civil chamber of the Landgericht Berlin decides on the application pursuant to section 21 (2). The Federal Government is involved in the proceedings; decisions must be sent to the Federal Minister of Finance at the hands of the Berlin Banking Authority. (2) The provisions of the Act on the Procedure in Family Matters are applicable to the court proceedings. and in the affairs of voluntary jurisdiction, unless otherwise provided in this Act.

Footnote

Section 21 (1) sentence 2 and Section 22 (1) Sentence 2 italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

Section 23

The Court of First Instance shall decide on the application by a reasoned decision. Unofficial table of contents

§ 24

(1) The appeal against the decision shall be made to the Court of Appeal. (2) The appeal may only be based on an infringement of the law. The provisions of § § 546, 547, 559, 561 of the Code of Civil Procedure shall apply accordingly. (3) The appeal may be filed with the District Court or the Chamber Court. When the appeal is filed by a notice of appeal, the complaint must be signed by a lawyer. The confiscation of a lawyer shall not be required if the complaint is filed by an authority or by a notary who has filed a request in the matter for the appellant in the first legal suit. Unofficial table of contents

Section 25

The decision shall take effect with the legal force. It is binding on the courts, the administrative authorities and the New Institute. Unofficial table of contents

Section 26

The court shall determine which parties have to bear the costs in accordance with their reasonable discretion. It may also determine that the out-of-court costs are to be reimbursed in whole or in part. The provisions of § § 102 to 107 of the Code of Civil Procedure shall apply accordingly.

Footnote

Section 26 Sentence 3 Italic: Aufgeh. by Art. 2 No. 2 G v. 27.11.1964 I 933 Unofficial table of contents

§ 27

(1) For the costs of legal proceedings, unless otherwise specified, the provisions of the Code of Costs of 25 November 1935 (Reichsgesetzbl. 1371). (2) The full fee will be charged for the court proceedings. If the application is withdrawn before a decision of the Court of First Instance has been taken, the fee shall be reduced to half. (3) Double the full fee shall be charged in the appeal proceedings. The second sentence of paragraph 2 shall apply accordingly.

Footnote

Section 27 (1) italic print: Now of 26 July 1957 (Federal Law Gazette). 960). Art. 11 § 7 G v. 26.7.1957 I 861, 935 Unofficial table of contents

§ 28

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§ 29

(1) The New Institute has to credit the amount resulting from the confirmed recognition or from the court determination to the beneficiary with a value of 1 January 1953 in the German mark (new money balance). (2) Was the original credit a savings balance, the new money balance shall be considered to be a savings balance with a statutory period of notice. All other new funds shall be considered as sight deposits if nothing else is agreed upon. Unofficial table of contents

§ 30

(1) Rights existing on the original balance and the restrictions on disposal to which the holder is subject in respect of the original credit shall continue on the new money balance. However, the New Institute shall be exempted from the holder of the new cash credit by providing it, unless the rights or the restrictions on disposal have been recorded in the application or have otherwise become known to the New Institute. (2) Restriction of disposal within the meaning of paragraph 1 shall also apply to a right of retention of the Old Institute on the original credit. Unofficial table of contents

Section 31

(1) The applicant may not be charged fees and levies by the administrative office of the Old Institute and the New Institute on account of the obligations imposed on them under this Act. (2) For each of which is recognized in accordance with § 16 of the Act of the institution of the Institute of Management of the Old Institute of the Arts. In accordance with § 21, the administrative office of the Old Institute receives a remuneration of four German marks. For each credit in accordance with § 29, the New Institute shall receive a remuneration of two Deutsche Mark from federal funds, unless the New Institute is at the same time the Altes Institut. (3) Applications for payment of remuneration pursuant to paragraph 2 shall be submitted to the Berlin Banking Authority. They may be submitted for the first time six months after the entry into force of the law, and in the remaining six months after the end of the law. The application shall be accompanied by a referral. The New Institute has to declare in the proof that credit has been credited to the German mark in accordance with § 29 for the credit in it. (4) The Berlin Banking Authority shall verify the applications and the remittanes by hand of their documents and shall determine the right to remuneration. The findings are to be forwarded to the Federal Minister of Finance with the requests and remittantions.

Footnote

Section 31 (3) Sentence 1 and (4) italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

Section 32

(1) The New Institute shall be granted a liquidity endowment of 15 per cent for each new cash balance. (2) The liquidity endowment shall be provided to the New Institute by the competent national central bank (Berliner Central Bank) for one month in each case. credited new money balance. The Landeszentralbank (Central Bank of Berlin) is credited with a corresponding amount by the Bank of German Länder.

Footnote

Section 32 (2) Kursive pressure "Landeszentralbank": See. § 8 BBankG 7620-1
Section 32 (2) Kursive Printing "Berliner Central Bank": First Landeszentralbank in Berlin; then mWv 1.11.1992 Landeszentralbank der Länder Berlin u. Brandenburg gem. Art. 1 (2) (a) G v. 15.7.1992 I 1287, cf. § 8 BBankG 7620-1
Section 32 (2) and Section 33 (2) italic print "Bank of German Länder": now Deutsche Bundesbank gem. § 1 BBankG 7620-1 Unofficial table of contents

§ 33

(1) In the amount of the new funds, the Federal Government shall grant compensatory claims. (2) The compensatory claims shall be granted in the amount of the liquidity endowment of the Bank of German Länder and, moreover, the New Institutes. (3) The New Institute shall have the refund the amount of liquidity granted and the compensatory amount granted to it if the credit has been wrongly paid and has acted in a culpable manner. The New Institute shall have the same degree of fault of its legal representatives and of the persons whose use it serves in carrying out the credit as well as its own fault.

Footnote

Section 32 (2) and Section 33 (2) italic print "Bank of German Länder": now Deutsche Bundesbank gem. § 1 BBankG 7620-1 Unofficial table of contents

Section 34

(1) Applications for the granting of compensation claims shall be addressed to the Berlin Banking Authority. They may be submitted for the first time six months after the entry into force of the law, and in the remaining six months after the end of the law. The application shall be accompanied by a reference to the new funds for which the grant of a compensatory request is requested. The New Institute has to declare that credit is given for the new funds listed in the reference. (2) If the registration of the compensatory request is requested on the name of a Girozentrale or Central Fund, the repayment of the credit balance shall be to direct the New Institute of the Berlin Banking Authority through the Girozentrale or Central Massacre. The Girozentrale (Girozentrale) or the Central Bank (Central Bank) summares the applications and remittantions of the affiliated institutes and forwards them to the Berlin Banking Authority with a request for the registration of the compensation claim. (3) The The Berlin Banking Authority shall review the applications and the remittanes by hand of their documents and shall determine the right to grant the compensation claims. The findings are to be forwarded to the Federal Minister of Finance with the requests and remittantions. (4) The Federal Minister of Finance shall determine the right to grant the compensation claims to the Swiss Post Office and to the Bank of German Länder.

Footnote

§ 34 para. 1 to 3 italic pressure: See. § 9 G v. 22.1.1964 7601-3
Section 34 (4) italic print: now Deutsche Bundesbank gem. § 1 BBankG 7620-1 Unofficial table of contents

§ 35

(1) The countervailing claims shall be debtor claims. They are entered in the Bundesschuldbuch at the request of the Federal Minister of Finance. (2) Bonds against deletion of the claims are not handed out. In addition, the Bundesschuldenabsengesetz (Bundesschuldenabsengesetz) applies. (3) The compensatory claims are to be applied to Section 11 (4) of the Relocation Act and Article 11 (3) of the Second Implementing Regulation to the Relocation Act. Unofficial table of contents

§ 36

(1) The compensatory requirements shall be galvanissed from 1 January 1953 to 3 per annum of the hundred. On 1 January 1983, the German Bundesbank against the Federal Government is to be galvanissed from 1 January 1983 to 1 per annum. The Bank of German Länder shall pay the share of the interest received by the Bank of interest to the New Institute for the period between 1 January 1953 and the date on which it was granted, and the amount of the compensation to be granted to it. (2) The interest shall be payable at the end of each calendar half-year after the registration of the compensatory amount, for the first time at the end of the calendar half-year running at the time of the registration of the compensatory claim. The Federal Minister of Finance is authorized, in special cases, to pay the accrual payments to the interest before registration of the compensation claim. (3) Interest amounts for a compensatory claim, which the Federal Government only does after the expiry of the The calendar half-year for which they are to be paid shall be galvanissed from that date to the payment of 5 per annum of the hundred. Interest-rate amounts for a compensatory amount to be reimbursed to the Federal Government shall be galvanissed from the date of receipt to the refund with 5 per annum of the hundred.

Footnote

Section 36 (1) italic print: now Deutsche Bundesbank gem. § 1 BBankG 7620-1 Unofficial table of contents

Section 37

(1) In the amount of the compensation claims which have been granted on account of the conversion of the original credit, the Federal Government acquires a claim against the Old Institute in the German mark. This does not apply insofar as the Altes Institut is the Postscheckamt Berlin. (2) If the Old Institute is a Berliner Altbank, it may, because of the liabilities referred to in paragraph 1 and the corresponding liabilities, be made up of Paragraph 5 of the Berlin Uraltkontendetermination is only used to the extent that the cover (§ 45 para. 2) is higher than the amount to be calculated in accordance with § 45 (3) to (6). (3) By law of the Land Berlin it is determined which credit institutions as Berliner Altbanken. Unofficial table of contents

§ 38

In so far as a Altbank in Berlin can be used in accordance with section 37 (2) on the basis of the liabilities to the public authorities and its compensation claims are due to the conversion of the old credit balance, which is the case with it as a new money balance , the compensation and liability to the Federal Government, as well as the compensation and liability with respect to the Land of Berlin, can be offset against each other. The settlement shall apply to compensation claims and liabilities pursuant to section 37 (1) with effect from 1 January 1953 and to compensatory claims and liabilities pursuant to paragraph 5 of the Berlin Uraltkontendetermination with effect from 1 January 1950. , Unofficial table of contents

§ 39

(1) Insofar as a Berliner Altbank can be credited for cash payment due to the liabilities to the public authorities from the original account conversion, the liabilities of 1 January 1953 shall be payable at 3 per annum of the hundred. (3) The Federal Minister of Finance is authorized to examine whether and to what extent the Altbank in Berlin can reasonably be expected to be able to repay for its economic situation. (3) Interest on hours, to be cancelled or to be issued, if the institution asserts that the institution shall: (4) Payments made in accordance with paragraph 1 shall be used for the repurchase of compensation claims which have been granted pursuant to this Act or the Berliner UraltkontenScheme (the Berlin Original Account). Delete the recompensed compensation claims. Unofficial table of contents

§ 40

The provisions of § § 37 to 39 shall apply mutatily if the total assets and liabilities of a Berliner Altbank are transferred to another Berliner Altbank or another credit institution or to the total assets and liabilities another credit institution is transferred to an old bank in Berlin.

Section II
Amendment of other provisions of the conversion legislation

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Section 41

(1) Payment liabilities which have been established before 9 May 1945 in the business operation of a Berlin branch of a credit institution shall be extinguisher, even where it is not liabilities from a credit institution's original credit,

a)

if it existed on 8 May 1945 in respect of credit institutions having their registered office within the scope of this Act. Credit institutions whose registered office is within the scope of the Basic Law shall also be those credit institutions whose principal place of business has been or will be recognised as being transferred under Section 3 of the Thirty-fifth Implementing Regulation to the Conversion Act. § 2 (a) sentence 2 shall apply accordingly;

b)

if they existed on 8 May 1945 in relation to the legal entities referred to in § 14 of the Law on the Law of the Law of Reality.

(2) In so far as payment liabilities which would fall under paragraph 1 have been fulfilled before the entry into force of this law or have been regulated elsewhere, it shall have to apply. (3) Paragraph 1 shall not apply if it relates to liabilities in foreign currency, to liabilities arising from bearer bonds, to liabilities arising out of loans within the meaning of Section 22 of the conversion law or to the obligation to deduct the interest received or received in German mark or repayment amounts for trustee forwarded or for the account of a Third given credits. Unofficial table of contents

§ 42

(1) Insofar as liabilities have been established in the business operations of a branch situated outside Berlin, which has been recognized as being transferred to the conversion law in accordance with § 3 of the thirty-fifth implementing regulation, the In accordance with the provisions of the law on conversion, a financial institution shall also be used if, on 21 June 1948, the liability was against a person domicated at that time, permanent residence, registered office or place of business. in Berlin (West) or Saarland, or who are resident after that date or permanent residence within the scope of this law or abroad, or which has completed the sixtieth year of life or is incapable of working and is temporarily within the scope of this law. The same shall apply in respect of liabilities that exist in respect of a natural person who, after 21 June 1948, has become or becomes a person entitled to succession and the conditions of sentence 1 or of § 6 (1) (2) (a), (3) Point (a) of the thirty-fifth implementing regulation on the conversion law. A limitation of the use resulting from § 6 (2) of the thirty-fifth implementing regulation on the conversion law shall remain unaffected. In the case of contractual and other pension obligations, the financial institution can only be used by a person entitled to residence or residence after 21 June 1948, insofar as it is concerned with the condition of residence or residence. Pension benefits for the period since 1 January 1964. If the conditions for use are not fulfilled until after 1 January 1964, the date of 1 January 1964 shall be replaced by the beginning of the month in which the conditions have been fulfilled and the person entitled to claim his claim has been fulfilled. . From contractual and other pension obligations, the financial institution cannot be used by an authorized person who is only temporarily staying within the scope of this law. With regard to the seat in Berlin, § 1 para. 3 is to be applied in accordance with § 6 with regard to the use of legal communities. (2) § 4 of the thirty-fifth implementing regulation applies to the registration of old money deposits. The law on conversion makes sense; the freezing of the application is no longer necessary. Claims arising from debt securities issued before 9 May 1945 shall be notified in accordance with § 5 of the thirty-fifth implementing regulation on the conversion law; the freezing of the application is no longer applicable. § § 3 and 4 of the Second Implementing Regulation on the conversion supplement act of 26 April 1954 (Federal Gazette No. 81) shall apply mutaly to the proof that the financial institution can be used for the claim filed under the notified claim; hereby shall be replaced by the post of 30 September 1949 of 20 June 1948 and in the place of 1. October 1949 of 21 June 1948. (3) Insofar as the use of a financial institution referred to in paragraph 1 of this article pursuant to Article 6 (2) sentence 1 of the thirty-fifth implementing regulation on the conversion law depends on the territory in which the financial institution is , the territory of Berlin (West) must also be taken into consideration as a countervalue of funds allocated on 20 June 1948. Pursuant to Section 6 (2) sentence 2 of the thirty-fifth implementing regulation on the conversion law, the assets in Berlin (West) are to be added to the assets in the currency area. (4) Insofar as a financial institution referred to in paragraph 1 is pursuant to paragraph 1, or pursuant to Article 6 (1) and (2) of the Thirty-fifth Implementing Regulation, it is not possible to use the provisions of the Law on the Law of Entrance, which shall be subject to the provisions of the Act of The financial institutions shall also be inadmissible from such judgments or other enforcing titles which: (5) The financial institutions referred to in paragraph 1 shall also have referred to the provisions of paragraph 1 of this Article. Liabilities and the assets that were present at the beginning of June 21, 1948 in Berlin (West) and Saarland, to be placed in the conversion bill. In the calculation of the former equity capital according to § 7 (2) sentence 3 of the thirty-fifth implementing regulation on the conversion law, the partial amounts of the previous equity capital to the territory of Berlin (West) and the Saarland are also included. as well as the liabilities for which the financial institution referred to in paragraph 1 may be used. (6) Where, in accordance with paragraphs 1 and 3, the balance requirement of the financial institution is increased by the fact that it is used by persons , the place of residence, residence, registered office or place of management at the 21. In June 1948 in Berlin (West), the Land of Berlin owes the compensation claim. In the rest, the Federal Government is the debtor of the compensatory requirement. (7) To the extent that the Federal Government is the debtor of the compensatory requirement, the claim for an increase in the compensation claim shall be determined by the authority responsible for the confirmation of the conversion bill of the as a relocated financial institution. If the conversion invoice is corrected, the statement made in accordance with the first sentence shall also be corrected. The statement and any correction shall be communicated to the Federal Minister of Finance. (8) The compensatory claims due from the Federal Government are debtor claims. They shall be entered in the Bundesschuldbuch at the request of the Federal Minister of Finance, and the registration shall be corrected in the case of the second sentence of paragraph 7. Section 35 (2) and (3) shall apply accordingly. Unofficial table of contents

Section 43

(1) Berliner Altbanken with principal place of business (registered office) in Berlin (West), which have set up an old bank account, are no longer obliged to pay for their branches or other premises, from the date of the bank account. (2) Section 2 (2) to (4) of the D-Markbalances Act on the appointment of permanent representatives and on the establishment and notification of the German Federal Law on the Protection of the Rights of the German Marks and the Law of the Law of the German Federal State (D) of the German Federal Market Act (D-Markbalances). Branch offices are located on Berliner Altbanken with headquarters in Berlin (West) , the powers of a permanent representative registered in the Register of Companies (Cooperative Register) shall be subject to the registration of the revocation of his order. Applications for the appointment of permanent representatives shall be deleted at the request of the legal representatives of the company, free of charge. Unofficial table of contents

Section 44

(1) From Berliner Altbanken, which have drawn up an opening balance sheet in German mark pursuant to § 1 of the forty-second implementing regulation on the conversion law, the assets and liabilities entered in the old bank account are with the same values as well as the compensatory claims granted to them in accordance with Section III, with the nominal amount in the balance sheet following the confirmation of the old-bank account, instead of, in the case of the first subparagraph of Article 1 (3) of the forty-two Implementing regulation on the conversion law in the balance sheet Remembering reminder posts. Adjustments to the old bank account shall be taken into account in the following balance sheet. (2) The surplus of the assets to be transferred to the balance sheet under paragraph 1 above the liabilities to be transferred to the balance sheet shall be the Relays.

Section III
Furnishing of the Berliner Altbanken with compensatory claims

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§ 45

(1) Berliner Altbanken shall have the amount of the amount of the liabilities to be entered into the old bank account in order to exceed the assets to be entered in the old bank account in order to be able to enter into the old bank account the assets to be entered in the bank account (Undercover), a claim for the grant of a compensation claim against the federal government. In the case of old banks, which at the same time are financial institutions within the meaning of § 1 of the thirty-fifth implementing regulation on the conversion law, the assets and liabilities to be entered in the West German special account (section 43 (1)) shall not be taken into consideration. (2) Unless the assets to be taken into account in accordance with paragraph 1 exceed the liabilities to be taken into account in accordance with paragraph 1 (overlap), old banks shall also be entitled to compensation for settlement costs and, as a preliminary own capital, to: Grant of a compensation claim against the Federal Government at the level of the amount which is paragraph 3. This shall not apply to old banks falling within the terms of Section 2 (a) sentence 2. (3) For the purposes of calculating the claim referred to in paragraph 2, use shall be made at the choice of the Altbank either:

a)

20 Deutsche Mark for each 100 Reichsmarks of the previous equity, insofar as this does not exceed 300,000 Reichsmarks, and 10 Deutsche Mark for each 100 Reichsmarks of the 300,000 Reichsmark exceeding part of the former equity capital (§ 46), or

b)

the difference between 250 and 100% of the assets to be taken into account in accordance with paragraph 1 and 100 of the hundred of the total liabilities established in the business of the Berlin branch of the Altbank, which shall not be placed in a western German Special account (Section 43 (1)), including the liabilities referred to in § 37 in relation to the public sector, from the original account conversion and those liabilities which neither change to Deutsche Mark nor to the public authorities. are, however, not more than 20 German marks per 100 Reichsmarks of the former Own capital (§ 46), or

c)

7.5 of the hundred-in the case of old banks of public law, for which a guaranty is liable, 4,5 of the hundred-the liabilities to be taken into account in accordance with paragraph 1, with the exception of provisions.

(4) Except in the calculation of the claim referred to in paragraph 3 (b) and (c), those liabilities and assets which, after 21 June 1948, shall be taken into account by the re-inclusion of long-term funds or the investment of those funds shall remain in force. (5) The claim referred to in paragraph 2 shall be limited in such a way that it does not cover the difference between one million Deutsche Mark and one overlap, in the cases of Paragraph 3 (b) and (c) not more than 15 Deutsche Mark for a hundred Reichsmarks of the former Own capital (§ 46). This restriction shall not apply if:

a)

the Altbank is admitted to the new business or is admitted to the new business, and also

b)

the Berlin Banking Authority, in agreement with the Federal Minister of Finance, after hearing the Berlin Central Bank, recognises a general economic need for the exercise of the new business.

(6) The Berlin Banking Authority shall, in agreement with the Federal Minister of Finance, allow the restrictions provided for in paragraph 5 to be applied in so far as they do not apply.

a)

the Altbank through the securities settlement for securities with the effective date of 31 December 1952 (Section 6 (2) of the securities settlement laws, § 19 of the German Bonds Clearing Act) costs arising neither from the assets of the bank can still be covered by the proceeds of the Altbank, or

b)

it is established that the necessary costs for the settlement of those assets and liabilities, which are not covered by the Altbank's own income, which are available on the date of the Altbank account and not in a West German Special account (Section 43 (1)), as well as for the fulfilment of the obligations of the Altbank from the management of the depots held at the Berlin branch of the Altbank branch, including those at the Berlin branch of the Altbank Registered applications for securities settlement over the amount of one million Germans Mark out. The conditions set out in the first sentence shall be verified by confirmation of an auditor who is to be appointed by the Altbank in agreement with the Berlin Banking Authority and the Federal Minister of Finance.

(7) The old bank account shall be drawn up on 1 January 1953. To the place of 1 January 1953, in the case of old banks which were admitted to new business before 1 January 1953, the beginning of the financial year in which they were admitted to the new business, and in the case of legacy banks, the financial year of which not covered by the calendar year, the beginning of the financial year running on 1 January 1953. Details of the assets and liabilities to be entered in the old bank account and their evaluation, on the form of the old bank account and on the documents to be annexed thereto, and on the verification, confirmation and correction of the old bank account , taking into account the principles of the Second, Thirty-eighth and Thirty-eighth Implementing Regulations to the Relocation Act and Section I of this Law, governed by the Law of the Land of Berlin.

Footnote

§ 45 (5) sentence 2 italic print: First Landeszentralbank in Berlin; mWv 1.11.1992 Landeszentralbank der Länder Berlin u. Brandenburg gem. Art. 1 (2) (a) G v. 15.7.1992 I 1287, cf. § 8 BBankG 7620-1
Section 45 (5) and 6 italic print "Berliner Banking Authority": See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

Section 46

(1) If the Altbank does not have an establishment outside of Berlin, it shall be deemed to be a former equity capital within the meaning of § 45 either.

a)

the last unit value established before 9 May 1945, or

b)

130 of the hundred of the total amount shown by the Altbank in its last annual accounts as capital, as well as statutory and other reserves, as established before 9 May 1945, minus the outstanding capital contributions and the reported amount of the total amount of the total amount of the assets. Loss.

(2) If, except in Berlin, the Altbank has only branches within the scope of the Basic Law, the amount according to which the pro-rata former equity capital according to § 7 (2) of the thirty-fifth of the thirty-five shall be considered as the entire former equity capital shall be the sum of the previous equity capital. the implementing regulation on the conversion law, and as an earlier equity capital within the meaning of Article 45 (3) (a) and (b) for the calculation of their claims under these provisions, that part of the total previous equity capital, which does not fall within the scope of the Basic Law of the whole of the former (3) If the Altbank branch has branches both within the scope of this Act and outside this territory, the total former equity capital shall be the amount according to which the pro rata previous equity capital according to § 7 Paragraph 2 of the thirty-fifth implementing regulation is calculated on the conversion law and, as an earlier equity capital within the meaning of Article 45 (3) (a) and (b), that part of the total previous equity capital, which is the ratio of the business operations of the Branch of Berlin established liabilities to the total liabilities of the institution after the last annual financial statements before 9 May 1945. If the Berlin branch is recognized as being transferred, the part to be deducted from the part to be determined by the Berlin branch in accordance with Section 7 (2) of the Thirty-fifth Implementing Regulation to the Relocation Act is to be deducted from this. (4) In the case of an old bank which does not fall within the scope of Section 3 of the thirty-fifth implementing regulation relating to the conversion act, nor has its registered office in Berlin, the part of the former equity capital within the meaning of section 45 (3) (a) and (b) shall be deemed to be the total previous equity, which corresponds to the ratio in which the Business operations of the Berlin branch are liabilities to the total liabilities of the Institute. The following shall be considered to be the sum of its former own capital, at the choice of the Altbank, of the amount referred to in paragraph 1 (a) or (b). (5) As an establishment within the meaning of the second sentence of paragraph 2 and the first sentence of paragraph 3, a third sentence shall also apply in accordance with Section 3 of the thirty-five Implementing regulation on the conversion law as a relocated establishment. (6) The amount of the former equity capital in accordance with the provisions of paragraphs 1 to 5 shall be determined by the Berlin Banking Authority after consultation of the Berlin Central Bank noted. The Berlin Banking Authority, in agreement with the Federal Minister of Finance, may, by way of derogation from the provisions of paragraphs 1 to 4, determine the former equity capital if this is justified by special circumstances.

Footnote

Section 46 (6) Kursive druck "Berliner Central Bank": First Landeszentralbank in Berlin; mWv 1.11.1992 Landeszentralbank der Länder Berlin u. Brandenburg gem. Art. 1 (2) (a) G v. 15.7.1992 I 1287, cf. § 8 BBankG 7620-1
Section 46 (6) italics "Berliner Banksupervisory authority": See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 47

(1) The compensatory requirements shall be galvanissed from 1 January 1953 to 3 per annum of the hundred. (2) Insofar as the capital liabilities to be taken into consideration pursuant to § 45 (1) are due to undue debt securities and not yet due date Obligations arising from school fees for loans within the meaning of Section 22 (1) sentence 3 of the Law on the Replacement Act, which has issued a basic or communal credit institution instead of debt securities, which are to be taken into account in accordance with Article 45 (1) of the Act of Reality (3) The compensatory claim shall be galvanissed with 4 1/2% of the total amount of the claims. After registration of the compensation claim (§ 50), interest shall be paid at the end of each calendar half-year, for the first time at the end of the calendar half-year running at the time of the registration of the compensatory claim. The Federal Minister of Finance is authorized to pay the interest on the interest before the registration of the compensation claim. (4) Interest amounts for a compensatory amount which the Federal Government does not make until after the end of the calendar half-year, for that they are to be paid shall be galvanissed from that date until payment of 5 per annum of the hundred. Interest-rate amounts for a compensatory amount to be reimbursed to the Federal Government shall be galvanissed from the date of receipt to the refund with 5 per annum of the hundred. Unofficial table of contents

§ 48

(1) Where a cover must be covered by law or contract in respect of debt securities or obligations arising from school-thirddays, the compensatory requirement of an Altbank at par with the nominal value of 4 1/2 per annum shall be deemed to be the nominal value as (2) In addition, the compensation claims of the financial institutions may be used as a provisional cover within the meaning of Section 6 (4) of the Mortgage Bank Act and corresponding provisions in other laws or contracts. Unofficial table of contents

§ 49

The claim for the grant of the compensation claim in accordance with § 45 is determined by the Berlin Banking Authority on the basis of the confirmed old bank accounts. If the old-bank account is adjusted, the statement made in accordance with the first sentence shall also be corrected. The statement and any rectification shall be communicated to the Federal Minister of Finance.

Footnote

§ 49 Sentence 1 italic print: See. § 9 G v. 22.1.1964 7601-3 Unofficial table of contents

§ 50

(1) The countervailing claims shall be debtor claims. They are entered in the Bundesschuldbuch at the request of the Federal Minister of Finance. The registration is to be corrected in the case of § 49 sentence 2 at the request of the Federal Minister of Finance. (2) § 35 (2) and (3) apply. Unofficial table of contents

Section 51

(1) Altbank, which has been granted a compensation claim pursuant to § 45 (2) in conjunction with § 45 (3) (b) or (c) which, together with the cover, constitutes more than 15 Deutsche Mark for each 100 Reichsmarks of the previous equity capital. requires the amount to be transferred to the Federal Government at the latest one month after the conclusion of the annual financial statements for the financial year running on 31 December 1972. The obligation to grant may be fulfilled by waiving a compensation claim against the federal government at the same level. (2) According to the first sentence of paragraph 1, no higher amount is to be deducted than the compensation claim granted by the Altbank pursuant to Article 45 (2). (3) An Altbank, which has to pay an amount pursuant to paragraphs 1 and 2, is obliged to form a provision on account of this liability and that it shall, for the period leading up to the end of the period running on 31 December 1972, be returned annually. Appropriate amounts for financial year. Unofficial table of contents

Section 52

In the case of an old bank which is entitled to grant a compensation claim, a claim which is guaranteed by the rich or which has otherwise become doubtful as a result of damage to the war or consequential damage to the war, into which An old bank account with a lower value than ten Deutsche Mark for a hundred Reichsmarks of the Reichsmarknominal value, the Federal Government may demand that the claim be assigned to it. This shall also apply in particular to claims which are secured by fundamental rights of property on destroyed or damaged land and for which interest rates are not or are not to be introduced at the level of the owed amount. The old bank account must be corrected in so far as it is appropriate. Unofficial table of contents

Section 53

Any Altbank, which receives compensation claims under the provisions of this section, has to transfer its rights to the federal government from claims of the kind referred to in § 14 of the conversion act, unless a transfer has already been made pursuant to Section 11 (3) (a) of the Act of the German Federal Government. 1 sentence 3 of the conversion law to a country is required.

Footnote

§ 53 italic pressure: now § 11 para. 1 sentence 4 UmstG v. 20.6.1948 WiGBl. Beil. No 5 p. 13 Unofficial table of contents

§ 54

(1) At the latest at the time of the reunification of Germany, the conditions are created for the creditors to be satisfied, of which the Altbanken in Berlin are currently not eligible for use. In so far as the cover minus an amount calculated in accordance with section 45 (3) and the assets of the old banks which are then available again are not sufficient to cover those liabilities, the Altbanken shall be entitled to grant a Compensation claim or any other cover against the federal government. (2) In so far as the liabilities referred to in the first sentence of paragraph 1 have to be covered by law, contract or statutes, it shall be replaced by the claim referred to in paragraph 1.

Section IV
Final provisions

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§ 55

(1) The Federal Government shall be empowered to adopt, by means of a regulation with the consent of the Federal Council, provisions concerning the procedure to be followed in the application of the original credit and in the recognition of the conversion capacity of those assets. It may also require the use of forms. (2) The Federal Government is also authorized, by means of a legal regulation with the consent of the Federal Council, to lay down rules on the filing of claims arising from debentures of Berlin. to adopt banks to determine the liabilities to be met. Unofficial table of contents

§ 56

The provisions of this Act shall apply as soon as it is due to take over pursuant to Section 13 (1) of the Third Transfer Act of 4 January 1952 (Bundesgesetzbl. I p. 1), together with the supplementary provisions of national law, entered into force in the Land of Berlin. The time limit specified in § 13 (1) of the Third Transfer Act does not need to be complied with in this case. Unofficial table of contents

Section 57

(1) Legal orders issued pursuant to the authorisations contained in this Act shall apply in Berlin (West) pursuant to Section 14 of the Third Transfer Act. (2) Section 35 (3) and Section 50 (2) shall apply in Berlin (West), with the proviso that the Section 11 (1) ... 4 of the Relocation Act and Section 11 (3) of the Second Implementing Regulation to the Conversion Act, paragraph 3 (c) of the Relocation Supplementary Regulation of 20 March 1949 (Regulation sheet for Groß-Berlin Part I, p. 88). Unofficial table of contents

Section 58

This Act shall enter into force on the first day of the second calendar month following the promulgating of this Act in the Federal Law Gazprom.