Advanced Search

Amendments To The Law "on Property Rights Renewal Undertakings And Other Property Objects"

Original Language Title: Grozījumi likumā "Par īpašuma tiesību atjaunošanu uz uzņēmumiem un citiem īpašuma objektiem"

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
Cabinet of Ministers Regulations No. 125 (No. 21, 4. §) Riga 1996 April 10, amendments to the law "On property rights renewal undertakings and other objects of property" in article 81 of the Constitution Issued in order to make the law "on property rights renewal undertakings and other property objects" (the Republic of Latvia Supreme Council and Government Informant, 1993, 14./15.nr.; Latvian journal, 1994, nr. 123) the following amendments: 1. Put the name of the law as follows: "On property rights and recognition to businesses and other property objects".
2. explanation of terms used in the Act: 2.1 Add to the fifth paragraph with the following content: "as well as an application for the restoration of property rights to real estate, submitted to the law" on land reform in the cities of the Republic of Latvia (Republic of Latvia Supreme Council and Government Informant, 1991, 49./50.nr.; Latvian journal, 1994, nr. 47, 145; 1995, nr. 169; 1996, nr. 5) order up to 20 June 1992 and the law "on the privatization of land in rural areas" (the Republic of Latvia Supreme Council and Government Informant, 1992, no. 32; 1993, no. 18; Latvian journal, 1993, no. 130; 148. in 1994, no; 1995, no. 162; 1996, nr. 5) established 1992 to December 31, if requested by the applicant in the application to restore the property rights of nature ".
2.2. express the eighth paragraph by the following: "the company used in this law means the object: the company, hotel, cinema, pharmacies, hospital, or other objects of property (other than property and land), which has been in the composition of the real thing."
3. To make the first part of article 1 in the following wording: "(1) this law shall determine the order in which renewable and recognised the former owners or their heirs the property rights to companies, hotels, cinemas, pharmacies, hospitals and other objects which have been real assets and nationalized or otherwise unlawfully deprive the State or because of the arbitrariness of local authorities (hereinafter" nationalised "). In exceptional cases, the former owner or his heirs to be granted compensation for privatisation certificates or renewable property right to the nationalized companies, hotels, cinemas, pharmacies, hospitals and other property objects, if the company is placed in homes owned by the owner of the company, but homeownership is not included in the company's balance sheet. "
4. Make article 3 by the following: ' article 3. Property restoration and recognition (1) the property rights to the company, the company shall return the former owner or his heirs.
(2) property rights be recognised: 1) when granting the former owner or his heirs a corresponding share capital (the Statute Fund) parts (stocks, shares, shares) incorporated companies for which the transformed business;
2) the grant of a refund for privatisation certificates. "
5. Supplement article 4 with the second, third, fourth and fifth paragraph as follows: "(2) the ownership of the company in accordance with this law or recognised renewable manner in which the former owner or his heirs until 3 December 1994 have expressed their will in an application.
(3) If a former owner or his heirs until 3 December 1994 has not expressed the wish in the application to be recognised for their property rights and compensation granted privatisation certificates, then it is considered that the former owner have expressed a desire to restore or to acknowledge property rights in accordance with article 3 of this law 1 and 2.
(4) If a former owner or his heirs until 3 December 1994 has expressed a desire to restore property rights, but does not wish to redeem the State or municipal ownership in the current organization, then they wish the company to be transformed into incorporated companies, giving the former owner or his heirs according to the share capital.
(5) If a former owner or his heirs until 30 June 1996, has submitted an application for the recognition of rights and the granting of the refund certificates of privatisation of nationalised companies, then no refund shall be granted. "
6. Article 5:6.1. Add to the first paragraph after the words "the right of renewal" by the words "or recognition of the value of the assets of the company and the compensation to be granted the certificate number";
6.2. adding to the first part of paragraph 1 with the following content: "the company (the company) property value calculation and refund the amount of the privatisation certificates establish the privatisation agency;";
6.3. deleting paragraph 2, first subparagraph;
6.4. to make the second and the third part as follows: "(2) the privatisation agency or State property privatization produced a decision on former owner or his heirs ownership of renewal or recognition of the kind adopted the Ministry of economics.
(3) the decision on the manner in which renewable or recognised the former owner or his heirs ownership of the company as well as company (incorporated companies), located in the municipality of the company (incorporated companies), adopted the City Council or district or Parish Council, responsible for the municipal company (incorporated companies). ";
6.5. in the fourth paragraph, replace the words "the second paragraph of article 6" by "article 21, first paragraph, point 6 and 7".
7. Deletion of article 6.
8. in article 7:8.1 put the title as follows: "Čpašum rights restore volume and the amount of the refund";
8.2. to make the first paragraph by the following: "(1) the property rights to the company's renewable immovable and movable property belonging to the assets, and the amount of compensation is determined according to the value at which assets were left over from the second world war, and a fixed asset inventory during the first laws drawn up after 8 May 1945."
8.3. the deletion of the fourth and fifth;
consider the current sixth and seventh part on the fourth and fifth.
9. Article 8:9.1. make the first part of the first paragraph by the following: "(1) the property rights are restored on the basis";
9.2. to supplement the article with the second and third subparagraphs by the following: "(2) to the 1996 December 31 application, submitted in accordance with the procedure laid down in this Act, must be accompanied by all documents that prove ownership or recognition of the validity of the renewal.
(3) State and local government bodies, which have been proceeding for the holder or his heir application for property rights of renewal or recognition, no later than three months before the time limit referred to in this article sent to the applicant with the warning, a document is missing the property rights to renewal or recognition. If the missing documents are not submitted within the time limit specified in this article, the institution shall adopt and review the documents concerning the property rights of renewal or recognition, the application shall not be considered and shall notify in writing the applicant. "
10. Add to article 9 paragraph 4 by the following: "4) State and local government property purchase contract, where property rights are restored, while the redemption of the property of the current owner."
11. To supplement the law with article 9.1 of the following: ' article 9.1. Property restoration, recognition and award of compensation terms (1) of article 5 of this law in the second and third subparagraphs the following State and local government institutions to take the decision on property rights of renewal or recognition within one year from the date of all the required documents proving property rights. After that period of time, the former owner or his heirs shall be entitled to claim ownership of renewal or recognition in court.
(2) this Act article 5, first paragraph, 1 and 3 referred to State and local authorities within six months from the date of the decision on property rights of renewal or recognition, to carry out activities related to the transfer, the granting of the share capital of incorporated companies or the granting of compensation. After this time limit has the right to demand the transfer of the share capital, the allocation of the incorporated companies or the granting of compensation in court.
(3) the time delay institution which restores or recognize property rights, responsible under civil law.
(4) If the person to whom the fault of refurbished or recognized property rights, within six months after the adoption of the relevant decision of the property or the part of the issued share capital of incorporated companies granted is not taken, the State or municipality institution which adopted a decision on property rights of renewal or recognition, has power to amend its decision and grant compensation certificates. "
12. Express article 10 by the following: ' article 10. When the company returned fully to the former owner or his heirs

(1) the company returned to the former owner or his heirs, if they have submitted such an application and also agreed to redeem the State or municipality-owned property and if after the nationalization of the current company assets (assets) value is increased by not more than 55% in comparison with the nationalized company's value or declined compared with the value of the property, to which, in accordance with article 7 of this law, the former owner of renewable or his heirs to property rights.
(2) the company returned when the current company assets (assets) value increased by more than 55% in comparison with the nationalized company's property value, to which, in accordance with article 7 of this law, the former owner of renewable or his heirs to property rights, and can be nationalized companies to distinguish between technological in nature, and the current owner save options to continue the business.
(3) the company returned, even if the current company assets (assets) value increased by more than 55% in comparison with the nationalized company's property value, to which, in accordance with article 7 of this law, the former owner of renewable or his heirs to property rights, but all current company positioned on a plot of land on which the restored former property owner or his heirs, and nationalized the company cannot be separated from current technological company. "
13. Add to article 11 with the new first, second, third, fourth and fifth paragraph as follows: "(1) the company's current owner's property is part of the company's assets, for which the value of the company's current property value exceeds the property value in accordance with article 7 of this law, the former owner of renewable or his heirs to property rights and that company after the nationalization, the Government invested the municipality, person or entity. The company's current assets are to be considered as the company's current owner of the property.
(2) the Person to whom the property rights restored and returned to the former company, are all returned in the current rights and obligations of the company, including the Organization of employment contracts and collective bargaining rights and obligations laid down by the transferee.
(3) a Person who restores the ownership of the former company and which at the same time, the redemption of the whole country or municipality-owned property in the current company, also becomes the current rights and obligations of the company. This person is entitled to use the payment instrument for privatisation certificates. Privatisation certificates can not be used in the company's redemption of funds and liabilities.
(4) If the current company assets (assets) value has increased by more than 55% in comparison with the value of the property, to which, in accordance with article 7 of this law, the former owner of renewable or his heir, and nationalized company it is possible to distinguish between technological in nature, retaining the current holder the opportunity to continue the business, then the person that restores the property rights, without taking over the current rights and obligations of the company.
(5) this law, article 5, first paragraph, point 1 and 3:1) the said institutions shall develop the company's check-in rules, if the person to restore property rights and closed with this person for the current possessor of the goods owned by the redemption contract;
2) by one State-owned property a copy of the contract of purchase Department of the economy. "
consider existing first, second and third respectively on the sixth, seventh and eighth.
14. The deletion of article 12 and 14.
15. Supplement article 15 with the third, fourth and fifth paragraph as follows: "(3) the company will be converted to incorporated companies, even if a former owner or his heirs want to redeem the current owner of the property, while the company's current assets (assets) value has increased by more than 55% in comparison with the value of the property, to which, in accordance with article 7 of this law, the former owner of renewable or his heirs to property rights as well as if the former owner or his heirs have not restored property rights to all land occupied by the current company, and nationalized company it is not possible to distinguish between technological.
(4) all incorporated companies are transformed in the current rights and obligations of the company, including the Organization of employment contracts and collective bargaining rights and obligations laid down by the transferee.
(5) this law article 5 1 and the first part of paragraph 3 of that institution in the development of the privatisation rules, if property rights be recognised by granting the share capital of incorporated companies. "
16. To delete article 18 and 19.
17. Article 21:17.1. to supplement the first part with 4, 5, 6, 7, 8 and 9 of the following paragraph: "4) the composition of the company have not had real estate;
5) under the procedures laid down in the national law of the alienated, privatizēj;
6) State or local government bodies during the period from the date of nationalization 1990 24 October business is atsavinājuš real property against payment to the notarized agreement of the buyer in good faith — physical person — or transferred for consideration, good faith buyer — a legal person which is not a State or local government entity;
7) former owner or his heirs applied after the adoption of the Cabinet decision on the transfer of the property object to privatization, which concerned the composition of the company, and has approved the privatization (privatization);
8) had contracted for checked-in enterprise, or part of lease purchase. In this case, the State or the local Government must reimburse the former owner or his heirs all received the redemption fee payment for the same products under the redemption fee were received;
9) had contracted for the redesigned enterprise, or part of lease purchase. In this case, the State or the local Government must reimburse the former owner or his heirs received the redemption fee, which is proportional to the former owner or his heirs for part of the share capital of incorporated companies (Fund of the Statute), the same method of payment, which received the redemption fee. ";
17.2. the second part be expressed (1) by the following: "1) company had died because of hostilities during the second world war or movable property during the period from 22 June 1941 to 9 May 1945 the Soviet Union revoked or the German authorities or officials;"
17.3. to make the third and fourth subparagraph by the following: "(3) if the business is currently doing a public company according to the law" On business "(the Republic of Latvia Supreme Council and Government Informant, 1990, no. 42; in 1991, 27/28.nr.; 1992, 22/23.nr.; in 1993, 3/4, 12/13, 18/19, 20/21, 22/23.nr.; Latvian journal, 1994, 29., no. 77; in 1995, 59.177. no), is only allowed public companies, the Cabinet Office has the right to a former owner or his heirs do not give back to the company but to grant compensation.
(4) compensation to the former owner or his heirs to be granted under the law on privatisation certificates "(the Republic of Latvia Supreme Council and Government Informant, 1992, 46./47./48.nr.) and this Act.";
17.4. to make sixth as follows: "(6) if the possessor of the company is the first part of this article 6 and 7 referred to the natural or legal person, the decision on the grant of the refund certificates of privatisation assumes the economy Ministry, but privatization certificate quantity is determined by the privatisation Agency.";
17.5. to delete the seventh part.
18. To delete article 22.
19. The deletion of article 23, second paragraph, the words "(a)" and "State property Fund".
Prime Minister a. slice traffic Minister v. krištopans