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Law No. 2 Of 6 July 1979 Amending And Completing Law No. Finances 9/1972

Original Language Title:  LEGE nr. 2 din 6 iulie 1979 pentru modificarea şi completarea Legii finanţelor nr. 9/1972

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LEGE No. 2 of 6 July 1979 to amend and supplement Finance Law no. 9/1972
ISSUER GREAT NATIONAL ASSEMBLY
Published in OFFICIAL BULLETIN NO. 59 of 13 July 1979



The Great National Assembly of the Socialist Republic of Romania adopts this law. + Article I Finance Law no. 9, published in the Official Bulletin of the Socialist Republic of Romania no. 136 of 26 November 1972, is amended and completed with the following contents: + FINANCE LAW The sustained and multilateral development of the entire national economy, based on the Romanian Communist Party Program for the development of the multilateral socialist society developed and Romania's advance towards communism, requires the continuous improvement of the economic and financial management and planning, raising on a higher level of efficiency in all areas of activity. In these circumstances substantially increase the role and functions of finances, of the entire economic-financial mechanism in ensuring the continuous progress of the national economy, stimulating the growth of material production, optimal determination of proportions and economic growth rhythms, financial, monetary and currency balance, judicious distribution of national income for national economic and social development fund and consumer fund, as well as in raising living standards all the people In the process of developing and fulfilling the single national plan, the state budget, the revenue and expenditure budgets, the Ministry of Finance, the banks, the ministries, the other central and local bodies, the collective management bodies in the units economic, all working people must act systematically for every socialist unit to operate under the conditions of a high economic efficiency, to ensure full use and with increased efficiency of material means and money, the achievement of order and discipline in their use, the reduction material expenditure and increased net production, promotion of technical progress, increased labour productivity, judicious use of investment funds, increased efficiency of export and economic cooperation actions, and International technical-scientific. + Chapter 1 Objectives and basic principles of finance + Article 1 (1) Finances actively participate in the achievement of the policy of the Romanian Communist Party of economic and social development of the country and of raising the material and spiritual living standards of the people. (2) The finances shall ensure the establishment, distribution and planned use of funds of the company for the sustained enhancement of material production, the increase of the production forces, the wide promotion of the activity of scientific research, technological development and introduction of technical progress, development of education, culture, health protection. ((3) Finances contribute to the elaboration and realization of the single national plan, to the proper functioning of the economic and social mechanism and to the achievement of the self-management of workers, the economic and financial self-management of the units. + Article 2 (1) The general and permanent control over the conduct of the social production process shall be exercised by means of finances, in order to achieve an economic and social efficiency as high as possible in all fields of activity and management more judicious of the material and money means available to society. (2) The economic and financial pirghia must stimulate the development of production and sale, service supplies, export, increase of the competitiveness of Romanian products on the foreign market, use with superior results of the means materials and money available to society, speeding up the speed of rotation of funds, obtaining as high yields as possible with lower consumption of social work and, on this basis, the systematic increase of national income. + Article 3 In the achievement of economic and financial policy, the harmonious and balanced development of the national economy, finances have the task of ensuring, within the general economic balance, the preservation of financial, monetary and currency balance, to contribute to strengthen and increase the purchasing power of the national currency, both domestically and against other currencies. + Article 4 (1) The economic units shall be obliged to cover the expenses on their own incomes and to return, within a short period, the funds received, according to the principle that the amounts advanced by the company must be returned. (2) Each economic unit, on the basis of the results obtained, must contribute to the formation of the general funds necessary for the company, to constitute its funds for its own development, as well as the funds for material the collective of working people, corresponding to the program of increasing the standard of living established by the party and the state. + Article 5 (1) The economic units of the state industry are obliged to pay to the state budget a part of the new value created in the form of taking part of the net production value for the company. (2) The consideration for the company of a part of the net production value is the contribution of each state economic unit to the formation of funds necessary for the general development of the company (3) The relevance for the company of a part of the net production value shall be calculated on the total economic unit, by applying a percentage share of the net production value determined according to the law and shall be borne directly from the results financial. + Article 6 According to the principles of democratic centralism and economic and financial self-management of the units, the economic and financial policy ensures both the concentration and the direction of financial resources towards the achievement of the fundamental objectives of the economic and social development of the country, as well as the increase of the initiative, responsibility and decision-making power and action of the collective management bodies of the socialist units in the use of the part of the national wealth entrusted to them administration. + Article 7 Financial relations, as well as monetary circulation, are planned, on the basis of a unitary system of financial plans, which includes the income and expenditure budget of socialist units and financial plans at the level of the economy national. + Article 8 (1) The own funds of the socialist units, as well as any other funds, shall be used only in accordance with the provisions of the single national economic and social development plan and of the revenue and expenditure budget and in compliance with the rules and regulations established according to the legal provisions. (2) No expenditure, regardless of the funds from which it is borne, shall be approved and shall not be carried out if it has not been approved, in advance, according to the law, by the head of the financial-accounting department or other persons responsible for the exercise of preventive financial control from socialist units, as well as other bodies with such powers from the economy. + Article 9 (1) The collectives of working people from each socialist unit are responsible for the proper management of the material and money means, of carrying out with the maximum efficiency of the entire activity, in order to obtain superior economic and financial results by increasing production, increasing labour productivity, continuously reducing material expenditure. (2) The collective management bodies of the socialist units shall be responsible for the efficient use of the funds entrusted by the company to these units and those of their own, by making the necessary income for the return of funds advanced by society, the payment of the amounts due to the state budget or the higher hierarchical body, the establishment of own funds, the realization of the planned currency resources, as well as the judicious administration and the maximum valorization of all material and money resources. (2) The socialist units have the obligation to ensure strict records and rigorous and systematic control over all material and money means, economic processes and results obtained. + Chapter 2 Training and distribution of funds in the national economy + Section I National Economic and Social Development Fund and Consumer Fund + Article 10 (1) In the Socialist Republic of Romania the national income, with new value created in industry, agriculture, construction, transport and other fields, is the basic source of money funds that are constituted in the economy. (2) The national income shall be assigned to the national economic and social development fund of the country and to the consumer fund. + Article 11 The national fund for economic and social development in monetary expression is made up of a unified and correlated system of funds, of which they belong: a) the central economic and social development fund; b) the local economic and social development fund constituted at the administrative-territorial units: counties, municipalities, cities and communes; c) own funds of economic and social development of state economic units: enterprises and plants; d) own funds of economic and social development of the units of agricultural, craft and consumer cooperation, as well as of the other public organizations; e) the funds used by the population for housing and household construction, the increase of production and livestock, as well as for other goods with similar destinations. + Article 12 (1) The Central Fund for Economic and Social Development is formed within the Republican budget, from its revenues. (2) The local economic and social development fund constituted at the administrative-territorial units is formed within the budgets of the counties, municipalities, towns and communes of: their incomes, from resources outside the state budget, coming from socialist units, as well as from the monetary contribution of the population, according to the legal provisions. + Article 13 The central fund and the local economic and social development fund are used, according to the provisions of the single national plan and the state budget, to the state socialist units, to finance investments and circulating means, state reserves, other actions and economic objectives, the development of the material base of state social-cultural units and state bodies, as well as for other purposes provided by legal provisions. + Article 14 The consumer fund returns to working people and their family members, under the law, in the following ways: retribution by quantity, quality and social importance of work, participation in benefits and social retribution from budget funds state or from the own funds of socialist units. + Section II Own funds of state economic units + Article 15 (1) The own funds of the state economic units shall be on account of the benefit, depreciation of fixed funds and other resources established by law. ((2) The beneficiary is the part of the new value created in the productive activity of the economic units, constituted after the distribution of the following elements: the collection for the company of a part of the net production value; worker and other rights of the worker; research expenses and for the introduction of new technique; tax on the total retribution fund; contribution for social security; other expenditure on living work. (3) The sampling rates of the net production value and the arrangements for the payment of the levy shall be determined by decree of the State Council. (4) Fixed funds are subject to depreciation in order to ensure their reproduction, to stimulate their use with increased economic efficiency, as well as to promote sustained technical progress and increase the productivity of social work. (5) Training, planning, destination and payment of the benefit and amortization of fixed funds shall be established according to the law. + Article 16 (1) The own funds of economic and social development of the state economic units shall be formed and used, under the law, distinctly and shall be as follows: A. At enterprises: a) the economic development fund; b) the fund of circulating means; c) the fund for housing construction and other social investments. B. Central: a) fund to finance investments in new enterprises and to finance important developments; b) the reserve fund for the circulating means. (2) In the case of enterprises directly subordinated to the ministries, the other central and local bodies of the state administration, the funds provided for the plants at lit. a) and b) are constituted at the level of the higher hierarchical bodies of these enterprises + Article 17 For the participation of working people in benefits, as well as for the provision of part of the social retribution from own resources, the State enterprises shall constitute the following funds: a) the fund for participation of working people in benefits; b) the fund for social actions. + Article 18 Enterprises may also constitute, separately from the funds provided for in art. 16 16 and 17, the following own funds: a) fund for scientific research, technological development and introduction of technical progress; b) the labor protection fund; c) other funds provided by legal provisions. + Article 19 The provisions of this law relating to the own funds of the enterprise shall also apply accordingly to industrial plants and units assimilated to them for their own activity. + Article 20 (1) The economic development fund of the enterprise shall be constituted within the limits of its investment expenditure, established on the basis of the annual provisions of the single national plan and the revenue and expenditure budget-with the exception of developments important provided by law and housing construction and other social investments-as well as the due rates of bank loans received to finance investments, including their related interests. (2) The training sources of this fund are: depreciation of fixed funds remaining after the return of funds received from the company for investments, other resources for financing investments such as those from the valorization of materials, parts and aggregates resulting from the removal from operation of fixed funds, after deducting the related expenses, as well as the benefits made under the plan and over the plan, under the conditions provided by law. + Article 21 The fund of the company's circulating means is from the benefits realized under the plan and from other resources, under the conditions provided by law, within the limit of a quota of the planned annual increase of the total circulating means established with the state budget and the rates to be returned to the state budget from the amounts received by new enterprises to cover the need for circulating means in the first year of activity. + Article 22 (1) The housing and other social investment fund shall be subject to expenditure on these objectives, determined on the basis of the annual provisions of the single national plan and the revenue and expenditure budget and the rates due to the bank loans received in addition, including their related interest. ((2) The sources of formation of this fund are: depreciation related to dwellings and other fixed funds of a social nature, the amounts resulting from the valorization of fixed funds with a social character removed from operation, incomes made from manifestations cultural in a quota established by the council of working people, the benefits made under the plan and over the plan and from other income, under the conditions provided by law. (3) The housing and other social investment fund is used for the construction of housing for the working staff, as well as for the construction and equipping of workers ' homes, nurseries, kindergartens, cantinelor-restaurant, clubs, and the realization of other social investments. + Article 23 (1) The plant's own fund to finance investments at new units with legal personality, including housing and other social investments for these units, as well as for the financing of developments important to subordinate enterprises, which are in operation, established distinctly in the single national plan according to Annex no. 1 to this law, it is constituted within the limits of financing needs, established according to the plan and legal provisions. ((2) The sources of formation of this fund are: the depreciation part of fixed funds taken from enterprises, including the depreciation difference remaining after the establishment of the company's own development funds, payments from the benefits enterprises in subordination for the restitution of funds received from the company for the financing of investments, other resources provided by law, amounts from the state budget. + Article 24 ((1) The availability at the end of the year from the economic development fund of the enterprise and from the investment fund constituted at the plant or the assimilated units, derived from the own resources of the economic units, shall be used the following year to fund retained investments, according to the law. The unused difference, as well as that from the depreciation left after the establishment of the plant's own investment fund, flows to the state budget. (2) The amounts remaining unconsumed at the end of the year of the plan to the housing construction fund and other social investments from own resources shall be carried over to the next year with the same destination, according to the provisions of the plan. + Article 25 The reserve fund for the circulating means at the plants shall be formed by taking a 0.5 percent share of the annual growth of the circulating means fund constituted by the subordinate undertakings and shall be used for temporary completion of the necessities of circulating means of undertakings in subordination and other expenses provided by law. + Article 26 (1) State enterprises are obliged to refund the funds received for the financing of investments, as well as those for covering the need for circulating means at new enterprises in the first year of activity. (2) For new undertakings, the obligation to repay the amounts received for the financing of investments shall begin in the year following the implementation of those investment objectives. ((3) The refund of the amounts received for the financing of investments shall be made from the depreciation of fixed funds and from the planned benefits, in the quotas provided by law, in so far as the obligation of restitution cannot be covered in the plan year of Depreciation of fixed funds. The varsages shall be carried out at the plant and shall be used for the establishment of the investment fund. (4) The advanced amounts from the state budget for the coverage of the necessary means of new enterprises, in the first year of activity, shall be returned within the deadlines established according to the law by payments to the state budget, after the operation of the respective unit, from the background of circulating means. + Article 27 (. Each economic unit shall carry out a profitable activity. (2) For insurance and development activities of the raw materials supply base, as well as for special activities provided by law, the State may exceptionally grant subsidies from the budget to units which by plan cannot cover their own funds. fully the expenses of own income. Funds from the budget are also granted for works of geological prospections and research approved by the single national plan, as well as for carrying out complex research of general interest approved according to the law. (3) The units for which subsidies are granted from the budget are approved annually with the state budget. (4) At economic units that do not cover their own income expenses, other than those provided in par. ((2), the special economic and financial supervision regime established by this law shall apply. + Section III Own funds of cooperative and public units + Article 28 (1) The own funds of economic and social development of the units of agricultural, craft and consumer cooperatives and other public organizations are as follows: a) the economic development fund; b) the fund of circulating means. (2) The handicraft and consumer cooperatives are also the fund for housing and other social investments. (3) The funds provided in par. (1) shall be constituted of the benefits achieved, the depreciation of fixed funds and other own resources. (4) At the units of agricultural, craft and consumer cooperation, the economic development fund is also constituted by the amounts in money that can be deposited annually by each cooperator, which represents the social part in its property from the value Obstesti property. (5) Also, mechanisators and agricultural specialists, who work in agricultural production cooperatives, can submit annually a sum of money to the cooperative economic development fund, under the same conditions and benefit from the same rights like the co-op members. + Article 29 For the participation of working people in benefits, as well as for the provision of a part of the social retribution from own resources, the cooperative and public units constitute the following funds: A. Units of agricultural, craft and consumer cooperation: a) the fund to participate in the benefits of cooperators and staff with employment contract; b) the fund to participate in benefits for the social part, constituted by the money deposits of the cooperators; c) the fund for cultural and sports actions; d) other funds for social actions. B. Inter-cooperative economic associations: a) the fund for participation of working people in benefits; b) social-cultural and sports fund. C. Associations of agricultural production cooperatives with state units or consumer cooperatives: -the fund to participate in the benefits of working people. + Article 30 Units of agricultural cooperation, besides the funds provided in art. 28 and 29, the following own funds shall be the following: A. Agricultural production cooperatives: a) the reserve fund for production and retribution of work; b) the intercooperative fund of aid and consolidation. B. Inter-cooperative economic associations: a) the aid and reserve fund; b) shares due to the associated cooperatives. C. Associations of agricultural production cooperatives with state units or consumer cooperatives: a) the reserve fund; b) the insurance fund; c) quotas-parts due to the associated units. + Article 31 The way of establishing and using the funds provided in art. 28, 29 and 30 shall be established by the statutes of the cooperative and public organizations. + Chapter 3 Revenue and expenditure budget and other financial plans. Evidence of national wealth + Section I Revenue and expenditure budget and other financial plans + Article 32 (1) The management of the financial activity, on all the organizational steps of the national economy, is carried out on the basis of the revenue and expenditure budget and the other financial plans, constituted in a unitary system. (. The financial plans shall include: a) revenue and expenditure budget of: enterprises; plants; social-cultural institutions and administration; ministries and other central bodies; communal, city, municipal and county folk councils; organizations cooperatist and obstesti; b) the state budget, composed of: the Republican budget, the local budgets of communes, cities, municipalities, counties, sectors of Bucharest and Bucharest; c) the house plan; d) credit plans; e) balance of incomes and money expenditures of the population; f) external balance of payments; g) the centralized financial plan; h) financial plan in territorial aspect of the counties and the city of Bucharest. + Article 33 Money relations in the economy that are reflected in the revenue and expenditure budget and in the other financial plans are expressed through a system of indicators. The financial indicators for the 5-year period are approved by the law adopting the five-year plan, and annually by the state budget adoption law. + Article 34 The revenue and expenditure budget and the other financial plans shall be drawn up according to the principles and criteria contained in the Law on the planned economic and social development of Romania, as well as the provisions of this law. + Article 35 (1) The revenue and expenditure budget and the other financial plans may be modified only in cases where there are changes in economic plans, prices and tariffs, units, shares or tasks between the holders of the plan or between the units subordinated to them, and in other duly justified cases, according to the legal provisions. (2) The changes in financial indicators for expired periods are prohibited, apart from the specific cases authorized by legal provisions. (3) The tasks of the financial indicators plan may only be modified by the approved bodies. + Article 36 (1) The revenue and expenditure budget shall be drawn up in connection with the economic indicators and shall include: a) to the enterprise: the income, expenses and financial results from its activity, the proceeds from the foreign trade activity, the own funds that are made available to it, the bank loans, the payments to the state budget, other revenue, resources and expenditure; b) at the plant: income, expenses and other financial indicators relating to the activity of own and that of enterprises in subordination, as well as the funds that are made available to him; c) to ministries, other central bodies and folk councils: financial indicators of their own activity, as well as those of economic units and institutions in subordination and, as the case may be, of subordinate administrative-territorial units. ((2) Manufacture, plant, construction site groups, holdings and other units which distinctly highlight and track the results of their economic activity, respectively have separate accounts, draw up revenue and expenditure budget, which is part of the an integral part of the budget of the undertaking or plant to which it belongs and comprises the revenue, expenditure and financial results of (3) The revenue and expenditure budget of the enterprise shall be integrated into the system of revenue and expenditure budgets that are drawn up at the level of the central, ministry or other central or local body, in accordance with the single national plan, the state budget, credit plans and the centralised financial plan, in order to ensure the financial balance of the national economy. + Article 37 The revenue and expenditure budget shall be drawn up by the collective management body of each socialist unit, on the basis of the plan indicators and shall be adopted, according to the law, by the general assembly of working people, which also establishes the measures what is required to achieve it. + Article 38 The state budget includes the centralized revenues of the state and their distribution in accordance with the objectives of the single national plan, to finance the development of the national economy, social-cultural actions, defense of the country and other needs of society. + Article 39 The house plan establishes cash receipts and payments, the task of putting into circulation or withdrawing cash, keeping cash circulation in cash within normal limits, ensuring the correlation between the population's money income and the fund goods and services, corresponding to the real needs of the economy. + Article 40 The loan plans set out the volume of credits needed for the development of goods production, services and circulation, the realization of investment objectives at socialist units for certain needs of the population, as well as the resources of Cover. + Article 41 (1) The short term loan plan and the house plan shall be elaborated by the National Bank of the Socialist Republic of Romania and the specialized banks, together with the State Planning Committee, the Ministry of Finance, the ministries, the other bodies central and executive committees of the county folk councils and the city of Bucharest and are approved by decree. (2) The medium-and long-term loan plan shall be drawn up by the Ministry of Finance, together with the banks and the State Planning Committee, and shall be approved with the holding of the indicators of the single national plan and the budget of stat. (3) The house and credit plans shall be drawn up in correlation with the provisions of the single national plan and the state budget and on the basis of the revenue and expenditure budget of the enterprises, plants, ministries and other central bodies and local. + Article 42 The balance of income and money expenditures of the population, through which the monetary balance is based, is elaborated with the single five-year and annual national plan, by the State Planning Committee, the Ministry of Finance, the National Bank of The Socialist Republic of Romania and the other banks, together with the ministries and other central and local bodies. + Article 43 The external balance of payments includes the receipts and payments in foreign currency from the export-import and international economic cooperation activity, from the international tourism activity, international services, from the foreign credits received and granted, from non-commercial operations and other actions in relations with abroad. + Article 44 (1) The centralized financial plan includes the financial resources of the national economy and their destination, by sectors and fields of activity, by branches of the national economy and is the main financial balance of the economy, having an active role in the foundation of the single national plan and in ensuring financial balance. (2) The centralized financial plan shall be drawn up by the Ministry of Finance and the State Planning Committee in accordance with the other sections of the single national plan. (3) The Ministry of Finance, together with the banks, ministries and other central and local bodies, shall take measures to achieve in good conditions the centralized financial plan and shall be responsible for its execution. + Article 45 The financial plan in territorial aspect includes the financial indicators on enterprises and institutions regardless of their subordination, from the territory of each county and the city of Bucharest. + Section II Evidence of national wealth + Article 46 The record of the national wealth ensures the knowledge of the situation of all the material goods available to the company and the other components of the national wealth, in order to manage them as efficiently as possible, both on the economy national, as well as at the level of each ministry, of the other central and local bodies, economic or social-cultural units, on each of their production and activity. + Article 47 (1) The main object of the national wealth record is the goods that are in the unitary fund of the state property, the assets of the cooperative organizations and other public organizations, the receivables, from the country and abroad, the goods of Long use of population. (2) The records of the national wealth shall be carried out in monetary expression and shall be ensured on the basis of accounting and statistical data, of periodical inventories of goods belonging to socialist units, censuses, selective investigations and other investigations with economic and social character. + Article 48 The collective governing bodies of ministries, other central and local bodies, economic units and institutions are obliged to organize and lead the strict record of the patrimony of each socialist unit with the help of accounting, concludes accounting balance sheets and periodically carry out the inventory of all material and money means, rights and obligations, according to the legal provisions. + Chapter 4 Financing and lending of production, movement of goods and investments + Section I General provisions + Article 49 (1) The circulating means are made up of raw materials and materials, fuels, manufacturing in the course of manufacture, semi-finished products, finished products, goods, as well as from other values, established by legal provisions. (2) The total need for circulating means shall be determined by the revenue and expenditure budget, on the basis of stocks and other expenses of the nature of the circulating means, dimensioned according to the plan tasks, the stock rules and the norms of Circulating means. Economic units may constitute, temporarily, seasonal stocks, stocks reserve by the plan, according to material balances, and other stocks, established by legal provisions. (3) The criteria for the elaboration of the stock rules and the norms of the circulating means shall be established by the Council of Ministers. (4) Ministries, other central and local bodies and economic units have the obligation to ensure optimal sizing of the needs of circulating means and rational use of material and monetary funds. The Ministry of Finance and the banks shall verify, when drawing up the revenue and expenditure budget, how to determine the maximum level of material values and the expenses of the nature of the circulating means, as well as their coverage resources. + Article 50 Investments are carried out according to the provisions of the single national plan for economic and social development, within the limits of the funds provided for in the revenue and expenditure budget and on the basis of the technical-economic documentation Investments must materialize, as a priority, in productive objectives, to be thoroughly prepared and realized by adopting the latest and perfected technological and constructive solutions, with reduced costs, in a short term, be based on the foundation of ensuring the domestic and export production of production, obtaining a corresponding currency contribution and improved economic and financial indicators towards those who are carried out at the production capacities similar existence, also taking into account the technical and economic evolution in perspective. + Article 51 (1) The financing of the circulating means of the socialist economic units in operation shall be provided from the funds of the circulating means and other temporary resources at their disposal, according to the law. (2) The coverage of the necessary means of new state economic units, in the first year of activity, shall be ensured from the state budget. (3) The financing of investments of the state economic units shall be ensured from the economic development fund, the housing and other social investments fund and the fund's own fund for the financing of investments, in the conditions provided by law. (4) In addition to the funds provided in par. ((1) and (3) undertakings may receive bank loans. ((5) The crediting of the circulating means shall be made for up to 12 months; over this period, credits may be granted for products with a production cycle of more than one year, for the expenses of organization of construction sites, as well as in other cases provided by law. ((6) The crediting of investments of socialist units is made in the term of up to 15 years; in agriculture this term can be up to 25 years. + Article 52 Credit relations are organized by the state in the form of direct bank lending. Money loans between socialist units, outside the cases provided by law, are prohibited. + Article 53 The bank loan has a planned character, is granted for precise destinations, must be guaranteed with material values, with financial resources provided in the revenue and expenditure budget of the economic units to be carried out in future periods, or in other conditions established by legal provisions and must be repaid at maturity. + Article 54 ((1) Credits shall be granted to state, cooperative and public economic units, organized on the principle of economic and financial self-management and having legal personality. ((2) Banks may grant loans and units with economic and financial self-management without legal personality, authorized to contract credits by the unit to which they belong and which is responsible for the use and restitution of term loans. (3) Banks may grant credits to other units, as well as to individuals, under the conditions provided by law. + Article 55 ((1) Banks shall grant credits within the credit plan. Over the approved volume, credits can be granted only for new plan tasks and plan overruns, under the conditions provided by the legal provisions. ((. Credits shall be granted to units within the approved ceilings. + Article 56 (1) The economic units pay the interest banks, for the credits received and commissions and fees, for the services provided to them by the banks. (2) The socialist units receive interest for the money available in their bank accounts. (3) The interest, commissions and fees shall be determined by decree of the State Council. + Article 57 (1) Credit relations between banks and economic units shall be established on the basis of contracts, which include the volume of loans to be granted according to the legal provisions, the conditions for granting and repayment of loans, the level of interests, obligations and liabilities of economic units. ((2) The loans shall be approved by the banks, based on the analysis carried out, in advance, on the economic and financial situation of the credit unit and of ensuring the repayment of the term loans. If conditions are not provided for the repayment of loans, banks shall approve the credits only if the credit agreements are signed by the plants or ministries to which the units in question are directly subordinated and shall be drawn up programs of measures to improve the economic and financial activity of these units. Banks may refuse to grant loans if the schedule of measures drawn up does not ensure the reimbursement of + Article 58 In cases where credit beneficiaries do not comply with the credit destination and other conditions in credit agreements, banks have the right to stop lending, referring to the higher hierarchical body in order to take measures for entry into legality and sanctioning of the guilty. + Article 59 The material values that constitute the loan guarantee remain in the debtor's possession, and it returns its legal obligations regarding the rational use and their good preservation. + Article 60 (1) The banks shall refuse to grant the credits requested by the economic units in cases where the products that are executed do not have the sale provided by domestic or export contracts according to the destination established by the plan. (2) The banks will also refuse to grant loans for products that do not have established legal prices, investments and construction-assembly works that are not foreseen in the plan or have not ensured the legal conditions of execution, as well as in cases where conditions of efficient use of funds are not created. + Article 61 (1) Stocks of non-utilised material values and non-marketable hard-selling goods within the time limits established by the programmes of measures drawn up by economic units, stopped or unlawful orders, stocks of products without an insured sale, without approved or improperly qualitative prices, the material values stored and preserved in improper conditions, as well as the works without insured financing, cannot form the object of the credit guarantee. (2) Current credits related to such material values, as well as those left without a guarantee, become chargeable and shall be passed on loans at maturity according to their finding. Economic units, with the support of higher hierarchical and banking bodies, have the obligation to take measures to capitalize on these stocks and return the loans received (3) It shall be prohibited for banks to maintain at the current lending the supplies and other expenses related to the production without sale. (4) Banks are obliged to control at economic units the use of credits according to the destination, the existence of material guarantees, compliance with the conditions established by credit agreements, as well as the way in which economic units act to carry out the tasks of the plan and comply with financial discipline + Section II Crediting the production and circulation of amp; 1. Crediting of industry, construction, transport, telecommunications, other service provision, movement of goods, as well as research, design and technological engineering + Article 62 On the basis of the credit plan and the revenue and expenditure budget, the banks may, as the case may be, grant state and cooperative economic units, credit for: a) making supplies for domestic or export-contracted production and the expenses necessary for carrying out the tasks of the plan; b) seasonal stocks and expenses, formed as a result of the purchase, contracting and processing of agricultural raw materials and other products; c) the reunification of funds incorporated in delivered products, executed works and services provided, in the process of collection; d) coverage of planned expenditures that exceed in some quarters the revenues, including for the introduction of new technique; e) stocks of products, goods, packaging and other assets, at the manufacturing, goods, tourism and technical-material supply units; f) making sales of goods, works of works and provision of payment services in installments, within the time limits provided by law; g) "service" activity, goods sent to samples, tests, warehouses or consignment abroad and exhibits at international fairs or exhibitions, for a maximum period of 12 months; h) other destinations provided by legal provisions. + Article 63 Banks can give economic units of technical-material supply and sale of goods, tourism and hotel, to those who supply and process agricultural raw materials, as well as to those of collection and purchases, credits as carrying out supplies and production or circulation expenses, provided that the goods and products concerned have the disposal provided by contracts or to the population and fall within the quarter of the stocks and planned expenditure, except for agricultural products. + Article 64 (1) The terms of repayment of credits shall be established taking into account the movement of material values, the recovery of expenses and the provisions of the revenue and expenditure budget, within the limits stipulated by the law. Economic units are obliged to reimburse the loans at the time limits stipulated in the credit agreements. (2) In economically justified cases, banks will be able to approve, on the basis of thorough analyses, the extension of the deadlines for the repayment of current loans only once a year for each credit, within the deadlines provided in art. 51 51 para. (5) increasing interest, under the law. + Article 65 ((1) Banks may grant to economic units which have temporary financial hardship due to objective causes loans for temporary needs with current interest, during the period necessary to remove the causes that determined the respective needs of funds, without Over 90 days. ((2) Such credits may be granted for the technical-material supply in order to fulfill the economic contracts, for the production in the course of manufacture, finished products and goods, within the limits and under the conditions established by the Ministry of Finance and bank plants. + Article 66 (1) In cases where, in some periods, the economic units are unable to make payments due from their own funds, from the receipts and from the approved current loans, the banks may grant loans for the restoration of the payment capacity, with interest increased, for the payment of supplies, executed works and services provided by third parties, carried out under appropriate conditions and according to the plan and economic contracts. ((2) Such credits shall be granted at the request of the economic units, based on the analyses made together with the banking bodies, on terms of no more than 6 months, and in justified cases, with the approval of the bank's plant up to 12 months, established according to the measures to which the economic unit is committed to remove the causes and restore balance between receipts and payments. ((3) The loans for the restoration of the payment capacity shall be reimbursed as the causes have been removed which have caused the lack of balance between receipts and payments and at the latest by the maturities established with the bank. (4) The governing bodies of the plants, ministries, other central bodies and executive committees of the popular councils shall be obliged to ensure the removal of the causes which have caused the planned needs to be removed during the lending period. of funds. + Article 67 (1) In the case of economic units that have benefited from the credits provided in art. 65 and 66 and still remain in default, for a period of more than 60 days, the financing banks will establish prior control over the company's payments, with the right to refuse to make those payments that violate the rules on judicious management of material and monetary means, plan and financial discipline and will introduce settlement tools for the respective unit, conditioned by the prior existence of payment availabilities. ((2) At the same time, the banks, together with the superior hierarchical body of the enterprises concerned, will analyze their economic and financial situation and propose or determine economic-financial measures aimed at leading to the recovery of the activity. + Article 68 (1) The situation of economic units that frequently immobilize their circulating means and are not able to repay the loans received shall be analyzed, on the proposal of the banks and together with them, by the heads of the units respective, of the plants, ministries, other central or local bodies, with the support of the Central Council of Workers ' Control of Economic and Social Activity, the Higher Court of Financial Control, the State Planning Committee, Ministry of Finance, Ministry of Technical Supply and Materials Control of Fixed Funds Management, Ministry of Foreign Trade and International Economic Cooperation. (2) The results of the analyses are debated in the councils of the working people in the respective units, establishing effective measures to improve the organization of the supply, production and sale process, reduce costs and improve the quality of the products, the orientation of production to products with an assured outlet, as well as for compliance with the plan, contractual and financial discipline On the basis of the analyses carried out and the debates on the boards of working people, the management of the ministry, the central or local body has the obligation to establish, with the opinion of the financing bank, measures for the recovery Unity. The Ministry of Finance together with the Central Board of Workers ' Control of Economic and Social Activity and the Superior Court of Financial Control are obliged to support and control how to achieve the established measures. (3) In particular situations, the higher hierarchical bodies will delegate, among their managers, a permanent power of attorney to the respective economic unit to ensure and support directly the application of recovery measures economic and financial. (4) The banks will notify the main suppliers of the economic units concerned about their economic and financial situation, following that the deliveries of goods, works and service supplies should be carried out by suppliers only on the basis of bank settlement instruments stating, in advance, the existence of payment possibilities. + Article 69 (1) If, after the application of the measures provided for in art. 65-68, the economic units do not recover their economic and financial situation, when serious deviations from the funds management norms were found, as well as in the cases provided by art. 27 27 para. ((4), the special regime of economic and financial supervision of the activity of the respective unit is established (2) The proposal for the establishment of the special economic and financial supervision regime shall be made by the Central Board of Workers ' Control of Economic and Social Activity, the Superior Court of Financial Control and the Ministry of Finance and shall be approved by the Council of Ministers. (3) During the special economic and financial supervision regime, an economic and financial supervisory board shall be established the activity of the enterprise consisting of the authorized ministry, the banks, the Central Board of Control Working-class of Economic and Social Activity, Ministry of Finance, State Planning Committee and Ministry of Technical-Materials and Management Control of Fixed Funds, as well as representatives of working people from that unit. At the major industrial units on the supervisory board are also members of the Superior Court of Financial Control. (4) The composition of the supervisory board, as well as the duration of the special economic and financial supervision regime, shall be approved by decision of the Council of Ministers. + Article 70 (1) The economic and financial supervisory board shall analyze the causes of the improper activity of the enterprise and shall establish measures to recover the economic and financial activity that are mandatory for its management. (2) The established measures will be discussed in the general assembly of working people, who must ensure the mobilization of the entire collective of work to improve the production activity, good management of material and financial means, strengthening order and discipline, timely and in the best conditions of all the tasks of the unit. (3) The Labour Council has the obligation to carry out all the measures laid down. (4) The Council of Labor People, together with the economic and financial supervisory board, shall bear responsibility for the recovery of the economic and financial situation of the (5) On the basis of the analyses carried out, the economic and financial supervisory board shall establish the responsibility of the persons who If it is found that the unsatisfactory situation of the economic unit is determined by how the director or other persons in the management of the unit acted, it may be proposed to dismiss them, as well as the prohibition to occupy on time limited management functions. (6) After the establishment of the special economic-financial supervision regime the bank resumes the current lending of the respective unit for its activity, according to the plan and contracts. (7) During the period of application of the special economic-financial supervision regime, the plants, ministries and other central and local hierarchical bodies shall be obliged to take appropriate measures to ensure improvement the economic and financial activity of the enterprise, the orientation of the production to products with an assured sale, the judicious use of material means and labor. amp; 2. Crediting of state agricultural units + Article 71 The Bank for Agriculture and Food Industry grants state agricultural enterprises, economic associations between state and cooperative units and resorts for agricultural mechanization, in addition to their own funds, credits for the establishment of seed stocks, feedingstuffs, fertilisers, fuels, materials and materials, spare parts and other stocks, the establishment of livestock as well as expenditure necessary for production, according to the provisions of the budget of revenue and expenditure and of the production plan of each unit economic. + Article 72 ((1) The loans shall be granted on the basis of the loan plan and the credit agreement up to the level of the stocks and the planned production expenses, provided that they are fully guaranteed with material values and with the obligation to realize the incomes, which ensure full term reimbursement. (2) The loans granted shall be reimbursed at the time limits for obtaining and capitalizing on the production. + Article 73 (1) The bank may grant loans for expenses related to the resowing of calamity areas, additional fertilization of crops, liquidation of balances and other actions to eliminate the negative effects caused by natural factors, state agricultural enterprises and economic associations between state and cooperative units, which take measures according to the agrootechnical rules for reducing losses. ((2) The parties for agricultural mechanization may receive credits with current interest for covering the production expenses related to the executed works, in case of non-collection of incomes due to the non-realization of the production at the agricultural units as following the natural calamities, under the conditions established by law. These credits shall be reimbursed during the year of the plan and at the latest until the approval, according to the law, of the analysis on the basis of balance sheet. + Article 74 Art. 65-70 also applies accordingly to state agricultural enterprises, economic associations between state and cooperative units and resorts for agricultural mechanization. amp; 3. Crediting the production activity of the cooperative agricultural units + Article 75 The agricultural production cooperatives shall provide the financial means for carrying out the production activity from their own funds and from the money revenues made from the production. + Article 76 The Bank for Agriculture and Food Industry may grant loans in addition to own funds, on the basis of contracts, agricultural production cooperatives to cover production material expenses, retribution of labor, payment the contribution to the pension and social security fund, the economic development fund, as well as other obligations arising from the laws and contracts concluded by the agricultural production cooperatives, provided for in the revenue budget and expenses. + Article 77 The credits are established on the basis of contracts for the valorization of agricultural products, concluded by agricultural production cooperatives with socialist units, up to 60 percent of the value of the contracted production, taking into account the volume possible receipts to be made from the production capitalisation, to ensure the repayment of full credit at maturity. The appropriations shall be granted, in a staggered manner, to cover the production costs provided for in the expenditure estimates, on crops and animal species, which were the basis for the preparation of the revenue and expenditure budget. + Article 78 (1) In cases where, during the year, some agricultural production cooperatives need additional funds, the bank may grant, at their justified request, credits and above the proportion set out in the previous article, if there is a basis material and definite possibilities for the realization of income, repayment of credits and coverage of the other payment obligations. (2) If, during the year, from the stage of vegetation and the production of zootechnical production results that the production is not carried out and there is no guarantee of the loan refund, the bank stops the granting of credits or diminishes them to the level for which there are possibilities for reimbursement. + Article 79 Until the completion of the revenue and expenditure budget, the bank may grant agricultural cooperatives production credits for material expenses related to the production of the following year. + Article 80 In order to develop industrial activities, agricultural products processing, construction and service provision, the bank may grant loans, in addition to its own funds, to agricultural production cooperatives for supplies of raw materials and materials necessary for the execution of cost-effective and uninsured products. + Article 81 The contracted production cannot be capitalized in any other way than the one established on the occasion of granting the credit. If the agricultural production cooperatives do not comply with this obligation or change the destination of the contracted production, the bank is entitled to take measures for the repayment, before maturity, of the loans granted, from any availabilities of the cooperatives, and when these availabilities are not sufficient to proceed to forced execution, by capitalizing on existing products. + Article 82 The bank may grant intercooperative economic associations and economic units of public organizations, in addition to own funds, credits for livestock, feed stocks, materials and materials, chemical fertilizers, products and goods, as well as for other production expenses provided for in the production plans and in the revenue and expenditure budget. + Article 83 If, in some periods, the intercooperative economic associations cannot make their own funds payments, receipts and approved loans, they will be able to grant loans for the restoration of the payment capacity, with interest increased, for the payment of supplies and other payment obligations to third parties, under the conditions of art. 66 66 of this law. + Article 84 (1) If at some agricultural production cooperatives, the credits established for the contracted production and the possible income to be realized do not provide the amounts they need to cover the strictly necessary production expenses, they may grant credits on the basis of special approvals allowing the execution of maintenance, harvesting, transport and storage works in the plant and animal feed sector. ((2) Such credits may also be granted to agricultural production cooperatives which, due to natural disasters, do not carry out the production and income necessary to ensure the remuneration of the cooperators for the work performed, provided that measures are taken according to the agrootechnical rules for reducing losses. (3) The proposal for granting such credits shall be analyzed and submitted for approval by the Ministry of Agriculture and Food Industry and the National Union of Agricultural Cooperatives of Production, with the loan plan. + Article 85 The agricultural production cooperatives, the intercooperative economic associations and the economic units of the public organizations guarantee the loans with material values, with the incomes provided to be realized and with the assignment in favor of the bank of the rights money that they have to collect. The agricultural production cooperatives also guarantee the credits granted to the intercooperative economic associations, in proportion to their subscribed social parts. + Article 86 (1) The reimbursement of loans granted to the cooperative agricultural units shall be made directly from the amounts collected by them for the delivered products, the executed works and the services provided, from the compensation received and from any money income realized. (2) The loans granted at the end of the year by the intercooperative economic associations, determined by the non-realization of incomes or exceeding the expenses, shall be recovered from the agricultural production cooperatives in proportion to their respective parts. social underwriting. amp; 4. Granting of production credits to members of agricultural production cooperatives and producers with individual household + Article 87 (1) The Bank for Agriculture and Food Industry may grant members of the agricultural production cooperatives and producers with individual household, who contract with the socialist units the delivery of agricultural products, credits up to 60 percent of the value of contracted production. (2) For contracts concluded with consumer cooperation organizations, cooperators and producers with individual households receive in the same conditions money advances through the respective organizations. + Article 88 (1) Cooperators and producers with an individual household guarantee the production credits received with the assignment in favor of the bank of the money rights they have to collect from the socialist units, as well as with the goods they have in property. (2) The repayment of credits shall be made from the amounts due to the products handed over to the contracting socialist units, from compensation and other income. + Article 89 (1) The contracting socialist units shall guarantee, compared to the bank, the repayment at maturity of the production credits, granted on the basis of the contracts concluded by them with the cooperators and producers with individual household. The loans at maturity shall be recovered from the account of the socialist units that have guaranteed them. (2) If, following the checks carried out by the bank, it is found that contracts were concluded without material basis or that the socialist units did not pursue the execution of the contracts, the bank is entitled to proceed to the recovery of loans from debtor or, as the case may be, from the contracting socialist units, before maturity. + Article 90 The delivery contracts on the basis of which credits are granted constitute for the bank enforceable securities to cooperators and producers with individual household, as well as to the contracting socialist units. + Section III Financing and lending to investments amp; 1. Financing and crediting investments of state units + Article 91 ((1) The investments of the state economic units, provided for in the single national economic and social development plan, shall be financed according to the provisions of the revenue and expenditure budget, from the own funds of enterprises and plants, after case, constituted according to art. 20 20, 22 and 23. (2) At SOEs in operation, to which the financial resources needs for the financing of investments exceed the funds set up for these purposes, the banks may grant loans, in addition, repayable as a priority over the other destinations of own funds that are set up in the following periods. (3) For investments in the construction and equipping of clubs, sports facilities, holiday halls and similar ones, no credits are granted, financing being made from own funds. ((4) If the investment financing plant's own fund does not cover the investment costs provided for in this fund, the difference shall be covered by redistribution from the own fund for financing investments of other plants within the same ministry, central or local body of the state administration, as well as from the fund for the financing of investments constituted at the level of ministries and other central and local bodies of the state administration. When these funds are insufficient, the difference is covered by the central or local fund of economic and social development, as the case may be. + Article 92 The investments of the state institutions provided for in the single national economic and social development plan shall be financed from the central economic and social development fund, included in the republican budget, or from the local funds of economic and social development, contained in local budgets, depending on the subordination of the investment beneficiary. + Article 93 (1) In order to open the financing, the plants, enterprises, state institutions and other investment beneficiaries submit to the units of the financing banks the approved legal execution projects, the schedules of the investment, delivery of the machinery and the insurance of the working personnel, correlated with the deadlines for commissioning, as well as the building permit and other documents provided by law. For the other investment expenses, to which no execution projects are elaborated, the documentation approved according to the legal norms in force shall be submitted. (2) For the commencement of works and during their execution the investment beneficiaries and the executing organizations are obliged to submit, at the request of the banks, the estimates to the execution projects, in order to verify them. + Article 94 ((1) Banks shall finance investments if the following conditions are met: a) the existing production capacities are used according to the rules in force; b) the production disposal is ensured, according to the approved documentation; c) the objectives, capacities, investment costs and time-limits of the exploitation are within the provisions of the plan; d) the start of the works is based on technical-economic documentation elaborated according to the legal norms and norms, as well as the legal approvals for the use of the land on which the respective investments are located; e) the financial means necessary for the execution of works are ensured within the annual plan provisions; f) the works and expenses that are carried out are provided in the technical-economic documentation admitted to the financing; g) achievement of objectives, reimbursement of credits and recovery of investment expenses are ensured, according to the approved documentation. (2) The financing banks have the right to refuse the financing in cases where the conditions set out in the previous paragraph are not met, as well as the legal provisions regarding the start of the works, the verification of which returns as pregnancy. The refusals not accepted by the plan holders shall be resolved by the Council of Ministers, with the opinion of the Ministry of Finance and the State Planning Committee, on the basis of the proposal of the collective management bodies of the ministries and other bodies central and local. + Article 95 (1) The banks shall verify, according to the law, the legality of prices and tariffs, as well as the savings of the expenses provided for in the documentation and shall be pronounced on them within 20 days of receipt of the documentation appropriated by Executing organisations. (2) The reductions made by banks, to which no objections were received within 20 days of their communication, remain final. The value of the execution estimates and the general estimate shall be reduced by the remaining definitive reductions. ((3) The divergences between the units of the bank and the state socialist units or the organs under which they are located shall be solved by the higher hierarchical bodies. + Article 96 (1) It is forbidden to commit expenses, to contract works or deliveries for investments, before their inclusion in the single national economic-social development plan and to approve the technical-economic documentation according to the law, as well as the start of works before the banking bodies have ruled on the legality of these expenses, apart from the cases in which the legal provisions are otherwise provided. (2) When contracting and acquiring the technological equipment necessary to carry out investments the investment beneficiaries are required to ensure that they are brought to the site at times correlated with those for the installation, not to exceed Storage normatives on construction sites, established according to the legal provisions, and to avoid the formation of available machinery stocks. + Article 97 ((1) The delivery of machinery, machinery and technological installations, before the contractual terms, can be done only if the supplier has obtained the written consent of the investment beneficiary unit, given with the agreement of the financing bank, certifying that the purchase in advance of the machinery is economically justified, and conditions are provided for their installation and commissioning before the deadlines established by the approved technical-economic documentation. ((2) If the suppliers deliver in advance the machinery, machinery and installations without the prior consent of the beneficiary unit, it is obliged to refuse the payment, until the deadline stipulated in the contract. + Article 98 ((1) Investments shall be settled as their execution, in compliance with the provisions of the annual investment plan and the revenue and expenditure budget of the beneficiaries, within the limit of the approved legal general estimate; technical-economic documentation approved for that investment. (2) The materials for investments that are supplied by the beneficiary, according to the law, technological tests, spare parts and inventory items of small or short duration, which constitute the first endowment to new enterprises under construction, as well as technological equipment and installations, shall be financed, as they are purchased or carried out, within the framework of the funds provided for in the revenue and expenditure budget of the beneficiaries. (3) For expenditure on technological samples, recoverable from the valorisation of the products obtained, banks may grant short-term credits. + Article 99 (1) During the execution of the investment works and at their end, the investment beneficiaries are obliged to justify to the banks the spending of the funds issued. At the end of the works, the beneficiaries are obliged to carry out their reception and to present to the bank for justification and the approved commissioning minutes. (2) If the construction-assembly, service and design organizations, as well as the investment beneficiaries for the works in directing, have collected undue amounts, the banks shall have the right, if within 30 days from the party concerned does not refund the amounts in question, to issue, in order to recover them, payment documents, which are settled without the acceptance of the payer. (3) After the investment objectives are put into operation, the banks will settle only the works and expenses that, according to the law, can be carried out after the commissioning, recorded in the reception minutes, within the limit of the general estimate. + Article 100 Loans for investments in addition to the economic development fund and the fund for housing construction and other social investments shall be granted by banks under the same conditions provided by art. 94 94 para. ((1) for the financing of investments and if reimbursement is ensured within the time limits established by law + Article 101 During the execution of the investments provided for in the single national plan, banks may also grant credits in the following situations: a) when there is a planned gap, by quarters, between the expenses for investments and the establishment of own funds for their financing; b) if the quarterly investment plan is exceeded, by the execution in devans of works on some objectives and investment actions, or machinery, machinery and technological installations are purchased under the conditions of art. 97 97 para. (1), within the framework of the provisions of the annual plan, and this is justified economically, with material conditions ensured. + Article 102 ((1) If, during the year, the resources are not made to finance investments at the level of the provisions of the revenue and expenditure budgets, at the request of the plan holders or economic units, as the case may be, the banks may grant loans with increased interest, only if from the analysis of the documentation presented and the measures proposed to be taken, the guarantee of their repayment until the end of the plan year is created. When the conditions for reimbursement are not insured, banks may grant such credits only with the approval of the Council of Ministers. ((2) The loans granted until the end of the year shall be reimbursed in the following year, as a priority, from the economic development fund or from the housing and other social investments fund or the own fund for investment of the plant, as appropriate. + Article 103 Credits shall be reimbursed in the rates and at the time limits set by the credit agreement Economic units may repay the due rates in advance. + Article 104 (1) If, in a row, for two years, the repayment of the chargeable rates for investments in the company's own development funds is delayed, their refund is planned to be made from the funds for the financing of investments constituted at the plants or ministries, the other central and local bodies of the state administration, from the depreciation paid by the units in subordination. (2) For investments not put into operation at the planned deadlines, the banks, taking into account the measures taken to recover the delays, may approve the continuation of the lending until the end and the commissioning of investments, within the limits of the amounts provided in the credit agreement. For loans granted during the delay the financing banks charge increased interest rates, until the actual commissioning of investments. amp; 2. Financing and crediting investments of craft and consumer cooperation and other public organizations + Article 105 The cooperative organizations and economic units of the other public organizations realize the investments necessary to achieve the economic and social objectives provided in the single national plan and in the revenue and expenditure budget of the economic development constituted on account of the income derived from their activity. + Article 106 Banks can provide cooperative organizations and economic units of the other public organizations, in addition to their own funds, credits for the realization of new investment actions and objectives, for the expansion and modernization of existing capacities, ensuring increased production, service provision, improving supply and undoing and obtaining additional revenue. + Article 107 The financing and crediting of investments of cooperative organizations and economic units of the other public organizations are made according to the general norms that apply to state economic units. amp; 3. Financing and crediting investments of cooperative agricultural units + Article 108 (1) Agricultural production cooperatives carry out investments, according to the statute, from the economic development fund. (2) The Bank for Agriculture and Food Industry may grant production cooperatives, in addition to own funds, according to the provisions of the single national plan and from the revenue and expenditure budget, credits for the realization actions and objectives of new productive investment, developments and modernizations to existing ones, to ensure the increase of production capacities, service provision and works execution, in order to obtain appropriate bonuses of the value of net production and increase in the efficiency of the whole (3) Agricultural production cooperatives may also be granted loans for shares and investment objectives that are executed by association or cooperation. (4) Intercooperative economic associations may be granted credit for the introduction of mechanization, the upgrading of existing machinery and facilities, the improvement of production technology and the development of product processing activities agricultural. + Article 109 (1) Credits are granted for the execution of irrigation facilities and works of land improvements, plantations of vineyards and trees, agrootechnical constructions, machinery, machinery and installations, animal purchases, housing constructions for specialists, for other actions and objectives established by legal provisions, including for social investments. (2) The shares and objectives for which the credits are granted and the maximum repayment terms shall be those set out in Annex no. 2 to the present law. (3) The agricultural production cooperatives and the intercooperative economic associations are obliged to participate in the investment actions and objectives for which credits are requested, with their own means, at least 30 percent of the value investments. (4) The Bank for Agriculture and Food Industry, at the proposal of the Ministry of Agriculture and Food Industry, may approve, in particular cases, the granting of credits and over 70 percent of the investment value for actions and objectives productive conditions for the implementation of the plan tasks, within the approved volume of credits for agricultural production cooperatives and intercooperative economic associations. + Article 110 The volume of credits granted to agricultural production cooperatives shall be established annually by the single national plan and the state budget and shall be distributed by actions and counties by the Ministry of Agriculture and Food Industry together with the Bank for Agriculture and Food Industry. + Article 111 Credits shall be granted to agricultural production cooperatives which have provided for the revenue and expenditure budget allocated to the economic development fund at least in the minimum quota provided for by the Statute. + Article 112 (1) The Bank for Agriculture and Food Industry may grant agricultural cooperatives of less consolidated production credits for the implementation of the technical, organisational and economic measures and measures provided for in the recovery programmes, to complete and bring into operation the previously realized investments and the improvement of the production process. ((2) Credits are granted only if there are conditions for the implementation of programs and for the increase of production and incomes to ensure reimbursement at the established deadlines, for a maximum period of up to 5 years. (3) In actions and measures carried out on the basis of recovery programmes, agricultural production cooperatives shall participate by their own means as far as possible. + Article 113 ((1) The credits shall be approved to the agricultural production cooperatives and to the intercooperative economic associations by the bank, in compliance with the following conditions: a) the economic development fund provided for shall be constituted by them to ensure the reimbursement of the appropriations requested within the maximum approved time limits; b) there is certainty of the production and revenues provided for in the technical-economic documentation; c) the participation with own funds in the established proportions and the rational exploitation of the means of production should be ensured; d) there are conditions for the execution and the timely commissioning of the objectives, and the production foreseen to be carried out to have the undoing ensured; e) technical-economic documentation to be drawn up, approved and approved according to the legal provisions. (2) For the approval of the credit, the agricultural production cooperatives must submit to the bank the commitment to capitalize through the contracting socialist units the production of agricultural goods obtained at the respective objectives, until the complete restitution of credit. (3) If the bank, after the analysis, finds that the credit conditions are not met and there is no guarantee of repayment of the loan will not approve the requested credit. + Article 114 Agricultural production cooperatives and intercooperative economic associations are required to use the credits received in accordance with the intended destination and are responsible for their full repayment at maturity. + Article 115 The Bank for Agriculture and Food Industry shall have the right to stop lending or to recover before the deadline the loans granted, if the following situations are found: a) the change of the destination of loans granted or deficiencies in the execution of credited investments, likely to jeopardize the timely implementation of the objectives or the realization of the technical and economic indicators in the credit documentation; b) non-participation of agricultural production cooperatives with the own funds with which they have committed to the execution of the credited investment objectives; c) the use of means of production for purposes other than those for which they were credited, alienation, improper management of them, degradation or removal of them from production; d) failure to take measures to remove the deficiencies reported by the banking units. + Article 116 The agricultural production cooperatives and the intercooperative economic associations guarantee the credits received with material values, money means provided to be realized and with any other income in money and nature, as well as with the assignment in favor of the bank of the rights they have to collect. + Article 117 (1) The repayment of credits shall be made from funds of economic development, and if they do not cover the due rates, the difference shall be paid from the other funds available from the agricultural production cooperatives. (2) For investments that are carried out in intercooperative association or between cooperative units and state units, in cases when the benefits due to the associated agricultural cooperatives do not ensure the reimbursement of credits and payment of interest related to them, the economic development fund of the intercooperative economic associations or economic associations between state and cooperative units shall also be used. amp; 4. Crediting the investments made by the population + Article 118 (1) The Agriculture and Food Industry Bank may grant investment credits intended for the production of the production of members of agricultural production cooperatives and producers with an individual household for the procurement of production animals, propagating material, in order to carry out tree-vine plantations, as well as for other agrootechnical destinations. ((2) Credits shall be granted up to no more than 70 percent of the value of the shares and investment objectives, provided that the producers contract with the socialist organizations the delivery of products and products, from which to ensure the term reimbursement of those appropriations. (3) Investment credits may also be granted to producers with individual household in the non-cooperative localities, established in associations, in order to achieve objectives of common interest. Loans for investments are granted provided they contract with socialist units the products and products from the use of which to ensure the term repayment of loans and the payment of interest. ((4) The shares and investment objectives, for which credits and repayment terms are granted, shall be established according to Annex no. 2. + Article 119 (1) The House of Savings and Consemnations may grant loans to the population for the construction of personal property housing, as well as other cases provided by law. (2) Loans for the construction of personal property dwellings shall be guaranteed by the establishment of mortgage on the respective dwellings, under the conditions established by law (3) The loan contracts have the value of authentic documents and constitute enforceable securities. + Article 120 (1) The loans are guaranteed by the beneficiaries, for their entire value, through the pledge of material values, personal guarantees and disposals of claims. (2) Until the full repayment of the loans, the personal property and other goods acquired by the population through the use of credits may be disposed of only with the prior consent of the units which granted credits. + Chapter 5 External financial and foreign exchange relations + Section I General provisions + Article 121 Production for export, as well as export performance must therefore be made to provide the necessary resources for imports and increase of the state's foreign currency reserves, to lead to continuous improvement of economic efficiency, the profitability of the manufacturing and foreign trade units, the increase of national income and, on this basis, the consolidation of the purchasing power of the national currency, both domestically and in relation to other currencies. + Article 122 (1) In carrying out the policy of continuous growth of national wealth, the state fund in foreign currency and the state reserve of precious metals, which are an integral part of the state reserves of the Socialist Republic of Romania, are formed. (2) The manner of formation, administration and use of the state fund in foreign currency and state reserves of precious metals is established by law. + Article 123 The financial-currency activity is carried out on the basis of a unitary system of plans, which includes: a) external balance of payments; b) the plan of receipts and payments in foreign currency of enterprises, plants, ministries and other central and local bodies; c) balance of claims and external commitments. + Section II External balance of payments; plan of receipts and payments in foreign currency + Article 124 (1) The external balance of payments shall be drawn up by the Ministry of Finance, the State Planning Committee, the Ministry of Foreign Trade and the International Economic Cooperation and the banks, together with the ministries and other central bodies, in correlation with the indicators of the single national plan of economic and social development and the state budget, in conditions of currency balance. (2) The external balance of payments shall be elaborated on relations, with the carrying out of the tasks of receipts and payments in foreign currency by ministries and other central organs of the plan and shall be approved with the single national plan of economic and social development, annually and Five. (3) The distribution of the balance of payments indicators by quarters is approved with the economic indicators. + Article 125 The plan of receipts and payments in foreign currency of ministries, other central and local bodies, plants, enterprises and institutions that, according to the law, make receipts and payments in foreign currency, includes the totality of receipts and payments in currency and shall be drawn up in correlation with the other economic and financial plan projects and the external balance of payments. + Article 126 (1) Ministries and other central and local bodies shall carry out the tasks of the plan of receipts and payments in foreign currency on foreign trade enterprises and other subordinate units which, according to the legal provisions in force, are authorized or who have tasks of receipts and payments in foreign currency. (2) The economic units that carry out complete objectives, construction-assembly works and other such works abroad carry out the tasks of receipts and payments in foreign currency in accordance with the approved indicators for each objective or groups of objectives and construction sites. + Article 127 For the activity of international services, non-commercial operations and expenses for commercial activity, transfers may be made between the expenses indicators of the plan holders and by quarters, with the approval of the Ministry Finance and the Ministry of Foreign Trade and International Economic Cooperation, respectively, at their justified request. + Article 128 Manufacturing economic units, plants, foreign trade enterprises, ministries and other central and local bodies with external trade tasks are responsible for engaging imports and making payments within the limit, respectively. provisions of the plan and in accordance with the provision of foreign exchange resources + Article 129 (1) The Romanian Foreign Trade Bank organizes a record on the execution of the balance of foreign payments and presents monthly to the Ministry of Finance, the Ministry of Foreign Trade and International Economic Cooperation and the State Planning Committee the situation of its (2) Enterprises, plants, ministries and other central and local bodies, shall be responsible for the full and timely collection of rights in foreign currency, shall organize the execution of the execution plans and payments in foreign currency, on a quarterly basis. The collective management bodies analyze the way of carrying out the plans for receipts and payments in foreign currency and establish the necessary measures to respect the planned currency balance. + Article 130 (1) Ministries and other central bodies which have in their subordinate undertakings carrying out complete objectives, construction-assembly works and other similar works abroad shall report to the Council of Ministers within 30 days of the data provided in contracts for the conclusion of works, the situation of each objective with a value of over 100 million lei foreign currency and how the approved economic and financial indicators were realized. (2) In the works with values up to 100 million lei, the analysis of the way of achieving the approved economic and financial indicators is done by the governing boards of the ministries and other central bodies. + Article 131 The Ministry of Finance, the Ministry of Foreign Trade and International Economic Cooperation, the State Planning Committee and the Romanian Foreign Trade Bank are responsible for carrying out the balance of external payments, implementation of export receipts and payments for import. Quarterly, report to the Council of Ministers on how the plan of receipts and payments in foreign currency was carried out by each ministry, central or local body and propose measures to maintain the planned currency balance. + Article 132 If export receipts are not carried out according to the approved quarterly plan on ministries and other central and local bodies and if the planned currency balance is carried out, they will not be able to hire new imports, within the limit unrealised amounts to receipts. Within 3 days, the ministries and other central and local bodies will report to the Council of Ministers on the measures taken to make the receipts and ensure the planned currency balance. + Article 133 (1) In exceptional circumstances, at the request of the minister or head of the central or local body who did not realize his planned foreign currency receipts, the Romanian Foreign Trade Bank, with the agreement of the Minister of Finance and the Minister of Commerce foreign exchange and international economic cooperation, may grant temporary credits in foreign currency to foreign trade enterprises for making payments abroad, until the Council of Ministers is resolved. ((2) The interest and commissions for these credits shall be borne according to the law. + Section III Balance of claims and external commitments + Article 134 (1) The balance of foreign receivables and commitments shall include the rights and obligations to abroad at a time of export, import and international economic cooperation, works, service, tourism and other works. other activities, as well as foreign credits received and granted, interest and related commissions, participations in joint ventures and international financial-banking bodies, foreign currency availabilities abroad and availabilities external partners at banks of the Socialist Republic of Romania and other rights and foreign exchange obligations in relations with abroad. (2) The balance of foreign receivables and commitments shall be drawn up by the Ministry of Finance, the State Planning Committee, the Ministry of Foreign Trade and International Economic Cooperation and banks, by countries and relations, with the years and the presents to the Council of Ministers with the five-year and annual plans. + Article 135 (1) Economic units, foreign trade enterprises, plants, ministries, other central bodies and banks shall organize and keep records in foreign currency and in lei, at the legal courses in force, of claims and commitments resulting from foreign trade activity and other external activities and are responsible for the full and timely collection of foreign currency rights, as well as the honoring of the commitments made abroad and report to the Ministry of Finance the situation of receivables and commitments. (2) The methodology of record and reporting shall be established by the Ministry of Finance, together with the Ministry of Foreign Trade and International Economic Cooperation, the State Planning Committee, the Banks and the Central Statistics Directorate. + Article 136 The Ministry of Finance ensures the centralized record on the economy of external claims and commitments, seeks and analyzes periodically the way in which the balance of claims and external commitments is carried out and together with the State Committee of the Planning, the Ministry of Foreign Trade and International Economic Cooperation and the banks submit annually to the Council of Ministers the report on the situation of foreign relations and commitments on relations, countries, with staggered years of collection and paying them. + Section IV Credit and settlement relations with abroad + Article 137 Credit relations with abroad are established on the basis of external contracts, agreements, conventions and other agreements, in compliance with the legal provisions. + Article 138 The granting and receiving of external credits shall be carried out through banks, foreign trade enterprises and other authorized economic units, under the law. + Article 139 (1) The financial resources necessary for the undertakings for the granting of external credits, including those within the framework of the governmental conventions or agreements shall be ensured by bank credits, and the availability of external credits received shall be used. according to the provisions of the loan plans (2) The conditions and modalities of management and administration of resources in lei on foreign credits granted and received shall be established by law. + Article 140 Foreign trade enterprises, other socialist units authorized to carry out credit operations with abroad and banks are obliged to keep records of credit operations, by category of loans, by currencies, on terms of collection of loans granted and payment of appropriations received. + Article 141 Foreign trade enterprises and other socialist units authorized to perform foreign trade operations are obliged to provide in export-import contracts, international economic cooperation, tourism, service supplies, transport and international expeditions, firm guarantees, settlement modalities, payment and credit conditions, to ensure the full and timely collection of all rights in foreign currency and the realization of assumed obligations. These units respond, in the event of non-collection of amounts in foreign currency to the deadlines established by external contracts, the execution of guarantees and the fulfilment of the necessary procedural documents for the recovery of all claims Due. + Article 142 The ministries, other central bodies with foreign trade activity, the Ministry of Foreign Trade and International Economic Cooperation, the Ministry of Finance, the Romanian Foreign Trade Bank and the other banks the rights resulting from the loans granted and the repayment of the instalments due to the credits received and give the necessary support to the foreign trade enterprises and to the other units in carrying out the obligations + Section V Financing and lending of foreign trade activity + Article 143 The total requirement of circulating means for the business of foreign trade enterprises, international economic cooperation, service provision and the execution of works abroad shall be determined according to the tasks of export and import, as well as those concerning other foreign trade activities. The need for circulating means is covered according to art. 51. + Article 144 (1) The Romanian Foreign Trade Bank and the other banks shall grant to foreign trade enterprises short-term, medium or long-term loans, under the conditions laid down in the contracts, arrangements and external agreements, in domestic contracts and with compliance with legal provisions, for: a) export goods delivered by the manufacturing establishments, purchased on their own bases or left in custody at manufacturing undertakings; b) expenses related to the supply of materials and materials, to supplies and other expenses incurred in the country, in order to execute works abroad; c) complex installations, machines, machinery and other goods delivered to the external with payment under credit conditions; d) the payment of the import goods, including advances granted to external suppliers, as well as for the external circulation expenditure; e) other external trade operations, including special operations for the realization of currency contribution. ((2) Credits are granted from the moment of dispatch of goods to the external or the formation of stocks at foreign trade enterprises, including those left in custody at the manufacturing facilities, the making of import expenses and payments and shall be reimburse as the foreign currency is collected, the value of the goods imported from domestic beneficiaries, as well as from other sources according to the legal provisions, within the deadlines provided for in contracts or established by banks. (3) The provisions of art. 49-61 and 64-70 of this law shall also apply accordingly to foreign trade units. + Article 145 The Romanian Foreign Trade Bank and the other banks shall verify the fulfilment of the term by all foreign trade enterprises and the units producing the collection and payment obligations resulting from the external, existing and good contracts storage and preservation of goods intended for export and execution of works abroad and aims for these units to collect in full and term the rights in foreign currency and to make payments to the external. + Section VI Lending to Romanian economic units participating in joint ventures + Article 146 The contribution to the share capital, both in lei and in foreign currency, of the Romanian economic units participating in mixed companies based in the country and abroad shall be ensured from own funds and by bank loans, according to the provisions of the national plan unique economic and social development and balance of external payments. + Article 147 The Romanian economic units participating in the mixed companies based in the country and abroad, the ministries and the other central bodies, are responsible for the full realization of approved economic and financial indicators, as well as the transfer of in the country of benefits and other due rights, within 30 days from the approval of the annual accounting balances or under the conditions provided by the law of the country in whose territory the company is based. + Article 148 The ministries and other central bodies subordinated to the economic units participating in joint ventures shall submit to the Council of Ministers, periodically, with the opinion of the Ministry of Foreign Trade and International Economic Cooperation, Finance and the Romanian Foreign Trade Bank, reports on the status of the results account and the way of carrying out the approved financial-currency indicators, the repayment of credits and related interests, the transfer, respectively, collecting the benefits, as well as other rights due to the Romanian part of the activity of these + Chapter 6 Organizing and making payments between socialist units + Article 149 (1) The socialist units are obliged to keep the money available in the accounts with banks and to make payments and receipts through these accounts. (2) The payments between the socialist units shall be made, as a rule, by non-cash settlements. + Article 150 The National Bank of the Socialist Republic of Romania, together with the specialized banks, establishes the settlement forms and instruments, fixes the limit in which cash payments can be made between the socialist units and elaborates rules on the conditions and the deadlines for the submission of settlement documents and cash to banks, the terms of acceptance and payment, the limits in which the cash can be kept in the cashiers of the socialist units, the way of issuing the cash and the conditions of making payments from receipts. + Article 151 (1) The socialist units are obliged to provide in economic contracts forms and settlement instruments to ensure the collection in a short time of the value of the delivered products, of the executed works or services provided. ((2) The banks may order the replacement of the settlement forms and instruments chosen by the socialist units with forms and instruments that correspond better to the economic relations between the units, in order to strengthen the payment discipline. + Article 152 ((1) The payments from the accounts of the socialist units shall be made with their consent, except for those payments concerning obligations established by enforceable securities, as well as payments for which the legal provisions stipulate that the will settle without the consent of the paying units. (2) For products which, by their nature, are consumed immediately after receipt, the economic units may establish by contracts, with the agreement of the banks, that their settlement be carried out immediately after the takeover by the beneficiary. Any differences will be recovered later. + Article 153 Loan documents, regardless of their name and loan account statements regarding the term unpaid claims or receivables that the bank is entitled to collect before the term constitute enforceable securities, without the fulfillment of other formalities. + Article 154 (1) The payments must be made at the date of chargeability of the obligations, the debtor being obliged to carry them out, and the creditor being obliged to ask them. (2) The socialist units are obliged to ask the beneficiaries to pay the products after handing over, sending or passing them into custody under the conditions provided by law, as well as the payment of the executed works or services provided, after the reception with compliance with contractual clauses. (3) The beneficiary is obliged to make the payment of the products taken or passed into custody, of the executed works and services provided, after their reception, except in the cases provided by the legal provisions. The same obligation lies with the beneficiary if, although the contract was provided for by the contract, the payment is made at the request of the supplier, however he did not ask for it. ((4) In the case of goods which, according to the contracts, are sent directly to the final beneficiaries, payment shall be made by an intermediate unit, the payment of the goods shall be carried out by the intermediate unit, upon receipt of the settlement documents prepared by the supplier for the goods actually dispatched, with the right to refuse subsequently any differences found on the receipt, reception and settlement of the goods by the final beneficiaries. + Article 155 (1) The imported goods shall be delivered to the internal beneficiaries by the importing foreign trade enterprises, in compliance with the clauses stipulated in the internal and external contracts concluded or with the approvals given by the competent bodies. ((2) External trade enterprises shall invoice to the beneficiaries the goods arriving from import, on the basis of customs import declarations, external transport documents and under the conditions laid down in the internal contracts. (3) The beneficiaries of import goods have the obligation to accept or refuse to pay the goods after receiving and receiving them, within the legal deadlines, based on the documents issued by the foreign trade enterprises. ((4) If the reception and reception of imported goods is not carried out no later than 20 days from the date of receipt of invoices from foreign trade enterprises, the beneficiaries shall be obliged to order the payment of the documents in question, with the right to refuse subsequently any differences in terms of verification and reception, within the time limits and conditions of the external contracts. + Article 156 Deliveries of products, works execution and services on credit between socialist units are prohibited, except for the specific cases provided by legal provisions. + Article 157 The settlement instruments issued by the creditor and for which the debtor accepted the payment, as well as those issued by the debtor in favor of the creditor are, in the bank settlement reports, enforceable securities, on the basis of which the payment operations are made between Socialist units. + Article 158 The beneficiary shall have the right to refuse payment in full or in part, as the case may be, when: a) the delivery of the products, the execution of the works or the provision of services is not the subject of a contract or has no other legal basis, provided that they do not use the goods b) the products were not received until the expiry of the term of acceptance or other deadlines set by the bank; c) the prices or tariffs on the basis of which the payment amount was established are higher than the legal ones, or the payment amount has been erroneously established; d) the contractual clauses regarding quantity, quality, delivery time, as well as other contractual clauses are not respected; e) the documents provided for in the contract have not been received without which the products cannot be received, used or recovered; f) the amount claimed is not due; + Article 159 (1) The economic units that deliver products, perform works or provide services are entitled to claim their customers, who repeatedly delay the payment and create financial hardships, to provide them in advance the necessary amounts to carry out payments, through bank settlement instruments stating, in advance, the existence of payment possibilities. In such situations, banks are obliged, at the request of suppliers, to give relationships regarding the payment possibilities of customers. (2) If the beneficiaries do not provide in advance the amounts necessary for the payments, the suppliers may suspend the deliveries of products, works or service supplies, and shall be 30 days before the application of this measure. the beneficiary and its superior hierarchical organ. + Article 160 (1) The socialist units are obliged to take measures to ensure a permanent balance between payments and receipts. ((2) The payments from the accounts of the socialist units shall be made subject to the availability of the approved accounts and credits. (3) After the exhaustion of these funds the payments are made within the limits of the receipts, in the following a) payments for retribution and other assimilated payments; b) payments to the budget, payments from the fund for social actions, payments to finance investments and payments for insurance premiums; c) payments for deliveries of goods, works and service supplies; d) reimbursement of bank loans due; e) other payments. (4) The payments from the fund of participation of the working people to the benefits will be made only after the other payments are made. + Article 161 At the agricultural production cooperatives and the intercooperative economic associations, in the case of the depletion of the approved loans and the lack of availability, the payments shall be made within the limits of the receipts in the following order: a) repayment of due bank loans; b) payments for the retribution into money of work and other assimilated rights; c) payments to the state budget; d) payments for deliveries of goods, works and services, contributions to the funds necessary for the payment of pensions and other social security rights, as well as insurance premiums; e) the procurement for the economic development fund and other funds that are constituted according to the statutes of the agricultural production cooperative and the intercooperative association; f) other payments. + Article 162 (1) Within the same category provided for in the order of payments of art. 160 and 161, payments shall be made in chronological order of payment periods, and if they have the same payment term, in the order in which they are listed in these texts. ((. The amounts due by way of accessory shall be paid in the same order as the main claim. + Article 163 Deliveries of goods, works and service supplies for agricultural production cooperatives and intercooperative economic associations shall be made only after the units concerned have ensured the payment possibilities of these goods. cooperative and associations. + Chapter 7 State Insurance + Article 164 State insurance must contribute, by specific means, to the restoration of damaged or destroyed goods as a result of the calamities of nature and accidents, to the repair of damage that insured persons respond according to the law, to the achievement of provision and saving measures. + Article 165 (1) State insurance includes branches of insurance of goods, persons and civil liability, in the form of insurance by the effect of the law or faculties. (2) Insurance through the effect of the law pursues, with the urging of the insured, the satisfaction of the economic and social interest of the entire community in defense of the national wealth, maintaining the continuity of the production process and protecting victims of accidents and their families. (3) The optional insurance ends for goods, persons or risks not included in the insurance by the effect of the law or in addition to them. (4) For insurance concluded with commitments in foreign currency, operations of disposals and receivations of risks and premiums in reinsurance shall be performed. + Article 166 (1) Insurance reports shall be established between the State Insurance Administration, as an insurer and state socialist units, cooperative organizations or other public organizations and individuals, as insured persons. In exchange for insurance premiums paid by the insured, in insurance by the effect of the law or optional, the insurer takes over the obligation to grant compensation or insured amounts in case of certain events. (2) The categories of units, of goods and of persons who ensure, the risks, the premium rates, the insured amounts and the other insurance rules shall be established according to the legal provisions. (3) The insurance reports established with the socialist state units envisage covering the damage caused by insured events, the compensation granted to these units contributing to the maintenance of the continuity of the production process. (4) The insurance reports with the cooperative organizations or other public organizations are intended to protect the assets belonging to them, the compensation granted to these organizations contributing to the reunification of the public property. (5) In relation to insurance with individuals, the restoration of goods, the coverage of some damage and the creation of additional means of provision in connection with the events regarding the life and integrity of persons shall be considered. + Article 167 The insurance fund constituted of the premiums from insured shall be used for: payment of compensation and insured amounts, financing of actions to prevent and combat damage, constitution of the statutory fund, reserve fund in lei and in foreign currency, the reserve of premiums for insurance of persons, the coverage of specific and general administration expenses, as well as other destinations provided by legal provisions. + Chapter 8 Keeping the population's money savings + Article 168 (1) The State, through the House of Savings and Consemnations of the Socialist Republic of Romania, organizes and stimulates the preservation of the money savings of the population. (2) The operations of keeping the money savings of the population can also be carried out by other banking institutions, within the limits of the competences established by their organization and functioning statutes. + Article 169 (1) The deposits of the population at the House of Savings and Consemnations and other banking institutions are guaranteed by the state, and the right of the holder on deposits is protected by law. (2) Submissions of the population shall not be subject to prescription and shall be returned, upon request, to the holders of the depositors or their legal representatives, and in the event of death of the holder, to the heirs. (3) The deposits of the population shall be granted interest established by legal provisions. + Article 170 (1) The State shall ensure the secret of deposits. (2) The staff of the House of Savings and Consemnations, of the units performing operations for the House of Savings and Consemnations and of other banking institutions is obliged to keep the secret regarding the names of the depositors and the holders deposits, amounts saved and any other data in connection with the operations carried out in their name. (3) Informative data on the deposits and operations carried out shall be given, upon request, only to their holders and their legal representatives, and in criminal cases, to the prosecution bodies and to the courts, only after the setting in motion of criminal action against deposition holders. (4) No other organ shall be entitled to such information. (5) The violation of the provisions on the secret of operations constitutes the crime of disclosure of secrets on public interests, provided for and punished by art. 251 of the Criminal Code. + Article 171 (1) Romanian citizens who acquire foreign means of payment shall be obliged to submit them to the National Bank of the Socialist Republic of Romania, the Romanian Foreign Trade Bank or to the units authorized by them, under the conditions provided by law. (2) The amounts in foreign currency that may be ordered by foreign means of payment shall be kept on the territory of the country in personal accounts with the National Bank of the Socialist Republic of Romania or at the Romanian Foreign Trade Bank. + Chapter 9 State budget + Section I General provisions + Article 172 The state budget contributes to the achievement of the Romanian Communist Party's policy of rapid and balanced development of the national economy, of relentless lifting of the standard of living of the population, constituting a piracy of influence on planning economic and social. + Article 173 (. The state budget shall be drawn up annually. The budget year begins on 1 January and ends on 31 December. (2) The state budget shall ensure the balance between income and expenditure. + Article 174 (1) The revenues of the state budget consist of: a) income from state socialist units; b) incomes and other receipts related to the state social insurance budget; c) taxes and fees paid by the cooperative organizations and economic units of the other public organizations; d) customs duties; e) taxes and fees from the population; f) other income. (2) The revenue assessments entered in the state budget represent minimum tasks to be carried out. + Article 175 (1) Any amount due to the state shall be made to the budget, if the legal provisions do not provide otherwise. (2) In case of non-payment of the amounts to be paid to the state budget by the socialist units, the financial and banking bodies shall have the right to order their transfer to the budget from the accounts of the respective units. (3) Incasing to the state budget the amounts due and unpaid to the term by individuals, as well as by legal entities, other than those of the previous paragraph, shall be made by applying the enforcement measures provided by Law. + Article 176 (1) Failure to comply with the terms of payment of the amounts due to the state budget shall entail the obligation to calculate and collect the increases of delay provided by law. (2) The late increases will not be able to exceed the debit due, if the law does not provide otherwise. + Article 177 (1) State budget expenditures shall be made in accordance with the objectives of the single national plan. (. expenditure shall be made from the state budget for: a) financing of the national economy: objectives and investment actions that according to the law can be borne from the budget, the constitution of state reserves, works of prospections and geological research approved by the single national plan, complex research of general interest and those approved by priority programmes, as well as other objectives or actions of an economic nature, provided by legal provisions; b) realization of social-cultural actions; c) the granting of pensions and the realization of other actions from the state social insurance budget; d) defending the country; e) the functioning of state power bodies, state administration bodies, judicial bodies and prosecutor's offices; f) the realization of other actions and tasks provided by legal provisions. + Article 178 No expense can be entered in the state budget or made of it if there are no legal provisions for such expenses. + Article 179 The amounts approved by the state budget, within the limits of which expenses can be made, represent budget credits that cannot be exceeded. + Article 180 Revenue and expenditure shall be entered in the state budget in the order established by the budget classification. + Article 181 Socialist units have the obligation to carry out in full and in terms of time, taxes, taxes and any other amounts due to the state budget and are responsible for the use of funds received from the state budget, their spending with maximum economic and social utility, to respect the discipline of the plan and financial. + Article 182 The establishment and use of financial means belonging to the state outside the budget can be made only under the conditions established by legal provisions. + Article 183 The state budget consists of the Republican budget and local budgets. + Section II Republican budget + Article 184 (1) The Republican budget concentrates the main part of the budget fund and is administered by the central state bodies. (2) Within the Republican budget, the budget of the Great National Assembly is also included. (3) The Republican budget also includes the state social insurance budget. + Article 185 (1) The revenues of the republican budget are made up of resources from the socialist state units of republican interest, as well as from other incomes established by law as resources of this budget. (2) The Republican budget shall also pay the income pluses from the centralized budgets of the counties, respectively of the city of Bucharest, to which the own incomes exceed the planned expenses, in the amount established by the law of adoption of the state budget. + Article 186 The Republican budget provides the necessary financial means for objectives and actions that are financed from the central economic and social development fund, for other objectives and actions of an economic nature, for the social-cultural actions that is carried out through the socialist state units of republican interest, for the expenses of maintenance and operation of central bodies of state power, central bodies of state administration, judicial bodies and those of the prosecution, the defence of the country and other destinations provided for by provisions Legal. + Article 187 (1) From the income of the Republican budget can be assigned amounts broken down by centralized budgets of counties that cannot fully cover their planned expenses with their own income. If the necessary income is not provided either on this path, the difference to the level of the planned expenses is covered from the Republican budget. (2) The broken amounts, as well as the subsidies granted from the Republican budget in addition to the own incomes of the local budgets are approved annually, for each county, by law. + Article 188 The Republican budget also includes the budget reserve fund at the disposal of the State Council that is used to supplement, in justified cases, credits approved by the state budget in order to finance, according to the provisions legal, actions or new tasks that occurred during the year. + Section III Local budgets + Article 189 (1) Local budgets in the budgets of administrative-territorial units. (2) Each commune, city, municipality, sector of Bucharest, county, as well as the city of Bucharest has its own budget, which is adopted by the popular council of the respective administrative-territorial unit, under the conditions of this law. + Article 190 ((1) The incomes of the budgets of communes, cities, municipalities, sectors of Bucharest, counties and city of Bucharest are made up of resources from the state socialist units of local interest, taxes and fees paid by cooperative organizations and economic units of the other public organizations, taxes from the population, local taxes and other income established by law as resources of these budgets. (2) In order to achieve self-financing in each commune, city, municipality and county, the committees and executive offices of the popular councils are required to take measures to increase their own revenue base through the continuous development of activities economic interest of local interest, service provision and other activities, taking into account the requirements of the population. + Article 191 From the budgets of communes, cities, municipalities, sectors of Bucharest, counties and Bucharest municipality are financed, in accordance with the provisions of plan, objectives and economic actions, social-cultural actions, maintenance and operation of local bodies of state power, local bodies of state administration and other objectives provided by legal provisions. + Article 192 The distribution of incomes and expenses by categories of local budgets is made by the executive committees of the county folk councils and the city of Bucharest, based on the legal norms, depending on the duties of the local bodies and the subordination units. + Article 193 (1) In situations where the expenses provided in the budgets of certain municipalities, sectors of the city of Bucharest, cities or communes cannot be fully covered by their own incomes, for the balancing of the respective local budgets broken down by the income of the Republican budget collected on the territory of the administrative-territorial unit in question, or subsidies from the budget of the superior hierarchical administrative (2) The amounts broken down from the income of the republican budget that are available to the municipalities, the sectors of Bucharest, the cities or communes shall be established by the county and county councils of Bucharest, within the limits of the amounts approved annually by law by county and Bucharest. (3) In the case of municipalities, sectors of Bucharest, cities or communes whose own incomes exceed the planned expenses, the corresponding differences shall be paid to the budget of the upper hierarchical administrative-territorial unit. + Article 194 The counties, the city of Bucharest, as well as the municipalities and cities that have in their composition and other localities also draw up centralized budgets. In these centralized budgets are included both the own budget of the respective administrative-territorial unit, as well as the budgets of the communes, cities, municipalities and sectors of Bucharest, lower hierarchical, as the case may be. + Article 195 (1) In the budgets of the counties and of the city of Bucharest, budgetary reserve funds are registered at the disposal of the executive committees of the respective folk councils, which can be used under the conditions of this law to supplement some credits budget approved by local budgets, in order to finance new actions or tasks during the year. ((2) If, during the year, the budgetary reserve funds become insufficient to finance new actions or tasks, and the executive committees of the popular councils find some availability of budget credits that are no longer necessary by the end of the year for the performance of the planned tasks, the budgetary reserve funds may be increased with these availabilities up to no more than 50 percent of their initial amount approved by the budget. (3) The availability of budgetary appropriations from expenditure on remuneration, including tax on the total retribution fund and contribution for state social security, may not be used with this destination. capital investments and repairs, the expenses for which, through the legal provisions, special sources of financing are established, the expenses for whose coverage were granted additional from the budget reserve fund provided for in the budget republican, as well as availabilities to budget credits that, according to the present law, are veers to the budget reserve fund provided for in the Republican budget. + Section IV Development, adoption and execution of the state budget. End of budget + Article 196 (1) The draft state budget shall be drawn up on the basis of draft revenue and expenditure budgets of ministries, other central state bodies and plants, as well as projects of revenue and expenditure budgets of the counties and Bucharest. (2) The collective management bodies of the ministries and other central bodies shall ensure the elaboration of the draft budget of revenue and expenditure on the activity of subordinated units and their own activity. (3) The executive committees of the popular councils shall develop the projects of revenue and expenditure budgets, based on the projects of revenue and expenditure budgets of directly subordinated units, as well as the projects of revenue budgets and expenditure of the lower hierarchical administrative-territorial units. + Article 197 Draft budget of revenue and expenditure prepared by ministries, other central state bodies and executive committees of the county and county councils of Bucharest, comprising the financial indicators, as a whole the activity, as well as on the plants, are transmitted by them to the Ministry of Finance accompanied by calculations and substantiation indicators. The Ministry of Finance is also sent to the Ministry of Finance revenue and expenditure budgets by the central + Article 198 The Ministry of Finance improves the proposals of financial indicators presented by the ministries, the other central state bodies, central and executive committees of the county folk councils and the city of Bucharest, together with representatives of these, taking into account their own analyses and calculations regarding the level of revenues and expenditures of the state budget, the conclusions drawn from the controls carried out on the activity of the state socialist units. + Article 199 (1) The Council of Ministers examines the works presented by the Ministry of Finance, bringing improvements to financial indicators and resolving possible divergences between the Ministry of Finance and the plan holders on the figures proposed to be entered in the budget and finalize the draft state budget. (2) The draft state budget, drawn up by the Council of Ministers, after its examination by the Supreme Council of Economic and Social Development, shall be submitted for approval to the Grand National Assembly. (3) The draft of the local budgets is subject to the debate of the Legislative Chamber of + Article 200 (1) The Grand National Assembly shall adopt the state budget law. (2) After the adoption of the state budget law, the Council of Ministers elaborates the proposals on the conduct of financial indicators on ministries, other central state bodies, on central and on executive committees of the county folk councils and of the city of Bucharest that is approved by decree of the State Council establishing, at the same time, the measures to be taken in order to fulfill in good conditions the state budget. + Article 201 (1) The projects of the budgets of the counties and of the city of Bucharest, improved on the basis of the annual state budget law and approved indicators, according to art. 200 200 para. (2), shall be presented by the executive committees for the adoption of the popular councils. (2) The county folk councils and the city of Bucharest adopt the centralized budget of the respective administrative-territorial unit, with the distribution of incomes and expenses on the budgets of the component administrative-territorial units, the budget own, as well as the balancing resources on administrative-territorial units, or the amounts to be collected from the budgets of the lower hierarchical administrative-territorial units, as the case may be. (3) The popular councils of the communes, cities, municipalities and sectors of the city of Bucharest adopt, within the limits established by the higher hierarchical folk councils, the respective local budgets. + Article 202 (1) The incomes and expenses provided for in the state budget shall be distributed by quarters, depending on the plan tasks carried out by decree of the State Council and by the legal deadlines for the payment of income and for the payment. (2) The distribution of income and expenses by quarters shall be approved by: a) Ministry of Finance, for the Republican budget at the proposal of ministries and other central state bodies. Also, the Ministry of Finance approves the distribution by quarters of the income raises provided to be paid to the Republican budget by the budgets of the counties, respectively of the city of Bucharest to which its own revenues exceed the expenses planned, the amounts broken down from the revenues of the Republican budget, as well as the subsidies granted from the Republican budget to the local budgets, on the proposal of the executive committees of the county folk councils and the city of Bucharest; b) the executive committees or offices of the folk councils, for the own budgets of the respective administrative-territorial units, as well as for the subsidies provided for granting or the amounts that are taken from the local budgets of the units lower hierarchical administrative-territorial; c) principal authorising officers, for the budgets of subordinated units. + Article 203 The distribution by quarters of state budget revenues and expenditures may change when changes occur in the stagnation of plan tasks, change the legal deadlines for the shedding of income or make payments, as well as in other duly justified cases, according to legal provisions. + Article 204 (1) The budgetary appropriations approved by the Republican budget may be used only after the opening of credits or the supply of funds by the Ministry of Finance, and those entered in the local budgets, within the limits of the availability in the account the respective authorising officers. ((2) The granting of funds from the budget shall be made within the limits of the amounts and according to the approved destination, in relation to the degree of use of the resources made available previously, in compliance with the legal provisions governing the That. + Article 205 (1) It is forbidden to make payments directly from the revenues collected for the budget, except when the legal provisions provide otherwise. (2) Any expenditure of the amounts received from the state budget may be approved by the authorising officer and shall be carried out only if it was, in advance, approved, according to the law, by the head of the financial-accounting department or other persons pregnant with the exercise of preventive financial control from socialist units, as well as other organs with such powers in the economy. + Article 206 (1) The principal authorising officers of the republican budget shall be the ministers and heads of the other central state bodies. (2) The main authorising officers of the local budgets are the chairmen of the executive committees and offices of the popular councils. (3) The heads of state socialist units with legal personality financed from the republican or local budget shall be, as the case may be, secondary or tertiary orderers. + Article 207 (1) The principal authorising officers may approve the expenditure only in compliance with the legal provisions and within the limits of the provisions of the revenue and expenditure budgets of the institutions they lead and have the right to allocate, in report with the plan tasks and the degree of use of the amounts previously granted, budget credits to the lower hierarchical units. (2) The secondary officers shall have the right to use, according to the destination and in compliance with the legal norms, the approved budget credits for the units they run and to allocate budget credits to the subordinate units whose leaders are Tertiary officers. (3) The tertiary authorities shall use the budgetary appropriations allocated to them only for the needs of the units they lead, according to the provisions of the approved revenue and expenditure budgets and under the conditions established by legal provisions. + Article 208 The principal authorising officers may delegate the right to approve the use and distribution of budgetary appropriations to their rightful substitutes and to the heads of the directorates, heads of the local specialized bodies of the state administration or of the other similar units, as appropriate. + Article 209 Ministers, heads of the other central state bodies, chairmen of the committees and executive offices of the popular councils, as well as the heads of subordinate state units, are responsible for the use of the amounts received from the budget, the integrity of the goods entrusted to the establishment they lead, the keeping up to date of accounting and the presentation of the reports on the budget execution. + Article 210 During the execution of the state budget, the ministers and heads of the other central state bodies, as well as the presidents of the executive committees of the county folk councils and of the city of Bucharest, have the obligation elaboration of normative acts whose application attracts the reduction of incomes or the increase of the expenses established by the state budget, to provide for the means necessary to compensate the income or to cover the expense increase. + Article 211 (1) Ministries, other central and local bodies, economic units, institutions have the obligation to commit expenditure on the resources provided in the state budget to analyze how to achieve the planned budget revenues and to act to carry out the provisions of the revenue and expenditure budget, given the maintenance of the planned balance in relations with the state budget. (2) If, at the end of the quarters, the budget revenues were not made by some principal authorising officers at the planned level and the balance is not ensured throughout the state budget, the Ministry of Finance may block, with the unrealized amount, the provisions of budget appropriations in the following periods of the respective authorising officers. The use of blocked budget appropriations will only be able to meet the income at the level of the plan or with the approval of the Council of Ministers at the request of the principal authorising officer, with proposals to ensure balance planned in relations with the state budget. + Article 212 In the revenue and expenditure budget of the ministries, the other central state bodies and in the local budgets, as well as in the revenue and expenditure budget of the units subordinated to them, transfers of budget credits can be made, starting with the second quarter of each year, subject to the following conditions: a) be approved before the expenses are incurred; b) the availabilities used must not come from budgetary appropriations provided for retributions, including the tax on the total retribution fund and the contribution for state social security, investment and capital repairs, from the amounts put to provision of budgetary reserve funds or other funds the destination of which has been established by legal provisions; c) not to increase the approved budget credits for the maintenance and functioning of state bodies; d) not to increase the amounts provided in the budget for the completion of the own resources of some state institutions, except in situations where, on the basis of legal approvals, the labor retribution fund is supplemented, approved to them. + Article 213 The transfers of budgetary appropriations shall be approved by: a) The Ministry of Finance, in situations where credit transfers are made from one chapter to another of the budget classification; b) the ministers and heads of the other central state bodies, for the transfers of budgetary appropriations from one subchapter to another within the same chapter, and from one article to another within the same subchapter of the budget classification; c) the committees and executive offices of the popular councils, for the transfers of budgetary appropriations from one subchapter of expenditure to another within the same chapter of the budget classification; d) the chairpersons of the committees and executive offices of the popular councils, for the turns from one article to another within the same subchapter of the budget classification; e) authorising officers, for the transfers of credits from one paragraph to another within the same article of the budgetary classification in the case of the institution's own expenses. + Article 214 In situations where, on the basis of legal provisions, there are units, shares or tasks from one plan holder to another, or investment works from the reserves approved for this purpose are introduced, the Ministry of Finance will introduce the corresponding changes in the financial indicators of the plan holders, as well as in the volume and structure of the state budget. + Article 215 (1) If, according to the legal provisions, the planned labor retribution fund is increased, the budget appropriations for retribution, including the tax on the total retribution fund and the contribution for state social insurance may be supplemented by transfers from other categories of expenditure, with the exception of those intended to finance investments. (2) When, according to the legal provisions, the investment plan is increased, the budget credits with this destination may be supplemented by turns from any other category of expenditure, except those for retribution, including tax on the total retribution fund and the contribution for state social security. + Article 216 (1) The budgetary appropriations remaining unused at the end of the first, second and third quarters shall be blocked, except those for the destinations of the central fund and the local fund of the administrative-territorial units of economic and social development or for other objectives and actions of an economic nature. (2) The Ministry of Finance, for units financed from the Republican budget and the executive committees or offices of the popular councils, for units financed from local budgets, may approve the use in the following quarter of budget appropriations blocked at the end of quarters I, II and III at the justified request of the principal authorising officers of the respective republican budget of the authorising officers of the local budgets. ((3) The availability of the budgetary appropriations for retributions, established according to the legal provisions, including the tax on the total retribution fund and the contribution for the related social security, shall be passed to the budgetary reserve fund provided for in the Republican budget In the same way it is done with: the blocked availability from the budget credits for which it was not requested or received, within 45 days from the end of the quarter, the approval of use in the next period; occurred during the year as a result of the non-realization of some objectives or plan tasks that were the basis for the approval of budget funds; other availabilities provided by law. + Article 217 (1) The budgetary reserve funds at the disposal of the executive committees of the county folk councils and the city of Bucharest, constituted according to art. 195, may be used for the new actions or tasks of the nature of those included in the local economic and social development fund or in the other parts of the budget, in the proportions established for them by the annual budgets. (2) In duly justified cases, the works financed from the budgetary reserve fund at the disposal of the executive committees of the county folk councils and of the city of Bucharest, unfinished by the end of the year, will also be covered in the year next to the budget reserve fund. (3) The commitment of the budgetary reserve funds can be made starting with the second quarter, after the conclusion of the accounting account for the first quarter, if at the date of employment the own revenues planned during that period were realized in the county or on the city of Bucharest, as the case may be, and if the necessary conditions are provided for these incomes to be realized throughout the year. (4) In order to cover the expenses related to the restoration of destroyed or degraded works, as a consequence of some calamities of nature, produced in the first quarter of the year, as well as for the further works provided in par. (2) The executive committees of the county folk councils and the city of Bucharest can commit the budget reserve funds even in that quarter. (5) It is forbidden to commit expenses by the executive committees of the popular councils from the budget reserve funds approved in the local budgets for the restoration of improperly executed construction-assembly works, the increase subsidies approved to economic units or state institutions, as well as to supplement the maintenance and operation expenses of the local bodies of the state administration, except for capital repairs with an urgent nature buildings used for administrative activities and works of connections and other Installations. (6) In case of non-fulfilment of the planned own income in total county, the budget reserve fund that can be used shall be reduced by the equivalent of the unrealized incomes at the date of employment of the budget reserve fund + Article 218 (1) In order to cover the temporary gaps occurring during the year between the expenses and incomes of the budgets of the communes, cities, municipalities and sectors of Bucharest, the committees or executive offices of the folk councils of higher hierarchical administrative-territorial units may grant loans from the available resources of their budgets. The right to approve these loans may be delegated by the committees or executive offices of the popular boards to the principal authorising officers or their rightful replacements. (2) If the gaps also occur at the level of the budgets of the counties and the city of Bucharest, their temporary coverage can be made by granting loans from the available resources of the Republican budget, by the Ministry Finance, at the justified request of the executive committees of the popular councils. + Article 219 The revenues that are achieved above those established by the Republican budget will be able to be used during the year, with the approval of the Council of Ministers, to finance new tasks on the national economy and social-cultural actions. + Article 220 (1) The committees and executive offices of the popular councils may use the amounts collected from the own incomes of the local budgets above those planned only with effect from the third quarter of the plan year, to cover some expenses economic and social-cultural activities, introducing the corresponding changes in the local budgets under the following conditions: a) the excess of the proceeds to be made on the totality of the own incomes planned in the respective local budget and to be maintained until the end of b) the income pluses come from the activity of the plan year and not be the result of changes in the legislation or certain undervaluations found by the bodies of the Ministry of Finance or other bodies with control powers. ((2) The amendments made in the local budgets, according to the provisions of this article, are subject to the ratification of the popular councils, at the first session + Article 221 The committees and executive offices of popular councils can cancel decisions of committees and executive offices of lower hierarchical folk councils through which they have been approved, without complying with legal norms, additional income plans. and expenses, credit transfers, changes in quarterly allowances or other changes in local budgets. + Article 222 (. The budgetary appropriations remaining unused at the end of the budget year shall be cancelled by the effect of the law (2) Any amount due, but not paid from the budget, as well as any amount due but not collected to the budget until December 31 shall be paid, respectively shall be collected, in the account of the budget for the following year. (3) In exceptional cases, the Council of Ministers may approve some expenses, after the end of the budget year, from the budget of the expired year for operations executed but not settled until the end of the year. + Article 223 ((1) The surplus of the republican budget shall be used for economic and social-cultural actions or for other actions, under the conditions established by law, or as a credit resource of the national economy. (2) The annual balances of local budgets shall be provided as income in those budgets for the following year. (3) Any differences resulting in addition or minus after the end of the budget year, compared to the balances provided in the local budgets, shall be regularized with the Republican budget, with the exceptions provided by the legal provisions. + Article 224 On the basis of the accounting statements presented by the ministries, the other central state bodies and the executive committees of the county folk councils and the city of Bucharest and following their verification and analysis, the Ministry of Finance develop the work on the general account for the closure of the budget year, which it presents to the Council of Ministers. + Article 225 The Council of Ministers analyzes the works submitted by the Ministry of Finance and draws up the general account for the conclusion of the budget year, which it presents, after its examination by the Supreme Council of Economic and Social Development, to adoption of the Grand National Assembly, together with the verification corintake of the Higher Court of Financial Control. + Article 226 (1) The Grand National Assembly shall adopt the general account for the closing of the budgetary year, at the latest by the end of the year following the one to which it refers. (2) Similarly, the People's Boards shall approve the general accounts for the closure of the local budgets, drawn up by the respective executive committees or offices, as the case may be. + Chapter 10 Duties and responsibilities in the development and execution of the revenue and expenditure budget, the state budget and the other financial plans + Article 227 (1) The Council of Ministers, supreme body of the state administration, exercises the general management of the activity in the field of finance, is responsible for the elaboration of the draft state budget, as well as its realization after its adoption by the National Assembly. (2) In the exercise of its duties, the Council of Ministers shall periodically examine the financial situation on the economy and branches or sectors of activity, as well as the implementation of the revenue and expenditure budgets, the state budget and the other plans financial, performs the analysis of the economic and financial activity on the basis of the balance sheet, establishes measures to maintain the financial, monetary and currency balance, to further strengthen the role of finance and credit in economy. (3) At the same time, the Council of Ministers shall take measures to strengthen the liability in the management of public money, the establishment of a severe savings regime, the reduction of consumption, the control of any form of waste. + Article 228 (1) The Ministry of Finance shall perform the party and state policy in the field of finance and shall act to ensure the financial, monetary and currency balance of the country. (2) At the heart of the Ministry of Finance's activity must be the concern for the continuous increase of efficiency in the + Article 229 The Ministry of Finance has the following tasks, responding to their fulfilment: a) participate in the development of the country's five-year and annual economic-social development forecasts and plans; elaborates, in collaboration with the State Planning Committee, the centralized financial plan, the proposals for plan on expenditure of production and circulation, as well as indicators of economic efficiency; b) prepares the works on the elaboration of the draft state budget; pursues and controls the execution in good conditions of the state budget; directs and controls the preparation and execution of the revenue and expenditure budget of the units; proposes, as appropriate, measures to strengthen the liability in the management of funds, their rational use, the removal of deviations and the strengthening of the financial and financial discipline; c) collaborates with the central synthesis bodies in the elaboration and pursuit of the balance of income and money expenses of the population, of the loan and house plans, of the balance of external payments and of the balance of receivables and commitments external; d) ensure the financing of the branches of the national economy on the basis of the provisions of the single national plan, the state budget and the revenue and expenditure budget; e) exercise, according to the law, on behalf of the state and to defend its interests, control over the economic and financial activity of ministries, other central state bodies, banking institutions, executive committees of councils people, plants, businesses, as well as other socialist units; f) analyze and endorse the technical-economic indicators provided in the legal documentation for the investment objectives, according to the law; g) organizes, directs and controls the establishment and collection of state revenues due by socialist units; directs and controls the way of determining taxes, identifying incomes and collecting taxes and fees from the population; h) elaborates, on the basis and in order to execute legal provisions, methodological norms on financial planning, execution of the state budget, establishment and collection of state revenues, bookkeeping of socialist units; establishes the budgetary classification of revenue and expenditure; i) participate in external negotiations in financial-currency matters, economic cooperation, as well as international organizations of a financial nature; j) pursues, together with the Ministry of Foreign Trade and International Economic Cooperation and the Romanian Foreign Trade Bank the fulfilment of financial obligations, according to the contracts concluded in the framework of economic cooperation actions and Technical-scientific; k) represents the state as a subject of rights and obligations before arbitral, judicial bodies, as well as in any other situations in which it participates directly in its own name to legal relations, in cases where the law does not establish, in this purpose, another organ; l) also fulfils the other duties provided for in its law on organization and functioning or in other legal provisions. + Article 230 The Ministry of Finance participates, together with the Central Statistics Directorate, the State Planning Committee, the Ministry of Technical-Materials Supply and Management Control of Fixed Funds, banks and other central bodies interested in the organisation of the national wealth. + Article 231 The Ministry of Finance together with the State Planning Committee, Ministry of Technical-Materials Supply and Management Control of Fixed Funds, Central Statistics Directorate, banks, other central bodies and ministries, analyze systematically, on the basis of accounting balances, the results of the activity on the whole economy, on branches and sectors of activity, volume and structure of stocks and take or propose measures to improve the economic and financial situation of the units Socialist. + Article 232 The National Bank of the Socialist Republic of Romania, the Bank for Agriculture and Food Industry, the Investment Bank and the Romanian Foreign Trade Bank, as state bodies, perform and ensure the application, in their activity, of the party's policy and the state in the monetary and credit fields, according to the provisions of this law and their laws and statutes of organization and functioning. + Article 233 ((1) The banks have the obligation to control, on behalf of the state and for the defense of its interests, how the funds are constituted and keep their records, how the material and money means are used by the socialist units and to take measures to identify new possibilities to increase revenues, to collect all and to term the rights in lei and in foreign currency of the state, to carry out expenses in a severe savings regime and in accordance with the destination established by the plan, to ensure the timely return of the loans granted. ((2) The banks shall act to carry out the tasks arising from the loan and house plans and for framing the money circulation within the approved limits. They will release funds only within the limits of approved plans and in compliance with legal provisions. + Article 234 The banks, each in its sphere of activity, have the following tasks, responding to their performance: a) participate in the elaboration of the single national economic and social development plan; b) exercise control over the fulfilment by economic units of production plans, circulation of goods and budgets of incomes and expenses, household of material and monetary funds, as well as the use of means circulating, taking operative measures to strengthen the discipline in the field of credit and settlements; c) perform credit operations, settlements and other banking operations, as well as the control of the use of the retribution fund; d) perform the operations on the execution of the state budget; exercise, according to the legal provisions, the control of the realization of state revenues and the performance of the budget; e) participate in the development of the balance of external payments and its pursuit; f) concludes banking arrangements in the application of payment agreements, credit agreements and other external financial arrangements; performs financial-banking cooperation actions. + Article 235 The National Bank of the Socialist Republic of Romania, as a central bank and issue, has the following special tasks, responding to their fulfilment: a) issue and put into circulation bank tickets and coins, according to the legal provisions; b) organize and coordinate the monetary circulation, as well as the activity on short-term lending and settlements in close accordance with the requirements of the development of the national economy; from the sphere of money circulation and credit, in the process of carrying out the plan, acting to ensure the normal evolution of money circulation and credits; c) elaborates, together with the specialized banks and other central bodies provided by the legal provisions, the projects of the house plans and credits on economy, based on the tasks provided for in the single national plan and the state budget; d) give credit to specialized banks in addition to their funds and follow the management of these funds; e) organize the operations regarding the execution of the state budget, based on the norms given with the consent of the Ministry of Finance; f) establishes, amends or proposes, according to the legal provisions, together with other central bodies, in the course in lei of foreign currencies; organizes and performs, directly or through other socialist units, the exchange; g) participate, together with other central bodies, in the elaboration of draft plans for the distribution and recovery of precious metals; preserves and manages the state reserve of precious metals; h) exercise control of the production, processing and circulation of precious metals, according to legal provisions i) also meets the other duties provided for in the organization law and the status of operation. + Article 236 The Bank for Agriculture and Food Industry and the Investment Bank, as specialized banks, each in its sphere of activity, have the following specific tasks in the field of investments, responding to their fulfilment: a) participate in the development of the investment plan and the establishment of objectives on plants and enterprises, acting in the direction of maximum use of existing capacities and the high efficiency use of investment funds; b) carry out the control over the requests of funds of the investment beneficiaries, following the use according to the norms and legal provisions of the funds provided to them; c) analyze and endorse the technical-economic documentation for investments, under the law; d) organize and perform the operations of financing and lending investments; control the establishment of investment funds and their use according to the destination established by the plan; e) exercise control and act to carry out the investment plan; f) meet the other duties provided for in the organization laws and operating statutes. + Article 237 The Romanian Foreign Trade Bank, as a specialized bank for carrying out operations with abroad, has the following specific tasks, responding to their fulfilment: a) organize and carry out the proceeds and payments on foreign trade operations, administer the availabilities in foreign means of payment; buy and sell in the country and abroad actual currencies, trade effects, as well as securities and foreign obligations; b) conclude correspondent arrangements with banks and foreign financial institutions; c) receives and grants credits in foreign currency from and abroad for which purpose concludes conventions or other credit arrangements; grants loans in foreign currency to Romanian economic units with foreign trade activity, as well as to mixed companies based in the country, in accordance with legal rules; d) issue trade effects in favour of beneficiaries from abroad and accept trade effects issued on it; it has and is having trade effects issued by third parties, issues and receives guarantees for payment arrangements abroad; e) also performs the other duties provided for in the organization law and the status of operation. + Article 238 In the exercise of their duties, the National Bank of the Socialist Republic of Romania and the specialized banks shall develop, on the basis and in application of legal provisions, methodological norms on the planning and granting of credits for production the movement of goods, the financing and lending of investments, the making of cashless payments and cash operations, the performance of external settlements, the calculation, the release and control of the use of the retribution fund and of other banking operations. + Article 239 The House of Savings and Consemnations of the Socialist Republic of Romania, as a banking institution specialized in relations with the population, has the following duties, responding to their fulfillment: a) organizes the attraction of the money savings of the population; performs reception operations for their preservation and the recorded amounts; b) carries out operations to credit the population for the construction of personal property and for the purchase of housing from the state fund, as well as in other cases provided by law; c) perform operations on the execution of the state budget and other operations of receipts and payments and ensure the banking service of the units and organizations that keep their money means in the accounts at C.E.C.; d) also performs the other duties provided for in the organization law and the status of operation. + Article 240 (1) The credit cooperatives shall provide their members with loans from their own funds, for the purposes and under the conditions laid down in their statutes and other legal provisions. (2) Credit cooperatives may perform, on the basis of concluded conventions, mandate operations for other institutions. + Article 241 The State Insurance Administration has as its powers, the fulfilment of which it responds, the organization of the activity of insurance of goods, persons and civil liability, the establishment or proposal of measures for the purpose of their continuous development perfecting specific instruments and improving the service of insured persons, as well as other tasks provided by the law on organization and functioning. + Article 242 (1) The Financial-Banking Council, advisory body of the Council of Ministers, analyses the phenomena and trends that arise in the financial, monetary and currency fields, elaborates studies and analyses and presents proposals for measures for the living translation of the financial and monetary policy of the party and the state, increasing the efficiency of material and monetary funds, strengthening the purchasing power of the national currency, the active use of financial markets. (2) The Financial-Banking Council acts and establishes measures, according to the law, for the vigorous application of the financial policy of the Romanian Communist Party to the economy and for the use of the financial pyramid in the control of economic and social activity. + Article 243 (1) The Superior Court of Financial Control, organ of the State Council of the Socialist Republic of Romania, exercises, according to its law of organization and functioning, preventive and subsequent financial control, following the observance of party decisions and the laws of the country, the increase of economic and social efficiency of funds in all fields of activity, the judicious management of material and money means, the strengthening of financial discipline, the support of socialist units in the establishment of solutions and measures to prevent and eliminate deficiencies, improve their economic and financial activity; they exercise jurisdictional powers regarding the patrimonial liability for damage to the public property and administrative liability for violating the legal provisions of a financial nature. (2) The Superior Court of Financial Control directs and coordinates the financial-banking control activity, ensuring the unit of conception, the method and its conduct. + Article 244 Ministries and other central bodies, in the performance of their tasks in the financial field, shall act and shall be responsible for: a) elaboration of the revenue and expenditure budget and ensuring the fulfilment of its provisions; full realization, on the whole of the ministry and on each subordinated unit of the benefits and of the other planned cash accumulations, resources for the financing of investments, the timely fulfilment and in the agreed proportions of obligations regarding the return to the company of the amounts received for investments and circulating means, as well as the obligations concerning the state budget; the constitution and the legal and efficient use of the funds; b) increase of the efficiency of exported products, executed works and external services provided, effective implementation of international economic and technical-scientific cooperation actions; c) analysis based on the balance sheet of the economic and financial activity of subordinated units and taking measures to improve its continuous improvement, to increase the contribution of branches to the economic and social development of the country; d) systematic exercise of control over the activity of subordinate units, for the realization of incomes and framing in the expenses provided in the revenue and expenditure budget, the use with high efficiency of the technical-material basis which have; e) the performance of other tasks provided by legal provisions. + Article 245 Executive committees of the county folk councils and the city of Bucharest, the municipalities and sectors of the city of Bucharest, as well as the executive offices of the popular councils of cities and communes, in carrying out their duties return to the financial field, act and respond, as appropriate, to: a) ensuring the self-financing of administrative-territorial units through the permanent increase of their own incomes; b) the elaboration and execution in good conditions of the revenue and expenditure budget and of the revenue and expenditure budgets of the lower hierarchical administrative-territorial units, as well as of the other subordinate units; legal and effective use of funds; c) elaboration and pursuit of financial plans in territorial aspect; d) the organization, guidance and control of the activity of local specialized bodies regarding the establishment and collection of taxes, fees and other budgetary revenues; e) systematic exercise of control of economic and financial activity of subordinated units in order to strengthen self-management and self-management, discipline of plan and financial, as well as defence of obstesc; f) the analysis of the accounting balance sheets and the taking of measures for the continuous improvement of the economic and financial indicators of the subordinated units; g) performance of other tasks provided by the legal provisions. + Article 246 (1) In carrying out the tasks in the field of local finance, besides the executive committees of the county and county councils are organized, as specialized local bodies, financial administrations, which are subordinated and Ministry of Finance (2) The financial administrations have the following tasks, responding to their performance: a) prepare the works on the elaboration of the draft revenue and expenditure budget and local budgets; b) aim to execute in good conditions the revenue and expenditure budget, the local budgets, as well as the way in which the financial indicators are carried out by the local units, according to the destination and within the established limits, in compliance with legal provisions; c) elaborates, in collaboration with the territorial planning bodies and with the banking units, the financial plan in territorial aspect and periodically follow its realization; d) participate in the elaboration of draft credits plans and of the house plan, as well as to follow the realization of these plans; e) perform, according to the legal provisions, the imposition of natural and legal persons and establish the first to insurance by law; f) aim to collect all taxes, taxes and other incomes of local budgets, as well as premiums to insurance through the effect of the law; g) organize the financing operations and the records of the execution of local budgets; h) draw up reports on the execution of local budgets and develop the works on the account for the end of the budget year; i) participate in the elaboration of planning works in territorial aspect; j) guide and control the activity of the local lower hierarchical specialized bodies; k) perform other duties, according to the legal provisions. (3) Besides the executive committees of the municipal folk councils and the executive offices of the city folk councils are organized financial constituencies or financial services, as the case may be, Previous paragraph, adapted to their specifics. + Article 247 (1) The coordination in territorial aspect of the measures on the application of party and state policy in the financial, monetary and credit fields is carried out through territorial financial and banking commissions, which are organized in each county and at the municipality Bucharest. (2) The territorial-banking financial commission shall examine the draft financial plan in territorial aspect and its implementation; coordinate the control activity on state revenues and taxes and fees from the population; organize at the units of Republican interest and local complex analysis and control actions on the elaboration and substantiation of the revenue and expenditure budget, the management of material and monetary resources, the observance of the plan and financial discipline and the the legal provisions in the field of prices; fulfillment of the loan plans, the house, the use of investment funds and the economic and financial results of the socialist units in the county; examine problems regarding the bookkeeping and organize the verification and analysis to the financial-banking and statistical bodies of the annual accounts of the socialist units; it also analyzes other problems in the financial, monetary and credit fields, which are of particular interest. + Article 248 Plants and businesses, in fulfilling their obligations in the financial field, act and respond to: a) elaboration of the revenue and expenditure budget and ensuring the fulfilment of its provisions; full realization of the benefits and other planned cash accumulations, of the resources for the financing of investments; the proportions established by the plan of obligations regarding the restitution to the company of the amounts received for investments and circulating means, as well as the obligations regarding the payments to the state budget; efficiency of funds; permanent maintenance of payment capacity; b) increase of the efficiency of exported products, executed works and external services provided; effective implementation of international economic and technical-scientific cooperation actions; c) use with maximum efficiency, under the conditions established by law and in accordance with the provisions of the plan, of material and labor resources, of production and investment funds, ensuring the permanent reduction of production expenses and, in particular, the material ones; the continuous strengthening of economic and financial self-management; d) the organization of accounting records and the exercise of rigorous financial control over the manner in which the laws and decisions are applied, the provisions of the higher hierarchical bodies and their own decisions, to strengthen the responsibility, order and discipline in the management of material and money means; e) the performance of the other duties established by the Law on the organization and management of the state socialist units and by other legal provisions. + Article 249 (1) The collective management bodies of the socialist units ensure the direct participation of the working people in the management of the entire economic-financial activity, the debate and the resolution of important economic and financial problems of the the establishment and shall be responsible for the development and implementation of the measures necessary to carry out the tasks (2) The councils of the working people are required to present to the general assembly of working people, for adoption, the revenue and expenditure budget, the analysis of the economic and financial activity on the basis of balance sheet, the tasks and objectives the following and the organizational and technical measures in order to achieve them. + Article 250 (1) The leader of the socialist unit and the head of the financial-accounting department shall respond to the state and to the collective of working people of the unit, to comply with the plan, contractual and financial discipline, to take the measures for ensuring the integrity of the obstesc wealth, the efficient development and management of material and monetary resources, having the obligation to refuse, under the law, any patrimonial operation that contravenes the legal provisions. (2) The commitment of the material and monetary expenses of the unit shall be made, according to the law, only by the director and head of its financial-accounting department. (3) The head of the financial-accounting department shall have the obligation to exercise preventive financial control regarding the economic efficiency indicators on the technical-economic documentation, before the presentation to the approval, following, in In particular, ensuring the production of production on the domestic and export market, as well as its competitiveness in terms of quality and efficiency, obtaining efficiency indicators superior to those achieved at the existing production capacities similar, also taking into account technical and economic evolution in perspective, reduction cost of investments At the same time, it exercises preventive financial control over the documentation committing payments in foreign currency, aiming at ensuring the efficiency of the funds used and framing in the planned financial and currency balance + Article 251 The leader of the socialist unit at the appointment takes over, under the law, the administration of the patrimony of the unit by contract assuming the commitment and responsibility to manage carefully and efficiently and to develop the material means and Unit money. + Article 252 The head of the financial-accounting department shall be responsible for the financial and accounting activity, for which purpose: a) ensure, in accordance with the legal provisions, the preparation of the revenue and expenditure budget, as well as the pursuit of the fulfilment of economic and financial indicators and take or propose measures to increase profitability, accelerate the speed of rotation of the circulating means, the realization of the resources of establishment of own funds, the judicious management of these funds, the other material and money means and the fulfillment of the financial obligations of the unit; b) organize accounting and accounting balance sheets; c) ensure the performance of the tasks assigned to the financial-accounting department regarding the preventive financial control, the current operative control and the analysis on the basis of the results of the activity of the unit; planned and their use according to the destination, in compliance with legal provisions. + Article 253 (1) The head of the financial-accounting department, as well as the bodies responsible for carrying out the preventive financial control will refuse the visa for the orders, contracts, settlement documents and other documents from which obligations financial, for supplies more than necessary or related to the manufacture of products without an insured sale, as well as for the documents resulting in the exceeding of the normal consumption of materials and workmanship. (2) The preventive financial control bodies shall respond together with the management of the socialist units where they have granted a visa for non-national supplies or for the introduction into the manufacture of products without an insured sale. + Article 254 The heads of the supply, production, sale, organization of labor and other compartments, each in its sector of activity, have the obligation to concern themselves with the increase of economic efficiency, to respect the discipline of the plan, financial and contractual and respond, under the law, to the establishment of requests and orders of materials in strict accordance with the planned production, framing in approved production expenses, compliance with the legal provisions regarding to consumer norms, stock levels, quality and undoing products, staff classification and retribution, as well as other provisions governing economic activity. + Article 255 The obligations incumbent on the head of the financial-accounting department, as well as the heads of the other compartments, shall be entered in the contracts concluded on their appointment, based on the provisions of this Law and other provisions Legal. + Article 256 The leaders of the socialist units, the other persons with management positions, as well as the subordinate staff, each on the basis of the established duties, shall respond to disciplinary, material, civil, contravention or criminal, as the case may be, when they do not their obligations. + Chapter 11 Final provisions + Article 257 (1) This law shall enter into force on 1 January 1973. (2) The same date shall be repealed Law no. 3/1949 on the preparation, execution and conclusion of the general budget of the Romanian People's Republic, Decree no. 265/1949 on the obligation of written contracts and regulation of payments between undertakings and economic organisations Decree no. 485/1954 concerning the authorization of the Ministry of Finance to approve additional financial plans, as well as any other provisions to the contrary. + Article II The amendments and completions ordered by this law shall apply from the activity of 1979. They are subject to the obligation of restitution and the amounts received in 1978 from the plants or from the state budget for financing investments, reduced by the depreciation of fixed funds and other resources for investments paid to the plants in this period.