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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LAW No. 2 of 6 July 1979 amending and completing Law No. finances 9/1972 NATIONAL ASSEMBLY ISSUING Published in OFFICIAL GAZETTE No. 59 from 13 July 1979 National Assembly of the Socialist Republic of Romania adopts this law.


Article I Finance Law nr. 9, published in the Official Gazette of the Socialist Republic of Romania No. 136 of 26 November 1972, alter it and make having following contents: LAW and multilateral Development FINANCE in the sustained national economy, on the basis of the programme of the Communist Party of faurire socialist society and advancing multilateral developed Romania toward communism, requires continuous management improvement and economic-financial planning, picking up on a Centaur upper stage of efficiency in all areas of activity.
In these circumstances, substantial role and grow the finance functions of the entire economic and financial mechanism for ensuring the continuous progress of the national economy, stimulating the growth of production materials, determining optimal proportions and rates of economic growth, ensuring financial balance, currency, monetary and judicious distribution of national income for the national economic and social development and the consumer, as well as in raising the living standards of all the people.
In the process of elaboration and completion of the single national plan, the State budget, budgets of income and expenses, Ministry of finance, banks, ministries, other Central and local bodies, governing bodies of collective economic labour, all men must work systematically that each Socialist Unity to operate under conditions of high-efficient economic development, to ensure the full use and increased efficiency of material assets and money realization of order and discipline, the use of these materials, reduction of costs and increased net production, promoting technical progress, increasing labour productivity, judicious use of funds intended for investment, enhance the effectiveness of export and actions of economic cooperation and technical-scientific.


Chapter 1 objectives and basic principles of finance Article 1 (1) actively participate in the realization of Finance policy of the Communist Party of economic and social development of the country and lifting the living standards of the people's spiritual and material.
  

(2) through finance ensure the establishment, use and planned allocation of the monies of the company for increasing production materials, supported the growth of the forces of production, promotion of the activity of scientific research, technological development and the introduction of technical progress, development of education, culture, healthcare.
  

(3) contribute to Finance the elaboration and implementation of the national plan unique to the smooth functioning of the economic and social Council and to the realization of workers ' self-management, of economic and financial self-administration units.
  


Article 2 (1) shall be exercised through the finance control and continuous process of social production, in order to obtain an effective economic and social development as well as higher in all areas of activity and more judicious management of money and material means at the disposal of the company.
  

(2) economic and financial management instruments must stimulate the development of production and disposal, the provision of services, investment and export, increasing the competitiveness of Romanian products in the export market, with superior results to money and material means at the disposal of the company, accelerating the speed of rotation of funds, as well as obtaining higher yields with lower costs as well as social work and, on this basis, increasing national income, systematic.
  


Article 3 In the realization of economic and financial policy, the harmonious and balanced development of the national economy, the finances have the task of ensuring, within the framework of general economic equilibrium, keeping financial equilibrium, monetary and exchange rate, contributing to consolidating and increasing the purchasing power of the national currency, both internally and against other currencies.


Article 4 (1) economic units are obliged to ensure that expenses on behalf of their own revenues and to be released in a shorter period, as well as money funds, according to the principle that the sums advanced by the company and must be returned.
  

(2) every economic unit, based on the results obtained, must contribute to the formation of the necessary funds, the company's General to constitute their own development funds as well as funds of cointeresarii material of people working groups, corresponding to the programme to increase the standard of living established by the party and the State.
  


Article 5 (1) economic units in the State are obliged to pay to the State a share of newly created value in the form of sampling to society part of net production value.
  

(2) the levy company of net production value constitutes a contribution from each of the State's economic units in the formation of funds necessary for the development of society.
  

(3) the levy company of net production value is calculated on the total economic unit by applying a percentage on the value of net production determined by law and shall bear the direct financial results.
  


Article 6 according to the principles of democratic centralism and economic and financial self-administration units, through economic and financial policy ensure both focusing and directing financial resources towards fundamental development goals infaptuirii economic and social rehabilitation of the country, as well as increasing initiative, responsibility and decision-making power and action of the organs of the Socialist collective leadership in the use of the part of the national wealth that has been entrusted to the administration toward.


Article 7 Financial Relations and monetary circulation, it unfolds programmatically based on a unitary system of financial plans, which includes the budget of revenue and expenditure of the socialistic financial plans and units at the level of the national economy.


Article 8 (1) the own funds of the Socialist units, and any other money funds, shall be used only in accordance with the provisions of the single national plan for economic and social development and budget of revenue and expenditure and in compliance with rules and norms laid down according to legal provisions.
  

(2) no expense, regardless of the support funds, does not endorse and shall not be made unless it has been approved beforehand according to the law, by the head of the financial-accounting compartment or other persons charged with the exercise of preventive financial control of Socialist, and other organs with such powers in the economy.
  


Article 9 (1) Groups of people working in each unit are responsible for the proper Socialist management of money and material assets, conducting with maximum efficiency of all activities, to obtaining higher economic-financial results by increasing production, enhancing labour productivity, reduction of expenses.
  

(2) the bodies of collective leadership of the Socialist units shall be responsible for the efficient use of the funds entrusted to the society of these units and their own incomes necessary refund monies advanced society, paying the sums due State budget or hierarchically superior body, establishment of own funds, subject to the completion of the planned currency, as well as resources and judicious management and use of all material resources and money.
  

(2) the Socialist Drives ensure strict record keeping and control rigorously and systematically on all material assets and money, economic processes and the results obtained.
  


Chapter 2 the formation and distribution of monies into national economy section I the national economic and social development and consumer Fund in article 10 (1) In the Socialist Republic of Romania, the national income with the new value created in the industry, agriculture, construction, transportation and other fields, is the source of the money funds what is economics.
  

(2) national income allocated to the national economic and social development of the country and the Fund.
  


Article 11 the national economic and social development in monetary expression is composed of a unitary system and related funds, which includes: a central Fund) economic and social development;
  

b) local fund economic and social development established by administrative-territorial units: counties, municipalities, cities and municipalities;
  

c) the own funds of the economic and social development of the State-owned economic units: Enterprise and Central;
  

d) the own funds of the economic and social development of cooperative units, artisan and agricultural consumption, as well as of other organizations;
  

It's used by population) the funds for housing construction and household, increasing production and livestock, and for other similar purposes.
  


Article 12 (1) central Fund for economic and social development are formed under the republican budget, its revenues.
  


(2) the local Fund for economic and social development established by administrative-territorial units are formed within the budgets of municipalities, counties, towns and communes: their revenues, apart from the resources of the State budget, from Socialist units, as well as the financial contribution of the population, according to the legal provisions.
  


Article 13 the central Fund and fund local economic and social development must be used in compliance with the national plan and the State budget, the Socialist state units to finance investment and overheads, establishment of State reserves, other actions and economic targets, the development of material base of social-cultural State and State bodies, as well as for other purposes provided for by laws.


Article 14 of the consumption Fund is the responsibility of the working people and their family members, according to the law, on the following horses: remuneration after the quantity, quality and importance of social work, social benefits and remuneration from the State budget funds or from own funds of Socialist units.


Section II own funds of economic entities of State in article 15 (1) the own funds of economic entities of State be formed on account of the benefit funds, fixed assets depreciation and other resources laid down by law.
  

(2) the benefit is part of the newly created value in productive activity of economic units, formed after the allocation of the following elements: sampling to society part of the net value of production; harassment of staff and worker rights; the costs of research and for the introduction of new technology; the tax on the total remuneration; contribution for social insurance; other expenses with work.
  

(3) sampling of the value shares net production and arrangements for payment of the levy shall be fixed by Decree of the State Council.
  

(4) Funds are subject to depreciation in fixed assets to ensure their reproduction, stimulating their use with enhanced economic efficiency, as well as to promote technical progress and sustainable growth in productivity and social work.
  

(5) the training, planning, destination and paying fixed benefit amortization funds and shall be determined according to the law.
  


Article 16 (1) the own funds of the economic and social development of the State-owned economic units are formed and used in accordance with the law, separately and are the following: a. The enterprises: the economic development fund);
  

b) Fund overheads;
  

c) Fund for housing construction and other social investments.
  

B. The Central: a Fund for financing investments) to new businesses and to finance development;
  

(b) the Reserve Fund) for the current means.
  

(2) in the case of subordinated directly to the ministries, other Central and local bodies of State administration, funds for white and rosé wines. ) and (b)) provided to hierarchically superior organs of such undertakings.
  


Article 17 for the working people to the benefits, as well as to ensure the social part of the remuneration from its own resources, State-owned enterprises constitute the following funds: the participation Fund) working people;
  

(b) Social Action Fund).
  


Article 18 Undertakings can constitute separate from the funds referred to in article 1. 16 and 17, the following own funds: the Fund for scientific research), technological development and the introduction of technical progress;
  

(b) labour protection fund);
  

c other funds as provided by) laws.
  


Article 19 the provisions of this law relating to the enterprise's own funds is applied properly and industrial plants and establishments treated as such for their own activities.


Article 20 (1) Economic Development Fund of the Enterprise shall be set within the limits of its investment expenditure, drawn up on the basis of a single national annual budget of revenues and expenses-with the exception of major development as provided by law and the construction of housing and other social investment-and the rates of bank credit due to financing investments including interest attached to them.
  

(2) the sources of formation of this Fund are: depreciation of fixed funds remaining after the repayment of funds received by the company for investment and other resources for financing investments, such as those arising from the sale of materials, parts and assemblies resulting from removal from service of fixed funds, after deduction of the expenses, and gains realised in the framework of the plan and over the plan, subject to the conditions provided by law.
  


Article 21 Fund overheads of the enterprise consists of gains realised in the framework of the plan and other resources, subject to the conditions provided by law, within the limits of an annual quota increase planned to total fixed overheads with the State budget and rates are returned to the State budget of the amounts received by us businesses to cover working capital needs in the first year of operation.


Article 22 (1) the Fund for the construction of housing and other social investments are subject to a maximum expenditure for these objectives, established on the basis of a single national annual budget of revenue and expenditure and rates from bank loans due in completion, including interest thereof.
  

(2) the sources of formation of this Fund are: depreciation relating to housing and other social fixed assets, proceeds from the sale of fixed funds with socially decommissioned, income from cultural events in a quota established by the Council of the working people, the benefits achieved under the scheme and plan and other income, as provided by law.
  

(3) Fund for housing construction and other social investment is used for building housing for the staff worker, as well as for the construction and equipping of the workers, creselor, gradinitelor, canteens, clubs, and other social investments.
  


Article 23 (1) of the plant's own Fund to finance investments in new units with legal personality, including the construction of housing and other social investment for these units, as well as to finance major subordinate enterprises development, which are in operation, established in single national plan according to schedule. 1 to this law, shall be set up within the limits of the funding needs, set out according to the plan and the provisions laid down by law.
  

(2) the sources of formation of this Fund are: depreciation of fixed funds taken from businesses, including the difference of depreciation since the formation of the own funds of the company, payments of the benefits of enterprises responsible for the repayment of funds received by the company for financing investments, other resources provided by law, payments from the State budget.
  


Article 24 (1) Availability in late economic development fund of the enterprise and investment fund set up by the central or assimilated from the own resources of economic entities, use the next year to finance investments, according to the law. Neutilizata, and the difference in depreciation after the Investment Fund's own station, spill from the State budget.
  

(2) the amounts remaining unused at the end of the plan for the construction of housing and other social investment coming from its own resources shall be carried over to the next year with the same destination, according to the provisions of the plan.
  


Article 25 Reserve Fund for what constitutes the current Central is formed by taking a rate of 0.5 percent of the annual increase of the working capital fund constituted by the undertakings responsible and is used for filling temporary working capital needs of the undertakings responsible and other expenses provided for by the law.


Article 26 (1) State-owned enterprises are obliged to repay funds received for financing investments, as well as to cover the amount of working capital to businesses in our first year of operation.
  

(2) For new enterprises, the obligation of restitution of amounts received for financing investments in the next year begins the implementation of the respective investment objectives.
  

(3) reimbursement of amounts received for financing investments are made from the depreciation of assets and funds from the benefits planned in odds provided by law, inasmuch as the obligation to refund cannot be covered in the plan year from depreciation funds. Payments shall be made at Central and are used by it at its own Fund for financing investments.
  


(4) the amounts advanced from State budget to cover the working capital needs of new business in the first year of activity, shall be released within the time limits set by law through payments to the State budget after putting into operation of the unit in question, the overheads.
  


Article 27 (1) every establishment must carry out an economic activity profitable.
  

(2) For assurance activities and development of the supply of raw materials, as well as for special activities as provided by law, the State may not, in exceptional cases, grants from budget establishments that plan cannot cover in full the expenses from its own revenues. Funds from the budget and shall be granted for prospecting and geological research approved by the single national plan, as well as for conducting complex research of general interest have been approved according to law.
  

(3) Units are granted subsidies from the budget is approved annually with the State budget.
  

(4) The economic units that fail to cover their own expenses from income, other than those referred to in paragraph 1. (2), shall apply to the special economic and financial supervision established by this law.
  


Section III the own funds of public and cooperative units in article 28 (1) the own funds of the economic and social development of the cooperative agricultural units, artisan and consumer and other civic organizations are the following: (a) Economic Development Fund);
  

b) Fund overheads.
  

(2) The artisan cooperatives and consumer is longer and the Fund for construction of housing and other social investments.
  

(3) the funds referred to in paragraph 1. (1) consists of gains realised, depreciation of fixed funds and other resources.
  

(4) The cooperative agricultural units, artisan and consumption, economic development fund be set up and the amount of money you can submit annually by every cooperator, representing the social property of the value of the public property.
  

(5) it is also mecanizatorii and agricultural specialists, who work in agricultural production cooperatives may apply an annual sum of money to fund economic development cooperative, under the same conditions and to benefit from the same rights as the members of the cooperative.
  


Article 29 of the working people's participation in profits, as well as to ensure the social part of the remuneration from its own resources, cooperative and public units constitutes the following: a. the cooperative agricultural, handicraft Units and consumption: a) the invitation to fund benefits of cooperators and staff employed under a contract of employment;
  

b the participation Fund) benefits for the social side, made up of cash deposits of cooperators;
  

c) Fund for cultural and sports actions;
  

d) other funds for social action.
  

B. economic Associations intercooperatiste: the participation Fund) working people;
  

(b) socio-cultural Fund) and sport.
  

C. agricultural production cooperatives Associations with State or unit of consumption cooperation:-fund the participation of working people from benefits.


Article 30 agricultural cooperation Units, in addition to the funds provided for in art. May 28 and 29, consists of the following own funds benefits: a. agricultural cooperatives: a) Reserve Fund for production and remunerate work;
  

b intercooperatist Benevolent Fund) and consolidation.
  

B. intercooperatiste: economic Associations of Benevolent Fund) and reserve;
  

b) shares due associated cooperatives.
  

C. agricultural production cooperatives Associations with State or unit of consumption cooperation: the Reserve Fund);
  

b) Insurance Fund;
  

c) shares due associated units.
  


Article 31 the order of formation and use of the funds provided for in art. 28, 29 and 30 shall be fixed by the bylaws of the cooperative organizations and the public.


Chapter 3 the budget of income and expenditure and other financial plans.
Highlight the section I national wealth revenue and expenditure Budget and other financial plans in article 32 (1) Directing all financial activity on organisational steps of the national economy, is conducted on the basis of income and expenses and other financial plans, formed into a unitary system.
  

(2) the financial plans include: a) the revenue and expenditure budget of: businesses; central power station; social-cultural institutions and administration; ministries and other central organs; popular communal councils, town, municipal and County; cooperative organizations and the public;
  

b) State budget, consisting of: local republican budget, budgets of communes, towns, municipalities, counties, sectors of Bucharest and Bucharest;
  

House Plan c);
  

d) plans;
  

e) money income and expenses balance of population;
  

f external balance of payments);
  

centralized financial plan g);
  

h) financial plan in territorial aspect of counties and Bucharest.
  


Article 33 the Monetary Relations in the economy what is reflected in the budget of income and expenditure and financial plans is expressed through a system of indicators. Financial indicators for the period of 5 years shall be approved by the law on the establishment of the five-year plan, and the annual law on adoption of the State budget.


Article 34 the budget of income and expenditure and other financial plans shall be drawn up according to the principles and criteria contained in the law on economic and social development plans, as well as the provisions of the present law.


Article 35 (1) the revenue and expenditure Budget and other financial plans are subject to change than in cases where changes occur in economic plans, prices and tariffs, crossings units, actions or tasks between holders of subordinated units or between them, and in other justified cases, according to legal provisions.
  

(2) changes of financial indicators for the periods have expired are forbidden, except in cases specifically authorized through legislation.
  

(3) the tasks of the plan concerning financial indicators may be amended only by the bodies they have approved.
  


Article 36 (1) the budget of revenue and expenditure shall be drawn up in close connection with economic plan and indicators include: a) to the enterprise: revenues, expenses and financial results from its activities, income from foreign trade activity, what constitute own funds at his disposal, bank credits, payments from the State budget, other income, resources and expenditures;
  

b) at: income, expenditures and other financial indicators relating to their own activities and that of the subordinated enterprises, and provided funds at his disposal;
  

c) at the central ministries, other bodies and popular councils: financial indicators own activity and those of economic units and subordinated institutions and, where appropriate, you subordinate administrative-territorial units.
  

(2) plants, Factories, construction sites, groups, enterprises and other units that highlight and track the results of its own distinctive economic, i.e. have separate accounts, drawing up the revenue and expenditure budget, which is an integral part of the budget of the enterprise or plant to which they belong and shall include income, expenses and financial results of its own activity.
  

(3) the revenue and expenditure Budget of the Enterprise integrates into the budgets of income and expenditure shall be drawn up at central level, Ministry or other organ of the central or local level, in accordance with the national plan unique, national budget plans and centralized financial plan in order to ensure the financial balance of the national economy as a whole.
  


Article 37 budget revenue and expenditure shall be drawn up by the governing body of each socialist collective units, on the basis of a plan and the law is adopted by the General Assembly of the working people, which sets out the measures to be taken for its realization.


Article 38 State budget includes income of the centralized State and their breakdown in accordance with the objectives of the national plan for the development of a unique national economic, social and cultural actions, the country's defense and other needs of the society.


Article 39 the House Plan sets revenue and cash payments, the task of putting into circulation or withdraw cash, keeping movements of cash within the normal range, ensure a correlation between monetary income of the population and the goods and services corresponding to the real needs of the economy.


Article 40 plans shall determine the scale of loans loans necessary for the development of the production and circulation of goods, services, investment objectives to units for specific needs of Socialist population and resources.


Article 41


(1) the plan of short-term loans and house plan is developed by the National Bank of the Socialist Republic of Romania and the specialized banks, together with the State Committee of Planning, Ministry of finance, ministries, other central executive bodies and committees of the District Councils and popular of Bucharest and approved by Decree.
  

(2) the plan for the middle-term loans and long shall be drawn up by the Ministry of finance, together with the banks and the State Planning Committee, and approved with progress indicators in the titular single national plan and the State budget.
  

(3) Plans and shall be drawn up in conjunction with the national plan and the State budget and on the basis of the budget of revenue and expenditure of the enterprises, power stations, ministries and other Central and local bodies.
  


Article 42 the balance of revenue and expenditure of the money of the people, which underlie monetary balance should be prepared with a unique five-year national plan and annually by the State Committee of Planning, 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 balance of external payments includes payments and receipts in foreign currency from the export-import activity and international economic cooperation, in the activities of international tourism, international services from external loans received and granted for non-commercial transactions and other actions in dealing with the former Soviet republics.


Article 44 (1) centralized financial plan includes financial resources of the national economy and their destination, sectors and areas of activity, by sectors of national economy and constitute the basic financial balance of the synthesis of the economy, having an active role in the Foundation of the national plan and in ensuring financial balance.
  

(2) centralized financial plan is developed by the Finance Ministry and the State Planning Committee in accordance with other sections of the national plan.
  

(3) the Ministry of finance, together with banks, ministries and other Central and local bodies, take steps for the implementation of the centralized financial plan and is responsible for its execution.
  


Article 45 financial plan in territorial comprises financial indicators concerning the establishments and institutions regardless of their subordination, in the territory of each county and the municipality of Bucharest.


Section II Article 46 national record of Obvious wealth wealth situation all ensuring national knowledge assets available to the company and other components of national wealth, in order to their management as well as more efficient, both on the national economy as a whole and at the level of each Ministry, other Central and local bodies, economic entities or social-cultural, on each of their production activity.


Article 47 (1) the main objective of keeping the national wealth is the goods in the unit Fund of State property of cooperative organizations and goods of other public organizations, claims from the country and abroad, durable goods of the population.
  

(2) the record of national wealth is achieved in monetary expression and ensure based on accounting data and statistics, periodic inventories of goods belonging to the Socialist units, recensamintelor, selective surveys and other investigations with the economic and social character.
  


Article 48 the collective organs of the ministries, other Central and local bodies, economic entities and institutions are obliged to organize and lead a strict record keeping of each Socialist units with the help of accounting, accounting balance sheets and ends to periodically carry out an inventory of all material and monetary assets, rights and obligations, in accordance with the legal provisions.


Chapter 4 financing and crediting the production, movement of goods and investment section I General provisions Article 49 (1) the assets are made up of raw materials, fuels, developing manufacturing production, finished products, semi-finished goods, and other values, as determined by legislation.
  

(2) total working capital Requirements are determined by the budget of income and expenditure, based on the stocks and expenses by nature overheads, dimensioned according to plan tasks, the rules on stock and working capital requirements. Economic units may be temporary, seasonal stocks, stocks of reserve balances, according to the plan, and other materials, as determined by legislation.
  

(3) the criteria for drawing up the rules for stock and normative overheads shall be determined by the Council of Ministers.
  

(4) the ministries, other Central and local bodies and economic units are required to ensure optimum sizing of working capital needs and rational use of material and money funds. The Finance Ministry and banks to check budget of revenue and expenditure, the method of calculating the maximum level of material values and spending circulating means nature, as well as the resources of their coverage.
  


Article 50 shall be subject to the provisions of the Investment Plan of the single national economic and social development, within the limits of the funds provided for in the budget of revenue and expenditure and on the basis of technical and economic documentation stipulated by the law. Investments must materialize, priority objectives, to be duly prepared and realized by adopting the latest and cutting-edge technological and constructive solutions, low-cost, within such period as quickly as possible, to have the basis for justification to ensure disposal of domestic market and export production, obtaining a foreign contribution corresponding to the financial and economic indicators and improving those that are carried out at the existing production capabilities similar to , taking into account economic and technical developments in perspective.


Article 51 (1) circulating means Financing of economic entities in operation ensure Socialist of overheads and other resources temporarily available to them under the law.
  

(2) the working capital requirements of economic units of the new State, in the first year of operation, ensure State budget.
  

(3) the financing of economic entities of State investments ensure proper Fund for economic development, the construction of housing and other social investment fund to finance the plant's own investment, as provided by law.
  

(4) in addition to the funds provided for in paragraph 1. (1) and (3) firms may get bank loans.
  

5. Crediting overheads is made for a period of up to 12 months; over this period it may grant credits for products with a production cycle longer than one year, expenditure on the organisation of leading, and in other cases provided by law.
  

(6) investment Lending units is performed on the Socialist term of up to 15 years; in agriculture this period may be up to 25 years.
  


Article 52 credit Relations are organised by the State in the form of direct bank lending. Sub-loans money between Socialist units, except for the cases provided by law, are forbidden.


Article 53 Bank Loan is planned, are granted for specific destinations must be guaranteed with material values, with the financial resources provided for in the budget of revenue and expenditure of the economic units to achieve in future periods, or in other conditions laid down in the laws and must be repaid at maturity.


Article 54 (1) Loans shall be granted to economic entities of the State, public, cooperative and organized on the principle of economic and financial self-administration and have legal personality.
  

(2) banks can grant credits and units with financial and economic self-administration without legal personality are authorized to borrow by the unit to which they belong and which is responsible for the use and repayment of loans on time.
  

(3) banks can grant credits and other units, as well as individuals, as provided by law.
  


Article 55 (1) lending Banks within the limit of credits. Over the volume of lending may be approved only for the new tasks of the plan and the plan thresholds, under the statutory provisions.
  

(2) Loans shall be granted to the units within the approved ceilings.
  


Article 56 (1) economic units pay interest for banks, credit and commissions and fees received, what services were rendered.
  

(2) interest for Socialist Units receive money availabilities placed in their accounts at banks.
  

(3) Interest, fees and charges shall be fixed by Decree of the State Council.
  


Article 57 (1) credit Relationship between banks and economic units are determined on the basis of contracts, including the volume of loans to be granted according to the provisions laid down by law, the conditions for granting and repayment of loans, interest level, obligations and responsibilities of the economic units.
  


(2) Loans approved by banks, based on the analysis carried out, in advance, on the economic and financial situation of the unit credited and ensuring Canadian tax credits. Where not provided conditions for the repayment of loans, banks approve loans only if credit contracts are signed and plants or units in ministries of which cause them are directly subordinate to draw up programmes and measures shall be to improve the economic and financial activity of these units. Banks can refuse to grant loans if the programme of measures drawn up does not assure the repayment of credits requested.
  


Article 58 where the beneficiaries of credits do not comply with other conditions and destination of credit, banks have the right to stop lending, being aware of the hierarchically superior body in order to take measures for their entry into legality and punish those guilty.


Article 59 for material that constitutes the guarantee of loans remain in the possession of the debtor, for which legal obligations with regard to the rational use and their proper conservation.


Article 60 (1) banks will refuse to grant credits required by economic units in cases where the products are made not have outlets provided through contracts to domestic or export according to the destination laid down in the plan.
  

(2) in addition, the banks will refuse to grant credits for products that have no legally established prices, investment and construction-Assembly works which are not provided for in the plan, or have not provided the conditions laid down by law, and where there are no conditions for efficient use of funds.
  


Article 61 (1) stocks of tangibles without use and hard goods saleable within the deadline fixed by unused programs of measures drawn up by the economic units, orders cancelled or illegal stockpiles of food outlets provided, without prices or inadequate quality, material deposited and preserved in inappropriate conditions, as well as the work without funding secured, can not form the object of loan collateral.
  

(2) the current Appropriations related to such material values, and those remaining without guarantee, become due and shall pass to the outstanding loans at maturity as finding them. Economic units, with the support of the hierarchically superior bodies and banks, have the obligation to take measures for these stocks and the repayment of credits received.
  

(3) it is prohibited to banks to keep lending and other current expenditure which handles multi-site are related without production outlets.
  

(4) Banks are obliged to scrutinize the economic units using credits according to the destination, the existence of material, guarantees compliance with the conditions laid down in the contracts, as well as the way in which economic units acts for the performance of the tasks of the plan and compliance with financial discipline.
  


Section II Pre-financing of production and circulation of goods amp; 1. Lending to industry, construction, transportation, telecommunications and other services, the movement of goods, as well as the activities of research, design and engineering on the basis of Article 62 of the plan and of the budget of revenue and expenditure, the banks may, where appropriate, economic units, State and cooperative loans: a aprovizionarilor production) contracted to domestic or export and spending necessary tasks plan;
  

b seasonal inventories and expenses), which are formed as a result of the acquisition, Contracting and processing of agricultural raw materials and other products;
  

c) funds incorporated in reunification products delivered, works performed and services rendered in the course of collection;
  

d) expenses planned in excess revenues in some quarters, including the introduction of new technology;
  

e) stocks of products, goods, packaging and other assets at establishments, outlets, tourism and material and technical supply;
  

f) sales of goods, performance of works and provision of services with payment in instalments, on timelines;
  

g) activity of "service", the goods sent for tests, testing, storage or processing abroad and exhibits at international fairs or exhibitions for a period not exceeding 12 months;
  

h) other destinations provided for by laws.
  


Article 63 banks can grant economic units of material and technical supply and sales of goods, tourism and hotel services, supply and processing of agricultural raw materials, as well as those of collection and acquisition, as loans to carry out aprovizionarilor and cost-of-production or circulation, provided that the goods and the goods in question to have the disposal of insured through contracts or by the population and to fall at the end of the quarter in stock levels and the planned spending with the exception of agricultural products.


Article 64 (1) the terms of repayment of loans shall be determined taking into account the movement of material values, expenses and the budget of income and expenditure, within the time limits provided for by law. Economic units are obliged to repay the loans at the time limits specified in the credit agreements.
  

(2) In justified cases, banks will be able to economic, based on thorough analysis, the extension of time limits for reimbursement of current credits once a year for each, within the time limits laid down in article 21. 51 para. (5) majorindu-Daniel, is in accordance with the law.
  


Article 65 (1) banks can grant economic entities who have temporary financial hardship for objective reasons for temporary needs with current interest, for the period necessary to remove the root causes that gave rise to the respective needs, without exceeding 90 days.
  

(2) such credit may be granted for the supply of material and technology to meet the economic contracts, for developing and manufacturing production, finished products and goods, within the limits and under the conditions laid down by the Finance Ministry and banks ' plants.
  


Article 66 (1) where, in some periods, economic units cannot ensure payment will become due own funds, from current receipts and credits approved banks can grant loans to rebuild the capacity of payment, with interest accrued, for payment of aprovizionarilor, the works performed and services rendered 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 economic entities, on the basis of the analysis made in conjunction with the Bank's organs limits for no more than six months, and in duly justified cases, with the approval of the Bank's power plant up to 12 months, settled on the measures that they undertake to eradicate the causes of economic unity and restore the balance between receipts and payments.
  

(3) Appropriations for payment capacity shall be reimbursed on the measure to remove the root causes that gave rise to the lack of balance between receipts and payments and the latest scadentele set with the Bank.
  

(4) the governing bodies of other bodies, ministries, Central and executive committees of Councils are obliged as popular during the ongoing negotiations, to ensure the Elimination of the causes that gave rise to the planned funds needs to be exceeded.
  


Article 67 (1) in the event of economic units that have benefited from the loans referred to in article 1. 65 and 66 and yet remain in default for a period of over 60 days, the banks funding will establish preliminary control over payments company, with the right to refuse making those payments that violate rules on proper management of funds and materials, plan and financial discipline and will introduce tools that drive settlement , subject to the prior existence of the availability payment.
  

(2) at the same time, banks, together with the hierarchically superior enterprises in the case, will analyze the economic-financial situation and will propose or cause economic and financial measures designed to lead to a recovery in activity.
  


Article 68 (1) the economic units that frequently their immobilization means are not circulating and in so far as to repay at maturity loans received are analysed the proposal of banks and along with this, the management of respective units of power plants, ministries, other Central and local bodies with the support of the Central Council of workers ' Control of economic and Social Activity, the Superior Court of financial Control The State Committee of Planning, Ministry of finance, Ministry of technical Materials Supply and management and Control of funds, the Ministry of foreign trade and International Economic Cooperation.
  


(2) the results of the analyses shall be debated in the Councils of the working people of their respective competence, effective measures for improving the organisation of the supply process, production and sales, reducing costs and improving product quality, bringing production into line with the insurance products, as well as outlets for observance of contractual and financial plan. Based on the analyses carried out and of the debates of the working people, the leadership councils of the Ministry, central or local body has the obligation to establish, with the opinion of the Bank financing measures to redress the economic and financial situation of the unit. The Ministry of finance together with the Central Council of workers ' Control of economic and Social Activity and the Superior Court of financial Control are obliged to support and to control the way in which it measures.
  

(3) In special situations hierarchically superior bodies will delegate their frames, of leading an empowered economic standing under the respective unit to ensure and to support directly the application of measures of economic and financial recovery.
  

(4) banks will announce major suppliers of economic entities in the case about the economic and financial situation thereof, as supplies of goods, works and runs services to be carried out by suppliers solely on the basis of Bank settlement tools to prove the existence of payment possibilities.
  


Article 69 (1) where, after the implementation of the measures referred to in article 1. 65-68, economic units not redreseaza economic-financial situation, when there were serious infringements to the rules of management of the funds, and in the cases provided for by art. 27(2). (4) there shall be established the special economic and financial surveillance of the activities of the unit concerned.
  

(2) the proposal of establishing the special regime of economic-financial supervision is done by Central Council of workers ' Control of economic and Social Activity, the Superior Court of financial Control and the Ministry of finance and is approved by the Council of Ministers.
  

(3) the duration of the special arrangements for the economic and financial surveillance set up an oversight board financial and economic activity of the enterprise consisting of relevant agencies, banks, Central Council of workers ' Control of economic and Social Activity, the Ministry of finance, the State Planning Committee and the Ministry of Supply and material management and Control of funds, as well as representatives of the people in that unit. Major units of the Supervisory Board shall form part of the Court and the superior empowered Financial Control.
  

(4) component of the Supervisory Board, and the special arrangements for economic-financial supervision, approved by decision of the Council of Ministers.
  


Article 70 (1) the Supervisory Board shall examine the causes of the economic-financial activity of the enterprise and set out measures for the restoration of economic and financial activity that are required for its leadership.
  

(2) the measures laid down will be debated in the General Assembly of the working people, which must ensure the mobilisation of the entire collective work to improve production management, good material and financial assets, strengthening law and order and discipline, timely and in the best conditions to all the tasks incumbent on the unit.
  

(3) the Council of the working people is required to comply with all measures laid down.
  

(4) the Council of the working people, together with the Council economic and financial surveillance, carries the responsibility to redress the economic and financial situation of the unit.
  

(5) on the basis of the analysis carried out, the Council of economic and financial surveillance establishes the liability of individuals who have led the drive. Where it is found that unsatisfactory situation of the unit is determined by how they acted the Director or others in the leadership of the unit, it can propose their dismissal, as well as the prohibition to occupy limited time management.
  

(6) after the imposition of the special arrangements for the economic and financial surveillance resumes Bank crediting the respective current for its activity, according to the plan and contracts.
  

(7) The period of application of the special arrangements for the economic and financial surveillance, power stations, ministries and other Central and local organs hierarchically superior are obliged to take appropriate measures to ensure the improvement of the economic-financial activity of the enterprise, bringing production into line with products insured by the outlet, judicious use of funds and materials.
  

amp; 2. Crediting of agricultural units of State Article 71 Bank for agriculture and the food-processing industry grant State agricultural enterprises, economic associations of State-owned units and stations for the cooperative and agricultural mechanization, in addition to its own funds, loans for the establishment of stocks of seed, feed, fertilizer, fuel, materials and supplies, spare parts and other inventory, livestock, as well as the necessary expenses of production in compliance with the budget of revenue and expenditure and in the production of each establishment.


Article 72 (1) Loans shall be granted on the basis of the plan and of credits up to the level of stocks and the costs of planned production, provided guarantee integral values and achievement of revenue, with the obligation to ensure repayment.
  

(2) loans are repaid within the time limits and the recovery of production.
  


Article 73 (1) the Bank may grant loans for expenses relating to the disaster areas, reînsămînţarea additional fertilization of crops, baltirilor and other actions to eradicate the negative effects caused by natural factors, State-owned agricultural enterprises and economic associations of units of State and cooperative ones, who take measures according to evaluate rules for reducing losses.
  

(2) Resorts for agricultural mechanization may receive loans with current interest to cover expenses incurred in connection with works performed production, in the case of neincasarii revenue due to remarks delivered by the production of agricultural units as a result of natural disasters, under the conditions established by law. These loans are repaid during the year and up to the latest approval, according to the law, on the basis of the analysis of the balance sheet.
  


Article 74 article. 65-70 shall apply correspondingly and State agricultural enterprises, economic associations of State-owned units and stations for the cooperative and agricultural mechanization.
amp; 3. Crediting activity of agricultural units of cooperative production Article 75 agricultural cooperatives provide their production funds for production activity from own funds and money from income made from the sale of production.


Article 76 the Bank for agriculture and the food industry may grant credits in addition to its own funds, on the basis of contracts, agricultural production cooperatives for the production costs of materials, labour, remunerate paying the contribution to the Pension Fund and social insurance levies to fund economic development and for other obligations arising from laws and contracts made by the agricultural production cooperatives provided for in the budget of income and expenditure.


Article 77 Credits shall be determined on the basis of use of agricultural products, the agricultural cooperatives of production with Socialist units, up to 60 per cent of the production value, taking into account the contracted volume of proceeds realized from the sale of production, to ensure repayment of the loans in full on the due date. Credits are granted, by way of executive orders, to cover the costs of production provided for in the estimates of expenditure, on crops and animal species, which formed the basis of preparation of the budget of revenue and expenditure.


Article 78 (1) where, in the course of the year, some agricultural production cooperatives needing additional funding, the Bank may grant, on a reasoned request from them, and over the proportion referred to in the preceding article, if there's a material basis and certain possibilities of achieving income, repayment of loans and cover other obligations.
  

(2) If, in the course of the year, from vegetation and cattle-breeding production walking shows that production is not carried out and there is no guarantee provided for the refund loans, the bank ceased granting credits or weakens until level for which there are possibilities of redemption.
  


Article 79 till completion budget of revenue and expenditure, the Bank may grant loans for agricultural production cooperatives for expenditure relating to the material production the following year.


Article 80


For the development of industrial activities, agricultural products processing, construction and services, the Bank may grant loans, in addition to its own funds, agricultural production cooperatives for the supply of raw materials and materials and execution of cost-effective products with outlets.


Article 81 contracted Production may not be used in any other way than that set on the occasion of the granting of the loan. When the agricultural cooperatives of production does not comply with this obligation or change destination contracted production, the Bank has the right to take action for repayment before maturity of loans from any availability of cooperatives, and when such facilities are not sufficient to pass the levy of execution by harnessing existing products.


Article 82 the Bank may grant intercooperatiste economic associations and public organizations ' business units, in addition to its own funds, loans for livestock, feed stocks, basic materials and materials, chemical fertilizers, products and goods, as well as for other production expenses provided for in the plans and the budget of income and expenditure.


Article 83 where, in some periods, economic associations intercooperatiste cannot make payments from their own funds, receipts and credits have been approved, they will be able to grant loans to rebuild the capacity of payment, with interest accrued, for payment of aprovizionarilor and other payment obligations to third parties, pursuant to article. 66 of this law.


Article 84 (1) where at some agricultural cooperatives, production set for production and possible income contracted achieved does not assure the amounts needed to cover the costs of production strictly necessary, it may grant loans under special approvals allowing the execution of maintenance, harvesting, transport and storage in the vegetable sector and feeding of the animals.
  

(2) such credits may be granted for agricultural cooperatives and production, due to natural disasters, don't realize the necessary income and production wage cooperators for labour, provided measures are taken according to evaluate rules for reducing losses.
  

(3) the proposal for granting such credits should be analysed and are presented for approval by the Ministry of agriculture and food industry and the National Union of agricultural cooperatives of production, with the plane.
  


Article 85 agricultural production Cooperatives, associations and economic intercooperatiste economic units of the public organisations guarantees loans with tangibles, with revenues set out to achieve and with the assignment of rights in favour of the Bank the money that they have received. Agricultural production cooperatives and guarantee loans, economic associations intercooperatiste proportional to their underwritten parts.


Article 86 (1) repayment of loans to the cooperative agricultural units is done directly from the proceeds of these products delivered, the work performed and services rendered, from the compensation received and of any monetary income.
  

(2) Loans outstanding at the end of the intercooperatiste economic associations, determined to have the income or expenditure overrun is recovered from the agricultural production cooperatives in proportion to their underwritten parts.
  

amp; 4. Granting credits for the production of the members of agricultural cooperatives and producers ' production with individual household Article 87 (1) Bank for agriculture and the food industry may be granted to members of agricultural cooperatives and producers ' production with individual household, which contracts with Socialist units delivering agricultural products, loans up to 60 per cent of the production value.
  

(2) For contracts concluded with the cooperative consumer organizations, and producers of Salesian with individual household receive money under the same conditions by respective organizations advances.
  


Article 88 (1) and producers with Salesian individual household production guarantees the loans received by assignment of rights in favour of the Bank the money that they have received from Socialist units, as well as with the goods that you have in the property.
  

(2) repayment of loans is made of the amounts shall be due for the products delivered to Socialist units, from compensation and other income.
  


Article 89 (1) the contracting Units versus socialist bank guarantees, repayment on the due date of the production credits, granted on the basis of contracts concluded with the Salesian and manufacturers with an individual household. Loans outstanding on the due date shall be recovered on account of Socialist units they have guaranteed.
  

(2) where, following the checks carried out by the Bank, it is found that the contracts were signed without physical basis or as they pursued socialist units not enforcing contracts, the Bank has the right to proceed with the recovery of loans from the debtor or, where appropriate, from the Socialist, before the due date.
  


Article 90 delivery contracts shall be awarded on the basis of which constitutes for the Bank towards enforcement cooperation with producers and individual household, and the front of Socialist units.


Section III funding and lending investment amp; 1. Financing and crediting of investment units of State in article 91 (1) investment of State economic units specified in the single national economic and social development, is financed under the budget of income and expenditure from own funds of enterprises and, where appropriate, plants established under art. 20, 22 and 23.
  

(2) The State-owned enterprises in operation, which needs financial resources for financing investments in excess of the funds set up for these purposes, banks can grant loans repayable, in addition, with priority over other destinations from own funds what constitutes in later periods.
  

(3) For investments concerning the construction and equipping of the clubs sports halls, bases, festivities and others similar are not extending credit, notably financing from own funds.
  

(4) where the plant's own Fund for financing investments do not cover investment expenditure intended to fund this Fund is from, the difference shall be covered through redeployment from the surplus of the Fund for the financing of investments in the same Ministry or local central body of State administration, as well as from the Fund for the financing of investments accounted for at the level of ministries and other Central and local bodies of State administration. When these funds are insufficient the difference shall be covered from the central or local economic and social development, as necessary.
  


Article 92 the investments of State institutions provided for in the single national economic and social development is financed from the central Fund for economic and social development, included in the republican budget, or out of funds to local economic and social development, contained in the local budgets, according to the subordination of the beneficiary of the investment.


Article 93 (1) for the purpose of financing, opening plants, enterprises, State institutions and other recipients of investments deposited with the banks ' funding drives projects approved runlevel legal construct graphs of investment, delivery of equipment and personnel, in conjunction with the commissioning deadlines, as well as construction and other authorization documents as provided by law. For other investment expenses, which are not compiled execution projects is presented and approved documentation according to the legal norms in force.
  

(2) to work and their during the execution of the investment and beneficiaries currently executing organizations are required to submit, at the request of banks, currencies, projects to verify them.
  


Article 94 (1) Banks finance their investments if the following conditions are met: (a) the existing production capacities) is used according to the rules in force;
  

b) disposal of products is ensured, according to the approved documentation;
  

c) objectives, skills, investment costs and deadlines for commissioning fall under the provisions of the plan;
  

d) work is based on the technical and economic documentation drawn up according to the rules and legal norms and legal approvals for use of the land on which the investments in question are placed;
  

necessary financial resources e) execution are assured under the provisions of the annual plan;
  

f) works and what expenses are provided for are carried out in technical and economic documentation accepted for funding;
  

g) attainment, repayment of loans and investment expenses are insured according to the approved documentation.
  


(2) the financing Banks have the right to refuse financing where are not complied with the conditions set out in the previous paragraph, as well as laws concerning the commencement of the works, a test of which is the responsibility of that task. Unsupported holders rejects plan to solve by the Council of Ministers, the Ministry of finance and the State Planning Committee, on a proposal from the bodies of collective leadership of ministries and other Central and local bodies.
  


Article 95 (1) Banks, according to the law, check the legality of prices and tariffs, as well as profitability and expenditure provided for in rule documentation thereof within 20 days of receipt of the documentation currently executing organisations appropriated.
  

(2) the reductions made by the banks, to which no objections have been received within 20 days of their notification, remain definitive. Value estimates and the general budget shall be reduced with final cuts.
  

(3) the divergences and Socialist units Bank units or bodies under which they learn to solve by the hierarchically superior bodies.
  


Article 96 (1) Are prohibited hiring, contracting of works, shipment times prior to their inclusion in the single national economic and social development and approval of technical and economic documentation according to the law, as well as the commencement of work before the organs of the Bank to be pronounced upon the legality of such expenditure, except in cases where laws provide otherwise.
  

(2) The Contracting and purchasing machinery necessary for technological investments investment recipients are required to provide their on site at bringing deadlines related to the records for the Assembly, not to exceed the performance of the storage sites established according to legal provisions, and to avoid the formation of stocks of equipment available.
  


Article 97 (1) delivery of the equipment, machinery and technological installations, before the contractual time limits can only be made if the supplier has obtained the written consent of the beneficiary of the investment unit, given the Bank's funding agreement with that attest that the purchase of the machinery is devans economically justified being provided conditions for mounting and putting them into operation before the time limits laid down in the technical and economic documentation approved.
  

(2) where suppliers deliver anticipated equipment, and machines and installations without the prior consent of the recipient, it is required to refuse to pay until the time limit specified in the contract.
  


Article 98 (1) Investments shall be reimbursed as their execution in compliance with the provisions of the annual plan and budget of revenue and expenditure of the general budget, within the limits of legally approved; It is prohibited to overcome technical and economic documentation value for your investment.
  

(2) materials for investment by the beneficiary shall be supplied, according to the law, technological samples, spare parts and inventory items of little value or short duration, that constitutes the first endowment to new businesses in construction, as well as machinery and technological facilities is financed as their acquisition or within the funds provided for in the budget of revenue and expenditure of the beneficiaries.
  

(3) for expenditure on technological evidence, recoverable from the sale of the products obtained, the banks may grant short-term loans.
  


Article 99 (1) during the execution of the works and the completion of their investment, the beneficiaries are obliged to justify the spending of funds banks issued. On completion of the works, recipients are obliged to perform their reception and to present the Bank's justification and the Minutes approved by the commissioning.
  

(2) where construction-Assembly organizations, providing services and design, as well as recipients of investment for the work in directing, having received undue amounts, the banks have the right, if within 30 days from ascertaining the cause does not repay the sums in question, to issue their repayment, payment documents, that shall be reimbursed without accepting the payer.
  

(3) After commissioning of the investment objectives, the banks will only defray expenses that works under the law and may be carried out after commissioning, recorded in the minutes of receipt, within the limits of the overall budget.
  


Article 100 Credits for investment in addition to economic development fund and the Fund for construction of housing and other social investments shall be paid by the banks under the same conditions provided for in art. 94 para. (1) to finance investments and ensure reimbursement if within the time limits laid down by law.


Article 101 during the execution, for the realization of investments provided for in the single national plan, banks may grant credits and in the following situations: a when there is a gap) planned by quarters, between spending on investment and the creation of own funds intended for financing;
  

b) where it exceeds the quarterly investment plan, through the execution of the works at some devans objectives and investment actions, or acquiring equipment, technological machinery and equipment under the conditions of art. 97 para. (1) within the framework set out in the annual plan, and it is justified in terms of economic, material conditions secured existind.
  


Article 102 (1) where, in the course of the year is not effected for financing investment resources at the level of revenue and expenditure budgets, at the request of the holders of the units of the economic plan or, where appropriate, the banks may grant loans with interest plus, if only from the analysis of the documentation submitted and the measures that are proposed to be taken to create their refund guarantee until the end of the plan. When the conditions for repayment are not insured, banks may grant such loans only with the approval of the Council of Ministers.
  

(2) outstanding Loans by the end of the following year shall, as a priority, its own Fund for economic development or the construction of housing and other social investment fund for investment or own the plant, if applicable.
  


Article 103 shall be reimbursed in Loans rates and time limits laid down in the credit agreement. Economic units redeemable in advance rates due.


Article 104 (1) where it is intirzie, for two consecutive years, the repayment rates payable for investments from own funds of the company, their plan to refund is made from the Fund for financing investments or established at the central ministries, other Central and local bodies of State administration, of the depreciation paid in subordinated units.
  

(2) investments in operation periods not enacted planned, taking into account the banks actions taken for recovery of late, may approve the continuation of such activities until the completion and commissioning of the investment, within the limit of the amounts laid down in the credit agreement. Credits for the period of delay funding banks charge interest rates increased, until the actual implementation of the investment.
  

amp; 2. Financing and crediting of artisan and cooperative investment in consumer and other civic organizations in article 105 of the co-operative Organizations and units of other public organizations carried out necessary investments infaptuirii economic and social objectives set out in the national plan and the budget of income and expenditure of funds for economic development formed on account of income obtained from their work.


Article 106 banks can grant cooperative organizations and economic entities of other public organizations, in addition to its own funds, credits for realisation of actions and targets new investment to expand and modernize existing capacities, to ensure increased production, provision of services, improving the supply and disposal and getting additional income.


Article 107 the funding and lending organizations and investment cooperative economic entities of other public organizations shall be made according to the General rules applicable to state-owned economic units.
amp; 3. Financing and crediting of agricultural cooperative investment units Article 108 (1) agricultural production Cooperatives carries out investments, according to the statutes, the Fund for economic development.
  

(2) the Bank for agriculture and the food industry may be granted to agricultural production cooperatives, in addition to its own funds, in accordance with the provisions of the single national plan and the budget of income and expenditure, credits for realisation of actions and objectives of new productive investments, developments and upgrades to existing ones, to ensure increased production capabilities, providing services and carrying out works in order to obtain some bonuses corresponding net production value and increase the efficiency of the entire activities of the units.
  

(3) agricultural production Cooperatives may be granted credits and for shares and investment objectives what is executed through association or cooperation.
  


(4) intercooperatiste economic Associations may be granted credit for the introduction of machinery, modernization and improvement of existing facilities, production and technology development activities for agricultural products processing.
  


Article 109 (1) Loans shall be granted for the performance improvement of irrigation and reclamation works, plantations of vineyards and fruit trees, evaluate construction, machinery and equipment, purchases, housing construction specialists, for other actions and targets laid down in the legal provisions, including those for social investment.
  

(2) the actions and objectives for which the grantors and maximum repayment deadlines are those set out in the annex. 2 to this law.
  

(3) agricultural production Cooperatives and associations of economic intercooperatiste are obliged to participate in the investment objectives and actions for which you require, with his own means, in a proportion of at least 30 per cent of the value of the investment.
  

(4) the Bank for agriculture and the food industry, on a proposal from the Ministry of agriculture and food industry, may approve, in special cases, the granting of loans and over 70 per cent of the value of the investment for productive actions and objectives what the regular filing of plan tasks, within the volume of loans approved for the agricultural production cooperatives and associations of economic intercooperatiste.
  


Article 110 Volume credits that are granted to the agricultural production cooperatives is fixed annually by the national plan and the State budget and allocated stock and counties by the Ministry of agriculture and food industry together with the Bank for agriculture and the food industry.


Article 111 Credits shall be granted to agricultural production cooperatives have provided through the budget of income and expenditure allocations to fund economic development in at least the minimum quota provided by statute.


Article 112 (1) the Bank for agriculture and the food-processing industry of agricultural cooperatives may be given less consolidated production credits for realisation of technical actions and measures, organizational and economic recovery programmes laid down in, for completing and bringing in running the investments made previously and improve the production process.
  

(2) Loans shall be granted only if there are conditions for the realization of the programmes and for increasing production and income to ensure reimbursement within specified time limits, for a period of up to 5 years.
  

(3) The actions and measures to be implemented on the basis of recovery programs, agricultural production cooperatives participate with own means as the possibilities you have.
  


Article 113 (1) Loans approved production of agricultural cooperatives and economic associations, intercooperatiste by the Bank, in compliance with the following conditions: (a) Economic Development Fund) provided they constitute by themselves to ensure repayment of the loans required within the maximum time limits;
  

b) to OIE achieving production and revenues referred to in technical and economic documentation;
  

c) to ensure the participation of own funds with the proportions set forth and rational exploitation of the means of production;
  

d) to exist conditions for execution and commissioning of the objectives, and expected production to have the disposal of insured;
  

e) technical and economic documentation to be drawn up, certified and approved according to the provisions laid down by law.
  

(2) For credit approval, agricultural production cooperatives shall submit to the Bank a commitment to capitalize by Socialist units contracting agricultural commodity production obtained from the targets, until full repayment of the loan.
  

(3) in the event that the Bank, after analysis, find that they are not fulfilled, the credit conditions and there are no guarantee of reimbursement of the loan will not approve the loan.
  


Article 114 Cooperatives agricultural production and economic associations, intercooperatiste are required to use the appropriations received in accordance with the intended use established and responsible for their repayment in full at maturity.


Article 115 the Bank for agriculture and the food industry has the right to cease lending or to recover the loans ahead of schedule, where are found the following situation: a) to change the destination of loans or investments in execution deficiencies credited, to endanger the implementation of the objectives or achieving economic and technical indicators from loan documentation;
  

b non-agricultural cooperatives) production with own funds that have been committed in the execution of investment goals credited;
  

c) use the means of production for purposes other than those for which they were credited, disposal, improper management, degradation, or removing them from the production;
  

(d) failure to take action) removing the deficiencies pointed out by the banking units.
  


Article 116 agricultural production Cooperatives and associations received credits guarantee economic intercooperatiste with material values, money intended to achieve with any other income in cash and kind, as well as with the assignment of rights in favour of the Bank what they charged.


Article 117 (1) repayment of loans from the economic development funds, and if they do not cover rates due, the difference shall be paid from the other passengers as the money of the agricultural cooperatives of production.
  

(2) For investments that are carried out in association or co-operative intercooperatista between units and units of the State, in cases when the benefits associated with proper agricultural cooperatives do not ensure the repayment of loans and payment of related interest, use and availability of the economic development of economic associations or associations of economic intercooperatiste of State-owned units and cooperative ones.
  

amp; 4. Crediting of investment made by population Article 118 (1) the Bank for agriculture and the food industry may be granted investment credits to develop production of members of agricultural cooperatives and producers ' production with individual household for procurement of production animals, seedlings, in pursuit of fruit trees and vineyards,-to evaluate other destinations.
  

(2) Loans shall be granted up to a maximum of 70 per cent of the value of the shares and investment objectives, provided that its contract manufacturers with Socialist organisations delivering products and from the sale of products, to ensure repayment of the loans in question period.
  

(3) investment credit can be granted to individual producers with the household of necooperativizate, constituted into associations in order to achieve objectives of common interest. Credits for investment shall be granted provided that contract with certain Socialist units from the sale of products and to ensure repayment of the loan term and the interest payment.
  

(4) shares and investment goals, for granting loans and repayment deadlines, shall be determined in accordance with the annex. 2. In article 119 (1) House savings and loans may be granted Consemnaţiuni population for construction of private housing, and other cases provided by law.
  

(2) Appropriations for the construction of housing is guaranteed by the formation of personal mortgage over housing in question under the conditions laid down by law.
  

(3) loan Contracts were worth of authentic records and is enforceable.
  


Article 120 (1) Loans are guaranteed by the beneficiaries, for all their worth through the pledge of tangibles, safeguards and assignment of receivables.
  

(2) until the full repayment of the loans, homes and personal property and other assets acquired by the public through the use of credits may be disposed of only with the prior consent of the establishments which have been granted loans.
  


Chapter 5 financial and currency Relations Foreign Affairs section I General provisions Article 121 the production for export, as well as conducting exports must be made to ensure that the resources needed for imports and increase foreign currency reserves of the State, to lead to the improvement of economic efficiency, profitability and the establishments of foreign trade, increasing national income and, on this basis, strengthening the purchasing power of the national currency both internally and in relation to other currencies.


Article 122 (1) In carrying out the policy of increasing the national wealth Fund is formed by the foreign State and the State reserve for precious metals, which are part and parcel of the State reserves of the Socialist Republic of Romania.
  

(2) the order of formation, administration and use of State Fund in foreign and State reserves of precious metals is established by law.
  


Article 123 financial-Forex Activity takes place on the basis of a unitary system of planes, comprising: a balance of foreign payments);
  

b) plan of receipts and payments in foreign enterprises, power stations, ministries and other Central and local bodies;
  

(c) the balance of receivables and commitments).
  


Section II the balance of external payments; Plan of receipts and payments in foreign currency



Article 124 (1) balance of foreign payments shall be drawn up by the Ministry of finance, the State Planning Committee, the Ministry of foreign trade and economic cooperation and international banks, together with the ministries and other central bodies, in conjunction with unique indicators of the national economic and social development and State budget in balance.
  

(2) balance of payments shall be made on external relations, with the holding of loads of receipts and payments in foreign currency on the ministries and other central organs holding and plan shall be approved with the single national plan economic and social development, annual and five-year plans.
  

(3) allocation of quarters of the balance of payments shall be approved with the schedules.
  


Article 125 Plan of receipts and payments in the currency of the ministries, other Central and local bodies, plants, enterprises and institutions which, by law, be effected receipts and payments in foreign currency, includes the totality of revenue and payments in foreign currency and shall be drawn up in conjunction with other projects of economic and financial balance of foreign payments.


Article 126 (1) ministries and other Central and local bodies performing the tasks plan of receipts and payments in foreign currency, foreign trade enterprises and other subordinated units in which, according to the legal provisions in force, which are approved or have loads of receipts and payments in foreign currency.
  

(2) economic units which carry out comprehensive objectives for construction-Assembly works and other works abroad carries loads of receipts and payments in foreign currency in accordance with the approved indicators for each target or targets groups and sites.
  


Article 127 for the provision of international services, for non-commercial operations and expenditures for commercial activity, virari may be made between expenditure indicators you plan holders and quarters, with the approval of the Ministry of finance and the Ministry of foreign trade and International Economic Cooperation, in their justified request.


Article 128 of the economic Units, producing power plants, foreign trade enterprises, ministries and other Central and local bodies with the task of foreign trade are responsible for the hiring of imports and of payments within the limits of the provisions of and in accordance with the provision of export foreign exchange resources.


Article 129 (1) Romanian Foreign Trade Bank organizes record keeping concerning the execution of the external balance of payments and submit monthly Ministry of finance, the Ministry of foreign trade and International Economic Cooperation and the State Committee of the Planning situation of its realisation.
  

(2) enterprises, power stations, ministries and other Central and local bodies are responsible for the full and timely receipt of foreign rights, organizes record keeping and receipts execution plans for payments in foreign currency, shall draw up monthly and quarterly achievement of their situation. The bodies of collective leadership examines how the plans of receipts and payments in foreign currency and shall lay down the necessary measures to comply with the planned foreign exchange balance.
  


Article 130 (1) ministries and other central organs that have subordinated enterprises which run comprehensive objectives for construction-Assembly works and other related works abroad will report to the Council of Ministers shall, within 30 days after the dates specified in the contract for completion of the work, the situation of each goal with over 100 million lei or foreign currency and how they were back up schedules and financial-valutari approved.
  

(2) To work with values up to 100 million lei or foreign currency, analysis of how to achieve economic and financial indicators-valutari approved shall be made by the governing boards of ministries and other central organs.
  


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 making the balance of foreign payments, pursue and analyses periodically how to make revenue from export and import payments. Quarterly report to the Council of Ministers on how it was realized the plan proceeds and payments in foreign currency by each Ministry or local central body and propose measures for maintaining balance currency planned.


Article 132 where proceeds of export is not carried out according to the plan approved on a quarterly basis and other ministries and central organs and local currency balance shall be made if planned, they will not be able to employ new imports, within the limit of the amounts in unrealised revenues. Within three days, the ministries and other Central and local bodies will report to the Council of Ministers on the measures taken to achieve revenue and ensuring currency equilibrium planned.


Article 133 (1) in exceptional circumstances, at the request of the Minister or the Manager of the central or local body which has not achieved planned revenue in foreign currencies, Romanian Bank for foreign trade, with the agreement of the Minister of finance and Minister of foreign trade and international economic cooperation, may grant temporary loans in foreign currency, foreign trade enterprises for payments abroad, until the resolution of the Council of Ministers of the cases concerned.
  

(2) Interest and fees for these credits shall incur according to the law.
  


Section III claims and external Balance of commitments in article 134 (1) foreign receivables and liabilities Balance includes rights and obligations abroad at a time of export, import and international economic co-operation, judicial, public services, tourism and other activities, as well as foreign loans received and granted interest and commissions, their stakes in joint ventures and international financial bodies availability of foreign currency abroad and on the availability of external partners at the banks of the Socialist Republic of Romania and the other rights and obligations in dealing with the domestic currency.
  

(2) the balance of receivables and foreign commitments shall be drawn up by the Ministry of Finance, the State Planning Committee, the Ministry of foreign trade and economic cooperation and international banks, countries and relationships, with a staggering per year and shall be submitted to the Council of Ministers with the five-year and annual plans.
  


Article 135 (1) economic units, foreign trade enterprises, power stations, ministries, central banks and other bodies organize and keep track of the loans in foreign currency and in lei, at the legal, claims and liabilities arising from foreign trade activity and other external activities and are responsible for the full and timely receipt of foreign rights, and honoring commitments to external and report the Ministry of finance receivables and commitments situation.
  

(2) record-keeping and reporting Methodology is determined by the Ministry of Finance, together with the Ministry of foreign trade and International Economic Cooperation, the State Planning Committee, banks and Central Statistics Directorate.
  


Article 136 the Ministry ensure record-keeping centralized economy to foreign receivables and commitments, and periodically analyzes the way in which it carries out the provisions of the statement of claims and external commitments and together with the State Committee of Planning, Ministry of foreign trade and economic cooperation and international banks shall submit annually to the Council of Ministers report on the situation of foreign claims and liabilities on relationships, strong with staggering on years of collection and payment.


Section IV credit Relations with former Soviet republics and settlement Article 137 credit Relations with the former Soviet republics are determined on the basis of contracts, agreements, conventions and other agreements, in compliance with legal provisions.


Article 138 the granting and receiving credits are made through foreign banks, foreign trade enterprises and other economic establishments approved in accordance with the law.


Article 139 (1) of the Financial Resources necessary for enterprises of foreign loans, including those within the framework of conventions or agreements ensure Government through bank loans, and credits received from foreign availability is used according to the provisions of the plans.
  

(2) the conditions and procedures for the management and administration of resources in foreign credits granted Leis and received law shall establish.
  


Article 140 foreign trade Enterprises, Socialist units authorized to carry out credit operations with domestic and foreign banks are obliged to keep track of credit operations, by categories, currencies, time limits on collection of loans and credits received.


Article 141


Foreign trade enterprises and Socialist units authorized to carry out foreign trade operations are obliged to provide export-import contracts, international economic cooperation, tourism, services, transport and international freight forwarding firm guarantees, settlement, payment terms and credit, to ensure full collection and forward to all foreign rights and the realization of the obligations. These units respond, if amounts in foreign currency neincasarii the deadlines laid down by foreign contracts, guarantees and the fulfilment of the performance of procedural acts necessary for the recovery of all claims and rights enforcement.


Article 142 ministries, other central organs of foreign trade activity, the Ministry of foreign trade and International Economic Cooperation, the Ministry of finance, Romanian Foreign Trade Bank and other banks follow the due date and receipt of rights arising from loans and repayment rates due on loans received and grant necessary assistance to foreign trade enterprises and other units in carrying out the obligations and rights towards abroad.


Section V Finance and crediting of foreign trade activity in article 143 total working capital Requirements for the activity of foreign trade enterprises, international economic cooperation, provision of services and execution of work abroad shall be determined according to the tasks to export and import, as well as those relating to other foreign trade activities. Working capital requirements is covered under art. 51. Article 144 (1) Romanian Foreign Trade Bank and other banks to grant foreign trade enterprises short-term loans, medium or long, as stipulated in contracts, agreements, arrangements and external and internal contracts in compliance with the legal provisions, for: a) export goods supplied by establishments, purchased in bases or left in the custody of the producing undertakings;
  

b) expenses related to the supply of materials and supplies, service and other charges incurred in the country in order to execute the works abroad;
  

c) plants, machinery and other goods delivered to external payment in credit conditions;
  

d payment of imported goods), including external suppliers for advances, as well as for the costs of external circulation along the way;
  

e) other foreign trade operations, including special operations for foreign intake.
  

(2) Loans shall be granted from the time of dispatch of the goods or the establishment of stocks to foreign trade enterprises, including those left into custody at establishments, the expenditure has actually been incurred and payments for imports shall be refunded as cash value, the value of imported goods from domestic beneficiaries, as well as from other sources, according to the legal provisions stipulated in contracts or set by banks.
  

(3) the provisions of art. 49-61 and 64-70 of this law shall be applied properly and foreign trade.
  


Article 145 of the Romanian Foreign Trade Bank and other banks to verify compliance with the deadline by all foreign trade enterprises and establishments of collection and payment arising from foreign contracts, the existence and proper storage and preservation of goods intended for export and executarilor works abroad and ensure that these drives to collect and forward in full rights in foreign currency and disburse payments to external.


Section VI economic entities Crediting the Romanian ventures Article 146 in equity Contribution, both in lei and in foreign currency, the Romanian economic units participating in joint ventures based in the country and abroad ensure funding and through bank loans, according to the provisions of the single national economic and social development and balance of payments.


Article 147 of the Romanian economic Units participating in joint ventures based in the country and abroad, ministries and other central bodies responsible for the achievement of full economic and financial indicators-valutari approved, and the transfer in the land of benefits and other rights due within 30 days of approval of the annual accounts or balance sheets under the conditions provided for by the law of the country in whose territory the undertaking has its registered office.


Article 148 ministries and other central organs that were responsible for economic units participating in joint venture shall submit to the Council of Ministers at regular intervals, with the opinion of the Ministry of foreign trade and International Economic Cooperation, the Ministry of finance and the Romanian Foreign Trade Bank, reports on the State account of results and compliance with financial ratios-valutari approved, reimbursement of loans and related interest transfer and receipt of benefits respectively, as well as other rights due to the Romanian Party of such companies.


Chapter 6 Organization and payments between Socialist units Article 149 (1) Socialist Units are obliged to preserve the availability of money accounts at banks and to carry out payment operations and proceeds through these accounts.
  

(2) payments shall be made between Socialist units, usually by means of cashless settlements.
  


Article 150 National Bank of the Socialist Republic of Romania, together with the specialized banks, establishes settlement forms and instruments, fixed limit where they can be made with cash payments between Socialist and units shall draw up rules concerning the conditions and deadlines for submission of documents for settlement and cash in banks, time limits for acceptance and payment, the extent to which cash can be kept in cash offices of Socialist units How to release the cash and payment conditions of the receipts.


Article 151 (1) Socialist Units are obliged to stipulate in the contracts and forms of economic instruments to ensure that the proceeds of the settlement in a shorter time as the value of the products delivered, the works performed or services rendered.
  

(2) Banks may provide replacement forms and instruments of settlement chosen by Socialist units with shapes and tools that better correspond to economic relations between units, in order to strengthen payments discipline.
  


Article 152 (1) payments from the accounts is carried out with Socialist units consent thereof, except those relating to payment obligations established through enforceable, and for making payments to which statutory provisions provide that will settle without consent of taxable units.
  

(2) for products which, by their nature, be consumed immediately after receipt, economic units may be established by contracts, with the agreement of the banks, as their settlement to be carried out immediately after the takeover by the beneficiary. Any variances will recover.
  


Article 153 loan Acts, irrespective of their name and loan account statements regarding unpaid claims or claims that the Bank is entitled to collect them before the term constitute enforceable without other formalities.


Article 154 (1) payments shall be made on the date of exigibilitatii obligations of the debtor being forced to perform, and the creditor being obliged to wax them.
  

(2) Establishments are obliged to ask the Socialist beneficiaries payment after the handover, sending or passing out in their custody under the regulations, and the payment of the works performed or services rendered after reception in compliance with contract terms.
  

(3) the beneficiary is obliged to effect the payment to products taken over or custody of the works performed and services rendered after the receipt thereof, except as required by law. The same obligation rests with the beneficiary and where, although the contract was made, payment is made at the request of the supplier, however it has not asked for it.
  

(4) In the case of goods which, pursuant to the contracts, shall be consigned directly to the final beneficiaries, the payment will be done through a unit intermediate payment of goods shall be carried out by the intermediate unit, upon receipt of the documents drawn up by the vendor settlement for goods actually shipped, with the right to refuse any variances observed later at the reception, the reception and settlement of the final beneficiaries.
  


Article 155 (1) the import Goods are delivered in-house by the beneficiaries of foreign trade enterprises importing in compliance with the terms stipulated in the contracts entered into or internal and external with endorsements by the competent bodies.
  

(2) foreign trade Enterprises will invoice the recipients of imported goods that have arrived, on the basis of customs import declarations, transport documents along the way and under the conditions established through internal contracts.
  

(3) those goods imported are required to accept or to refuse payment of the goods upon receipt and receive them, within the legal time-limits, on the basis of documents issued by foreign trade enterprises.
  


(4) where the receipt of imported goods and the reception is not made within 20 days of receipt of invoices in foreign trade enterprises, beneficiaries are required to have adequate payment documents in the case, with the right to refuse any subsequent differences depending on the reception, under the terms and conditions of the contracts.
  


Article 156 deliveries of products, works and runs services on credit between Socialist units are forbidden, except in cases specifically provided for by laws.


Article 157 settlement Instruments issued by the creditor and the debtor has accepted for payment, as well as those issued by the debtor in favour of the creditor, the Bank settlement, enforceable, based on which to make payment operations between Socialist units.


Article 158 the beneficiary is entitled, within the term set for acceptance or for the submission of documents to the Bank, to refuse to pay all or part, as appropriate, where: (a) delivery of goods), the execution of works or the provision of services not covered by a contract or other legal basis, provided that they not use the goods for which payment is requested;
  

b) the products have not been received before the expiration of the acceptance or other periods established by the Bank;
  

c) prices or tariffs on the basis of which it is established the amount of the payment are higher than those laid down by law, or the amount payable was fixed incorrectly;
  

d) are not respected the contractual clauses relating to the quantity, quality, delivery time, as well as other contractual clauses;
  

e) have not received the documents specified in the contract without which the products may not be received, used or recovered;
  

f) amount claimed is due;
  


Article 159 (1) economic units that deliver products, execute works or provide services organizations have the right to claim their clients that repeatedly intirzie the payment and they create financial hardship, to provide in advance the amounts necessary to carry out payments through Bank settlement tools to prove the existence of payment possibilities. In such cases, the banks are obliged, at the request of as suppliers to give relations with regard to possibilities for payment.
  

(2) where beneficiaries do not ensure in advance the amounts necessary for payment, suppliers may suspend deliveries of products, works runs or the provision of services, încunoştinţînd with 30 days before applying this measure and the organ recipient or unit upwards.
  


Article 160 (1) Socialist Units are obliged to take measures in order to ensure a permanent balance between payments and receipts.
  

(2) payments from the accounts shall be made in Socialist units restrict the availability of these accounts and loans approved.
  

(3) after exhaustion of these funds payments shall be made within the limits of revenue, in the following order: a) for payments and other payments assimilated remunerations;
  

b) payments to budget, payments from the Fund for social action, payments to fund investments and payments of insurance premiums;
  

c) payments for supplies of goods, performance of works and provision of services;
  

(d) repayment of bank loans overdue);
  

e) other payments.
  

(4) payments from the Fund for the participation of working people to benefit will be made only after the other.
  


Article 161 of The agricultural cooperatives and economic associations, intercooperatiste, in the case of loans approved and burnout, lack of availability, payments shall be made within the limits of revenue in the following order: (a) the repayment of bank loans overdue);
  

b) payments to remunerate in labour and money for other rights assimilated;
  

c) payments to the State budget;
  

d) payments for deliveries of goods, performance of works and provision of services, contributions to the funds necessary for the payment of pensions and other social insurance rights, as well as insurance premiums;
  

e) Fund levies intended for economic development and other funds according to what constitutes agricultural production cooperative statutes and intercooperatiste Association;
  

f) other payments.
  


Article 162 (1) within the same categories set out in the order of payments from art. 160 and 161, payments shall be made in chronological order of time limits for payment, and if they have the same term of payment in the order in which they are listed in these texts.
  

(2) amounts owed by way of enhancement shall be paid in the same order as the main claim.
  


Article 163 Deliveries of goods, works and runs services for agricultural production cooperatives and associations to make economic intercooperatiste only after the units concerned were ensured of payment possibilities of such cooperatives and associations.


Chapter 7 State insurance State Insurance Article 164 shall be to contribute, by means of specific, restore property damaged or destroyed as a result of disasters and accidents, to repair some of the damages that the insured persons responsible under the law to carry out measures of provision and saving.


Article 165 (1) State Insurance include insurance branches, and civil liability, in the form of insurance by operation of law or voluntary.
  

(2) Insurance by operation of law shall ensure, together with the compensation of those make, satisfying economic and social interest of all communities in the defence of national wealth, maintaining the continuity of the production process and the protection of victims of accidents and their families.
  

(3) optional Insurance ends for goods, person, or non-risk insurance by operation of law or in addition to them.
  

(4) security agreements with foreign engagements, receive submissions and operations risk and reinsurance premiums.
  


Article 166 (1) insurance Relations are established between the State Insurance Administration, as the insurer and Socialist units State, cooperative or other organizations, public organizations and individuals, as make. In Exchange for insurance premiums paid by make in insurance by operation of law or non-binding, the insurer takes over the obligation to grant compensation or sum insured in case of certain events.
  

(2) the categories of units, supplies and people who ensure the risks, premium rates, sums insured and other rules on invalidity insurance shall be determined according to the legal provisions.
  

(3) insurance Relations with socialist State units are considering covering damages of insured events, the compensation granted to those units helping to maintain continuity of production process.
  

(4) insurance ratios with cooperative organizations or with other public organisations aim to protect assets that belong to them, the compensation to these organizations, contributing to the reintegration of public property.
  

(5) insurance relations with individuals considering restoring goods, of injury coverage and creation of additional means of provision in connection with events relating to the life and integrity of persons.
  


Article 167 of Insurance Fund made up of receipts from premiums is used to ensure payment and compensation: the amounts insured, financing actions to prevent and combat damage, the statutory fund, the Reserve Fund and the reserve currency of the insurance premiums to individuals, specific and general expenses, as well as other destinations provided for by laws.


Chapter 8 Keeping monetary savings of the population Article 168 (1) the State, through savings and House Consemnaţiuni Socialist Romania, organizes and stimulate the monetary savings of keeping population.
  

(2) the Operations of the monetary savings of the population can be made and other banking institutions, within the limits of competences laid down in the statutes of their establishment and operation.
  


Article 169 (1) Deposits of the population at Home savings and other institutions Consemnaţiuni Bank are guaranteed by the State, and the right holder upon deposition is protected by law.
  

(2) Deposits of the population are not subject to prescription and be reimbursed when requested by the holders of deposits or their legal representatives, and in case of death of the holder's heirs.
  

(3) The interest shall be paid to population deposits laid down by laws.
  


Article 170 (1) the State shall ensure the deposits.
  

(2) savings and House Staff Consemnaţiuni, establishments that make operations for savings and House and other institutions Consemnaţiuni Bank is bound to secrecy regarding the name supplied and holders of deposits, amounts and any other data saved in connection with operations performed on their behalf.
  

(3) data on deposits and the operations carried out shall be given, upon request, but their holders and their representatives, and in criminal cases, criminal prosecution authorities and the courts, but after setting in motion the criminal action against holders of deposits.
  

(4) no other organ is not entitled to such information.
  


(5) violation of provisions relating to secrecy of operations constitute the offence of disclosure of some intelligence concerning public interests, provided for and punished. 251 of the penal code.
  


Article 171 (1) Romanian citizens who are foreign means of payment are obliged to submit to the National Bank of the Socialist Republic of Romania, the Romanian Foreign Trade Bank or at approved establishments, subject to the conditions provided by law.
  

(2) the amounts in foreign currency of which may, according to the law, dobinditorii of foreign means of payment on the territory of the country shall be kept in the personal accounts at the National Bank of the Socialist Republic of Romania or Romanian Bank for foreign trade.
  


Chapter 9 State budget section I General provisions Article 172 State budget contributes to the accomplishment of the Communist Party's policy of rapid development and balanced national economy, the continual lifting living standards of the population, constituting a Pai of influence over economic and social planning.


Article 173 (1) the State budget shall be drawn up annually. The budgeting exercise begins on January 1 and ending on December 31.
  

(2) The drafting of the State budget shall ensure a balance between revenue and expenditure.
  


Article 174 (1) of the State budget Revenues are made up of: a) income from socialist State;
  

b other revenue and income) related the State social insurance budget;
  

c) taxes and duties paid by the cooperative economic organizations and establishments of other public organizations;
  

(d));
  

e) taxes and duties from the population;
  

f) other income.
  

(2) Assessments of revenue entered in the budget represents the minimum tasks to accomplish.
  


Article 175 (1) Any sum which should make the State budget income, if laws provide otherwise.
  

(2) if the term of arts.33 amounts to be paid from the State budget by Socialist units, financial and banking bodies have the right to dispose of their transfer to the budget of the accounts to the respective units.
  

(3) the State budget Collection of amounts due and unpaid to the term by individuals and legal entities, other than those laid down in the preceding paragraph, shall be effected by the application of enforcement measures provided by law.
  


Article 176 (1) failure to comply with the time limits for payment of the sums due to the State budget and attract cash obligation of calculating increases penalties provided by law.
  

(2) increases delay will not be able to overcome the flow was due if the law does not stipulate otherwise.
  


Article 177 (1) of the State budget Expenditure shall be carried out in accordance with the objectives of the national plan.
  

(2) the budget of the State expenditures shall be made: (a) financing of the national economy and to the world): objectives and actions of investment according to the law is budget support, the establishment of State reserves, geological prospecting and research approved by the single national plan, carrying out complex research of general interest and those approved by the priority programmes, as well as other targets or actions with economic , laid down by laws;
  

b) socio-cultural measures;
  

(c) pensions and) other actions from the State social insurance budget;
  

d) defending the country;
  

e) functioning of the organs of State power, bodies of State administration, judicial organs and those of the Prosecutor;
  

f) other actions and tasks provided for by laws.
  


Article 178 no expense may not be entered in the State budget or done from it if there are no legal provisions for such expenses.


Article 179 Amounts approved through the State budget, within which expenditures may be made of budgetary appropriations, represents that cannot be overcome.


Article 180 the revenue and expenditure shall be entered in the State budget in the order established by the clasificatia budget.


Article 181 Socialist Units have the obligation to carry out fully and the term payments, taxes, fees and any other amounts due to the State budget and responsible for the use of funds received from the State budget, spending most of their social and economic utility of observing discipline and financial plan.


Article 182 the establishment and use of funds belonging to the State budget besides can be made only under the conditions laid down by laws.


Article 183 of the national budget is composed of the republican budget and local budgets.


The republican budget in section II of article 184 (1) republican Budget focus budget Fund main part and is administered by the central State organs.
  

(2) within the republican register budget and the budget of the great National Assembly.
  

(3) the republican Budget and State social security budget.
  


Article 185 (1) republican budget Revenues are composed of resources coming from State Socialist republican interest and other income resources determined by law as of this budget.
  

(2) The republican budget is disbursed to the income and gains derived from the budgets of the central counties, the municipality of Bucharest, which own revenue exceeding expenditures planned in the amount established by law for the adoption of the State budget.
  


Article 186 From the republican budget is necessary for ensuring financial resources objectives and actions that are financed from the central Fund for economic and social development, other objectives and actions for the economic, social and cultural actions to be implemented by the Socialist state units of the republican interest, for the costs of maintenance and operation of the central organs of State power, bodies of State administration the judicial organs, and those of the Prosecutor, defence of the country and for other destinations provided for by laws.


Article 187 (1) republican budget revenues can be attributed to the centralized budget amounts broken down by counties that can't cover in full the expenses planned their own income. If neither this way does not ensure the necessary income, the difference up to the level of expenditures planned cover from republican budget.
  

(2) Amounts broken down, and subsidies granted from the budget increase, which Republicans in filling out their own revenue of local budgets approved annually for each county in part by law.
  


Article 188 shall be entered In the republican budget and the budget reserve fund at the disposal of the Council of State which are used for supplementing, in duly substantiated cases, certain credits approved by the State budget in order to finance, according to legal provisions, to new tasks or actions occurring during the year.


Section III local budgets Article 189 (1) local budgets sin budgets of administrative-territorial units.
  

(2) every township, city, municipality, district of Bucharest city, County, and Bucharest has its own budget, which is adopted by the people's Council of the respective administrative-territorial unit, under the present law.
  


Article 190 (1) Income budgets of communes, towns, municipalities, counties, sectors of Bucharest and Bucharest are composed of resources coming from the Socialist state units of local interest, taxes and fees paid by the cooperative organizations and units of other public organizations, taxes from the population, local taxes and other revenue determined by law as resources of these budgets.
  

(2) for the purpose of infaptuirii autofinantarii in every township, city, municipality and county committees and the executive offices of the popular councils have an obligation to take action to improve their own income base through the development of local economic activities, the provision of services and other activities, taking into account the requirements of the population.
  


Article 191 From budgets of communes, towns, municipalities, counties, sectors of Bucharest and Bucharest is financed, in accordance with the provisions of the action plan, targets and economic, social and cultural actions, expenses for maintenance and operation of the local organs of State power, bodies of local State administration and other objectives laid down in the laws.


Article 192 allocation of income and expenses categories of local budgets is made by executive committees of councils and popular of Bucharest, on the basis of legal norms, depending on local bodies and powers of subordinating units.


Article 193 (1) In cases where the expenditure in the budgets of some municipalities, sectors of Bucharest, cities or municipalities may not be covered entirely from its own revenues, to balance the respective local budgets can assign amounts broken down by republican budget revenues collected on the territory of the administrative territorial unit in question, or grants from the budget of the administrative territorial unit hierarchical superior.
  

(2) the amounts of the proceeds broken down the republican budget available to municipalities, the sectors of Bucharest, cities or municipalities shall be determined by the county councils and the popular Bucharest, up to amounts approved annually by law on counties and Bucharest.
  


(3) in the case of municipalities, the sectors of Bucharest, the towns or communes whose own incomes exceed expenditures planned, appropriate spill differences to the territorial-administrative unit hierarchically superior.
  


Article 194 Counties, Bucharest, as well as cities and towns which have in their and other component localities determine their needs and budgets. In these centralized budgets included both the budget of the administrative territorial unit in question, as well as the budgets of communes, towns, municipalities and sectors of Bucharest, hierarchically inferior, as appropriate.


Article 195 (1) In the budgets of Bucharest and the counties are part of the budget reserve funds at the disposal of the executive committees of their respective Councils, popular for use under this law to supplement the budgetary credits approved by local budgets, in order to finance new tasks or actions occurring during the year.
  

(2) where, in the course of the year, the budget reserve funds become insufficient to finance new actions or tasks, and executive committees of Councils popular find some budgetary availability of credit are no longer needed by the end for performance of the tasks planned budgetary reserve funds may be increased by these facilities up to a maximum of 50 per cent of the amount originally approved by the budget.
  

(3) cannot be used with this destination availability of budgetary credits arising from expenditure on remunerations, including tax on the total remuneration and contribution to the State social security funds for investments and capital repairs, expenses for which, by law, it establishes special funding sources, expenditures for whose coverage has additional budgetary reserve fund as provided for in the republican budget as well as the availability of budgetary appropriations which, according to this law, shall be transferred from the budget reserve fund as provided for in the budget.
  


Section IV the development, adoption and execution of the State budget.
The conclusion of the budget exercise Article 196 (1) the draft of the State budget shall be drawn up on the basis of revenue and budget projects expenditure of ministries, other central organs of State power and of the projects, as well as the revenue and expenditure budget of the counties and Bucharest.
  

(2) the bodies of collective leadership of ministries and other central organs ensure the draft budget of income and expenditure relating to the work of subordinate units and their own activities.
  

(3) executive committees of Councils shall draw up budgets for projects popular income and expenses, based on revenue and budget projects expenditure of direct subordinate units, and projects revenue and expenditure budgets of administrative-territorial units hierarchically inferior.
  


Article 197 draft budget of revenue and expenditure drawn up by the ministries, other central organs of State executive committees of councils and popular of the municipality of Bucharest, which comprise financial indicators, both throughout the activity, as well as on Central, shall be transmitted to the Ministry of finance together with supporting calculations and indicators. Also be transmitted to the Ministry of finance income and expenditure budgets of the Central Government.


Article 198 Finance Ministry proposals for improving financial indicators presented by ministries, other central organs of State, Central and executive committees of councils and popular of the municipality of Bucharest, together with their representatives, taking into account their own analyses and calculations relating to the level of revenue and expenditure of the State budget, the lessons learned from checks conducted over the Socialist state units.


Article 199 (1) the Council of Ministers shall examine the work presented by the Ministry of finance, bringing improvements of financial indicators, and any differences between soluţionînd the Ministry of finance and the holders of the plan regarding the proposed figures to be entered in the budget and the draft State budget settled into shape.
  

(2) the draft of the State budget, prepared by the Council of Ministers, after his examination by the Council of economic and social development, must be submitted for approval to the Grand National Assembly.
  

(3) local budgets Draft is subject to the legislative Chamber of the debate.
  


Article 200 (1) National Assembly adopting the State budget law.
  

(2) following the adoption of the law on State budget, the Council of Ministers shall draw up proposals on conducting financial indicators on ministries, other central organs of State executive committees and Central's popular County Councils and of the municipality of Bucharest which is approved by the Decree of the State Council during which the measures to be taken in order to carry out in good condition of the State budget.
  


Article 201 (1) draft budgets of Bucharest and the counties, improved on the basis of the annual budget law and State approved indicators, according to art. 200 para. (2), shall be submitted by the executive committees to adopt the popular councils.
  

(2) the County Councils and the popular Bucharest adopt centralized budget of administrative-territorial units concerned with the distribution of income and expenditure on the budgets of administrative-territorial units, budget of its own components, as well as balancing resources on administrative-territorial units, components, or the amounts to be collected from budgets of administrative-territorial units hierarchically inferior, as appropriate.
  

(3) the Councils of communes, towns, municipalities and sectors of Bucharest, within the limits set by the hierarchically superior popular councils, local budgets concerned.
  


Article 202 (1) the revenue and expenditure shown in the budget shall be divided by quarters, depending on the tasks of the plan conducted by the Decree of the Council of State and legal time limits of income and payment.
  

(2) allocation of quarters of revenue and expenditure shall be approved by the Ministry of Finance: (a)), the republican budget proposal of ministries and other central organs of State. in addition, the Ministry of finance approves the allocation of quarters to take-in the income referred to the republican budget is disbursed by the counties ' budgets, respectively Bucharest city at its own revenues exceed planned costs amounts broken down by republican budget revenues, as well as what grants shall be paid from the republican budget local budgets, on the proposal of the executive committees of councils and popular of Bucharest;
  

b) committees or executive offices of the popular councils, for the budgets of the respective administrative-territorial units, as well as for the subsidies provided to be awarded or what amounts are retrieved from the local budgets of administrative-territorial units hierarchically inferior;
  

c) authorising officers by parent loans, subordinate units for.
  


Article 203 allocation of quarters of revenue and expenditure of the State budget may be amended when changes in the breakdown of tasks, change the due time of the revenue or payment, and in other justified cases, according to legal provisions.


Article 204 (1) budgetary appropriations approved under republican budget can only be used after opening credits or the supply of funds by the Finance Ministry, and those made in the local budgets, subject to availability at the expense of their respective authorising officers.
  

(2) the grant of funds to the budget shall be at the limit of the amounts and according to the approved destination, in relation to the degree of use of the resources made available earlier, in compliance with the legal provisions governing the carrying out of the respective expenses.
  


Article 205 (1) shall be prohibited for direct payments from revenues for the budget, unless otherwise provided by law.
  

(2) Any expense of the amounts received from the State budget can be approved by the officer and conduct only if it was previously approved under the law by the head of the financial-accounting compartment or other persons charged with the exercise of preventive financial control of Socialist, and other organs dealing with such economy.
  


Article 206 (1) authorising officers by parent loans are you republican budget ministers and heads of other central bodies of the State.
  

(2) authorising officers by parent loans do you have local budgets are Chairmen of committees and the executive offices of the popular councils.
  

(3) heads of State Socialist units with legal personality financed from the republican budget or local are, where appropriate, otherwisely or terţiari.
  


Article 207


(1) the main credits may authorising officers approve the making of expenditure only in compliance with the provisions laid down by law and within the limits provided for in budgets of revenue and expenditure of the institutions they run and have the right to object, in relation to the tasks of the plan and with the use of sums previously granted, credits budgetary units hierarchically inferior.
  

(2) Shall have the right to use secondary according to the intended use and in compliance with legal norms, budget appropriations approved for their units and to allocate budgetary loans subordinated units whose leaders are instructing terţiari.
  

(3) Authorizing budgetary appropriations used terţiari which they have been assigned only for the needs of their units, according to the provisions of the revenue and expenditure budgets approved and under the conditions laid down by laws.
  


Article 208 the main credits authorising officers may delegate the right to approve the use of budgetary allocations and the distribution of their inlocuitorilor and heads of divisions, heads of local bodies of State administration or other similar units as appropriate.


Article 209 Ministers, heads of other central organs of State executive committees Chairmen and bureaux of the popular councils, as well as heads of units subordinated to the State shall be responsible for the use with efficiency the amounts received from the budget of the integrity of the goods entrusted to the unit I lead, keeping an up-to-date accounting and reporting on the implementation of the budget.


Article 210 during the execution of the State budget, Ministers and heads of other central organs of State executive committees Chairmen of county councils and popular of the municipality of Bucharest, when do proposals for drawing up normative acts whose scope attracts decreasing or increasing revenue expenditure targets set in the State budget, to provide the necessary means of compensating revenue or spending increase coverage.


Article 211 (1) ministries, other Central and local bodies, economic units, institutions have an obligation as to the commitment of expenditure on account of resources provided for in the State budget to consider how to achieve the budgetary revenue planned and to act for the implementation of the budget of revenue and expenditure, in the conditions of utilizing planned in dealing with the State budget.
  

(2) where, at the end of quarters, budgetary revenues were not achieved by some main credits instructing planned and did not ensure the balance of the State budget as a whole, the Ministry of finance may block, sum, credit provisions nerealizata budgeting in later periods of the authorising officers concerned. The use of budgetary allocations may be blocked only if the level of achievement of the revenue plan or with the approval of the Council of Ministers at the request of the Chief authorising officer, with proposals to ensure the planned balance in dealing with the State budget.
  


Article 212 of the budget revenue and expenditure of the ministries, other central organs of State and local budgets, as well as in the budget of revenue and expenditure of the subordinated units can be made of budgetary credits virari, beginning with the second quarter of each year, with the provisos: a) to be approved before commitment of expenditure;
  

b) availability not used come from budgetary appropriations for remunerations, including tax on the total remuneration and contribution to the State social security, investments and capital repairs, from amounts made available from the budget reserve funds and other funds whose destination was established by legislation;
  

c) not to increase budgetary appropriations approved for the maintenance and operation of State bodies;
  

d) does not increase the amounts entered in the budget for completion of own resources of State institutions, except where, by law, be supplemented approvals Fund staffing, payroll, approved them.
  


Article 213 Virările budgetary credits shall be approved by the Ministry of Finance: (a)), in situations in which virările shall be carried out from one chapter to another of clasificaţiei;
  

b) Ministers and heads of other central bodies of State budgetary credits for virările from one chapter to another within the same chapter, as well as from one article to another within the same subheading of the clasificaţiei;
  

c) committees and the executive offices of the popular councils, the budgetary credits for virările from a chapter of expenditure to another within the same chapter of the clasificaţiei;
  

d) committees and Chairmen of executive offices of the popular councils, for virările from one article to another within the same subheading of the clasificaţiei;
  

e) authorising officers, for virările credits from one paragraph to another within the same item of budgetary expenditure clasificaţiei's own institution.
  


Article 214 in situations where, on the basis of legal provisions, crossing units, actions or tasks from a holder of the plan to another, or to be included in the investment plan works reserves approved for that purpose, the Ministry of finance will introduce appropriate amendments in the respective financial indicators, as well as the volume and structure of the State budget.


Article 215 (1) where, in accordance with the legal provisions, the planned staffing, payroll shall be increased, budgetary appropriations for remunerations, including tax on the total remuneration and contribution to State social insurance can be supplemented by virari from other categories of expenditure, except for those intended for the financing of investments.
  

(2) when, according to legal provisions, investment plan, budget appropriations shall be increased with this destination may be supplemented through virari from any other category of expenditure, except for remunerations, including tax on the total remuneration and contribution to State social insurance.
  


Article 216 (1) of the remaining unused budgetary Appropriations at the end of quarters I, II and III shall be blocked, except for destinations and local Fund Fund of territorial-administrative units of the economic and social development or for other targets and economic actions.
  

(2) the Ministry of finance for the republican budget funded units and committees or executive offices of the popular councils, for the units financed from local budgets, may approve the use of the following quarter to budgetary allocations at the end of quarters blocked I, II and III at the reasoned request of the authorising officers leading the republican budget credits you that authorising officers you local budgets.
  

(3) Availability of budgetary appropriations for remunerations, established according to legal provisions, including the tax on the total remuneration and social security contribution thereto, shall pass from the budgetary reserve fund as provided for in the budget. In the same way proceed with: availability blocked from budgetary appropriations for which has not been requested or has not been received within 45 days of the end of the quarter, the approval for use in the next period; availabilities occurring during the year as a result of remarks delivered by the learning objectives or tasks plan that formed the basis for approval of budgetary funds; other passengers as provided by law.
  


Article 217 (1) budgetary reserve funds at the disposal of the executive committees of councils and popular of Bucharest established under art. 195, can be used to share or new nature of the tasks contained in the local Fund for economic and social development or in other parts of the budget, in the proportions set forth for them by annual budgets.
  

(2) In justified cases, financed from the budget reserve fund at the disposal of the executive committees of the District Councils and the popular Bucharest, unfinished until the end of the year, will be covered and in the following year on account of the budget reserve fund.
  

(3) commitment of funds of the budget can be done starting with the second quarter, after the end of the first quarter accounting's account, where at the time of his engagement has been wholly own revenue in that period's planned district or on Bucharest, where appropriate, and if the necessary conditions are secured as such income to be made and on a year-round basis.
  

(4) to cover expenses related to the rebuilding of destroyed or degraded as a consequence of some natural disasters, produced in the first quarter of the year, as well as further work referred to in paragraph 1. (2) executive committees of councils and popular of Bucharest can hire the budgetary reserve funds even in that quarter.
  


(5) it is prohibited the hiring of expenditure by executive committees of Councils of reserve funds approved in budget local budgets for construction-Assembly works executed improperly, the increase of subsidies approved economic entities or State institutions, as well as to supplement the costs of maintenance and operation of the local organs of State administration, with the exception of urgent character repairings to buildings used for administrative tasks, and the work of joints and other installations.
  

(6) In the event of failure on the County's own revenue total planned budgetary reserve fund that can be used will be reduced by the equivalent of revenue unrealized at the date of entering the budget reserve fund.
  


Article 218 (1) to cover temporary gaps occurring during the year between expenditure and revenue budgets of communes, towns, municipalities and sectors of Bucharest, the committees or the executive offices of the popular councils of the administrative-territorial units hierarchically superior can lend from the available resources of their budgets. Right to approve such loans may be delegated by the executive committees or offices of the popular councils authorizing parent or their inlocuitorilor.
  

(2) where gaps occur at the level of counties and Bucharest city budgets, their temporary coverage can be done through the granting of loans from the available resources of the republican budget, the Ministry of Finance, at the reasoned request of the executive committees of Councils.
  


Article 219 Income what is achieved over those that were established by the republican budget will be used throughout the year, with the approval of the Council of Ministers, to finance new tasks relating to the national economy and the social and cultural actions.


Article 220 (1) Committees and the executive offices of the popular councils can use proceeds from their own revenues of local budgets over the planned only with effect from the third quarter of the year, to cover economic costs and realization of certain socio-cultural actions, appropriate amendments introduces local budgets under the following conditions: a) have receipts to be exceeded on all revenue in local budgets planned own respectively and are expected to remain until the end of the year;
  

b) income gains to come in the year of the plan and not be the result of changes in legislation or certain bodies established by subevaluari the Ministry of finance or other bodies with attributions of control.
  

(2) changes in local budgets, according to the provisions of this article, shall be subject to ratification, the Councils first session.
  


Article 221 Committees and the executive offices of the popular councils can overrule the executive committees and offices of popular councils through which hierarchical inferior were approved, without complying with legal rules, additional plans for revenue and expenditure, virari, quarterly allowances changes or other changes in local budgets.


Article 222 (1) remaining unused budgetary appropriations from budget year runs out is cancelled by operation of law.
  

(2) Any amount due but unpaid from the budget, as well as any outstanding amount due but the budget until 31 December shall be paid, shall be charged to the account on next year's budget.
  

(3) in exceptional cases, the Council of Ministers may approve expenditures, have been carried out since the end of the budget year, the budget of the year expired operations executed but unsettled by the end of the year.
  


Article 223 (1) republican budget Surplus should be used for economic and socio-cultural or other actions, under the conditions established by law, or as a resource for lending to the domestic economy.
  

(2) the annual budgets of the local Balances shall be provided as revenue in next year's budget.
  

(3) any differences resulting in more or less since the end of the budget year, compared with the balances referred to in local budgets shall be reconciled with the republican budget, with the exceptions provided for by the provisions laid down by law.
  


Article 224 on the basis of the accounting reporting presented by ministries, other central organs of State executive committees of councils and popular of Bucharest and the scrutiny and analysing them, the Ministry of Finance shall prepare the work on the general account of the end of the budget year, the Council of Ministers.


Article 225 the Council of Ministers shall examine the work submitted by the Ministry of finance and the general account shall be drawn up by the end of the budget year, which it shall, after examination by the Council of economic and social development, for adoption of the great National Assembly, together with the correlation of the Upper Court verification of financial Control.


Article 226 (1) National Assembly adopt a general account of the end of the budget year, the latest by the end of the year following the year to which they relate.
  

(2) Similarly, the popular councils approve the General accounts of the end of the year, local budgets drawn up by the respective executive committees or offices, where appropriate.
  


Chapter 10 Powers and responsibilities in the development and implementation of the budget of income and expenditure of the State budget and other financial plans Article 227 (1) the Council of Ministers, the supreme organ of the State administration, general control over the work of the activity in the field of finance, responsible for the drafting of the State budget, as well as its achievements after its adoption by the National Assembly.
  

(2) in the exercise of its duties, the Council of Ministers shall examine periodically the financial situation in the economy and the branches or sectors of activity, and the implementation of budget revenue and expenditure of the State budget and other financial plans, performs analysis on the whole economy of the economic-financial activity results on the basis of the balance sheet, sets measures to maintain financial equilibrium, monetary and exchange rate, for the strengthening of the role of finance and credit in the economy.
  

(3) Furthermore, the Council of Ministers take steps to strengthen accountability in the management of public money, the establishment of a regime of severe savings, reduction of costs, to combat any form of waste.
  


Article 228 (1) the Ministry of Finance carries out the policy of the party and rule in the area of finance and acting to ensure financial equilibrium, monetary and foreign exchange of the country.
  

(2) In the center of the Ministry of finance must stand for increasing the concern of efficiency in the national economy.
  


Article 229 the Minister of Finance has the following attributions, follow-up of their fulfilment: to participate in the elaboration of forecasts) and the five-year and annual plans for economic and social development of the country; draw up, in cooperation with the State Committee of centralized Planning, financial plan, plan on spending proposals and circulation, as well as economic efficiency indicators;
  

b) prepares the work on drafting the State budget; seeks and controls the execution of the budget of the State; directs and controls the preparation and execution of the budget of revenue and expenditure of the establishments; or, where appropriate, propose measures to strengthen accountability in the management of the funds, their rational use, removal of residuals and strengthening financial discipline and plan;
  

c) cooperates with the central bodies in the preparation of synthesis and execution tracking income and expenses balance of monetary, credit and plans to home, the balance of foreign payments and the balance of claims and liabilities;
  

d) ensure funding branches of national economy on the basis of the provisions of the single national plan, the State budget and the budget of income and expenditure; aims and determine efficient use of funds;
  

e) exercise, according to the law, on behalf of the State and to defend its interests, control over financial and economic activity of the ministries, other central organs of State executive committees, the banking institutions of the popular councils, power plants, enterprises, and other socialist establishments;
  

f) examines and gives a technical-economic indicators set forth in legal documentation for your investment goals, according to the law;
  

g) organizes, directs and controls the establishment and collection of revenues owed by Socialist units; directs and controls the method of calculating taxes, income and identification and collection of taxes from the population;
  

h) draw up, on the basis of and to enforce the laws, guidelines concerning financial planning, execution of the State budget, the establishment and collection of revenues, accounts of Socialist units; clasificatia sets the budgetary revenue and expenditure;
  

I) attend negotiations in financial and currency issues, economic cooperation and the international financial organizations;
  


j), together with the Ministry of foreign trade and economic cooperation international and Romanian Foreign Trade Bank the fulfilment of financial obligations, according to contracts concluded in the framework of economic cooperation and technical-scientific;
  

k) represents the State as the subject of rights and obligations in arbitration, judicial bodies, as well as in any other situations in which it participates directly in its own name to legal ratios, in the cases where the law does not establish, to this end, another body;
  

It performs other duties) and provided for in the law on the organisation and operation or in other laws.
  


Article 230 the Minister of finance to attend, along with the Central Directorate of the State Committee on Statistics of the Ministry of Planning, Purchasing and material management and Control of funds, central banks and other bodies with an interest in the Organization of national wealth.


Article 231 the Ministry of finance together with the State Committee of the Ministry of Planning, Purchasing and material management and Control of funds, Central Statistics Directorate, central banks, other bodies and ministries, analyzes systematically on the basis of the accounting balance sheets, results of activity throughout the economy, branches and sectors of activity, the volume and structure of stocks and take or propose measures to improve the economic and financial situation of Socialist.


Article 232 National Bank of the Socialist Republic of Romania, the Bank for agriculture and the food industry, the Investment Bank and the Romanian Foreign Trade Bank, as organs of the State, infaptuiesc and ensure that, in their work, party and State policy in the field of monetary and credit expansion, according to the provisions of this law and of the law and their statutes and operation.


Article 233 (1) Banks have a duty to control, on behalf of the State and to defend its interests, the way it is constituted and funds shall keep record of them, how the used material and monetary means of Socialist units and to take measures to identify new opportunities for revenue growth, and a full collection of duties in lei and foreign currency of the country , making spending in a severe savings and in accordance with the destination laid down in the plan, providing refund of loans.
  

(2) Banks acting for carrying out tasks arising from loans and plans and for the employment of money circulation within the limits approved. They will be issued only within the limits of funds approved plans and in compliance with legal provisions.
  


Article 234 Banks, each in its sphere of activity, have the following powers, fulfilling their follow-up: a) participate in the elaboration of the national plan's unique economic and social development;
  

(b) exercise control over fulfilment) of the production economic plans, the movement of goods and the revenue and expenditure budgets, management of funds and materials, as well as on the use of overheads, operative measures to strengthen discipline in the field of money and disbursements;
  

c carry out credit operations), settlements and other banking operations, as well as controlling the use of staffing;
  

d) unloads on the implementation of the budget of the State House; exercise, according to legal provisions, control and the achievement of revenues to finance their expenditure from the budget;
  

e) participate in elaboration of foreign payments and the pursuit of achieving it;
  

f) banking arrangements pursuant to the payment agreements, credit agreements and other financial arrangements; actions carried out financial cooperation.
  


Article 235 National Bank of the Socialist Republic of Romania, as a Central Bank of issue, and the following special powers, fulfilling their follow-up: a) issue and put into circulation by the Bank tickets and coins, according to the legal provisions;
  

b) organizes and coordinates the monetary circulation, as well as work on short-term lending and disbursements in close harmony with the requirements of the development of the national economy; follows and analyzes trends and phenomena in the field of monetary circulation conjectural and credit, in the process of plan, operating within to ensure normal evolution of money circulation and credit;
  

(c)) shall, together with the specialized banks and other central organs provided for in the laws, draft plans and loans on the economy, on the basis of the tasks set out in the national plan and the State budget;
  

d) specialised in loans banks grant completing their funds and seeks how to administer these means;
  

e) organizes the operations relating to the execution of the State budget's House, based on data rules with the consent of the Ministry of finance;
  

f) determines, modify or propose, according to legal provisions, together with other central organs during the Lions of foreign currencies; organize and perform, directly or by other socialist exchange units;
  

g) participate, along with other central organs in drafting plans for the distribution and retrieval of precious metals; keep and manage state reserve for precious metals;
  

h) exercise control of production, processing and circulation of precious metals, according to the legal provisions;
  

I) meets and other powers provided for in the law on the organisation and operating status.
  


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 powers in the field of investment, fulfilling their follow-up: a) participate in the investment plan and the establishment of the central objectives and undertakings operating within the direction of the use of the existing capacities and highly efficient use of investment funds;
  

b) verifying claims for money from beneficiaries, following the use of investment according to the rules and laws of the funds placed at their disposal;
  

c) examines and gives a technical and economic documentation for investment, according to the law;
  

d) organizes and conducts credit operations and financing of investments; controls the establishment of investment funds and their use according to the destination laid down in the plan;
  

e) exercise control and act for investment plan;
  

f) meet and other powers provided for in the laws and statutes.
  


Article 237 of the Romanian Foreign Trade Bank, as a specialized Bank for carrying out operations with the former Soviet republics, has the following specific duties to carry out follow-up: a) organizes and carries out receipts and payments relating to foreign trade operations, manages the availability of means of payment; buy and sell foreign currencies in the country, and the actual effects on trade, as well as foreign securities and obligations;
  

b) correspondent arrangements with foreign banks and financial institutions;
  

c) receives and grant loans in foreign currency from abroad in that purpose conclude agreements or other arrangements; grant loans in foreign economic entities with foreign trade activity, as well as ventures based in the country, in accordance with the rules laid down by law;
  

d) deliver trade effects in foreign owners and accept trade effects issued upon himself; avalizeaza and guarantee the trade effects emanating from third parties, deliver and receive payment for collateral arrangements abroad;
  

e) meets and other powers provided for in the law on the organisation and operating status.
  


Article 238 In pursuit of their duties, the National Bank of the Socialist Republic of Romania and the specialized banks shall draw up, on the basis of and pursuant to the legal provisions, the detailed rules relating to the planning and the granting of credit for the production and circulation of goods, investment, financing and crediting payments without cash and cash operations, making disbursements, calculation and control of use, the issue of staffing and other banking operations.


Article 239 House savings and Consemnaţiuni Socialist Romania, as banking institution specialized in dealing with population, has the following powers, fulfilling their follow-up: the money attracting savings) is organizing groups of the population; performs operations on delivery of their keeping and records of amounts;
  

b) performs operations on crediting of population for private housing construction and for the purchase of housing by the State, and in other cases provided by law;
  

(c) to the execution of operations) of the House of the State budget and other operations of receipts and payments and secure banking establishments and organizations who keeps money in accounts at C.E.C.;
  

d) meets and other powers provided for in the law on the organisation and operating status.
  


Article 240 (1) credit unions and their members grant loans from its own funds, for the purposes and under the conditions laid down in their statutes and other laws.
  


(2) credit unions can make, on the basis of agreements concluded, operations warrant for other institutions.
  


Article 241 of the State Insurance Administration has as its duties, the fulfilment of which respond, organizing the activity of insurance of goods, persons and civil liability, the establishment or the proposal for measures with the aim of their continuous development, improvement of specific instruments and improving service to the insured, as well as other tasks stipulated by the law on organization and functioning.


Article 242 (1) financial-banking Council, an advisory body of the Council of Ministers, examines phenomena and trends that emerge in the financial, monetary and exchange rate, draw up studies and analyses and present proposals for measures to translate into lives of financial and monetary policy of the party and the State, enhance the effectiveness of monetary funds and materials, strengthening the purchasing power of the national currency, the use of active pirghiilor.
  

(2) financial-banking Council acts and establishes the measures foreseen by the law for the implementation of financial policy firmly to the Communist Party for the Novel use of pirghiei economics and finances in control of economic and social activity.
  


Article 243 (1) Superior Court of financial Control organ of the State Council of the Socialist Republic of Romania according to the law, exercise, its organization and functioning, the preventive financial control and compliance with decisions later, watching the party and the country's laws, increase economic efficiency and social funds in all areas of activity, judicious management of funds and materials, the strengthening of financial discipline, aiding in the establishment of Socialist units solutions and measures for the prevention and elimination of deficiencies improving economic and financial activity; exercise jurisdictional responsibility for assets damage to public property and administrative liability for violation of legal provisions with financial character.
  

(2) the Superior Court of financial Control targets and coordinate control of the financial-banking sector, thanks to the unit of conception, method and progress.
  


Article 244 ministries and other central organs in the performance of duties in the financial field, acts and shall be responsible for: (a) budget income) and expenses and the fulfilment of its provisions; full realization, the Ministry as a whole and on each unit is subordinated to the benefits and other monetary accumulations planned resources to finance investment, timely and in the proportions laid down in the plan of the obligations relating to the refund of the amounts received by the company for investment and working capital, as well as the obligations relating to payments to the State budget; the establishment and use of legal and efficient funds;
  

(b) increase efficiency) of the exported products, works performed and services rendered, foreign functionaries in terms of efficiency of actions of economic cooperation and the international scientific and technical;
  

c) balance-based analysis of financial-economic activity of subordinated units and taking action to improve continue, to increase supply branches to the economic and social development of the country;
  

(d) systematic supervision of) the exercise of the activity of the subordinate units, in order to achieve revenue and expenditure referred to in the budget revenue and expenditure, the use of high-efficient technical-material base available to them;
  

e) other tasks provided for by laws.
  


Article 245 executive committees of councils and popular of the municipality of Bucharest, Bucharest sectors and municipalities, as well as the offices of the executive councils of cities and communes, in the performance of duties in the financial field, acting and responding, as appropriate, of: (a) autofinantarii) ensuring the territorial-administrative units by increasing permanent income;
  

(b) elaboration and execution) of the budget of revenue and expenditure and revenue and expenditure budgets of administrative-territorial units hierarchically inferior, and other subordinate units; the establishment and use of legal and efficient funds;
  

c developing and pursuing the achievement of) financial plans in territorial;
  

d) Organization, direction and control of the activity of local specialist regarding the establishment and collection of taxes, fees and other revenue;
  

(e) systematic supervision of) the exercise of economic and financial activity of subordinated units in order to strengthen you, voluntaries and discipline and financial plan, as well as public defence property;
  

(f) accounting and balance sheets) analysis of measures for improvement of economic indicators and financial subordinate units;
  

g) other tasks provided for by laws.
  


Article 246 (1) In the performance of tasks in the field of finance to the local executive committees of councils and popular of Bucharest are organised as local organs, financial authorities, which are subordinated and Ministry of finance.
  

(2) Financial Administration shall have the following powers, fulfilling their follow-up: a) work on drafting draw up the budget of revenue and expenditure and the local budgets;
  

b) execution in good condition of the budget of income and expenditure of local budgets, as well as the way in which financial indicators is carried out by the local unit, according to the intended use and within the limits laid down, with due regard for the legal provisions;
  

(c)) shall, in cooperation with the organs of territorial planning and banking establishments, financial plan in territorial and chasing 161 periodically;
  

d) participate in the drafting of plans and plan, as well as to the pursuit of these plans;
  

e) carried out according to legal provisions, taxation of individuals and businesses, and establish the first insurance by operation of law;
  

f) pursuing full collection of taxes, fees and other revenues of local budgets, as well as insurance premiums by operation of law;
  

g) organize the financing and operations of local budgeting;
  

h) draw up reports on the execution of local budgets into account and develops work on account of the end of the budget year;
  

I participate in the preparation works) of the territorial planning;
  

j) directs and controls the work of the specialized organs hierarchically inferior local;
  

k) meet and other duties, according to the legal provisions.
  

(3) advising the executive committees of councils and municipal popular executive offices of the popular councils, municipal districts are organized by financial or financial services, where appropriate, fulfilling the tasks referred to in the preceding paragraph, adapted to the specifics of their own.
  


Article 247 (1) coordination in territorial measures on the implementation of the party and State policy in the field of financial, monetary and credit is achieved by financial and banking committees, what is organized in each district and the municipality of Bucharest.
  

(2) the Commission shall examine the financial and territorial draft financial plan in territorial and how to comply with it; coordinates the activity of State control of income and taxes and fees from the public; organize the units of republican and local interest shares advanced analysis and control on the elaboration and substantiation of budget revenue and expenditure, the management of material resources and money, compliance plan and financial discipline and legal provisions in the field of prices; examines the way regularly to carry out the plans, House, investment funds and financial and economic results of Socialist units in the County; examines issues relating to accounting and how verification and analysis of the financial and banking statistics, balance sheets and annual accounts of Socialist units; analyzes and other financial matters, monetary and credit, showing keen interest.
  


Article 248 Plants and undertakings, in the performance of obligations in the field of finance, acting and responsible for: the budget of income) and expenses and the fulfilment of its provisions; the full realization of benefits and other monetary accumulations planned resources to finance investments; timely and in the proportions laid down in the plan of the obligations relating to the refund of the amounts received by the company for investment and working capital, as well as the obligations relating to payments to the State budget; the establishment and use of legal and efficient funds; maintaining the permanent capacity for payment;
  

(b) increase efficiency) of the exported products, foreign works performed and services rendered; realization of efficiency in terms of economic cooperation and the international scientific and technical;
  


c) use with maximum efficiency under the conditions laid down by law and in accordance with the provisions of the plan, material resources and Manpower, funds and investment, reduce expenses thanks permanent production and, in particular, of those materials; strengthening of the economic and financial self-administration;
  

d) organisation of accounting and a rigorous exercise financial control over the way in which they are applied, the provisions of the relevant laws and the decisions of the hierarchically superior bodies and their own decisions, in order to strengthen accountability, order and discipline in the management of monetary and material assets;
  

e) fulfilment of the other tasks established by the law on the Organization and leadership of the Socialist state units and by other laws.
  


Article 249 (1) collective organs of direct participation of units of the Socialist working people at the helm of the entire economic and financial activities, debating and resolving economic and financial importance to the unity and responsible for the development and realization of measures necessary for carrying out the tasks of the plan.
  

(2) the councils working people are obliged to submit to the General Assembly of the working people, for adoption, budget revenue and expenditure analysis, financial and economic activity on the basis of the balance sheet, the tasks and goals for the next period and the organisational and technical measures in order to achieve them.
  


Article 250 (1) leader of Socialist and leader bin unit financial accounting answer from the State and towards the Group of working people of the observance of contractual and financial plan, measures are taken to ensure the integrity of the public property, development and efficient management of material resources and money, having the obligation to refuse, in accordance with the law, any operation that violates laws of heritage.
  

(2) the expenditure of money and material unit is done according to the law, only by the Director and leader bin financial accounting.
  

(3) the driver compartment financial accounting is required to exercise preventive financial control regarding economic efficiency indicators on the economic and technical documentation, prior to submission to approval, aiming, in particular, ensuring that the disposal of domestic production and export market, and its competitiveness in terms of quality and efficiency, achieving superior efficiency indicators to those make the existing production capabilities similar to , taking into account technical and economic developments in perspective, reduce the cost of investment. At the same time, preventive financial control over exercise documentation through which engages in foreign exchange payments, tracking the effectiveness of insurance funds used for financial stability and currency planned.
  


Article 251 of the appointment of the leader of the Socialist Unity according to take over, according to the law, the administration of the patrimony of the unit assuming and contractually liability and commitment to householders with care and effectively and to develop means of material and monetary unity.


Article 252 the driver compartment financial accounting is responsible for financial and accounting activity, in which end:), according to ensure laws, establishing the budget of revenue and expenditure, as well as tracking how compliance with financial indicators and take or propose measures to increase profitability, accelerating the speed of rotation of circulating assets, achieve the funding resources of its own, judicious management of these funds the other material means and monetary and financial commitments;
  

b) organizes accounting and preparation of balance sheets;
  

(c) ensuring the performance of) the financial accounting compartment with regard to preventive financial control, operative control and balance-based analysis of the results of the work of the establishment; aims the establishment of planned funds and their use according to the intended use, in compliance with legal provisions.
  


Article 253 (1) the driver compartment financial accounting, and the agencies charged with carrying out the preventive financial control will refuse a visa for orders, contracts, papers and other documents in settlement arising out of financial obligations, to supply more than necessary or related manufacturing without outlets provided, as well as documents from the resulting overrun costs regulated materials and workmanship.
  

(2) preventive financial control Bodies respond together with Socialist management units where they have been granted a visa for nerationale supply or for introduction in manufacture of products without outlets.
  


Article 254 Leaders of compartments, production, sales, organization of work and other compartments, each activity or sector, they must focus on increasing economic efficiency, observe discipline, financial and contractual plan and respond, in accordance with the law, the establishment of the applications and orders for materials in strict compliance with the planned production, the employment costs of production approved legal provisions concerning, the consumption, the level of stocks, and selling quality products, employment and remunerate staff as well as other provisions governing economic activity.


Article 255 of the driver's compartment the obligations of financial accounting, as well as heads of other compartments shall be entered in a contract is reached at their appointment, on the basis of the provisions of this law and other laws.


Article 256 heads of Socialist units others with leadership positions, as well as the staff responsible, each on the basis of established disciplinary powers are responsible, civil, or criminal offence, where appropriate, when they do not respect their obligations.


Chapter 11 final provisions Article 257 (1) this law shall enter into force on 1 January 1973.
  

(2) on the same date shall repeal the law. 3/1949 on the drawing up, execution and conclusion of the general budget of the Romanian people's Republic, Decree nr. 265/1949 concerning the obligation of contracts by and regulation of payments between enterprises and economic organizations, the Decree nr. 485/1954 on the approval of the Finance Ministry to approve some additional financial plans, as well as any other provisions to the contrary.
  


Article II amendments and additions arranged by this law shall apply as of the activity of the year 1979.
Are subject to the obligation to refund and amounts received in 1978 from central or from the State budget to finance investments, minus the depreciation of fixed assets and other resources funds for investments poured into the Central during this period.