Advanced Search

Law No. 1 Of 18 April 1989 Concerning The Cancellation Of Debts Of The C.a.p. And Economic Associations Intercooperatiste

Original Language Title:  LEGE nr. 1 din 18 aprilie 1989 privind anularea unor datorii ale C.A.P. şi asociaţiilor economice intercooperatiste

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
LEGE no. 1 1 of 18 April 1989 on the cancellation of some debts of the C.A.P. and of the intercooperative economic associations
ISSUER GREAT NATIONAL ASSEMBLY
Published in OFFICIAL BULLETIN no. 14 14 of 25 April 1989



+ Article 1 The debts of C.A.P. and intercooperative economic associations are cancelled, in the amount of 117 billion lei, as follows: a) 115,1 billion lei from loans contracted until December 31, 1985; b) 1.9 billion lei representing unpaid interests, related to loans that are cancelled. + Article 2 ○The coverage of debts that are cancelled according to the provisions of this law is made from budget surpluses in previous years + Article 3 The debts from the credits received by C.A.P. and the intercooperative economic associations in 1986-1988, as well as the interest related to these credits, will be paid at the due dates. + Article 4 ○Cooperative agricultural establishments to which art is applied. 1, as well as the amount of debts from the cancelled credits and interests, are approved by decree of the State Council, on the proposal of the executive committees of the county folk councils and of the city of Bucharest; the proposals are made on the basis a thorough analysis of the economic and financial situation of each unit, carried out by the county unions of the C.A.P., the general directions for agriculture and branches of the Bank for Agriculture and Food Industry. + Article 5 The National Council of Agriculture, Food Industry, Forestry and Water Management, the Ministry of Agriculture and the National Union of C.A.P. have the obligation to pursue the elaboration and application, in each cooperative agricultural unit, of some concrete programs to improve their activity, to ensure the proper use of the land fund, of the entire technical-material and human basis available to them, strengthening the order and discipline, in order to carry out plant and animal productions planned, the development of small industries and services, growth income and reduction of material and monetary expenses, the firm application of economic and financial norms, so that in all units a cost-effective activity is carried out, to ensure the achievement in the best conditions of the objectives the new agrarian revolution