Law No. 1 of 18 April 1989 concerning the cancellation of debts of the C.A.P. and economic associations ISSUING NATIONAL ASSEMBLY intercooperatiste Published in the Official Gazette nr. 14 of 25 April 1989 article 1 shall cancel the debts of economic associations and C.A.P. intercooperatiste, amounting to 117 billion lei, as follows: a) 115.1 billion coming from loans contracted up to 31 December 1985;
b 1.9 billion lei) representing unpaid interest relating to credits that are cancelled.
Article 2 debt Coverage what ○ cancelled under the provisions of the present law shall make budgetary surpluses from previous years.
Article 3 Debts arising from loans received by C.A.P. and intercooperatiste economic associations in the years 1986-1988, and the interest for these credits will be paid on the due dates.
Article 4 ○ agricultural cooperative Establishments covered by article 1. 1, and the amount of the debts arising from loans and interest have been cancelled, approved by Decree of the State Council, at the proposal of the executive committees of councils and popular of Bucharest; proposals are made on the basis of a thorough analysis of the economic and financial situation of each unit by County unions of the C.A.P., General Directorates for agriculture and Bank branches for Agriculture and food industry.
Article 5 the National Board of Agriculture, the food industry, forestry and water management, Ministry of agriculture and the National Union of the C.A.P. must pursue its development and implementation, in every agricultural co-operative unit, concrete programmes to improve their work, to ensure the proper use of the Land Fund, of all material and technical bases of human resources, strengthening of order and discipline in order to achieve the planned plant and animal products, the development of small industries and the provision of services, increasing revenue and reducing expenditure of money, materials and the application of rules to the economic and financial, so in all units to conduct a profitable activity, to ensure the realization of the objectives of the new agrarian revolution