Law No. 46 Of 14 May 1992 On The Establishment Of Rights In Favour Of Natural Persons Who Own Shares Pursuant To Art. 36 Of The Law Nr. 18/1991

Original Language Title:  LEGE nr. 46 din 14 mai 1992 privind stabilirea unor drepturi în favoarea persoanelor fizice care deţin acţiuni în temeiul art. 36 din Legea nr. 18/1991

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LAW No. 46 of 14 May 1992 on the establishment of rights in favour of natural persons who own shares pursuant to art. 36 of the law nr. 18/1991 published in PARLIAMENT ISSUING the OFFICIAL GAZETTE NR. 100 of 21 May 1992, the Romanian Parliament adopts this law.

Article 1 joint-stock agricultural companies with majority state capital, established on the basis of law No. 15/1990, will provide individuals who own shares pursuant to art. 36 Land Fund Act No. 18/1991, besides dividends due according to law, and agricultural products or money, at the option of the shareholders which represent the equivalent in value of 300 kg per hectare of corn engineered STAS as actions with appropriate coverage of companies in the respective costs.

Article 2 for the year 1991, agricultural joint-stock companies, regardless of the share capital is owned by the State, will be given to shareholders who are individuals, dividends due according to law.
In cases where dividends are less than 7,000 lei HA pieced into shares, shareholders will be given an amount up to the competition of 7,000 lei per hectare from the profits made by the company prior to the payment of tax on the profit.
Given that companies have achieved a profit lower than the amounts to be awarded to shareholders-natural persons-whether or not they achieved profit differences will be included in the expenditure in 1992.
Realization of corporation tax will be made by the General Directorates of the public finances, on account of the corporation tax in 1992, on the basis of supporting documents submitted by the companies in question.

Article 3 within a period of 90 days after the entry into force of this law, the Government will establish, through resolution, organizational measures, in company stock, the agricultural activity of the areas held by research institutes and the resorts and production from agriculture, as well as by the autonomous administrations with farming.
To this end, institutes and research and resorts agricultural production, together with the Ministry of agriculture and food and the Academy of agricultural and forestry Sciences, will establish the necessary land areas research and experimental production, and those intended for the production of seeds and seedlings from superior categories biological and animal breed.

Article 4 individuals, whose land the property of the State, the effect of some special laws other than those of the expropriation, and is located in the heritage of the autonomous public corporations with the agricultural industry, research institutes and the resorts and agricultural production, will receive 10% of the profit per hectare of farming activity in 1991, but no less than 7,000 lei per hectare.
Provisions of art. 2 (2). 2-4 shall apply accordingly.
County commissions and Bucharest for determining ownership of land areas will be established for individuals referred to in paragraph 1. 1, in accordance with the law of the Land Fund No. 18/1991, and will issue decisions for people entitled, they shall communicate them, and autonomous public corporations, research institutes and the resorts and agricultural production, in order to grant the rights set out under the law.

Article 5 the amounts due to shareholders under the provisions of the present law, are non-taxable.