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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

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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LEGE No. 46 of 14 May 1992 on the establishment of rights in favour of natural persons holding shares pursuant to art. 36 36 of Law no. 18/1991
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 100 of 21 May 1992



The Romanian Parliament adopts this law + Article 1 Agricultural companies on shares, with majority state capital, established under Law no. 15/1990, will provide individuals who hold shares pursuant to art. 36 of the Land Fund Law no. 18/1991, besides the dividends due according to the law, and agricultural products or money, at the option of the shareholders, representing the value equivalent of 300 kg griu STAS per hectare reconstituted as shares, with the corresponding reflection in the expenses the respective companies. + Article 2 For 1991, agricultural companies on shares, regardless of the share of capital held by the state, will grant to shareholders, individuals, dividends due according to the law. In situations where dividends are less than 7,000 lei the hectare reconstituted in shares, it will be granted to shareholders an amount up to the competition of 7,000 lei per hectare of the profit made by the commercial company before the payment of the corporate tax. Given that companies have made a profit below the amounts to be granted to shareholders-individuals-or have not earned profit, the differences will be included in the expenses of 1992. The realization of the corporate tax will be made by the general directorates of public finances, on account of the corporate tax in 1992, on the basis of the supporting documents presented by the agricultural companies concerned. + Article 3 Within 90 days of the entry into force of this law, the Government will establish, by decision, measures of organization, in commercial companies on shares, of agricultural production activity in the areas owned by the institutes and resorts of research and production from agriculture, as well as by autonomous regions with agricultural activity. For this purpose, the agricultural research and production institutes and resorts, together with the Ministry of Agriculture and Food and the Academy of Agricultural and Forestry Sciences, will establish the land areas necessary for experimental research and production, as well as those intended for the production of seeds and propagating material of upper biological categories and of breed animals. + Article 4 Individuals, whose lands have passed into state property, as an effect of special laws, other than expropriation, and are in the patrimony of autonomous regions with agricultural activity, institutes and research resorts and agricultural production, will receive 10% of the profit obtained per hectare of agricultural activity for 1991, but not less than 7,000 lei per hectare. Art. 2 2 para. 2 2-4 shall apply accordingly. The county commissions and the city of Bucharest for the establishment of the property right will establish the land areas for the individuals provided in par. 1, under the conditions of the Land Fund Law no. 18/1991, and will issue decisions for entitled persons, whom they will communicate to them, as well as autonomous regions, institutes and agricultural research and production resorts, in order to grant the rights established according to the provisions Law. + Article 5 The amounts due to shareholders, according to the provisions of this law, are untaxable. -------------------------