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Law No. 987 On March 31, 1931

Original Language Title:  LEGE nr. 987 din 31 martie 1931

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LEGE no. 987 987 of 31 March 1931 on the ratification of the arrangement between the Romanian Government aside and the Belgian Government of the other, relative to the titles of Romanian renta stamped square held by the Belgian detentors
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 76 76 of 1 April 1931



CAROL II Through the grace of God and the national will, King of Romania, To all present and to the future, health: The legislative assemblies voted and adopted, and We sanction what follows: + Article UNIC The arrangement between the Romanian Government aside and the Belgian Government on the other, relative to the square-stamped Romanian renta titles held by the Belgian owners, an arrangement found by the adjoining note, in copy and translation, is ratified. the present draft law. This law, together with the arrangement found by the Note, in copy and translation, to the next dance, was voted by the Assembly of Deputies at the meeting of March 30, 1931 and was adopted by a majority of one hundred and eighteen votes, against two. President, ST. CICIO POP ((L. A. S. D.) Secretary, Nicolae S. Rusanescu This law, together with the arrangement found by the Note, in copy and translation, to the next dance, was voted by the Senate at the meeting of March 30, 1931 and was adopted unanimously by seventy-eight votes. President, PROFESSOR TRAIAN BRATU ((L. S. S.) Secretary, V. Gheorghiu We promulgate this law and order that it be invested with the seal of the State and published in the Official Gazette ((L. S. St.) CAROL President of the Council of Ministers and Minister of Foreign Gh. G. Mironescu Minister of Finance, Mihai Popovici Justice Minister Dr. Voicu Nitescu NOTES Romanian Ministry of Finance, addressed to Mr. Baron Guillaume, Minister of Belgium in Bucharest, on January 30, 1931 Minister, As a result of the negotiations that took place at the Ministry of Foreign Affairs in Brussels, I have the honor to communicate to Your Excellency that the Romanian Government agrees with the following arrangement: 1. The Romanian Government is committed to providing Belgian holders of titles of Romanian loans, stamped square, a capital increase that will amount to 40 percent of the nominal value. 2. They shall benefit from this arrangement all titles stamped square and accompanied by the stamp of stamping and which shall be submitted no later than one month after the entry into force of this Agreement. 3. The Romanian government will examine with good will all cases in which the stamping bordero will not have been able to be presented, as well as the deposits made with delay. 4. The exchange of square stamped titles as well as the service of the securities provided in this arrangement will be carried out by Belgian banks, which will be designated by the Romanian Government for this purpose. 5. The Romanian Government accepts to carry out in the following conditions the service of interest and amortisation of the square stamped securities of the Romanian loans, below specified: Internal borrowing ............ 1889 4% External borrowing ............ 1889 4% External borrowing ............ 1890 4% External borrowing ............ 1891 4% External borrowing ............ 1894 4% External borrowing ............ 1896 4% External borrowing ............ 1898 4% External borrowing ............ 1903 4% External loan conv ....... 1905 4% External loan conv ....... 1905 4% External loan conv ....... 1908 4% External loan conv ....... 1910 4% External loan conv ....... 1913 4% In exchange for securities currently in circulation and for the 40% capital supplement, awarded to the holders, new bonds will be issued, bearing interest in the below specified conditions: Renta romana 1913: The interest service and amortisation of the Roman annuity 4.5% 1913 will be carried out from 1 Octomvrie 1928, semi-annual on 1 April and 1 Octomvrie of each year, so that the first coupon payable, is that of 1 January 1929, the Service will be carried out after as set out below: from 1 Oct. 1928 to 30 Sept. 1929 incl. with 35% of the wave. nominal gold from 1 Oct. 1929 to 30 Sept. 1930 incl. with 35% of the wave. nominal gold from 1 Oct. 1930 to 30 Sept. 1931 incl. with 35% of the wave. nominal gold from 1 Oct. 1931 to 30 Sept. 1932 incl. with 36% of the wave. nominal gold from 1 Oct. 1932 to 30 Sept. 1933 incl. with 36% of the wave. nominal gold from 1 Oct. 1933 to 30 Sept. 1934 incl. with 36% of the wave. nominal gold from 1 Oct. 1934 to 30 Sept. 1935 incl. with 37% of the wave. nominal gold from 1 Oct. 1935 to 30 Sept. 1936 incl. with 37% of the wave. nominal gold from 1 Oct. 1936 to 30 Sept. 1937 incl. with 37% of the wave. nominal gold from 1 Oct. 1937 to 30 Sept. 1938 incl. with 38% of the wave. nominal gold from 1 Oct. 1938 to 30 Sept. 1939 incl. with 38% of the wave. nominal gold from 1 Oct. 1939 to 30 Sept. 1940 incl. with 38% of the wave. nominal gold from 1 Oct. 1940 to 30 Sept. 1941 incl. with 39% of the wave. nominal gold from 1 Oct. 1941 to 30 Sept. 1942 incl. with 39% of the wave. nominal gold from 1 Oct. 1942 to 30 Sept. 1943 incl. with 40% of the wave. nominal gold from 1 Oct. 1943 to 30 Sept. 1944 incl. with 40% of the wave. nominal gold from 1 Oct. 1944 to 30 Sept. 1945 incl. with 41% of the wave. nominal gold from 1 Oct. 1945 to 30 Sept. 1946 incl. with 41% of the wave. nominal gold from 1 Oct. 1946 to 30 Sept. 1947 incl. with 42% of the wave. nominal gold from 1 Oct. 1947 to 30 Sept. 1948 incl. with 43% of the wave. nominal gold from 1 Oct. 1948 to 30 Sept. 1949 incl. with 44% of the wave. nominal gold from 1 Oct. 1949 to 30 Sept. 1950 incl. with 45% of the wave. nominal gold from 1 Oct. 1950 to 30 Sept. 1951 incl. with 46% of the wave. nominal gold from 1 Oct. 1951 to 30 Sept. 1952 incl. with 48% of the wave. nominal gold from 1 Oct. 1952 to 30 Sept. 1953 incl. with 50% of the wave. nominal gold from 1 Oct. 1953 to 30 Sept. 1954 incl. with 50% of the wave. nominal gold from 1 Oct. 1954 to 30 Sept. 1955 incl. with 54% of the wave. nominal gold from 1 Oct. 1955 to 30 Sept. 1956 incl. with 56% of the wave. nominal gold from 1 Oct. 1956 to 30 Sept. 1957 incl. with 58% of the wave. nominal gold from 1 Oct. 1957 to 30 Sept. 1958 incl. with 61% of the wave. nominal gold from 1 Oct. 1958 to 30 Sept. 1959 incl. with 64% of the wave. nominal gold from 1 Oct. 1959 to 30 Sept. 1960 incl. with 67% of the wave. nominal gold from 1 Oct. 1960 to 30 Sept. 1961 incl. with 70% of the wave. nominal gold from 1 Oct. 1961 to 30 Sept. 1962 incl. with 74% of the wave. nominal gold from 1 Oct. 1962 to 30 Sept. 1963 incl. with 78% of the wave. nominal gold from 1 Oct. 1963 to 30 Sept. 1964 incl. with 82% of the wave. nominal gold from 1 Oct. 1964 to 30 Sept. 1965 incl. with 86% of the wave. nominal gold from 1 Oct. 1965 to 30 Sept. 1966 incl. with 90% of the wave. nominal gold from 1 Oct. 1966 to 30 Sept. 1967 incl. with 94% of the wave. nominal gold from 1 Oct. 1967 to 30 Sept. 1968 incl. with 98% of the wave. nominal gold from 1 Oct. 1968 to 30 Sept. 1969 incl. with 100% of the wave. nominal gold from 1 Oct. 1969 to 30 Sept. 1970 incl. with 100% of the wave. nominal gold All other rente The interest and amortisation service at all other Roman rente will be made from 1 Oct. 1928, once a year, on April 1 of each year. The first annual current coupon will therefore be payable on April 1, 1929. The interest and amortisation service will be carried out in the following conditions: On April 1, 1929 with 20% of the nominal value gold. On 1 April 1930 with 20% of the nominal value gold. On 1 April 1931 with 20% of the nominal value gold. On 1 April 1932 with 20% of the nominal value gold. On April 1, 1933 with 20% of the nominal value gold. On April 1, 1934 with 21% of the nominal value gold. On April 1, 1935 with 21% of the nominal value gold. On April 1, 1936 with 21% of the nominal value gold. On April 1, 1937 with 21% of the nominal value gold. On April 1, 1938 with 21% of the nominal value gold. On 1 April 1939 with 22% of the nominal value gold. On 1 April 1940 with 22% of the nominal value gold. On 1 April 1941 with 22% of the nominal value gold. On April 1, 1942 with 22% of the nominal value gold. On April 1, 1943 with 22% of the nominal value gold. On April 1, 1944 with 23% of the nominal value gold. On 1 April 1945 with 23% of the nominal value gold. On April 1, 1946 with 23% of the nominal value gold. On April 1, 1947 with 24% of the nominal value gold. On April 1, 1948 with 24% of the nominal value gold. On April 1, 1949 with 24% of the nominal value gold. On 1 April 1950 with 25% of the nominal value gold. On April 1, 1951 with 25% of the nominal value gold. On April 1, 1952 with 25% of the nominal value gold. On April 1, 1953 with 26% of the nominal value gold. On April 1, 1954 with 26% of the nominal value gold. On April 1, 1955 with 26% of the nominal value gold. On 1 April 1956 with 28% of the nominal value gold. On April 1, 1957 with 28% of the nominal value gold. On 1 April 1958 with 28% of the nominal value gold. On 1 April 1959 with 30% of the nominal value gold. On 1 April 1960 with 30% of the nominal value gold. On April 1, 1961 with 32% of the nominal value gold. On 1 April 1962 with 34% of the nominal value gold. On April 1, 1963 with 36% of the nominal value gold. On April 1, 1964 with 38% of the nominal value gold. On April 1, 1965 with 40% of the nominal value gold. On 1 April 1966 with 42% of the nominal value gold. On April 1, 1967 with 44% of the nominal value gold. On April 1, 1968 with 46% of the nominal value gold. On 1 April 1969 with 48% of the nominal value gold. On 1 April 1970 with 50% of the nominal value gold. All loans forming the object of this offer will have to be amortized at the latest by April 1, 1970, according to the amortisation picture, reproduced on the new title. The titles out of the draw will be refunded at the first maturity of the coupon following the draw. With effect from this maturity the titles will cease to wear interest. The value of the missing coupons on the date on which the title will actually be repaid will be deducted from the amount to be reimbursed. The repayment of the securities will be made in gold, on the course fixed on the day of the due date. The amounts due for the payment of coupons and securities will be made available to the Belgian banks, by the Romanian Government, in gold, at the latest 15 days before maturity. As this arrangement does not stipulate amendments, the original contracts relating to the relative loan contracts and the issue conventions remain in force. 6. The Romanian government undertakes to issue, at its expense, titles instead of the damaged ones. 7. The Romanian Government undertakes not to make, in the future any holder of securities of the loans concerned in this arrangement, superior advantages compared to the pre-established arrangement regardless of nationality. 8. At present, the arrangement cannot be claimed as a benefit to these provisions. We assure you, Minister of all our consideration. MIHAI POPOVICI This Note, in copy and translation, ascertaining the arrangement, together with the law, was voted by the Assembly of Deputies at the meeting on March 30, 1931 and was adopted by a majority of one soup eighteen votes, against two. President, ST. CICIO POP ((L. S. A. D.) Secretary, Nicolae S. Rusanescu This Note, in copy and translation, ascertaining the arrangement, together with the law, was voted by the Senate, at its meeting on March 30, 1931 and was adopted unanimously by seventy-eight votes. President, PROFESSOR TRAIAN BRATU ((L. S. S.) Secretary, V. Gheorghiu. -------------