Law No. 48 Of 7 July 1994

Original Language Title:  LEGE nr. 48 din 7 iulie 1994

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LAW No. 48 of 7 July 1994 on the establishment of rights in favour of individuals whom he settled the status of shareholder pursuant to art. 36 of the law nr. 18/1991 and rights for 1993 and 1994 for people whose land lies in autonomous public corporations with agricultural activity, research institutes and the resorts and agricultural production published in PARLIAMENT ISSUING the OFFICIAL GAZETTE NR. 175 of 11 July 1994 the Parliament of Romania decides: Article 1 (1) joint stock agricultural companies with majority state capital, established on the basis of law No. 15/1990, will provide individuals to whom it is established that the status of shareholder, pursuant to art. 36 Land Fund Act No. 18/1991, in addition to the dividends due according to law and agricultural products or money at their option written.
  

(2) the rights in developing agricultural products referred to in the preceding paragraph, the value will be the equivalent of at least 600 kg of wheat per hectare, STAS with the reflection of the costs of the respective company.
  

(3) agricultural firms which do not cultivate wheat, will offer shareholders in agricultural products or money, was the equivalent in value to at least 600 kg of wheat per hectare STAS.
  


Article 2 Rights in developing agricultural products or cash, laid down under art. 1, shall be granted with effect from the 1994 production.


Article 3 (1) natural persons whose land lies in autonomous public corporations with the agricultural industry, research institutes and the resorts and agricultural production, the effect of some special laws other than those of the expropriation will receive for the year 1993 the quantity of 300 kg of wheat per hectare or STAS other agricultural products, equivalent or equivalent value thereof, at the option of the natural persons holding entitlement.
  

(2) since 1994, the persons referred to in paragraph 1. (1) will receive the amount of at least 600 kg of wheat per hectare or STAS other agricultural products into their equivalent or equivalent value, at the option of the natural persons holding entitlement.
  

(3) where the denomination of the units at para. (1) may not honor in full the quantities referred to in paragraph 1. (1) and (2) shall pay the equivalent value of the quantitative difference under the present law.
  


The rights referred to in article 4 of this law shall be calculated from the guaranteed minimum price of grey, in force on the date of payment.


Article 5 persons who have not received their entitlements established in accordance with the provisions of law No. 46/1992 and law No. 29/1993, and those who benefit from the provisions of this law are entitled to claim them in the general term of limitation prescribed by law. Applications are exempt from stamp duty.


Article 6 the amounts due to individuals, according to law, are not taxable.


Article 7 entry into force of the present law shall repeal art. 1 and art. 5 of law No. 46/1992 on the establishment of rights in favour of natural persons who own shares pursuant to art. 36 of the law nr. 18/1991.
This law was adopted by the Chamber of deputies at its meeting on June 29, 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
PRESIDENT of the CHAMBER of DEPUTIES ADRIAN NASTASE this law was adopted by the Senate at its meeting on June 29, 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
SENATE PRESIDENT Prof. Dr. O'LEARY GHERMAN — — — — — — — — — — — — — — — — — — — — — — — — — — — —