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Law No. 97 Of 10 June 1997

Original Language Title:  LEGE nr. 97 din 10 iunie 1997

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LEGE no. 97 97 of 10 June 1997 for approval Government Ordinance no. 30/1996 on the regulation of the state's holdings in the International Monetary Fund and how to regularise financial influences resulting from transactions with the International Monetary Fund
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 118 118 of 10 June 1997



The Romanian Parliament adopts this law + Article UNIC Approval Government Ordinance no. 30 30 of 7 August 1996 on the regulation of the state's holdings in the International Monetary Fund and how to regularise financial influences resulting from transactions with the International Monetary Fund, adopted pursuant to art. 1 lit. a) of Law no. 65/1996 for the empowerment of the Government to issue ordinances and published in the Official Gazette of Romania, Part I, no. 186 of 12 August 1996, with the following amendments and additions: 1. Article 1 (2) shall read as follows: " The remaining irregular difference on June 30, 1996, in the amount of 4.780.2 billion lei, is highlighted in the accounting of the National Bank of Romania, in a distinct account, non-interest-bearing bearer. This amount is staggered, starting with 1997, for a period of 15 years, dividing each year, proportionally, in the expenses of the National Bank of Romania. " 2. Article 2 shall read as follows: " Since July 1996, all the rights and obligations of the Romanian state, as a result of transactions with the International Monetary Fund, are reflected in the management of the National Bank of Romania, according to the methodological norms endorsed by the Ministry Finance. " 3. Article 3 shall read as follows: "" Art. 3. -Adverse differences resulting from the revaluation of assets and liabilities in foreign currency, reflected in the accounts of the National Bank of Romania on June 30, 1996, set out in Annex no. 3, will continue to be highlighted in the accounting of the National Bank of Romania, in a distinct, non-interest-bearing account, and will be distributed in the expenses of the National Bank of Romania, starting with 1997, proportionally, for a period years. " 4. Article 4 shall read as follows: "" Art. 4. -The unfavorable differences that will result, starting with July 1996, from the revaluation of assets and liabilities in foreign currency and precious metals, registered by the National Bank of Romania, based on the provisions of art. 38 38 of Law no. 34/1991 on the Statute of the National Bank of Romania, will be recorded at expenses, within the limits of the favorable differences highlighted on income resulting from the revaluation of the assets and liabilities mentioned above. The remaining difference shall be retained for the following year. " 5. Article 5 shall read as follows: "" Art. 5. -Public expenditures in the amount of 337.9 billion lei, financed in 1991-1993 from the favorable differences resulting from the revaluation of precious metal stocks, remain final. " 6. Article 6 shall be repealed. 7. Article 7 shall become Article 6. 8. Annex no. 2 2 will have the following contents: " ANNEX No. 2 CLAIMS OF THE STATE on the National Bank of Romania on June 30, 1996, used to cover the differences in operations with the International Monetary Fund No. The amount-thousands of lei-1.Available at the Ministry of Finance from the reassessment of the precious metal in 19922.000.000 2.Decontations with the state budget from operations with abroad 320.930.109 TOTAL: 322.930.109 " 9. Annex no. 3 3 will have the following contents: " ANNEX No. 3 ADVERSE DIFFERENCES from the revaluation of assets and liabilities in foreign currency No. Explanations Amount-thousands of lei-1.Unfavorable rate differences from the revaluation of assets and liabilities in foreign currency, in 1994312.542.409 2.Unfavorable rate differences from the revaluation of assets and liabilities in foreign currency, in 1995149.630.113 3.Unfavorable rate differences from the revaluation of assets and liabilities in foreign currency, on June 30, 1996248.938.193 TOTAL: 711.110.715 " This law was adopted by the Chamber of Deputies and the Senate in the joint meeting of 26 May 1997, in compliance with the provisions of art. 74 74 para. ((2) and art. 76 76 para. (2) of the Romanian Constitution. p. PRESIDENT OF THE HOUSE DEPUTATILORP. PRESIDENT OF THE SENATE ANDREI IOAN CHILIMANMIRCEA IONESCU-QUINTUS Bucharest, June 10, 1997. No. 97. -----------