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Law No. 33 Of 20 January 1998

Original Language Title:  LEGE nr. 33 din 20 ianuarie 1998

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LEGE no. 33 33 of 20 January 1998 for approval Government Emergency Ordinance no. 16/1997 on the regularization of losses registered by the National Agency for Agricultural Products-R.A. from the activity of 1994-1996
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 29 29 of 27 January 1998



The Romanian Parliament adopts this law + Article UNIC Approval Government Emergency Ordinance no. 16 16 of 5 May 1997 on the regularization of losses registered by the National Agency of Agricultural Products-R.A. from the activity of 1994-1996, published in the Official Gazette of Romania, Part I, no. 91 of 15 May 1997, with the following amendments: 1. Article 1 shall read as follows: "" Art. 1. -Losses recorded by the National Agency of Agricultural Products-R.A., from the activity of 1994, 1995 and 1996, according to the balance sheet concluded on December 31, 1996, audited under the conditions provided in art. 2 of this emergency ordinance, will be regularized, in 1997, within the amount of 172 billion lei, as follows: -minimum 34 billion lei from the reserve fund of the National Agency for Agricultural Products-R.A., resulting, in particular, from the reassessment of wheat stocks existing on July 3, 1996, within 10 days from the publication in the Official Gazette of Romania law for the approval of the emergency ordinance; -maximum 138 billion lei, by taking over the internal public debt of the state. " 2. Article 3 shall read as follows: "" Art. 3. -Takeover of domestic public debt within the amount provided in art. 1 will be carried out by the Ministry of Finance by contracting state loans from commercial banks that have credited the activity of the National Agricultural Products Agency-R.A., in the amount set out in the annex that is an integral part of this emergency ordinance. The loan will contract for a period of 5 years, will be guaranteed with government securities and will be reimbursed at maturity. The government securities will be negotiable and interest-bearing, the rate of which will be at the interest rate level of the last issue of government securities with maturity at 91 days, launched by the Ministry of Finance prior to the period for which it is calculated and interest is paid. The interest is calculated and paid quarterly from the amounts provided with this destination in the state budget. Operations regarding the contracting and development of the loan will be carried out through the National Bank of Romania, acting as agent of the state. " 3. Article 4 shall be repealed. This law was adopted by the Chamber of Deputies at the meeting of December 23, 1997, in compliance with the provisions of 74 74 para. (2) of the Romanian Constitution. p. CHAMBER OF DEPUTIES PRESIDENT VASILE LUPU This law was adopted by the Senate at the meeting of December 23, 1997, in compliance with the provisions of art 74 74 para. (2) of the Romanian Constitution. p. SENATE PRESIDENT CRISTIAN DUMITRESCU + Annex 1 SITUATION amounts to be taken on domestic debt, as Government Emergency Ordinance no. 16/1997 -1.Banca Agricola-S.A. 128.769.451 2.Romanian Development Bank-S.A. 6.277.585 TOTAL:135.047.036 --------------