Law No. 33 of 20 January 1998 on approval of the Emergency Ordinance of Government No. 16/1997 concerning settlement losses National Agency of agricultural products-r.a. from 1994-1996 PARLIAMENT ISSUING published in MONITORUL OFICIAL nr. 29 of 27 January 1998, the Romanian Parliament adopts this law.
The sole article approving Government Emergency Ordinance nr. 16 of 5 May 1997 concerning the settlement losses of National Agency of agricultural products-r.a. from 1994-1996, published in the Official Gazette of Romania, part I, no. 91 of 15 May 1997, with the following modifications: 1. Article 1 shall read as follows: Art. 1.-National Agency registered losses of agricultural products-r.a., from the years 1994, 1995 and 1996, according to the balance sheet of 31 December 1996, audited in accordance with art. 2 of this emergency Ordinance will be regularized in 1997, within the limit of the amount of 172 billion dollars, as follows:-at least 34 billion lei from the Reserve Fund of the National Agency for agricultural products-r.a., resulting in particular from the reassessment of existing stocks of wheat on 3 July 1996, within 10 days of its publication in the Official Gazette of the law approving the Emergency Ordinance;
-a maximum of 138 billion lei, by taking the internal public debt of the State. "
2. Article 3 shall read as follows: Art. 3.-the internal public debt Takeover within the limit of the amount provided for in article 10. 1 will be done by the Ministry of finance by Contracting loans from State commercial banks who have credited the work of the National Agency for agricultural products-r.a., the amount referred to in the annex which forms an integral part of this emergency Ordinance. The loan contract will be for a period of 5 years, will be guaranteed with bonds and will repay at maturity. State titles will be tradable and interest bearing, whose rate will be at the level of the interest rate of the last State-owned securities with a maturity of 91 days, launched by the Ministry of finance earlier period for which interest is calculated and paid. Interest shall be calculated and paid quarterly amounts provided for this destination in the State budget and carrying out Operations relating to contraction of the loan shall be carried out by National Bank of Romania, which acts as the agent of the State. "
3. Article 4 shall be repealed.
This law was adopted by the Chamber of deputies at its meeting of 23 December 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. VASILE LUPU, PRESIDENT of the CHAMBER of DEPUTIES, this law was adopted by the Senate at its meeting of 23 December 1997, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. SENATE CRISTIAN DUMITRESCU Annex 1 SITUATION amounts to get the internal debt, according to the Government's Emergency Ordinance No. 16/1997-MDL-commercial bank creditor the amount taken from the internal public debt 1.
Agricultural Bank-S.A. 128,769,451 2.
Romanian Development Bank-S.A. 6,277,585 TOTAL: 135,047,036 — — — — — — — — — — — — — —