Law Decree No. 63 June 1, 12 In -Provisions Urgent Matter Of Post Warranty On Paid Funding From The Central Bank Of San Marino Republic

Original Language Title: Decreto Legge 01 Giugno 12 N. 63 -Disposizioni Urgenti In Materia Di Pubblica Garanzia Sui Finanziamenti Erogati Dalla Banca Centrale Della Repubblica Di San Marino

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Read the untranslated law here: http://www.consigliograndeegenerale.sm/on-line/home/archivio-leggi-decreti-e-regolamenti/scheda17126764.html

REPUBLIC OF SAN MARINO DECREE - LAW June 1, 2012 63 We the Captains Regent of the Most Serene Republic of San Marino Having seen the need and urgency referred to in Article 2, paragraph 2, point b) of the Constitutional Law 15 December 2005 n. 183 and Article 12 of the Qualified Law 184 of December 15, 2005 and more specifically the need: - to form a common front with the banking system of San Marino in this particular situation still marked by extraordinary emergencies that might temporarily create disturbance to the liquidity of the banking system same; - The urgent need to allow, as a precautionary measure, any timely interventions of support from partet the Central Bank of the Republic of San Marino in accordance with article 33, paragraph 1, letter d) of Act 96 of June 29, 2005 and subsequent changes; Given the decision of the Congress of State 17 adopted at its meeting on 29 May 2012; Having regard to Article 5, paragraph 2, of the Constitutional Law no. 185/2005 and Article 9 and Article 10, paragraph 2, of the Qualified Law n.186 / 2005; Promulgate and publish the following decree-law: URGENT PROVISIONS RELATING TO GUARANTEE ON PUBLIC FUNDING PROVIDED BY THE CENTRAL BANK OF THE REPUBLIC OF SAN MARINO Art. 1 The State, through the Most Excellent Chamber of the Republic of San Marino, It guarantees the repayment of loans granted by the Central Bank of the end of San Marino Republic of San Marino in favor of banks, in accordance with Article 33, paragraph 1, letter d) of the Law 29 June 2005 n. 96 and for the purposes of temporary injection of liquidity (cd. Loans of last resort). In order to facilitate the access of the Central Bank of the Republic of San Marino to the international capital market, which aims to provide funding for re-investment in the manner described above, the State, through the Most Excellent Chamber of the Republic of San Marino also it guarantees the repayment of loans of the Central Bank of the Republic of San Marino with financial intermediaries including foreign and international financial institutions also. In the relevant the parties will establish the relevant jurisdiction contracts. Art. 2 The security provided for in both cases the previous article, will have technical form of surety, limited to certain contract, the amount equal to the amount due for principal, interest and costs, and, solely for the loans of last resort, with benefit of prior enforcement of the principal debtor. 2 Art. 3 The Guaranty by the article above, out sull'Ecc.ma Chamber of San Marino, will be signed jointly by the Secretary of State for Finance and the Government of Mayors, on relevant resolution of the Congress of State and of reasoned request of the Central Bank of the Republic of San Marino. Art. 4 The application of the preceding article shall, upon relevant resolution of the Board of Directors, to be signed by the Chairman of the Central Bank of the Republic of San Marino or, in case of absence and impediment, the Vice President and, when on a lender of last resort, bring attached a technical note prepared by the Co-ordination of supervision it is established the status of temporary need of the bank. Art. 5 The guarantee will be effective as of the signing of the secured credit agreement and shall cease to have effect to the extinction of the credit arising from the same contract. Art. 6 The Most Excellent credit for revenge entitled House on San Marino bank facilitated is assisted by privilege under Article 17 of the Law March 16, 1854 and subsequent amendments and additions like other privileged debts of the Public Treasury. Art. 7 of last resort lending by the Central Bank of the Republic of San Marino and the guarantees on them rinvenienti are free from any form of taxation, including income tax, mortgage, stamp duty and registration fees. Art. 8 This Decree shall cease to have effect 31 December 2012, subject to the surety guarantees already issued to that date pursuant to this Decree. Given at Our Residence, this day of June 1 2012/1711 THE CAPTAINS REGENT Maurizio Rattini - Italo Righi THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta