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Decree Law 158 25/11/2009 - Urgent Provisions In Matter Of Post Warranty On Paid Funding From The Central Bank Of San Marino Republic

Original Language Title: Decreto Legge 25/11/2009 N.158 - Disposizioni Urgenti In Materia Di Pubblica Garanzia Sui Finanziamenti Erogati Dalla Banca Centrale Della Repubblica Di San Marino

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SAN MARINO


DECREE - LAW November 25, 2009 158



We the Captains Regent of the Most Serene Republic of San Marino


Given the necessity and urgency referred to in Article 2, paragraph 2, point b) of the Constitutional Law
December 15, 2005 and 183 of Article 12 of the Qualified Law 12 December 2005 n
.184 namely:
- the need to form a common front with the San Marino banking system at this particular conjuncture
marked by extraordinary foreign initiatives that could temporarily
create disturbance to the liquidity of the same banking system;
- The urgent need to allow, as a precautionary measure, any timely interventions of support from the
Central Bank of the Republic of San Marino in accordance with Article 33, paragraph 1, letter d) of the Law
June 29, 2005 n.96 and subsequent amendments;
Given the decision of the Congress of State no. 1 adopted at its meeting of 23 November 2009;
Considering Article 5, paragraph 2, of the Constitutional Law no. 185/2005 and Article 9 and Article 10, paragraph 2,
of Qualified Law n.186 / 2005;
We promulgate and send for publishing the following Decree-Law:


URGENT PROVISIONS RELATING TO PUBLIC GUARANTEE ON
FUNDING PROVIDED BY THE CENTRAL BANK OF SAN MARINO

REPUBLIC

Art. 1

The State, through the Most Excellent Chamber of the Republic of San Marino, guaranteeing repayment of term loans
granted by the Central Bank of the Republic of San Marino San Marino
in favor of banks, 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 referred
above, the State, by means of ' Ecc.ma 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 guarantee referred to both cases of the preceding article, will take the form of technical
2
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 the benefit of preventive
enforcement of the principal debtor.

Art. 3

The Guaranty by the article above, out sull'Ecc.ma the San Marino Chamber,
will be signed jointly by the Secretary of State for Finance and the Government of Mayors, on
relevant resolution of the State Congress and on a reasoned request of the Central Bank of the Republic of San Marino
.

Art. 4

The request referred to in the preceding article shall, upon relevant resolution of the Governing Council
, be signed by the President of the Central Bank of the Republic of San Marino or,
in the event of absence and impediment, the Vice President and, when it relates to a loan of last
instance, lead attached a technical note prepared by the Co-ordination of supervision where
be declared to be in temporary need of the bank.

Art. 5

The guarantee will be effective as of the signing of the secured credit agreement and
will cease to extinction effects of the credit arising from the same contract.

Art. 6

The Most Excellent credit for revenge House on the right bank of San Marino is facilitated
assisted by privilege under Article 17 of the Law March 16, 1854 and subsequent amendments and additions
like other receivables privileged of the Public Treasury.

Art. 7

The last-resort lending by the Central Bank of the Republic of San Marino and
guarantees on them rinvenienti are free from any form of taxation, including
those on income, mortgage, stamp duty and register.

Art. 8

This Order shall cease to have effect 31 December 2010, except for already issued
guarantees in that date by virtue of this decree.


Given at Our Residence, this day of 25 November 2009/1709 dFR



THE CAPTAINS REGENT Francesco Mussoni - Stefano Palmieri




THE SECRETARY OF STATE FOR INTERNAL AFFAIRS Valeria Ciavatta