Law 11 In 2014 Acb Loans Granted Exemption For Agricultural Purposes Of Nodal And Benefits Benefits And Delay Fines

Original Language Title: القانون 11 لعام 2014 إعفاء قروض المصرف الزراعي التعاوني الممنوحة لغايات زراعية من الفوائد العقدية وفوائد وغرامات التأخير

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Read the untranslated law here:

Law 11 in 2014 ACB loans granted exemption for agricultural purposes of nodal and benefits benefits of demurrage President based on the provisions of the Constitution, approved by Parliament at its meeting dated 11-8-1435 Hijri, 9-6-2014 ad.

Issued: article 1

Exempt loans ACB granted to agricultural purposes of benefits benefits of Streptococcus and consequent demurrage earmarked to date of this law.

Article 2

Interest is Streptococcus and demurrage benefits paid before the date this law of income ACB and shall not claim them.

Article 3

Schedule a loan capital stocks covered by the provisions of this law, excluding all interest benefits and demurrage Streptococcus implications the date this law for ten years equal annual installments and standard due dates first installment worth in 2-8-2015 history.

Article 4

Prof requires to take advantage of the provisions of this law that the borrower pay a goodwill by 5 percent of taxable debt block scheduling period not to exceed six months from the date of entry into force of this law.

B notwithstanding the provisions of paragraph a of this article the ACB when buying cereal for 2014 truncates a batch of good faith referred to in the preceding paragraph, the value to be paid to peasants and farmers debtors to ACB with purchase date this season unless they've committed themselves to pay the instalment before being sold this season to the ACB.

Article 5

Debtor loses its right to take advantage of the exemption and the schedule provided for in articles 1-3 of the law in the event of non-compliance with payment of good faith referred to above or any defaults scheduled installments beyond the next installment loan balances and covered by the provisions of this law to the original accounts as demanded by the debtor for payment of the full benefits Streptococcus and demurrage benefits due and owing to the scheduling date and excludes cases Cairo which depends by the Board of Directors of agricultural Bank Op.

Article 6

ACB allowed financing of peasants and farmers for the growing season of 2014-2015 regardless of the solvency of debtors and guarantors except debtors nonconformist scheduling provisions in accordance with the rules specified in this law.

Article 7

This law does not include agricultural cooperative bank loans granted under the regulations except that combatting unemployment loans granted by the Bank and which are covered by the provisions of this law.

Article 8

Under the scheduled loans under this Act for the applicable interest rates on short term loans applicable to the ACB in date.

Article 9

Last scheduled loans previous safeguards itself and keeps all debtors are of cold blood and guarantors and their heirs to pay the debt until full compliance.

Article 10

The Central Bank of Syria is committed to schedule all debt balances on ACB for ten years equal annual installments due dates first installment worth uniform in the history of 2-8-2015 and subject of these stocks to interest rates applied to short term loans the Central Bank of Syria in force on the date of its promulgation.

Article 11

The Minister of Finance issued operational instructions for the provisions of this law.

Article 12

Provisions contained in laws and legislative decrees issued earlier for loan rescheduling by the ACB and associated penalties and interest exemptions modified under the provisions of this law.

Article 13

This law shall be published in the Official Gazette and shall be deemed effective as of the date of issuance.

Damascus 12-8-1435 Hijri, 10-6-2014 ad. 

President Bashar Al-Assad