The 2009 11 Law Exempting Agricultural Cooperative Bank Loans In Youth Festivals Of Demurrage

Original Language Title: القانون 11 لعام 2009 إعفاء قروض المصرف الزراعي التعاوني في الحسكة من غرامات التأخير

Read the untranslated law here: http://parliament.gov.sy/arabic/index.php?node=201&nid=4706&RID=-1&Last=10058&First=0&CurrentPage=7&Vld=-1&Mode=&Service=-1&Loc1=&Key1=&SDate=&EDate=&Year=&Country=&Num=&Dep=-1&

The 2009 11 law exempting agricultural cooperative bank loans in youth festivals of demurrage President and approved by the Assembly in its meeting dated 21-6-1430 Hijri in 14-6-2009 ad.

Issued: article (1) exempt agricultural cooperative bank loans in Hassake granted for growing winter 2008-2009 winter season and previous seasons as well as the scheduled loans under Legislative Decree No 69 of 2004 of uncollected and demurrage of benefits that exceed the interest calculated Streptococcus method simple interest without capitalization of interest period prior to the date of this law.

Article (2) scheduling balances loan capital as defined in article 1 of this act as follows: a-for ten years equal annual installments and standard due dates first installment worth 1-9-2010 date that payment shall be made prior to that date and to loans granted for growing 2006-2007 winter season and in previous winter seasons and the Fed's loans in the winter seasons 2007-2008 and 2008-2009 as previously scheduled loans by Legislative Decree No 69 of 2004.

B-for seven years equal annual installments and standard due dates first installment worth 1-9-2009 date that payment shall be made prior to that date and to loans granted for irrigated agriculture in the winter seasons 2007-2008 and 2008-2009.

Article (3) are hereby scheduled loan interest rate applied to the short-term loans the ACB from the date of issuance and interest calculated on these loans in a way that simple interest without capitalization of interest.

Article (4) continue the scheduled loan the same previous guarantees all debtors are of cold blood remain guarantors or heirs or committed to repayment of debt until full compliance.

Article (5) benefits increase for interest payable to Streptococcus loans covered by the provisions of this law, the payment of the principal and the debtor is not entitled to recover.

Article (6) scheduling provision of the Central Bank of Syria on ACB meeting resolve attribution of loans to cultivate 2008-2009 winter season in Hassake and that for ten years for loans to rainfed agriculture for seven years for loans to irrigated agriculture in accordance with article 2 of this law.

Article (7) does not apply Legislative Decree No 29 of 2009 on loans covered by the provisions of this law.

Article (8) increased the nominal capital of ACB amount for 10 billion to $15 billion for the increase of the annual net profits of the Bank and of the funds allocated by the State according to his possibilities.

Article (9) the Minister of finance to implement the provisions of this law.

Article (10) this law shall be published in the Official Gazette and shall be deemed effective as of the date of issuance.

History of 21-6-1430 Hijri in 14-6-2009 President Bashar Al-Assad