of July 22, 2016 No. 184
About agreements on financial provision
The Parliament adopts this organic law.
This law regulates the legal regime applicable to agreements on financial provision and financial provisions, provision and execution of financial provisions, right to use of financial provisions, recognition of contracts on financial provision with cession of property and regulations on liquidating netting, inapplicability of certain provisions in the field of insolvency and the right applicable to the questions connected with financial provisions.
(1) This law is applied to agreements on financial provision provided that they meet in total the following requirements:
a) are concluded between persons specified in Article 3;
b) can be confirmed with record, registration electronically or on any other strong carrier.
(2) This law is applied to the financial provisions meeting in total the following requirements:
a) subject of financial provisions are money, financial instruments or monetary claims;
b) provision of financial provisions can be confirmed with record.
(This law does not regulate 3):
a) the rights which this or that person can have concerning the assets provided to them as financial provision;
b) the rights which arise differently, than based on agreements on financial provision and differently, than on the basis of application of legislative provisions about excitement or continuation of liquidation procedure or measures for restructuring.
(4) Operation of this law does not extend to financial provisions which subject are the shares issued by the supplier of providing, the shares belonging to it in the affiliated companies or in societies, which exclusive purpose – to become the owner of the means of production which are essential to implementation of activities of the supplier of providing or to become the owner of real estate.
(5) Ceased to be valid.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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