{"id":"bgbl2-1953-14-4","kind":"bgbl2","year":1953,"number":14,"date":"1953-08-20T00:00:00Z","url":"https://offenegesetze.de/veroeffentlichung/bgbl2/1953/14#page=10","api_url":"https://api.offenegesetze.de/v1/veroeffentlichung/bgbl2-1953-14-4/","document_url":"https://media.offenegesetze.de/bgbl2/1953/bgbl2_1953_14.pdf#page=10","order":4,"title":"Gesetz über das Abkommen vom 1. April 1953 zwischen der Bundesrepublik Deutschland und den Vereinigten Staaten von Amerika über gewisse Angelegenheiten, die sich aus der Bereinigung deutscher Dollarbonds ergeben","law_date":"1953-08-19T00:00:00Z","page":300,"pdf_page":10,"num_pages":31,"content":["300                              Bundesgesetzblatt, Jahrgang 1953, Teil II\nGesetz über das Abkommen vom 1. April 1953 zwischen der\nBundesrepublik Deutschland und den Vereinigten Staaten von Amerika\nüber gewisse Angelegenheiten, die sich aus der Bereinigung\ndeutscher Dollarbonds ergeben.\nVom 19. August 1953.\nDer Bundestag hat das folgende Gesetz beschlossen:   gungsgesetz für deutsche Auslandsbonds (Ver-\neinigte Staaten von Amerika) vom 7. März 1953\nArtikel 1                          (Bundesanzeiger Nr. 50 vom 13. März 1953) werden\nDem in Bonn am 1. April 1953 unterzeichneten Ab-     nachstehend mit Gesetzeskraft veröffentlicht.\nkommen zwischen der Bundesrepublik Deutschland           (2) Der Tag, an dem das Abkommen nach seinem\nund den Vereinigten Staaten von Amerika über ge-       Artikel V in Kraft tritt, ist im Bundesgesetzblatt be-\nwisse Angelegenheiten, die sich aus der Bereinigung    kanntzugeben.\ndeutscher Dollarbonds ergeben, wird zugestimmt.                             Artikel 3\nArtikel 2                            Dieses Gesetz gilt auch im Lande Berlin, wenn das\nLand Berlin seine Anwendung durch Gesetz festge-\n(1) Das Abkommen sowie die in Artikel IV des Ab-\nstellt hat.\nkommens genannten englischen Texte des Bereini-\ngungsgesetzes für deutsche Auslandsbonds vom                                Artikel 4\n25. August 1952 (Bundesgesetzbl. I S. 553) und der       Dieses Gesetz tritt am Tage nach seiner Verkün-\nZweiten Durchführungsverordnung zum Bereini-           dung in Kraft.\nDie verfassungsmäßigen Rechte des Bundesrates\nsind gewahrt.\nDas vorstehende Gesetz wird hiermit verkündet.\nBom1, den 19. August 1953.\nDer Bundespräsident\nTheodor Heuss\nDer Bundeskanzler\nund Bundesminister des Auswärtigen\nAdenauer\nDer Bundesminister der Finanzen\nSchäff er\nDer Bundesminister der Justiz\nDehler\nDer Bundesminister für Wirtschaft\nLudwig Erhard","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                                 301\nAbkommen zwischen                                          Agreement between\nder Bundesrepublik Deutschland und den the Federal Republlc of Germany and the\nVereinigten Staaten von Amerika über United States of America Regarding\ngewisse Angelegenheiten, die sich aus                               Certain Malters Arising from the\nder Bereinigung deutscher Dollarbonds                            Validation of German Dollar Bonds\nergeben\nIN DER ERWÄGUNG,\nDASS die Bundesrepublik Deutschland (im folgenden           WHEREAS the Federal Republic of Germany (herein-\n,,die Bundesrepublik\" genannt} und die Vereinigten Staa-     after referred to as \"the Federal Republic\") and the United\nten von Amerika (im folgenden „die Vereinigten Staaten\"      States of America (hereinafter referred to as \"the United\ngenannt) gemeinsam der Auffassung sind, daß eine Rege-       States\") have agreed that it is in their common interest to\nlung für die Feststellung der Gültigkeit deutscher Dollar-   provide for the determination of the validity of German\nbonds in ihrem beiderseitigen Interesse liegt, weil die      dollar bonds in view of the possibility that a !arge number\nMöglichkeit besteht, daß ViE;!le dieser Bonds während der    of such bonds may have been unlawfully acquired during\nFeindseligkeiten in Deutschland oder bald danach un-         hostilities in Germany or soon thereafter;\nrechtmäßig erworben wurden;\nDASS sich die Regierung der Bundesrepublik und die          WHEREAS they have agreed on procedures for accom-\nRegierung der Vereinigten Staaten über ein Verfahren         plishing this purpose in the Agreement Between the Go-\nzur Erreichung dieses Ziels in dem am 27. Februar 1953 zu    vernment of the Federal Republic of Gerrnany and the\nBonn unterzeichneten Abkommen über die Bereinigung           Government of the United States of Ame_rica Regarding\nvon Dollarbonds deutscher Aussteller•) (im folgenden „Ab-    the Validation of Dollar Bonds of Gerrnan Issue (herein-\nkommen über das Bereinigungsverfahren u genannt) ge-         after referred to as \"the Agreement on Validation Pro-\neinigt haben;                                                cedures\") signed at Bonn on February 27, 1953;\nDASS die Bundesrepublik einerseits und die Vereinig-        WHEREAS the Federal Republic of Germany on the\nten Staaten und andere Länder andererseits zur Regelung      one hand and the United States of Arnerica and other\nder Auslandsschulden Deutschlands einschließlich deut-       countries on the other signed the Agreement on German\nscher Dollarbonds am 27. Februar 1953' in London das Ab-     External Debts at London on February 27, 1953, for the\nkommen über Deutsche Auslandsschulden unterzeichnet          settlement of Gerrnany's extemal obligations, including\nhaben und daß die dadurch gewährten Vorteile nur für         German dollar bonds, the benefits of which will apply\nordnungsgemäß bereinigte Bonds gelten; und                   only to bonds which have been duly validated; and\nDASS die Bundesrepublik und die Vereinigten Staaten         WHEREAS the Federal Republic of Germany and the\ngemeinsam weitere Maßnahmen für erforderlich halten,         United States of America agree that further measures are\ndamit Schuldner und Gläubiger die ordnungsmäßige Rege-       required to perrnit debtors and creditors to proceed to the\nlung der Verbindlichkeiten aus deutschen Dollarbonds im      orderly settlement of the obligations arising from German\nVertrauen auf das Bereinigungsverfahren und in der Ge-       dollar bonds with confidence in the stability of the pro-\nwißheit in Angriff nehmen können, daß auf Grund unrecht-     cedures regarding validation and with assurance that\nmäßig erworbener Bonds keine Ansprüche, die sich auf         claims prejudicial to such settlement will not be asserted\neine solche Regelung nachteilig auswirken würden, gel-       on the basis of bonds which were unlawfully acquired:\ntend gemacht werden können;\nHABEN die Bundesrepublik und die Vereinigten Staa-          THEREFORE, the Federal Republic and the United States\nten folgendes vereinbart:                                    have agreed as follows:\nArtikel I                                                 Article\nVorbehaltlich anderer zukünftiger Vereinbarungen zwi-       Except as may be agreed between the Federal Republic\nschen der Bundesrepublik und den Vereinigten Staaten         and the United States, the Federal Republic will not\nwird die Bundesrepublik weder das Gesetz zur Bereinigung     amend, modify, or repeal its Law for the Validation of\nvon deutschen Schuldverschreibungen, die auf auslän-         German Foreign Currency Bonds of August 25, 1952\ndische Währung lauten, vom 25. August 1952 (Bundes-          (Bundesgesetzblatt 1952, Part I, page 553} (hereinafter re-\ngesetzblatt 1952 Teil I Seite 553) - im folgenden „das Be-   ferred to as \"the Validation Law\") or the Schedule thereto\nreinigungsgesetz\" genannt - noch das dazugehörige Ver-       insofar as they relate to bonds, debentures, or other obli-\nzeichnis der Auslandsbonds ergänzen, abändern oder auf-      gations (hereinafter referred to as bonds) listed in the said\nheben, soweit sich Gesetz und Verzeichnis auf Bonds,         Schedule or in the First Implementing Ordinance under the .\nSchuldverschreibungen oder sonstige Wertpapiere (im          said Law of February 21, 1953 (Bundesgesetzblatt 1953,\nfolgenden „Bonds\" genannt) beziehen, die in dem Ver-         Part I, page 31) and in respect of which the Schedule or\nzeichnis oder in der Ersten Durchführungsverordnung zum      the said Ordinance describes the United States as the\nBereinigungsgesetz vom 21. Februar 1953 (Bundesgesetz-       Country of Oftering, or to coupons, dividend warrants,\nblatt 1953 Teil I Seite 31) unter Angabe der Vereinigten     renewal certificates, subscription warrants or other secon-\nStaaten als Begebungsland aufgeführt sind, einschließlich    dary instruments issued in connection with such bonds.\ndazu ausgegebener Zins-, Gewinnanteil-, Erneuerungs- und     Except as may be so agreed, the Federal Republic will not\nBezugsscheine und anderer Nebenurkunden. Vorbehaltlich       exte.nd the provisions of the said Law to bonds offered in\nanderer zukünftiger Vereinbarungen wird die Bundes-          the United States and not listed in the said Schedule or\nrepublik die Bestimmungen des Bereinigungsgesetzes nicht     the said Ordinance.\nauf Bonds ausdehnen, die in den Vereinigten Staaten be-\ngeben und in dem genannten Verzeichnis oder der genann-\nten Durchführungsverordnung nicht aufgeführt sind.\n•) Veröffentlicht im Bundesanzeiger Nr. 50 vom 13. März 1953","302                                    Bundesgesetzblatt, Jahrgang 1953, Teil II\nArtikel II                                                    Article II\nDie im ersten Satz des Artikels I genannten Bonds, Zins-,   No bond, coupon, dividend warrant, renewal certificate,\nGewinnanteil-, Erneuerungs- und Bezugsscheine und an-        subscription warrant or other secondary instrument re-\nderen Nebenurkunden können nicht eingeklagt werden,          ferred to in the first sentence of Article I above shall be\nsofern und solange sie nicht entweder von der durch das      enforceable unless and until it shall be validated either\nAbkommen über das Bereinigungsverfahren geschaffenen         by the Board for the Vafidation of German Bonds in the\nBereinigungsstelle für deutsche Bonds in den Vereinigten-    United States established by the Agreement on Validation\nStaaten oder von den hierfür zuständigen Stellen in der      Procedures, or by the authorities competent for that pur-\nBundesrepublik anerkannt word~n sind.                        pose in the Federal Republic.\nArtikel III                                                  Article III\nDie Mitglieder der Bereinigungsstelle für deutsche Bonds    The members of the Board for the Validation of Ger-\nin den Vereinigten Staaten sind ermächtigt und verpflich-    man Bonds in the United States are authorized and bound\ntet, auf Jede Immunität gegenüber Zustellungen zu ver-       to waive all immunity from service of process issuing\nzichten, die von Gerichten in den Vereinigten Staaten in     from courts in the United States in proceedings brought\nVerfahren ausgehen, in denen eine Entscheidung darüber       to determine whether the requirements for validation of\nverlangt wird, ob die Voraussetzungen für die Anerken-       bonds under the Validation Law have been met. Such\nnung von Bonds nach dem Bereinigungsgesetz vorliegen.        proceedings must be brought within three months from\nDerartige Verfahren müssen innerhalb dreier Monate an-       receipt of the decision of the Board by the party seeking\nhängig gemacht werden, nachdem die Entscheidung der          validation of the bond. lt is agreed that such members\nBereinigungsstelle bei der Partei, welche die Anerken-       will comply with any judgments, orders or decrees that\nnung des Bonds beansprucht, eingegangen ist. Es besteht      such courts may issue in such proceedings. The term\nEinverständnis darüber, daß die Mitglieder der Bereini-      \"members\" as used in this Article includes the chairman\ngungsstelle sich allen Urteilen, Beschlüssen oder Anord-     and the deputies of the members when acting as members.\nnungen unterwerfen werden, welche die genannteJ} Ge-\nridlte in den vorbezeichneten Verfahren erlassen. Unter\n.,Mitglieder\" im Sinne dieses Artikels sind auch der Vor-\nsitzer sowie die ständigen Vertreter der Mitglieder zu ver-\nstehen, wenn sie als Mitglieder tätig werden.\nArtikel IV                                                    Article IV\nFür sämtliche Verfahren in den Vereinigten Staaten sind      For the purpose of all proceedings in the United States,\ndie dem Abkommen über das Bereinigungsverfahren bei-         the English texts of the Validation Law and of the Second\ngefügten englischen Texte des Bereinigungsgesetzes und       lmplementing Ordinance thereunder of March 1, 1953\nder Zweiten Durchführungsverordnung dazu vom 1. März         (Bundesanzeiger Nr. 50 of March 13, 1953) whic:h are an-\n1953 (Bundesanzeiger Nr. 50 vom 13. März 1953) authen-       nexed to the Agreement on Validation Procedures shall be\ntisch.                                                       authentic.\nArtikel V                                                     Article V\nDieses Abkommen soll von der Bundesrepublik und den          This Agreement shall be ratified by the Federal Republic\nVereinigten Staaten in tJbereinstimmung mit ihren ver-       and the United States in accordance with their re-\nfassungsmäßigen Verfahren ratifiziert werden. Das Ab-        spective constitutional procedures. The Agreement shall\nkommen tritt in Kraft, sobald (a) die Ratifikationsurkun-    enter into force upon (a) the exchange of instruments of\nden in Washington ausgetauscht sind und (b) nachdem das      ratification at Washington, and (b) the entry into force\nzwischen der Bundesrepublik einerseits und Frankreich,       of the Agreement on German External Debts between the\ndem Vereinigten Königreich von Großbritannien und            Federal Republic on the one hand, and France, the United\nNordirland, den Vereinigten Staaten und anderen Ländern      Kingdom of Great Britain and Northern Ireland, the United\nandererseits abgeschlossene Abkommen über Deutsche           States and other countries on the other hand.\nAuslandsschulden in Kraft getreten ist.\nAUSGEFERTIGT in doppelter Ursdlrift in deutscher und         DONE in duplicate, in the German and English lan-\nenglischer Sprache, wobei die Fassungen in beiden Spra-      guages, both authentic,\ndlen gleichermaßen authentisch sind,\nzu Bonn, am 1. April 1953.                                   at Bonn, this 1st day of April 1953.\nFür die Bundesrepublik     Für die Vereinigten Staaten      For the Federal Republic       For the United States\nDeutschland                   von Amerika                     of Germany                   of America\ngezeichnet:                   gezeichnet:                      signed:                       signed:\nSchäffer                   James B. Conant                    Schäffer                James B. Conant","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                                             303\nTranslation 1)\nSecond Implementing Ordinance\nunder the\nValidation Law for German Foreign Currency Bonds\n(United States of America)\nof Mardl 7, 1953\nPursuant to Articles 8 (6), 9 (5), 23 (5), 24 (4), 35 (2) and                                 Article 4\n76 of the Validation Law for German Foreign Currency\nBonds of August 25, 1952 (Bundesgesetzblatt I, p. 553) the                         Contents of Registration and Evidence\nFederal Government 1ssues the following Ordinance:                                     (Articles 22 and 24 of the Law)\nArticle 1                                   (1) The registration sbould be made on a form provided\nby the Validation Board.\nScope of Application and Definitions\n(1) This Ordinance shall apply to all securities listed in          (2) Together with tbe Dollar Bond, the registrant should\nthe Schedule of Foreign Currency Bonds (Article 1 (1) of             deposit all coupons available to bim. If tbe coupons thus\nthe Law) or added to the Schedule by way of supplement               deposited include tbe last coupon of those which fell due\n(Article 1 (2) of the Law) as far as tbe United States of            before January 1, 1940, no additional evidence need be\nAmerica are designated as Country of Offering (berein-               submitted at the time of the registration.\nafter referred to as \"Dollar Bonds\"), including all coupons,            (3) If the registrant is unable to deposit the coupon\ndividend warrants, renewal certificates, subscription war-           described in paragraph (2), second sentence, he should\nrants and otber secondary instruments (Article 5 of tbe              submit with his registration documents apt to prove that\nLaw) issued in connection with such securities.                      the registered bond was located on January 1, 1945 out-\n(2) For the purpose of this Ordinance, the term \"the             side the area specified in Article 3 (2) of the Law. In this\nForeign Representative\" shall mean the Foreign Repre-                respect, he should observe the f ollowing:\nsentative for the United States of America appointed pur-                    1. If the registrant acquired the bond prior to\nsuant to Article 8 (1) of the Law and bis permanent deput-                       January 1, 1945, he,should submit some document\nies appointed pursuant to Article 8 (7) of tbe Law.                              issued by a bank, security broker or security\nArticle 2                                           dealer which indicates that the registrant ac-\nquired the bond before January 1, 1945 from or\nDeposit of Bonds                                       through such bank, broker or dealer or its pre-\n(Article 23 (2) tbrougb (5) of tbe Law)                            decessor or that the bond was on January 1, 1945\n(1) Subject to the provision of paragraph (2), a deposit                     or before that date in the custody of such bank,\nof Dollar Bonds pursuant to Article 23 (2) tbrougb (5) of                        broker or dealer or its predecessor for the ac-\ntbe Law shall, in tbe United States, be made only with a                         count of the registrant.\nbank to be designated by the Federal Minister of Finance                    2. If the registrant is unable to submit a document\n(\"General Depositary\"). Tbe Federal Minister of Finance                         in accordance with sub-paragraph 1, or if he ac-\nsball designate as General Depositary a bank organized                           quired the bond after January 1, 1945, he should\nunder the laws of tbe United States or of any State tbere-                      submit such documents as he considers the best\nof, baving its principal place of business in tbe City of                        evidence available to him, which may include\nNew York and baving capital and surplus of at least                            · affidavits of persons other than the registrant.\n$ 100.000.000. The Federal Minister of Finance may, in bis\ndiscretion, terminate such designation and designate as                 (4) If neither the coupon described in paragraph (2),\nGeneral Depositary another bank which satisfies the re-             second sentence, nor documents described in para-\nquirements of tbe preceding sentence.                               graph (3) are available to the registrant, he should submit\nhis own affidavit setting forth the following data:\n(2) Tbe Federal Minister of Finance may designate in\nrespect of specified types of Dollar Bonds the paying                       1. date of acquisition of the bond by the registrant;\nagents as depositaries (\"Special Depositaries\") in lieu of.                 2. manner of such acquisition (e.g., purchase, in-\nthe General Depositary.                                                          heritance, gift};\n(3) Tbe designation of tbe General Depositary and of\nany Special Depositaries sball be publisbed in the Bundes-                  3. name and address of the person from whom, or of\nanzeiger and in such manner as the Government of the                             the broker or other intermediary through whom,\nUnited States may designate.                                                     he acquired the bond;\n4. the place at which the bond was held onJanuary 1,\nArticle 3                                            1945 _and name and address of the person who\nValidation Board                                        had custody thereof on that date;\n(Article 9 (5) of tbe Law)\nand, if the registrant acquired the bond after January 1,\n(1) Pursuant to Article 9 (5) of the Law, tbe functions of       1945,\ntbe Foreign Representative, except tbose under Articles 18\n(1) and (2), 33 (2) and 63 (5) of the Law, a;re bereby trans-               5. names and addresses of all persons having owned\nferred to the Board for the Validation of German Bonds in                        or having had custody of the bond since Janu-\ntbe United States established by the Agreement between                           ary 1, 1945, and the places at which it was held\nthe Federal Government and the Government of the                              . since that date.\nUnited States dated February 27, 1953 (herein referred to\nas \"the Validation Board\"). The Validation Board may                    (5) The provisions of paragraphs (2) through (4) shall\ndelegate specified functions to one of its members.                  not affect the power of the Validation Board to request\nadditional evidence from the registrant (Article 24 (3) of\n(2) Except as otherwise provided in this Ordinance,              the Law).\nArticle 9 (3) of the Law shall apply mutatis mutandis to\nthe proceedings before the Validation Board.                            (6) If the registrant complies with the provisions of\nparagraphs (2) through (5) and if the Validation Board has\n1)  Ubersetzung der im Bundesanzeiger Nr. 50 vom 13. März 1953 ver•  no reason to doubt that the statements made by the\nkündeten Zweiten Durchführun95verordnung zum Bereinigungsgesetz  registrant in his registration are true, the Board shall vali-\nfür deutsche Auslandsbonds (Vereinigte Staaten von Amerika) vom\n7. März 1953.                                                    date the bond.","304                                     Bundesgesetzlilatt, Jahrgang 1953, Teil II\nArticle 5                              (7) The Arbitration Boards shall not levy fees from or\nProcedure alter Registration                 charge expenses to the parties concerned.\n(Articles 24 (2) and (3) and 27 (2) of the Law)          (8) The application for review shall be filed with the\n(1) Upon receipt of a registration, the Validation Board   Validation Board. Five copies shall be filed with it. The\nshall take the action required by Article 24 (2) of the Law.  Validation Board shall serve one copy each on the Ex-\namining Agency, the issuer, the trustees and the paying\n(2) If the Board exercises the powers under Article 24     agents, with the request that any statement they wish to\n(3), second and third sentences, of the Law, it shall re-     make be filed with the Validation Board within sixty\nquest the registrant to submit the evidence or statement      days from the service. The Validation Board may extend\nwithin a period of three months from the receipt by the       this period upon application, but not for more than ninety\nregistrant of such request. lt shall extend this period or    days. Upon expiration of the periods thus allowed, the\nallow a further period if the registrant so requests for a    Validation Board shall transmit the application to the\nsufficient reason.                                            Arbitration Board, together with the proofs of service,\n(3) As soon as the Validation Board considers the          any statements received by it, any statement it desires\nrecord as sufficiently complete, it shall make its decision   to make in respect of its own position, and the file of the\nregarding the validation 1 in any event it shall render such  Validation Board concerning the bonds involved.\ndecision not later than six months from the receipt of the       (9) The Arbitration Board may take such evidence as\nregistration, unless special circumstances of the individual  it deems necessary.\ncase render this period insufficient.\n(4) In no case shall validation be denied before the         (10) Each Arbitration Board takes its decisions by joint\nValidation Board has informed the registrant of the facts     action of its two associate arbitrators if they are in agree-\nand the evidence opposing validation and has given him        ment. If they are not in agreement, they shall refer the\nan opportunity to ~ontest them. Paragraph (2) shall apply     matter to the chairman, whose decision in such case shall\nmutatis mutandis.                                             constitute the decision of the Arbitration Board.\n(5) When the Validation Board orders the return or           (11) Tue Arb~tration Board shall serve its decision upon\nrelease of a validated bond (Article 27 (2), second sen-      the Validation Board and the registrant. The Validation\ntence, of the Law) it shall cause a steel engraved or other-  Board shall notify the Examining Agency, the issuer, the\nwise forgeryproof validation certificate to be attached to    trustees and the paying agents of the decision.\nthe bond, unless the registrant prior to such order has        (12) In all other respects, the Arbitration Board shall be\nrequested the exchange of the bond for a new bond and         free to develop its own procedure.\nsuch new bond is available for delivery to the registrant\nat the time the order is made.                                                          ArticJ..e 7\nService of Documents\nArticle 6                                              (Article 70 of the Law)\nStatutory Arbitration Boards                     (1) Any service to be effected under the provisions of\n(Article 35 of the Law)                    this Ordinance shall be made by registered letter with\nreturn receipt requested.\n(1) For the review of decisions of the Validation Board\ndenying validation, an Arbitration Board shall be estab-         (2) Any other service in the United ·states under the\nlished in eac:h of the twelve Federal· Reserve Districts of   provisions of the Law shall be made in the same manner.\nthe United States.\n(2) Each Arbitration Board shall have jurisdiction in                                Article 8\nrespect of applications for review of registrants having                         Secondary Instruments\na residence or usual place of business in its District. In                      (Article 5 (1) of the Law)\naddition, the Arbitration Board for the Federal Reserve          The validation of a Dollar Bond extends to the coupons,\nDistrict of San FranciscO\" shall have jurisdiction in respect dividend warrants, renewal certificates, subscription war-\nof applications for review of registrants having a resi-      rants and other secondary instruments of the same serial\ndence or usual place of business within the Pacific terri-    number, whether submitted or not.\ntories or possessions of the United States, and the Arbi-\ntration Board for the Federal Reserve District of New                                   Article 9\nYork shall have jurisdiction in respect of applications for\nreview of registrants having no residence or place of                                  Land Berlin\nbusiness within any Federal Reserve District or any Pacific      In accordance with Article 14 of the Law concerning the\nterritory or possession of the United States.                 Position of Land Berlin in the Financial System of the\n(3) Each such Board shall consist of three arbitrators,    Federation (Third Transition Law) of January 4, 1952\nnamely, a chairman and two associate arbitrators. One of      (Bundesgesetzblatt I, p. 1) in conjunction with Article 18\nthe associate arbitrators shall be qualified to practice law  of the Validation Law, this Ordinance shall also be appli-\nin the particular Federal Reserve District or some part       cable in Land Berlin.\nthereof. Subject to the provision of the preceding sen-                                Article 10\ntence, any arbitrator may be a member of several Arbitra-\ntion Boards.                                                                          Eifective Date\n(4) The appointment of the arbitrators shall be made by       This Ordinance shall become effective on the day fol-\nthe Federal Minister of Finance as soon as a need for such    lowing its promulgation.\nappointment exists or the United States Government\nrequests such appointment. Article 77 (1), first sentence,    Bonn, March 1, 1953.\nof the Law applies to such appointment, mutatis mutandis.\nThe appointment shall be published in the Bundesanzeiger                         The Federal Chancellor\nand in such manner as the United States Government may                  and Federal Minister of Foreign Affairs\ndesignate.\nAdenauer\n(5) The Federal Minister of Finance may remove an\narbitrator if he seriously violates the duties of his office.               The Federal Minister of Financa\nArticle 77 (1), first sentence, of the Law applies mutatis\nmutandis. A vacancy shall be filled in accordance with                                  Schäffer\nparagraph (4).\nThe Federal Minister of Justice\n(6) The Federal Minister of Finance is authorized to\nenter with each arbitrator into a contractual agreement                                  Dehler\nconcerning bis remuneration. The remuneration shall, in\nprinciple, be measured by the number and the volume of                    The Federal Minister of Economics\ncases arising.                                                                      Ludwig Erhard","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                                    305\nTranslation 1J\nPromulgated in the Bundesgesetzblatt I of 26 August 1952,\npage 553-580\nLaw for the Validation of German Foreign Currency Bonds\n(Validation Law for German Foreign Currency Bonds\n-AusIWBG-)\nof 25 August 1952\nContents\nPART I                                        Application to a Court of the Country of\nOftering                                       Art. 33\nGeneral Principles of Validation Proceedings\nContractual Arbitration Boards                 Art. 34\nForeign Currency Bonds, Country of Oftering                   Art.      Statutory Arbitration Boards                   Art. 35\nValidation of Foreign Currency Bonds                          Art.   2  Measures tobe taken upon Final Denial          Art. 36\nValidation Requirements                                       Art.   3\nDeclaratory Decrees                                          Art.    4\nPART III\nSecondary Instruments                                        Art.    5\nAmortization Bonds (Tilgungsstücke)                          Art.    6     Registration with the Examining Agency\nRegistration with the Foreign Representative                 Art.    1\nRegistration, Registration Periods             Art. 37\nForeign Representatives                                      Art.    8\nLawful Acquisition                             Art. 38\nForeign Boards                                                Art.    9\nContents of Registration                       Art. 39\nRegistration with the Examining Agency                        Art.   10\nSubmission of the Registered Bond               Art. 40\nExamining Agencies                                            Art.   11\nEvidence                                       Art. 41\nOfficial Register of Validated Bonds                         Art.   12\nLack of Competency of the Examining Agency      Art. 42\nCollective Validation                                         Art.   13\nWithdrawal of Registration                      Art. 43\nProhibition of Payment                                        Art.  14\nValidation by the Examining Agency              Art. 44\nSubstitute Instruments                                        Art.  15\nSubmission to the Chamber for the Settlement of\nConfiscated Bonds                                             Art.  16  Securities                                      Art. 45\nOfficial Assistance                                           Art. 17   Protest of the Issuer                           Art. 46\nReceiving Registrations and Other Statements                  Art. 18   Procedure and Decision of the Chamber           Art. 47\nOpening Date                                                  Art. 19   Implementation of Decision                      Art. 48\nInformation of the Public                                     Art. 20\nPART IV\nPART II\nRegistration with the Foreign Representative                                       Duplicated Registrations           Art. 49\nRegistration, Registration Periods                            Art.  21\nPART V\nContents of Registration                                      Art.  22\nSubmission of the Registered Bond                             Art.  23    Bonds whkh have not been valldated, Claims\nEvidence                                                      Art.  24                  for Compensation\nLack of Competency of Foreign Representative                  Art.  25  Invalidation of Bonds which have not been\nWithdrawal of Registration                                    Art.  26  validated                                       Art. 50\nValidation of Foreign Currency Bond                           Art.  21  Subsequent Validation                           Art. 51\nDenial of Validation                                          Art.  28  Compensation for Bonds which have become\nLegal Remedies                                                Art.  29  invalid                                         Art. 52\nApplication for Reconsideration of Denial                     Art.  30  Claims for Compensation under Declaratory\nApplication for Court Review                                  Art.  31  Decrees                     '                   Art. 53\nEffect and Implementation of Court Decision                   Art.  32  Compensation Claims for Amortization Bonds      Art. 54\nl) Ubersetzung des Gesetzes zur Bereinigung von deutschen Schuld-\nverschreibungen, die auf ausländische \\Vährung lauten (Bereinigungs-\ngesetz für deutsche Auslandsbonds - AuslWBG) vom 25. August 1952\n(Bundesgesetzbl. I S. 553)","306                                 Bundesgesetzblatt, Jahrgang 1953, Teil II\nPART VI                                                   PART IX\nColiective Validation                                   Supplementary Provisions\nApplication for Collective Validation           Art. 55   Binding Eff ect of Decisions                    Art. 66\nInvestigations                                  Art. 56   Exclusive Jurisdiction                          Art. 61\nDecision concerning Collective Validation       Art. 51   Liens and Other Rights of Third Parties in\nImplementing Provisions                         Art. 58   Foreign Currency Bonds                          Art. 68\nApplicable Provisions of Other Legislation      Art. 69\nPART VII\nService of Documents                            Art. 70\nChambers for Validation                         Art. 71\nRelease of Collateral                       Powers of the President of the Chamber          Art. 72\nRequirements of Release                         Art. 59   Several Issuers                                 Art. 13\nApplication to the Court for Release            Art. 60   Foreign Currency Bonds of the German Reich\nEffect of Decision Granting Release             Art. 61   and of the Former State of Prussia              Art. 74\nImport and Export Provisions                    Art. 75\nImplementing Provisions                         Art. 76\nPART VIII\nCooperation of Country of Oftering               Art. 77\nCosts\nPART X\nCosts of Proceedings                            Art.  62\nReimbursement of Expenses                       Art.  63                   Final Provisions\nAdministrative Fee                              Art.  64  Land Berlin                                      Art. 78\nImplementing Provisions                         Art.  65  Effective Date                                   Art. 79\nThe Bundestag has adopted the following Law,           if it has been registered for examination in accor-\nwith the approval of the Bundesrat:                      dance with Articles 7, 10 and has been submitted\nas provided in Articles 23, 40, and if\nPART I                                  1. the bond is a \"bond held abroad\" (Aus-\nlandsstück) within the meaning of para-\nGeneral Principles of Validation Proceedings                      graph (2) or\n2. the registrant is the lawful acquirer of the\nArticle t                                   bond within the meaning of Article 38 (1)\nand (2) (\"lawfully acquired bond\") or\nForeign Currency Bonds, Country of Offering\n3. the bond has been restituted to the re-\n(1) Foreign currency bonds within the meaning                    gistrant, for reason of a confiscation (Ent-\nof this Law are securities of the types listed in the               ziehung} committed inside or outside Ger-\nattached Schedule (Schedule of Foreign Currency                     rnany on or before May 8, 1945, by a final\nBonds}. The State set forth in the Schedule is con-                 decision of an authority or agency having\nsidered as the Country of Oftering of the respective                jurisdiction within the area of applicability\ntype of bonds.                                                      of this Law (restituted bond}.\n(2) The Federal Government may, by Ordinance,             (2) A foreign currency bond is a bond held abroad\nsupplement the Schedule within two years from            if it was located on January 1, 1945, outside the\nthe effective date of this Law. Such action may add       borders of Germany as they existed on Decem-\nto the Schedule only bonds denominated in foreign         ber 31, 1937, (hereinafter called \"outside Germany\")\ncurrency and issued on or before May 8, 1945, by          and outside Danzig, Memel, Austria and such\nissuers having their seat in the area of applicability    parts of Poland or Czechoslovakia including the\nof this Law.                                              former Protectorate of Bohemia and Moravia as,\nby January 1, 1945, had been incorporated by\nArticle 2                         Germany into her administration. Tue term bond\nheld abroad further includes any foreign currency\nValidation of Foreign Currency Bonds              bond of the type described in paragraph (1) No. 3\nif the decision granting restitution was made for\nForeign currency bonds remain valid only if they       reason of a confiscation committed outside Germany\nare validated (anerkannt) pursuant to this Law.           and the holder, at the time of registration, has his\nForeign currency bonds not so validated are subject       domicile, ordinary residence, seat or principal place\nto Articles 50, 52 to 54.                                 of business outside Germany.\nArticle 3                                                  Article 4\nValidation Requirements                                     Declaratory Decrees\n(1) Subject to Article 6, a foreign currency bond        Subject to Article 6, there shall be granted in the\nshall be validated in the examination proceeding          examination proceeding a declaratory decree in","Nr. 14 -Tag der Ausgabe: Bonn, den 20. August 1953                          301\nrespect of any foreign currency bond which has                    kasse for German External Debts or the\nbeen destroyed or for some other reason cannot be                 Gold Discount Bank,\nsubmitted for validation by any person entitled to      are deemed to have been acquired for amortization\nregister it, if the bond has been registered in accor-  purposes and to be invalid. Such bonds shall not be\ndance with Article 10 and if it is established that     validated and no declaratory decree shall be\nthe registrant is the lawful acquirer within the mean-  granted in respect of them; they give only the\ning of Article 38 (3). Such declaratory decree con-     claim for compensation pursuant to Article 54.\nfers the claim for compensation specified in Ar-\nticle 53.                                                  (2) Paragraph (1) shall not apply to bonds which\non or before May 8, 1945, have been pledged, or\ndeposited as collateral, in favor of third parties or\nArticle 5                       otherwise re-entered circulation. Nor shall para-\nSecondary Instruments                  graph (1) apply to bonds confiscated inside or out-\nside Germany on or before May 8, 1945.\n(1) Any legal effect in respect of a foreign cur-       (3) The persons specified in paragraph (1) shall\nrency oond resulting by virtue of this Law or of       cooperate in any action necessary to assure that\nany provision made pursuant thereto extends to the     bonds deemed invalid pursuant to paragraphs (1)\nprimary instruments as well as to any secondary        and (2) will be taken into account as redeemed. lf\ninstruments issued in connection therewith. This       such persons regain the power of disposing freely\nprovision applies also to cases where such secon-       of the bonds referred to in paragraph (2), they shall\ndary instruments have been detached from the            forthwith use such bonds for amortization.\nprimary instrument and the latter is reg.istered in\nthe examination proceeding without the secondary\ninstruments.                                                                  Article 7\n(2) In cases where the bond is submitted in the\nRegistration with the Foreign Representative\nexamination proceeding together with the secon-\ndary instruments issued in connection therewith,          (1) If  validation of a foreign currency bond is\nthe fact that the secondary instruments were located    demanded pursuant to Article 3 (1) No. 1 (bond\non January: 1, 1945, outside ·Germany and outside      held abroad), the bond shall be registered with the\nthe area specified in Article 3 (2), first sentence,   competent Foreign Representative for the Validation\nshall be sufficient to render applicable Article 3      of German Foreign Currency Bonds (Article 8).\n(1) No. 1.\n(2)  The registration and the examination pro-\n(3) The Federal Government may, by Ordinance,        ceeding are subject to the provisions of Articles 21\npermit, in respect of specified types of foreign cur-  to 36.\nrency bonds, secondary instruments to be independ-\nently registered for validation if the rights em-\nbodied therein can be exercised independently of                              Article 8\nthe primary instrument. Secondary instruments                          Foreign Representatives\nthus registered independently for validation shall\nbe deemed to constitute foreign currency bonds            (1)  The Federal Ministers of Finance and of\nwithin the meaning of this Law.                        Foreign Affairs, in conjunction with the Federal\nMinister for Economics, shall appoint in respect of\n(4) The Federal Govemment may also provide\neach Country of Oftering, upon the consent of\nin an Ordinance issued under paragraph (3) that a\nsuch Country, a Foreign Representative for the\ndecision concerning validation of the primary in-\nValidation of German Foreign Currency Bonds\nstrument shall not extend, or shall extend only\n(\"Foreign Representative\"). A Foreign Represen-\nunder certain conditions, to the sec;ondary instru-\ntative is competent in respect of all bonds of the\nments. Any decision rendered pursuant to stich an\nCountry of Oftering for which he has been appointed.\nOrdinance shall state to which secondary instru-\nThe Federal Government may establish by Ordi-\nments it does not extend.\nnance a different rule of competency for certain\ntypes of bonds.\nArticle 6                         (2) The Federal Minister of Finance exercises\nadministrative superv1s1on over the Foreign\nAmortization Bonds (Tilgungsstücke)\nRepresentatives, in conjunction with the Federal\n(1) For the purposes of this Law, foreign currency  Minister of Foreign Affairs. He may delegate the\nbonds which                                            immediate supervision to another agency, in con-\njunction with the Federal Minister of Foreign\n1. were re-acquired by the issuer or acquired   Affairs. As f ar as substantive decisions concerning\nfor his account or                           validation of bonds are concerned, the Foreign\n2. were acquired by, or for the account of,     Representatives are not subject to directions of\nother persons directly liable as debtors     their administrative supervisors.\nfor the obligation embodied in the bonds        (3) Tue Federal Ministers of Finance and of\nfor the purpose of discharging their obli-   Foreign Affairs, in conjunction with the Federal\ngation, or\nMinister for Economics, may remove a Foreign\n3. were acquired by, or for the account of,     Representative for cause. They may effect such\nthe Reich, the Reichsbank, the Konversions-  removal only after consultation with the Country","308                               Bundesgesetzblatt, Jahrgang 1953, Teil II\nof Offering; if there is <langer in delay, they may                              Article 10\nsuspend him preliminarily. A Foreign Representative\nmust be removed if the Country of Offering so                   Registration with the Examining Agency\nrequests.                                                  (1) lf validation of a bond is demanded pursuant\n(4) In the discharge of their functions, Foreign     to Article 3 (1) No. 2 (lawfully acquired bonds) or\nRepresentatives may use the assistance of German        to Article 3 (1) No. 3 (restituted bonds), the bond\nor foreign experts, banks or other appropriate          shall be registered with the competent Examining\nagencies.                                               Agency (Article 11 ). This provision shall also apply\nif a declaratory decree is demanded pursuant to\n(5) Notice of appointments and removals of           Article 4.\nForeign Representatives shall be given in the\nBundesanzeiger.                                             (2) The registration and the examination proceed-\ning are subject to the provisions of Articles 37 to 48.\n(6) Tbe Federal Government may issue by Ordi-\nnance supplementary provisions concerning appoint-\nment, removal, administrative (dienstliche) rights\nArticle 11\nand duties of the Foreign Representatives.\n(7) Permanent deputies may be appointed in                              Examining Agencies\nrespect of a Poreign Representative. They shall             (1) Within three months from the effective date\nperform such functions as the Foreign Repre-            of this Law or, in cases falling under Article 1 (2),\nsen tati ve assigns to them. Otherwise, they shall      within one month from the effective date of the .\nbe subject to the same provisions as the Foreign        Ordinance supplementing the Schedule, each issuer\nRepresentative, mutatis mutandis.                       of foreign currency bonds shall, by a notification to\nthe Bank Control Authority, within whose district\nArticle 9                       the issuer's seat is located, designate as Examining\nForeign Boards                     Agency a banking institution within the area of\napplicability of this Law. lf a banking institution is\n(1) Tue Federal Government may, by Ordinance,        the issuer, it may designate itself as Examining\ntransfer the functions of the Foreign Representative    Agency.\nin whole or in part to a Foreign Board for the              (2) The designation as Examining Agency re-\nValidation of German Foreign Currency Bonds             quires confirmation by the Bank Control Authority.\n(\"Foreign BoardH), which shall be established\npursuant to paragraph (2).                                  (3) Upon such confirmation, the Bank Control\nAuthority shall give notice of such designation by\n(2) The Foreign Boards shall consist of the          publication in the Bundesanzeiger.\nForeign Representative, a second Foreign Repre-\nsentative and a chairman. The second Foreign                (4) Otherwise, Articles 7, 51 and 52 of the Ordi-\nRepresentative and the chairman shall be appointed      nance for the Settlement of Securities (Gesetz zur\npursuant to Article 8 (1); they can be removed           Bereinigung des Wertpapierwesens) of 19 August\nonly upon the consent of the Country of Offering.        1949 (Gesetzblatt der Verwaltung des Vereinigten\nOtherwise, paragraph (3), third sentence, and para-      Wirtschaftsgebietes, page 295-301) apply mutatis\ngraphs (4), (5) and (7) of Article 8 apply mutatis       mutandis.\nmutandis.\n(3) The provisions concerning proceedings before                              Article 12\nthe Foreign Representative apply mutatis mutandis                 Official Register of Validated Bonds\nto proceedings before the Foreign Board. The\nForeign Board takes its decision without the parti-          (1) Foreign currency bonds validated pursuant to\ncipation of the diairman if the two Foreign Represen-    this Law shall be entered in an official register,\ntatives are in agreement. If they are in dis-            with an exact indication of their characteristics,\nagreement, they shall refer the matter to the chair-     including their serial numbers. The same applies to\nman for decision. Eadi of them shall gi ve his           secondary instruments independently validated (Ar-\nopinion on the matter thus referred. An agreed           ticle 5 (3)). If the validation of the primary instru-\ndecision of the two Foreign Representatives as           ment does not extend to the secondary instruments\nweil as a decision of the chairman have the same         (Article 5 (4)), this shall also be indicated.\neffect, and are subject to the same remedies, as             (2) The official register shall be kept by the Office\na decision of a Foreign Representative.                  for Validation of Securities and shall be published\n(4) The Federal Government may issue by Ordi-        in the Bundesanzeiger in appropriate instalments.\nnance supplementary provisions concerning estab-             (3) Nothing in this Law shall affect the authority\nlishment and procedure of the Foreign Boards as          of any competent German or foreign agency to\nweil as appointment, removal and administrative          direct, for the area of its functions, that validated\n(dienstliche) rights and duties of their members.       foreign currency bonds or secondary instruments\n(5) The Federal Government may also by Ordi-          independently validated shall be identified by an\nnance transf er the functions of the Foreign Repre-      attachment, a stamp or in any other manner or\nsentative in whole or in part to another agency         that the admission to trading at a stock exchange\nestablished by an Agreement with the Country of          or in other commerce shall be limited to instruments\nOff ering and composed substantially in the same         entered in the official register or otherwise iden-\nmanner as a Foreign Board.                              tified as validated.","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                           309\nArticle 13                           (2) If a foreign currency bond has been lost after\nthe confiscation, paragraph (1) applies mutatis\nCollective Validation                  mutandis in respect of the right to demand a\nThe Federal Minister of Finance, in conjunction      dedaratory decree.\nwith the Federal Minister of Justice, may validate         (3) Final decisions of authorities and agencies\nall or certain foreign currency bonds of a certain      having jurisdiction within the area of applicability\ntype in the manner provided in Articles 55 to 58        of this Law which direct the restitution of a con-\n(\"collective validation\"). Such collective validation   fiscated bond or the assignment of the right men-\nhas the same eff ect as a validation by the agencies    tioned in paragraph (2) are binding in the exami-\notherwise competent under this Law.                      nation proceeding.\nArticle 14\nArticle 17\nProhibition of Payment\nOfficial Assistance\nIn respect of foreign currency bonds not vali-\ndated, issuers, trustees and paying agents may make        (1) The authorities and agencies exercising func-\nonly such payments or such other performance as         tions under this Law shall grant official assistance\nthis Law obligates them to make.                        to each other. Fees and expenses for such official\nassistance shall not be reimbursed.\nArticle 15                          (2) The Foreign Representatives may request the\ncourts to take depositions of witnesses and experts\nSubstitute Instruments                  and to receive other evidence. Articles 157, 158,\n159 (1), first sentence, and (2), 160, 164 and 165 of\n(1) This Law does not affect provisions author-      the Law concerning the Organization of the Courts\nizing invalidation (Kraftloserklärung) of, or issu-      (Gerichtsverfassungsgesetz) apply mutatis mutandis;\nance of a substitute instrument for, a foreign cur-     the request may also be addressed to the Chamber\nrency bond.                                             for the Settlement of Securities for the district in\n(2) The substitute instruments are foreign cur-      which the issuer has its seat or in which the action\nrency bonds within the meaning of this La w. For        requested is to be carried out. To such taking of\nthe examination proceedings, the original bond and      evidence, the provisions of the Law concerning Non-\nthe substitute instrument issued for it are deemed      Contentious Jurisdiction (Gesetz über die An-\nto be a single instrument. A substitute instrument      gelegenheiten der freiwilligen Gerichtsbarkeit) apply\nissued after January 1, 1945, is deemed tobe a bond     mutatis mutandis; the court to which the request is\nheld abroad (Article 3 (1) No. 1) if the original       addressed decides upon such questions as would\nbond was located outside Germany and outside the        be decided by a requesting court under the rules\nareas specified in Article 3 (2), first sentence, on    of procedure otherwise prevailing.\nJanuary 1, 1945, or, if the event giving rise to the       (3) In proceedings under this Law, courts may\nissuance of the substitute instrument occurred          request legal assistance also from the Chamber for\nearlier, on such earlier date; Article 3 (2), second    the Settlement of Securities for the district in which\nsentence, applies mutatis mutandis.                     the issuer has its seat or in which the action\n(3) Substitute instruments of such bonds as have     requested is to be carried out.\nalready been validated pursuant to this Law do not\nrequire a further validation. Upon application of\nthe holder, the Office for Validation of Securi-ties                            Article 18\nshall enter them in the official register (Article 12);    Receiving Registrations and Other Statements\nsuch entry shall make a reference to the validation\nalready allowed.                                           (1) lf the registrant sojourns outside the area\nof applicability of this Law, any registration or\nArticle 16                       statement which has to be filed with, or made to,\na Foreign Representative or an Examining Agency\nConfiscated Bonds                     may be filed by such registrant with the Foreign\n(1) A person who has filed with an authority         Representative appointed for the area in which\nor agency having jurisdiction within the area of        such registrant sojourns. lf no Foreign Represen-\napplicability of this Law a claim for restitution of    tative has been appointed for such area, the\na foreign currency bond confiscated inside or out-      registrant may file the statement with a German\nside Germany on or before May 8, 1945, may              consular agency competent for such area. lf no\nregister such bond in the examination proceeding        such agency exists, the registrant may file the\nregardless of whether such claim has as yet been        statement with any Foreign Representative or any\ndetermined. The registration must set forth that        consular agency of the Federal Republic or with\nit concerns a confiscated bond. The examination         the Examining Agency.\nproceeding will be deferred until a final decision         (2) Any statement thus received by .the agents\nconcerning the restitution claim has been rendered.     or agencies mentioned in paragraph (1) shall t,e\nlf further registrations have been made in respect      transmitted by them in accordance with the regis-\nof such confiscated hond, the proceedings in respect    trant's instructions. In the absence of such instruc-\nof them shall also be deferred until the decision       tion, statements received by a consular agency\nconcerning the restitution claim has been rendered.     shall be transmitted to the competent Foreign","310                                 Bundesgesetzblatt, Jahrgang 1953, Teil II\nRepresentative or the competent Examining Agency;        ticle 3 (1) No. 1), the bond shall be registered for\nstatements received by ar Foreign Representative         validation with the competent Foreign Represen-\noutside his competency or by an Examining Agency         tati ve (Article 8 (1)) within one year after the\nshall be processed in accordance with Article 25 or      Opening Date (Article 19). The registration may be\nArticle 42, respectively.                                made within two years after the expiration of the\n(3) Statements to be made to a Foreign Repre-         period specified in the first sentence if the regi-\nsentative or an J:;xamining Agency within a certain      strant shows that the f ailure to register the bond\nperiod are considered as so made if made within          earlier was not due to his own gross negligence.\nsuch period to the agent or agency competent                 (2) The Federal Government may, by Ordinance,\npursuant to paragraph (1). A registration is also        extend in respect of certain types oi bonds the\ntimely if it has been despatched within the appli-       period specified in paragraph (1), first sentence, up\ncable registration periods (Articles 21 (1) and (2)      to a total length of three years, and the period\nand 37 (2)) to an agent or agency competent pur-         specified in paragraph (1), second sentence, up to\nsuant to paragraph (1), third sentence, and has          a total length of four years, provided that the total\nbeen received by such agent or agency within three       length of both periods together may not exceed\nmonths from the expiration of such period.               five years.\n(4) Paragraph (3) does not apply to the taking of         (3) Where validation of a bond registered with\nappeals or of other legal remedies, nor to renewed       an Examining Agency has been denied by a final\nregistrations pursuant to Articles 21 (3) and (4)        decision, the bond may again be registered with\nand 37 (3).                                              the competent Foreign Representative if validation\nis demanded pursuant to paragraph (1), first sen-\nArticle 19                       tence. Such registration must be made within three\nmonths from the date on which the denial has\nOpening Date                      become final. The periods set forth in paragraphs\n(1) The opening Date within the meaning of this        (1) and (2) do not apply to such renewed registration\nLaw is, in respect of the types of bonds listed in       unless validation had been denied in the previous\nthe Schedule of Foreign Currency Bonds, the first         proceeding on · tlie -ground that registration was\nday after the expiration of six months from the           made too late.\neffective date of the Law.                                   (4) Paragraph (3) applies mutatis mutandis if a\n(2) The Federal Government may, by Ordinance,         Foreign Representative denies validation on the\nestablish in respect of bonds of a certain type           ground that another Foreign Representative is com-\npetent. The Foreign Representative with whom the\n1. an earlier Opening Date, if appropriate        renewed registration is made shall promptly so\nexamination of registrations by the Foreign    inform the Foreign Representative who had denied\nRepresentative and the Examining Agency        validation.\nis already assured on such date, or\nArticle 22\n2. an Opening Date not more than six months\nlater, if the Foreign Representative or the                   Contents of Registration\nExamining Agency are not able to com-             (1) The registration shall set forth the name and\nmence appropriate examination of the           the first name (the firm) and the address of the\nregistrations before such date.                registrant.\n(3) If  the Schedule of Foreign Currency Bonds            (2) The exact characteristics of the bond, in partic-\nis supplemented, an Opening Date in respect of            ular its serial number, shall be stated. Tue facts\nthe bonds added by such supplement shall be              relevant for the registration shall be set forth\nestablished with appropriate application of para-        together with an indication or submission of the\nlJraph (2).                                               evidence.\n(3) A registration not conforming, or not con-\nArticle 20                      forming fully, with the several requirements of\nInformation of the Public                paragraphs (1 ), (2) is nevertheless effective if it\nsufficiently identifies the registrant and the regis-\nThe Federal Minister of Finance shall take the         tered foreign currency bond. This provision does\nmeasures necessary in order to draw in an appro-         not affect the registrant's obligation to supplement\npriate manner the attention of the public, parti-        or to correct the registration.\ncularly in Germany and the Countries of Offering,\n(4) Tue Foreign Representative shall promptly\nto this Law, to the rJghts and obligations of bond-\nnotify the Examining Agency, the issuer and the\nholders resul ting from it and to the consequences\ntrustees and paying agents of each registration of\nof a f ailure to observe the provisions of this Law.\na bond, indicating its characteristics, in particular\nits serial number. Tue registrant shall file with his\nPART II                         registration the necessary copies thereof.\nRegistration with the Foreign Representative\nArticle 23\nArticle 21                                Submission of the Registered Bond\nRegistration, Registration Periods                (1) The foreign currency band shall be submitted\n(1) If validation is demanded on the ground that      with the registration to the competent Foreign Re-\nthe foreign currency bond was held abroad (Ar-           presentative, who takes it into custody.","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                             311\n(2) The bond may also be deposited with a suit-     shall transfer it to the competent Foreign Repre-\nable institution, if arrangements have been made       sentative or Examining Ageilcy. Before such action\nwhich assure that the bond will not be released        is taken, the registrant shall be given an oppor-\nwithout the consent of the Foreign Representative      tunity to make a statement on this P.Oint. The trans-\nand will be delivered upon his request at any time     fer shall not be made if the registrant objects to\neither to him or to another Foreign Representative     it within a reasonable period allowed him by the\nor an Examining Agency designated by him. The           Foreign Representative; in this case, the Foreign\nregistrant shall fumish with the registration a cer-    Representative shall deny the validation and inform\ntificate evidencing such deposit and such arrange-      the registrant of the possibility of renewed registra-\nments and showing the exact characteristics of the     tion with the competent Foreign Representative\nbond, in particular its serial number.                  (Article 21 (4)) or with the Examining Agency\n(3) If the bond or the certificate specified in      (Article 37 (3)).\nparagraph (2) is not submitted together with the         ,, (2) Tue decision of the Foreign Representative\nregistration, the Foreign Representative shall request concerning the transfer is not subject to any review.\nthe registrant to make such submission within a        The registration is deemed to have been timely\nreasonable period. Upon the expiration of such          made if, considering Article 18, it was timely sub-\nperiod, the validation shall be denied unless the       mitted to the Foreign Representative who held him-\nsubmission has been made prior to the decision.        self not competent.\n(4) The Foreign Representative may approve in\nappropriate cases a procedure deviating from para-                              Article 26\ngraphs (1) to (3), provided the validation will not\nbe jeopardized thereby. He may make such approval                      Withdrawal of Registration\nsubject to specified conditions.                             (1) The registrant may withdraw the registration\n(5) The Federal Government may, by Ordinance,        only as long as the Foreign Representative has not\nissue more detailed provisions for the implement-      made a decision with regard to it.\nation of paragraphs (1) to (4) in respect of certain        (2) The Foreign Representative shall notify of\ntypes of bonds and, in particular, may direct that      such withdrawal the Examiri.ing Agency, the issuer\ndeposits pursuant to paragraph (2) may be made          and the trustees and paying agents and shall\nonly with specified institutions.                       return or cause the release of the bond.\nArticle 24\nArticle 27\nEvidence\nValidation of Foreign Currency Bond\n(1)  The registrant has to prove the requirements\nfor validation of the registered bond by the Foreign        (1) The Foreign Representative shall validate the\nRepresentative. For this, he may use any evidence,     bond if he is satisfied, after giving such weight\nin particular official documents, statements of a      as he sees fit to all pertinent circumstances, that\nbank or broker, and affidavits or other forms of       the registration meets the requirements of Ar-\naffi rma ti on.                                        ticle 3 (1) No 1.\n(2) The issuer as well as the trustees and paying        (2) Upon such validation, the Foreign Represent-\nagents shall be given an opportunity to make a         ative shall issue to the registrant a validation\nstatement in respect of the registration and to sub-   certificate, which shall set forth the exact charac-\nmit evidence.                                          teristics of the bond, in particular its serial number.\nHe shall notify of such validation the Examining\n(3) Irrespective of the registrant' s burden of     Agency, the issuer, and the trustees and paying\nproof, the Foreign Representative may make such        agents, shall cause the bond to be entered in the\ninvestigation as he considers necessary to ascertain\nofficial register (Article 12)° and shall return it or\nthe facts. For this purpose, he may request the        cause its release.\nregistrant to submit specified documents or other\nappropriate evidence. If there is reason to believe\nthat a bond, by virtue of Article 6, cannot be                                  Article 28\nvalidated, the Foreign Representative shall inform                        Dental of Validation\nthe registrant of the facts and evidence on which\nsuch belief rests and shall give him an opportunity         (1) Subject to Article 25, the Foreign Represent-\nto refute this belief.                                 ative shall deny the validation of a registered\n(4) The Federal Government may provide, by          bond if he is not satisfied, after giving such weight\nOrdinance, that certain documents or other writings    as he sees fit to all pertinent circumstances, that\nshall be sufficient or necessary to prove facts        the requirements for a validation by him have\nrelevant for the validation.                           been met.                          ·\n(2) Tue Foreign Representative shall set forth in\nArticle 25                      writing the reasons for such decision.\nLack of Competency of Foreign Representative            (3) Tue registrant shall be notified of the decision\nof the Foreign Representative and of the reasons\n(1) lf the Foreign Representative is not competent  therefor by registered letter with return receipt\nin respect of a registration received by him, he       or in some other manner which permits proof of the\n,·~--~-,","312                                 Bundesgesetzblatt, Jahrgang 1953, Teil II\ndate of receipt; the registrant shall receive a state-        (3) Upon such application, validation of the bond\nment informing him of the legal remedies available         may not be granted before the issuer and the\nto him. The Examining Agency, the issuer, and the          trustees and paying agents have been given an\ntrustees and paying agents shall be notified of the        opportunity to make a statement and to submit\ndenial.                                                    evidence. In all other respects, the provisions con-\ncerning the proceedings before the Foreign Re-\nArticle 29                         presentative shall apply . mutatis mutandis to the\nprocedure.                          . ._\nLegal Remedies\n(4J lf the Chamber finds that the application of\n(1) A decision of the Foreign Representative vali-     the registrant is justified, it shall render a decision\ndating a bond is not subject to any review.                holding that the requirements for validation under\n(2) In respect of a decision denying validation,       this Law have been met. Such decision may also be\nthe registrant has only the legal remedies specifled       rendered if the bond had been registered with a\nin this Law (Articles 30, 31, 33 to 35); if more than      Foreign Representative not competent, or if the\none is available he may elect. As soon as the deci-        requirements for validation set forth in Article 3 (1)\nsion is no langer subject to any review, it becomes        No. 1 have not been met, but those set forth in\nbinding upon all concemed. The provisions of               Article 3 (1) Nos. 2, 3, have been met. In all other\nArticle 21 (4) and Article 37 (3) remain unaffected.       cases; the Chamber shall deny the application for\ncourt review. lf the application is withdrawn, the\nproceedings in the Chamber shall be discontinued;\nArticle 30                         in this case, the said application is deemed not to\nApplicatlon for Reconsideration of Denial           have been made.\n(5) The decision of the Chamber shall set forth\nExcept where validation was denied for non-\nreasons in writing and shall be served upon the\nobservance of the periods specified in Article 21,\nregistrant and the issuer. The Foreign Represent-\na registrant who submits new facts or new evidence\native, the Examining Agency, and the trustees and\nmay apply to the Foreign Representative for\npaying agents shall be notified of the decision.\nreconsideration of the decision denying validation;\nlf such decision becomes final, the Foreign Re-\nthe application must be made within two months\npresentative shall be so notified.\nfrom the receipt by the registrant of such decision,\nbut not later than four months from the despatch              (6) From the decision of the Chamber, the regis-\nof the decision. The provisions conceming the re-          trant as well as the issuer may take an Immediate\ngistration and the examination proceeding shall            Appeal (sofortige Beschwerde) to the Oberlandes-\napply mutatis mutandis to the application for recon-     . gericht competent pursuant to Article 34 of the\nsideration. In respect of a decision of the Foreign        Ordinance for the Settlement of Securities of\nRepresentative maintaining the denial of validation,       19 August 1949 (Gesetzblatt der Verwaltung des\nthe registrant has the same legal remedies as in          Vereinigten Wirtschaftsgebietes, page 295-301). The\nrespect of the original denial; however, the appli-        appeal must be submitted to the Chamber for the\ncation for reconsideration may not be repeated.            Settlement of Securities within a period of three\nmonths, either by filing a written petition or by\nhaving an oral petition recorded by the clerk of\nArticle 31                        the Chamber. The said period runs from the service\nApplication for Court Review                 of the decision upon the appellant; if the appeal\nis not taken within such period, restitutio in in-\n(1) In respect of a decision of the Foreign Re-        tegrum will not be granted. lf the appeal is taken\npresentative denying validation, the registrant may        by filing a written petition, the petition must be\napply to the Chamber for the Settlement of Secu-           signed by an attorney-at-Law or by a credit insti-\nrities of the district in which the issuer has its seat   tution within the area of applicability of this Law.\nfor court review.                                          The appeal may be bctsed upon new facts and new\n(2) Such application must be submitted in writing      evidence. In all otper respects, the provisions con-\nto the Chamber for the Settlement of Securities or         cerning the procedure before the Chamber for the\nto the Foreign Representative concerned within             Settlement of Securities shall apply mutatis mutan-\nthree months from the receipt by the registrant of        dis to the procedure on appeal. · No further appeal\nthe decision denying validation, but not later than       shall be allowed.\nsix months from the despatch of such decision. lf\nthe application is received by a Chamber incompe-                                 Article 32\ntent by reason of venue, the Chamber shall transfer\nit to the competent Chamber. The decision con-                 Effect and Implementation of Court Decislon\ncerning such transfer is not subject to review. The           (1) If the decision rendered upon an application\napplication is deemed to have been timely made            pursuant to Article 31 (1) holds that the requirements\nif it was timely received by the aforesaid incompe-        for validation of the registered bond under this\ntent Chamber. Article 22 applies mutatis mutandis         Law have been met, the Foreign Representative\nto such application. The Chamber shall transmit a         shall take the measures specified in Article 27 as\ncopy of the application to the Foreign Represent-          soon as the decision has become final.\native, the Examining Agency, the issuer, and the\ntrustees and paying agents. The registrant shall file         (2) lf the decision does not so hold, the decision\nthe necessary number of copies with his application.       of the Foreign Representative denying validation","Nr. 14 -Tag der Ausgabe: Bonn, den 20. August 1953                            313\nshall become binding upon all concerned as soon              Ordinance pursuant to paragraph (2) provides other-\nas the decision of the court has become final.             wise. Article 33 (2) applies mutatis mutandis. De-\nArticle 21 (4) and Article 38 (3) remain unaftected.         cisions of such boards are not subject to any review;\nArticle 32 is applicable to such decisions.\nArticle 33                                               Article 36\nApplication to a Court of the Country of Offering               Measures to be taken upon Final Denial\n(1) lf, pursuant to the applicable foreign law, the         (1) When a decision of a Foreign Representative\nregistrant may apply to a court of the Country of           denying validation has become binding, the Foreign\nOftering for a decision of the issue whether the            Representative, subject to paragraph (6), shall note\nrequirements under this Law for validation by the           the denia] of validation on the registered bond,\nForeign Representative of a registered bond have            shall invalidate the bond by perforation and there-\nbeen met, Article 32 shall apply to the resulting           upon return it. If the bond has been deposited, the\ndecision if                                                 Foreign Representative may request the depository\n1. the application to such court has been made       institution to take the aforesaid measures if their\nwithin the periods set forth in Article 31 (2), implementation is assured. The Foreign Represent-\nfirst sentence;              ·                   ative shall notify the Examining Agency, the\nregistrant, the issuer and the trustees and paying\n2. the proceeding has been directed against          agents of the measures taken.\nthe issuer as a party in interest;\n(2) Upon the expiration of three months from the\n3. tbe issuer as well as the trustees and            receipt by the registrant of the decision of the\npaying agents have been given an oppor-         Foreign Representative denying validation or, if\ntunity to make a statement and to submit         the receipt cannot be established, within six months\nevidence; and                                    from the despatch of the decision, the Foreign\n4. Article 24 (1) concerning the registrant's       Representative shall request the registrant to sub-\nburden of proof has been applied at least       mit evidence showing that he has availed himself\nmutatis mutandis.                                of a legal remedy allowed by this Law, unless the\n(2) The Foreign Representative is authorized             Foreign Representative knows already that the\nand bound to accept service on behalf of the                registrant has availed himself of such a remedy.\nlf the registrant fails to comply with this request\nissuer in such proceeding as long as the issuer has\nnot appointed an agent in the Country of Oftering           within further four months and if the Foreign\nauthorized to accept service.                               Representative during this period does not learn\nthat the registrant has availed himself of a legal\n(3) In a case within paragraph (1), neither the          remedy, the Foreign Representative may consider\nForeign Representative nor the issuer inay object           his decision as binding. When the aforesaid request\nto the exercise of jurisdiction by the courts of the        is made upon the registrant, he shall be informed\nCountry of Offering.                                        of this consequence of a failure to comply therewith.\n(3) lf the Foreign Representative, when notifying\nArticle 34                         the registrant of the decision denying validation\nContractual Arbitration Boards                 (Article 28 (2), first sentence), has requested the\nregistrant to submit evidence showing that he has\nArticle 33 shall apply mutatis mutandis to pro-          availed himself of a legal remedy allowed by this\nceedings in arbitration to which the registrant and         Law, and if the registrant fails to comply with such\nthe issuer have submitted.                                  request, the Foreign Representative may, upon the\nexpiration of seven months from the receipt by the\nregistrant of such decision, consider the decision\nArticle 35                         as binding, unless he has otherwise learnt that the\nStatutory Arbitration Boards                 registrant has availed himself of a legal remedy;\nparagraph (2), third sentence, shall apply mutatis\n(1) For the purpose of reviewing decisions of the        mutandis.\nForeign Representatives denying validation, arbitra-\ntion boards are established.                                   (4) The registrant, if so requested by the Foreign\n,                                  Representative, shall inform the latter of the state\n(2) The Federal Government shall, by Ordinance,          of the proceeding instituted by him by means of a\nprovide for the organization, the procedure, the            legal remedy and shall submit to him documentary\nv:enue (jurisdiction) and the composition of the said       evidence of the result of such proceeding. lf the\narbitration boards. Arbitration boards need not be          registrant does not comply with such request within\nset up as f ar as there is no need for them in a            a reasonable time allowed him, the Foreign Repre-\nCountry of Offering.                                        sentative may consider his decision as binding.\n(3) Review of a decision of the Foreign Represent-       When the aforesaid request is made upon the\native denying validation may be applied for by              registrant, he shall be informed of this consequence\nthe registrant with the arbitration board established       of a failure to comply therewith.\nunder paragraph (1) within the periods specified               (5) Paragraph (4) shall not apply in cases where\nin Article 31 (2), first sentence. The arbitration          the registrant has made application to the Chamber\nboards may establish their own procedure, applying          for the Settlement of Securities or to a Statutory\nArticle 31 mutatis mutandis, except where an                Arbitration Board or where the Foreign Represent-","314                                 Bundesgesetzblatt, Jahrgang 1953, Teil II\native is otherwise able, especially by inquiry from              4. by virtue of an uninterrupted dlain of\nthe issuer, to inform himself of the state of the                    private law acquisitions of title going back\nproceeding without the registrant' s cooperation.                    to a person who was the owner or co-owner\n(6) The Foreign Representative may not take the                   on 1 January 1945 or has become owner\nmeasures described in paragraph (1) if the bond                      or co-owner in accordance with No. 2 or\nhas been registered again with another Foreign                       No. 3; the chain is deemed to be inter-\nRepresentative or the Examining Agency pursuant                      rupted if an acquisition of title rests on\nto Article 21 (4) or Article 37 (3). In this case,                   the provisions concerning acquisition as\nsolely the Representative or Agency with whom                        purchaser in good faith.\nor which the renewed registration has been made,             (2) As lawful acquirer of a foreign currency bond\nmay take the measures described in paragraph (1).        the validation of which is demanded pursuant to\nArticle 3 (tJ No. 2 is also considered a person for\nwhom, or for whose predecessor in title, the bond\nPART III                         has been held in deposit without interruption from\n1 January 1945 or earlier until the registration by\nRegistration with the Examining Agency              credit institutions within the area of applicability\nArticle 37                         of this Law. If the bond was held in deposit for\nmore than one person, each of them is considered\nRegistration, Registration Periods              as lawful acquirer thereof.\n(1) A foreign currency bond                               (3) As lawful acquirer of a foreign currency bond\nfor which a declaratory decree is demanded pur-\nt. validation of whidl is demanded on the         suant to Article 4 is considered the person who,\nground that it is a lawfully acquired bond      at the time of the loss, was the owner of the bond\n(Article 3 (1) No. 2) or is a restituted bond  within the meaning of paragraph (1), unless after\n(Article 3 (1) No. 3), or                       such owner another person lawfully acquired\n2. for whidl a declaratory decree (Article 4)      ownership of the bond in accordance with para-\nis demanded          ·                          graph (1 ). lf the bond was jointly owned, each\nshall be registered in writing for validation with        co-owner may register it also for the others.\nthe Examining Agency (Article 11 ).\nArticle 39\n(2) Tue registration must be made within the\nperiods specified in Article 21 (1) and (2). An                           Contents oi Registration\nextension of time pursuant to Article 21 (2) applies         (1) The registration shall set forth the name and\nonly to registrations pursuant to paragraph (1)           first name (the firm), the address and the occu-\nNo. 1.                                                   pation of the registrant. lf, in case of registration\n(3) Where registration of a bond was made with         by   an   agent,  these   data   cannot   be  obtained    or\na Foreign Representative and the validation has           could   be  obtained  only  with  considerable   difficulty,\nbeen denied by a final decision, such bond may            the   reasons   for  this  shall  be  stated,  as  well   as\nagain be registered for validation with the Examin- •     other   data  permitting  an  identification  of the  regis-\ning Agency if validation is now demanded under            trant  sufficient  for  the purposes    of this  Law.\nparagraph (1) No. t. Such registration must be made          (2} The exact characteristics of the bond, in\nwithin three months from the date on which the particular its serial number, shall be stated; as far\ndenial has become binding. The periods referred as this is not possible in the case of a bond for\nto in paragraph (2) do not apply to such renewed which a declaratory decree is demanded, the\nregistration unless validation had been denied in reasons for this shall be stated. Tue facts relevant\nthe previous proceeding on the ground that regis- to the registration shall be set forth, together with\ntration was made too late.                                an indication or submission of the evidence.\n(3) A registration not conforming, or not con-\nArticle 38                        forming fully, with the several requirements of\nLawiul Acquisition                      paragraphs (1} and (2). is nevertheless effecti ve if\nit sufficiently identifies the registrant and the\n(1) Lawful acquirer of a foreign currency bond         registered bond. This provision does not aff ect the\nthe validation of which is demanded pursuant to           registrant's obligation to supplement or to correct\nArticle 3 (1) No. 2 is the owner or co-owner              the registration.\n~hereof if he acquired ownership or co-ownership\n(4) The Examining Agency shall promptly notify\n1. on or before 1 January 1945, or                 the Foreign Representative, the issuer and the\n2. as the result of a transaction concluded        trustees and paying agents of the registration of a\nduring the period from 1 January 1945 to        bond, indicating its characteristics, in particular its\nand including 8 May 1945 at a stock             serial number, as exactly as possible. The registrant\nexchange or through banks, or                   shall submit with the registration the necessary\n3. as the result of legally effective action       copies thereof.\ntaken after t January 1945 by the govern-                                Article 40\nmental authorities of the area of appli-\ncability of this Law or by the Occupying                  Submission of the Registered Bond\nPowers of the Federal Republic of Ger-             (1) The foreign currency bond shall be submitted\nman y, or                                       with the registration to the Examining Agency","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                           315\nunless the registrant demands a declaratory decree      made if, considering Article 18, it was timely sub-\npursuant to Article 4. The Examining Agency takes       mitted to the Examining Agency which held itself\nthe bond into custody.                                  not competent.\n(2) The bond may also be deposited with a\nsuitable institution if arrangements have been made                            Article 43\nwhich assure that the bond will not be released\nwithout the consent of the Examining Agency and                       Withdrawal of Registration\nwill be delivered upon its request at any time\neither to such Agency or to another Examining                (1) The registrant may withdraw the registration\nAgency or a Foreign Representative designated by        only as long as the Examining Agency has not\nit. The registrant shall furnish with the registration  validated the bond {Article 44) and the Chamber\na certificate evidencing such deposit and such           for the Settlement of Securities has not passed upon\narrangements and showing the exact characteristics      the registration submitted to it (Article 45).\nof the bond, in particular its serial number.                (2) The Examining Agency shall notify of such\n(3) If the bond or the receipt specified in para-   withdrawal the Foreign Representative, the issuer\ngraph (2) is not submitted together with the regis-      and the trustees and paying agents and shall return\ntration, the Examining Agency shall request the          or cause the release of the bond, if it has been\nregistrant to make such submission within a             submitted. The withdrawal shall be promptly for-\n.reasonable period. Upon the expiration of such          warded to the Chamber for the Settlement of Se-\nperiod, the registration shall be submitted to the       curities if the registration had already been sub-\ncompetent Chamber for the Settlement of Securities       mitted to it.\n{Article 45), which shall deny the validation unless\nthe submission has been made prior to the decision.\nArticle 44\n(4) With the consent of the Bank Control Author-\nity, the Examining Agency may approve in appro-                   Validation by the Examining Agency\npriate cases a procedure deviating from paragraphs\n(1) Subject to Article 45, the Examining Agency\n{l) to {3), provided the validation will not be jeop-\nmay validate a bond registered pursuant to Ar-\nardized thereby. lt may make such approval subject\nto specified conditions.                                 ticle 37 (1) No. 1 if it considers the registration as\njustified on the basis of the requirements set forth\n(5) Article 23 (5) shall apply.                    in Article 3 (1) Nos. 2, 3, and if the registrant has\nmade the required proof by official documents from\nArticle 41                      the area of applicability of this Law or by state-\nments of credit institutions in the said area; Ar-\nEvidence                        ticle 25, paragraph 1 No. 1 of the Ordinance for\nThe registrant has to prove the requircmeats for    the Settlement of Securities of 19 August 1949 (Ge-\nthe validation of the registered bond or for the        setzblatt der Verwaltung des Vereinigten Wirt-\nissuance of a declaratory decree. lf he demands a         schaftsgebietes, page 295) and Article 3 of the Law\ndeclaratory decree, he has to show that the bond          Amending and Supplementing the Ordinance for\nhas been destroyed and the circumstances thereof,        the Settlement of Securities of 29 March 1951 {Bun-\nor that neither he or any other person entitled to       desgesetzblatt I, page 211) apply mutatis mutandis.\nregister is able to submit it in the examination            (2) Upon such validation, the Examining Agency\nproceeding. In all other respects, Article 24 applies    shall issue to the registrant a validation certificate,\nmutatis mutandis.                                        which shall set forth the exact characteristics of the\nbond, in particular its serial number. The said certif-\nArticle 42                     icate shall also indicate the provision and the evi-\nLack of Competency of the Examining Agency          dence on the basis of which the Examining Agency\nconsidered the validation as justified and sball state\n{1) If the Examining Agency is not competent in     that the issuer may protest against the certificate\nrespect of a registration received by it, it shall      {Article 46) within one month.\ntransfer it to the competent Examining Agency or\nForeign Representative. Before such action is taken,         (3) The issuer shall be sent a copy of the vali-\nthe registrant shall be given an opportunity to make     dation certificate by registered mail with return\na statement on this point. The transfer shall not be     receipt. The Foreign Representative and the trustees\nmade if the registrant objects to it within a reason-    and paying agents shall be notified of the vali-\ndation.\nable period allowed him by the Examining Agency;\nin such case the Examining Agency shall submit\nthe rfgistration to the competent Chamber for the                                Article 45\nSettlement of Securities (Article 45), which, subject\nto Article 47 (4), second sentence, shall deny vali-          Submission to the Chamber for the Settlement       •\ndation and shall inform the registrant of the possi-                           of Securities\nbility of renewed registration with the competent\nForeign Representative (Article 21 (3)).                    Upon completion of the necessary investigation\nthe Examining Agency shall submit the registration\n{2) The decision of the Examining Agency con-       together with a statement of its own views to the\ncerning the transfer is not subject to any review.       Chamber for the Settlement of Securities for the\nThe registration is deemed to have been timely           district in which the issuer has its seat,","316                                  Bundesgesetzblatt, Jahrgang 1953, Teil II\n1. if it concludes that the requirements for a       the decision shall set forth, as exactly as possible,\nvalidation pursuant to Article 44 (1) are         the characteristics of the bond, in particular its\nnot met, or                                       serial number.\n2. if, in the case of Article 44 (1), it does not        (6) If the Chamber finds that the requirements\nitself allow validation, or                       for validation or for a declaratory decree are not\nmet, it shall deny the validation or the decree.\n3. if a declaratory decree is demanded, or\n(7) lf a protest was filed and the Chamber denies\n4. if several registrations have been filed in       validation (paragraph (6)), it shall at the same time\nrespect of the same bond or if a declara-         cancel the validation certificate issued by the\ntory decree was previously issued in re-          Examining Agency. If the protest is found to be\nspect of the registered bond, _or                 unjustified, it shall be rejected.\n5. if the Bank Control Authority has ordered             (8) The decision of the Chamber shall set forth\nsuch submission, or                               reasons in writing; a declaratory decree shall\ninclude in such reasons a statement of time, cir-\n6. if the registration concerns the own hold-        cumstances and place of the loss of the bond. Tue\nings o'f the credit institution that acts as      decision shall be served upon the registrant and the\nExamining Agency.                                 issuer. The Foreign Representative, the Examining\nAgency and the trustees and paying agents shall\nbe notified of the decision. If the decision becomes\nArticle 46                           final, the Examining Agency shall be so notified.\nProtest of the Issuer                        (9) In respect of appeals from the decision of the\nChamber, Article 31 (6) applies mutatis mutandis.\n(1) If the Examining Agency has validated a\nbond the issuer may protest such a decision. The\nprotest must be filed in writing with the Examining                                   Article 48\nAgency within one month; this period runs from\nthe receipt by the issuer of the decision.                                   Implementation of Decislon\n(2) The Examining Agency           shall submit the          (1) lf a bond has been validated by a decision no\nprotest together with the necessary documents and            longer subject to review, the Examining Agency\nwith a statement of its own views to tbe Chamber             shall direct the bond to be entered in the official\n(Article 45). lt shall notify the Foreign Represent-         register (Article 12) and shall return it or cause its\native, the registrant and the trustees and paying          . release.\nagents of the filing of the protest. The issuer shall           (2) If  validation has been denied and the decision\nfile the necessary copies with this protest.                has become final, the Examining Agency shall take\n(3) The issuer may withdraw the protest as long\nthe measures specified in Article 36 (1), as soon\nas it has not been passed upon; paragraph (2),               as it appears that the bond has not been registered\nsecond sentence, and Article 43 (2), second sen-             again pursuant to Article 21 (3) and that timely\ntence, apply mutatis mutandis.                               registration pursuant to the said provision is no\nlonger possible.\n(3) If the proceeding before the Chamber has\nArticle 47                          been discontinued in view of withdrawal of the\nProcedure and Decision of the Chamber                registration, the Examining Agency shall return or\ncause the release of the bond.\n(1) The Chamber for the Settlement of Securities\ndecides in all cases conceming registration and\nprotests submitted to it by the Examining Agency.                                     PART IV\n(2) Articles 41, 42 apply mutatis mutandis to the                         Duplicated Registrations\nproceedings before the Chamber.\n(3) If a registration or a protest is withdrawn,                                   Article 49\nthe Chamber discontinues the proceeding.\n(1) If, in respect of the same bond, validation as\n(4) If the Chamber finds that a registration which       well as issuance of a declaratory decree is\nrequests validation pursuant to Article 37 (1) No. 1        demanded, the following shall apply:\nmeets the requirements of Article 3 (1) Nos. 2, 3,\nit shall validate the bond. If the registration does                 1. lf both registrations are pending in the\nnot meet the validation requirements of Article 3 (1)                    same agency, they shall be passed upon\nNos. 2, 3, but those of Article 3 (1) No. 1, the Chamber                 together.\nmay validate the bond. The decision shall set forth                  2. If the registrations are pending in different\n• the exact dlaracteristics of the bond, in particular                     agencies, processing of the registration\nits serial number.                                                       demanding a declaratory decree shall be\n(5) lf the Chamber finds that a registration which                    deferred until a final decision has been\ndemands a declaratory decree pursuant to Ar-                             rendered on the registration demanding\nticle 37 (1) No. 2 is justified pursuant to Article 4,                   validation.\nit shall render a decision holding that the registrant               3. No declaratory decree may be issued after\nis considered as the lawful acquirer of the bond;                       the bond has been validated by a final","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                          317\ndecision or a final decision pursuant to     this Law as Rrovided in paragraph (2), if those\nArticles 31, 33 to 35 has been rendered      entitled to register them ha.ve failed, without their\nholding that the rlquirements for vali-      own fault, to make registration within the periods\ndation of the bond have been met.            set forth ;n Articles 21, 37 1 no declaratory decree\n(2) If the processing of a registration demanding    may be demanded.\na declaratory decree has been deferred pursuant to         (2) Bonds to be validated pursuant to para-\nparagraph (1) No. 2, the registrant, upon his appli-    graph (1) shall be registered with the Examining\ncation, shall be made a party to the proceeding         Agency. Such registration shall be submitted to the\nconcerning validation.                                  Chamber for the Settlement of Securities in each\n(3) Paragraphs (1) and (2) apply mutatis mutandis    case. Such bonds may be validated only if the denial\nif several registrations demanding declaratory          of validation would effect extraordinary hardship\ndecrees in respect of the same bond are pending.        upon the bond owner, taking into consideration\nlt such registrations are pending in the Chamber        also the circumstances of the issuer; the possibility\nfor the Settlement of Securities as well as in the      of claiming under Article 52 shall not as such\nappellate court, those pending in the appellate         exclude a finding of extraordinary hardship. Such\ncourt shall be passed upon first. If a declaratory      validation may not be granted after rights consti-\ndecree has been issued and has become final, no         tuting security for the bonded obligations have\nfurther declaratory decree may be granted for the       been released pursuant to Articles 59 and 61. In\nsame bond.                                              all other respects, the provisions of this Law applic-\nable to timely registrations shall apply mutatis\n(4) Unaffected remain                                mutandis to the registration and the examination\n1. the rights and duties between several         proceeding as weil as to the validation.\nregistrants pursuant to provisions of the       (3) If a bond thus subsequently registered has\ngeneral law, and                             been validated by a final decision, the legal con-\n2. the power of any agency competent under       sequences set forth in Article 50 (1) and (2), second\nthis Law to defer a proceeding until a       sentence, shall be deemed not to have occurred in\nfinal dec1sion of an otherwise competent     respect of such bond.\ncourt has been rendered determining the\nright to the bond as between several regis-                         Article 52\ntrants.\nCompensation for Bonds whidt have become invalid\nPART V                            (1) The lawful holder (der zur Verfügung bered1-\nBonds which have not been validated,              tigte Inhaber) of a bond which has become invalid\nClaims for Compensation                  pursuant to Article 50 (1) or Article 50 (2), second\nsentence, shall have the right to claim compen-\nArticle 50                      sation from the issuer and any third party liable\ndirectly as a debtor for the bonded obligation of\nInvalidatlon of Bonds which have not been valldated    the issue concerned, if the bond would have been\n(1) Bonds which have not been registered for         validated upon timely registration by the holder or\nvalidation before expiration of the applicable regist-   a predecessor in title and the failure to register it\nration periods {Article 21 (1) second sentence and (2),  timely was not due to such person's own gross\nand Article 37 (2)) or which have been withdrawn from   negligence. This right entitles the said holder to\nregistration and have not been re-registered before     the same performance (Leistungen) to which the\nexpiration of the req1stration periods become in-       issuer and the third parties would have been obli-\nvalid upon such expiration.                             gated had the bond been validated, but he shall\n(2)  Bonds which have been registered for vali-      have no right in or to security which has been\ndation within the said periods and have been            granted for the foreign currency bond or whic:h may\nfinally denied validation, become invalid upon          be granted for securities issued in exc:hange thereof.\ninvalidation pursuant to Article 36 (1), 48 (2).        The claim for compensation may not be asserted\nBonds which had not been submitted pursuant to          to the prejudice of holders of validated foreign\nArticles 23, 40, or which cannot be invalidated for     currency bonds.\nsome other reason, become invalid at the date at           (2) The said right to compensation can be asserted\nwhkh the Foreign Representative or the Examining        only after it has been finally adjudicated that the\nAgency would be authorized to invalidate them           conditions on which it depends exist. Exclusive\npursuant to the provisions referred to in the first     jurisdiction to make such adjudication shall rest\nsentence of this paragraph, but in no case before       with the Chamber for the Settlement of Securities\nthe expiration of the applicable registration periods   of the district in whic:h the issuer has its seat.\n(paragraph (1 )).                                       Such adjudication shall be made only if appJied for;\n(3) Article 6 (1) remains unaffected.                the procedural provisions of Articles 37 to 48 shall\napply mutatis mutandis. If the right is asserted\nArticle 51                      against a third party, such party shall be a party\nto the proceeding, and shall be entitled to take\nSubsequent Validation                 appeals, to the same extent as the issuer.\n(1) Bonds which have become invalid pursuant to         (3) The issuer and the third parties mentioned in\nArticle 50 (1), or A1ticle 50 (2), second sentence,     paragraph (1) shall provide appropriate reserves for\nmay be subsequently registered for validation under     contingencies pursuant to paragraph (1).","318                                Bundesgesetzblatt, Jahrgang 1953, Teil II\nArticle 53                                               PART VI\nClaims for Compensation under Declaratory Decrees\nCollective Validation\n(1) ßy virtue of a declaratory decree (Articles 4\nand 47 (5)) the registrant has the claim to receive\ncompensation from the issuer and any third party                                Article 55\nliable directly as a debtor for the bonded obligation             Application for Collective Validation\nof the issue concerned. Article 52 (1), second and\nthird sentences, shall apply to this right. This right      (1) Collective validation (Article 13) may take\nmay be asserted only after the bond to which such        place only upon application of the issuer. Such\ndecree relates has become invalid pursuant to Ar-        application shall be filed in writing with the Federal\nticle 50, or, if the decree does not specify an          Minister of Finance within three months from the,\nindividual bond, after the registration periods          effective date of this Law. After the expiration of\napplicable to a bond of this type (Article 21 (1),       this period, the application may be made only if\nsentence 2, and (2), Article 37 (2)) have expired.       earlier filing could not r't!asonably be effected. The\n(2) The issuer and the third parties mentioned        duty of the i$suer to designate an Examining Agency\nin paragraph (1), first sentence, are entitled to        putsuant to Artide 11 remains unaffected.\nhave the total amount of their obligations under            (2) An application pursuant to paragraph (1) shall\nparagraph (1) reduced to the extent that they have       set forth the reasons supporting it and submit the\nto make payments to holders of foreign currency          necessary documents and evidence. In particular,\nbonds although declaratory .decrees bad been             it shall set forth at what places the bonds are\nissued for the bonds. The reductions shall be            believed to be held.\napplied in the first place to claims for compensation       (3) The Fede·ral Minister of Finance shall notif y\nunder such declaratory decrees as describe the lost      the Foreign Representative and the Examining\nbond by its general characteristics only, and other„     Agency of the serial numbers of the bonds covered\nwise in equal proportions. To the extent that the        by an application for collective validation pursuant\nissuer or the third parties are enriched by the          to paragraph (1). As long as such application is\neffects of this Law, no such reductions shall be         pending, registrations demanding validation of bonds\nmade.                                                    covered by it may not be denied and declaratory\n(3) The issuance of a declaratory decree does not     decrees may not be issued in respect of such bonds.\nbar the subsequent validation of the bon_d to which\nit relates or the assertion of the claim for compen-\nsation under Article 52.                                                        Article 56\n(4) More detailed provisions concerning the rights                         Investigations\nand powers set forth in paragraphs (1), (2) will be\nmade by a subsequent law. Until issuance of such            (1)  In preparation of the decision concerning an\nlaw, the issuer and the third parties mentioned in       application for collective validation, the Federal\nparagraph (1), first sentence, shall not be bound to     Minister of Finance may cause such investigations\ndischarge the obligations arising from declaratory       to be made as he sees fit and may request the\ndecrees.                                                 issuer to submit documents or other evidence.\n(2) By public notices or in some other appropriate\nArticle 54                         manner, the said Minister shall invite the sub-\nCompensation Claims for Amortization Bonds           mission in writing within a stated period of reports\nconcerning lost foreign currency bonds; such reports\n(1) The persons specified in Article 6 (1) Nos. 2    shall indicate the characteristics of the bonds as\nand 3, whose foreign currency bonds are deemed           exactly as possible, including the serial numbers.\ninvalid, shall have the right to receive compensation     If such notice appears inappropriate, it may be\nhom the issuer and any third party liable directly      omitted.\nas a debtor for the bonded obligation of the issue\nconcerned, if they could have demanded validation           (3) In investigations pursuant to paragraph (1),\nof the bonds or a declaratory decree under the           the said Minister may request official assistance\nprovisions of this Law otherwise applicable. Tue         from the agencies competent under this Law to\naforegoing provision shall not apply as far as such      the same extent as a Foreign Representative and\npersons have already received the consideration          may obtain the assistance of the Examining Agency.\nowed them or as some other reason bars their             He may delegate the independent preparation of\nrights under the bonds.                                  the decision to subordinate Federal agencies.\n(2) Article 53 applies mutatis mutandis to the\naforesaid claim; the claim may not be asserted                                 Article 57\neither to the prejudice of those entitled under                Decision concerning Collective Validation\nArticles 52, 53, and it cannot be exercised to the\nextent of entitling the issuer or the third party to        (1) The decision concerning an application for\nreductions pursuant to Article 53 (2). No foreign        collective validation is made by the Federal\ncurrency may be paid in discharge of the obligation.     Minister of Finance in the exercise of his sound\n(3) More detailed provisions concerning the           discretion, in conjunction with the Federal Minister\nrights under paragraphs (1), (2) will be made by         of JusUce.\nthe law referred to in Article 53 (4). Article 53 (4),      (2) Bonds reported as lost pursuant to a notice\nsecond sentence, shall apply mutatis mutandis.           under Article 56 (2) shall not be included in the","Nr. 14 - Tag der Ausgabe: Bonn, den 20. August 1953                          319\ncollective validation, unless the report of loss is          (2) The court shall cause copies of such applica-\nobviously unfounded or the interests of the persons       tion and of any supporting statement to be served\naffected have been otherwise protected.                   upon the trustees and paying agents as well as any\n{3) Notice of the decision granting the application    third parties whose interests might by affected by.\nin whole or in part shall be given to the issuer,         the release and shall give them an opportunity to\nthe Foreign Representative and the Examining              submit a statement. The issuer shall submit the\nAgency as well as the trustees and paying agents.         necessary copies with his application.\nBonds validated by such decision shall be entered            (3) The application may be granted only insofar\nin the official register (Article 12). The Federal        as the issuer proves that the requirements for the\nMinister of Finance or the agency designated by           demand for release are met.\nhim shall cause the publication to be made.\n(4) A decision granting in whole or in part an\nArticle 58                        application pursuant to paragraph (1) may be\nlmplementing Provisions                  rendered only after the expiration of three months\nfrom the service of the application upon the trustees,\nThe Federal Governmeht may implement by                paying agents and the third parties mentioned in\nOrdinance the procedure to be followed under              paragraph (2), unless these have expressly waived\nArticles 55 to 57.                                        compliance with this provision. The decision shall\nset forth in detail the rights to be released or the\nPART VII                          obligations to be cancelled and the names of the\nRelease of Collateral                   grantors or obligors.\nArticle 59                           (5) The decision of the Chamber shall be served\nupon the issuer, as well as on the trustees, paying\nRequirements of Release                  agents and the third parties mentioned in para-\n(1)   lf, pursuant to the conditions controlling       graph (2).                            ·\nbonds of a certain type, the complete or partial             (6) The issuer, as well as the trustees, paying\nrelease of the rights constituting security for the       agents and the third parties mentioned in para-\nbonded obligations may be demanded upon payment           graph (2) may take an appeal from the decision of\nor deposit of the amount owed by the issuer or of         the Chamber to the Oberlandesgericht competent\nsome part thereof, the computation of the amount          pursuant to Article 34 of the Ordinance for the\nto be paid or deposited shall not take into account:      Settlement of Securities. The appeal must be sub-\n1. foreign currency bonds which have become       mitted to the Chamber for the Settlement of Securities\ninvalid pursuant to Article 50,               within a period of three months, either by filing a\n2. foreign currency bonds deemed invalid          written petition or by having an oral petition\npursuant to Article 6.                        recorded by the clerk of the Chamber. The said\n(2) Paragraph (1) shall apply in particular to the     period runs from the service of the decision upon\ncancellation or release of mortgages on immovables        the appellant; if the appeal is not taken within such\nor ships, the re-conveyance of property conveyed          period, restitutio in integrum will not be granted.\nas collateral, and the release of guarantors. It shall    If the appeal is taken by filing a written petition,\napply mutatis mutandis if the issuer or a third party     the petition must be signed by an attorney-at-law.\nhad promised to refrain from encumbering his              The appeal may be based upon new facts and new\nproperties or any part thereof, or to encumber            evidence. In all other respects, paragraphs (2)\nthem only under certain conditions, before the            and (3) shall apply mutatis mutandis to the procedure\ncomplete or partial redemption of the bonds.              on appeal. No further appeal shall be allowed.\n(3) Upon payment or deposit of an amount\ncomputed in accordance with paragraph (1), the                                  Article 61\nrelease or cancellation of the rights and obligations\nmentioned in paragraphs (1) and (2) may be                         Effect of Decision Granting Release\ndemanded only if such payment or deposit conforms\nlf an application pursuant to Article 60 has been\notherwise to the conditions controlling the bonds.\ngranted in whole or in part and the decision has\nThe release or cancellation may not be denied for\nbecome final, such decision takes the place of the\nthe reason that the issuer or a third party has\nconsent of any cl'editor, trustee, paying agent or\nfailed to meet deadlines or dates, if such failure\nother person otherwise required for the release or\nwas solely due to provisions of law, to the war, or\ncancellation of the rights and obligations specified\nto other circumstances beyond the control of the\nin Article 59.\nissuer or third party.\nArticle 60                                              PART VIII\nApplication to the Court for Release\nCosts\n( 1) lf a demand for release made under the\nconditions of Article 59 is not complied with, the                              Article 62\nissuer may apply for a release or cancellation of\nCosts of Proceedings\nthe rights and obligations specified in Article 59 (1)\nand (2) to the Chamber for the Settlement of                 (1) No costs shall be charged for proceedings\nSecurities for the district in which the issuer has      before the Foreign Representative and the Examin-\nits seat.                                                ing Agency.          ·","320                                  Bundesgesetzblatt, Jahrgang 1953, Teil II\n(2) For proceedings before the Chamber for the          proceedings before the Foreign Representative or\nSettlement of Securities pursuant to Article 31,           before the Chamber shall be reimbursed only if\ncosts shall be charged to the registrant only if the       the Foreign Representative or the Chamber\n·application for court review has been rejected or        determines that they are reimbursable; such determi-\nwithdrawn.                                                nation shall be made upon application of the regis-\n(3) For proceedings before the said Chamber             trant, if the retention of legal counsel was necessary\npursuant to Article 47, costs shall be charged to          in the circumstances of the case. Expenses incurred\nthe registrant only if                                    by the registrant in connection with an unsuccess-\nful legal remedy (Article 29) or appeal availed of\n1. validation is denied and the decision deny-    or taken by him shall not be reimbursable by the\ning validation determines that the regis-      issuer.\ntration was obviously unfounded, or\n2. the issuance of a declaratory decree is           (4) The registrant shall not be entitled to reim-\ndenied, or                                     bursement of expenses pursuant to paragraph (3)\n3 the proceedings are discontinued owing to              1. if he has withdrawn the registration, or\nwithdrawal of the registration.                       2. in cases where, pursuant to Article 62 (3),\nFor such proceedings costs shall be charged to the                   he is to be charged costs or where he could\nissuer only if a protest filed by him is rejected or,                be so c:harged but for Article 62 (8), or\nowing to withdrawal of the protest, the proceedings              3. if the Foreign Representati ve has determined\nare discontinued.                                                    in the decision denying validation that the\n(4) Paragraph (3), first sentence, Nos. 1, 3 applies              registration was obviously unfounded and\nmutatis mutandis to proceedings before the said                      such decision has become binding, or\nChamber pursuant to Article 52 (2).                              4. if the determination specified in No. 3 has\nbeen made in a decision rejecting a legal\n(5) If costs are to be charged for a decision of\nremedy availed of by the registrant and\nthe said Chamber pursuant to paragraphs (2) to (4),\nsuch decision has become final.\nthe full statutory fee (Article 26 of the Kostenord-\nnung) shall be charged.                                      (5) Tue competent Foreign Representative may\n(6) For proceedings before the Chamber pursuant        pay for the account of the issuer any amounts owed\nto Article 60, the issuer shall be charged the full       by him pursuant to paragraphs (3), (4) and may\nstatutory fee (Article 26 of the Kostenordnung).          request reasonable advance payments from the\nissuer for this purpose. Tue issuer may not question\n(7) The fees for appeal proceedings shall be           any payments made by the Foreign Representative\ndetermined pursuant to Article 123 of the Kosten-         if he has generally agreed to their amount or if\nordnung. In each case, however, the value of the          they conform to rules established by an Ordinance\nright which is the subject of the appeal shall            pursuant to Article 65.\ncontrol the determination of the fee.\n(6) Upon request, the issuer shall reimburse the\n(8) If the registration concerns the validation of     trustees and paying agents for all exp~nses neces-\na restituted bond (Article 3 (1) No. 3) or. a             sarily incurred by them by virtue of any proceeding\ndeclaratory decree in respect of a bond confiscated       under this Law. Paragraph (5) shall apply mutatis\non or before 8 May 1945, the registrant shall not         mutandis.\nbe c:harged costs in any case.\n(7) Expenses shall be reimbursed in the currency\n(9) Tue value of the matter is determined on the       in which they were incurred.\nbasis of the circumstances existing on the Opening\nDate (Article 19), in a proceeding pursuant to\nArticle 60 on the basis of those existing at the time                             Article 64\nof the application.                                                           Administrative Fee\n(10) Tue provisions concerning the advance of             (1) As a contribution to the expenditure resulting\ncosts or the furnishing of security for costs shall       from the impJementation of this Law, the issuers\napply only in proceedings pursuant to Article 60.         shall pay a reasonable administrative fee. Tue\nFederal Government shall establish the amount\nArticle 63                        thereof by Ordinance. Tue amount shall be measured\nby the face amount of the issued foreign currency\nReimbursement of Expenses                  bonds; bonds amortized prior to the effective date\n(1) Tue issuer shall reimburse the costs of publi-     of this Law, or deemed invalid by virtue of Ar-\ncations under Article 11 (3) and Article 12 (2).          ticle 6, shall be deducted.\n(2) The issuer shall reimburse the Examining              (2) The administrative fee shall be levied by the\nAgency for expenses incurred by it in the discharge       Federal Minister of Finance or the agency de-\nof its function as far as such expenses are reasonable.   signated by him. lt shall be paid to the Bundeshaupt-\n(3) Upon request, the issuer shall reimburse the       kasse. One third of the fee paid by each issuer shall\nregistrant for the expenses, especially bank and          be paid over to the Land in which the issuer has\nbroker fees, necessarily incurred by him by virtue        its seat.\nof the registration and the examination proceeding           (3) The administrative fee shall be collected\nincluding any review proceeding. However, fees            pursuant to the provisions of the Reichsabgaben-\nof legal counsel retained by the registrant in            ordnung and the regulations thereunder.","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                              321\nArticle 65                                   preceding sentence shall be subject to a\nperiod of limitation of action of one year\nImplementing Provisions\nbeginning with the publication of the\nThe Federal Government may, by Ordinance,                         validated bond in the official register (Ar-\nissue provisions implementing Articles 63, 64; in                   ticle 12);\nparticular, such Ordinance may establish principles\n2. Articles 54 to 58, on supervision of the\nconcerning the expenses reimbursable by the issuer,\nissuers and Examining Agencies by the\nas weil as detailed rules concerning the effectuation\nBank Control Authorities and on the\nof the payments to be made by the issuer and the\nfunctions of the latter in the examination\nlevy of the administrative fee.\nproceedings; Article 59, paragraph 7, on\nfees to be charged in proceedings under\nPART IX                                     Article 51 of the said Ordinance; and Ar-\nticle ·34, paragraphs 1, 2, and 5, on appeals\nSupplementary Provisions                              from a decision pursuant to said Article 57.\nThe appeal periods for the Bank Control\nArticle 66                                  Authorities (Article 54, paragraph 3, of the\nsaid Ordinance) run from the service of\nBinding Effect of Decisions\nthe decision upon the issuer unless the\nFinal decisions rendered pursuant to this Law                    Bank Control Authority had previously\nconcerning validation of a foreign currency bond                    become a party to the proceeding.\nor determination of lawful acquisition of such a\nbond shall be binding on any court or administrative\nArticle 70\nagency, unless this Law provides otherwise.\nService of Documents\nArticle 67                           (1) Any service to be effected pursuant to this\nLaw or provisions issued thereunder, may be made\nExclusive Jurisdiction\nby delivering the documents to be served to the\nThe (:ompetencies (jurisdictions} established by      person concerned against his dated and signed\nthis Law are exclusive ones.                             receipt on a carbon copy of such document. The\nsame applies to notification by registered letter\nwith return receipt.\nArticle 68\n(2} Service abroad may be effected by registered\nLiens and Other Rights of Third Parties            letter with return receipt if the State in whose\nin Foreign Currency Bonds                 territory the service is to be made consents.\n(1) Lienors and other persons having rights in\nrem may register a foreign currency bond on behalf                                Article 71\nof the Jawful acquirer (Article 38) and may, in\naddition to him, participate in the examination                            Chambers for Validation\nproceeding and take. appeals independently.\n(1) For the purposes of this Law, the term\n(2} Liens upon, and other rights of third parties in, „ Chamber for the Settlement of Securities\" means\nforeign currency bonds shall attach to the claims        the Chambers for the Settlement of Securities\nfor compensation pursuant to Articles 52 to 54.          established under Article 29 of the Ordinance for\nthe Settlement of Securities of 19 August 1949.\nArticle 69                          (2} The Ministry of Justice of the respective Land\nmay transfer to one such Chamber the functions\nApplicable Provisions of Other legislation\nand powers of decision under this Law of several\n(l} Unless otherwise provided in this Law, the        Chambers.\nprovisions of the Law concerning Non-Contentious\nJurisdiction (Gesetz über Angelegenheiten der frei-                               Article 72\nwilligen Gerichtsbarkeit) shall be applicable mutatis           Powers of the President of the Chamber\nmutandis to the court proceedings.\n(1) The President of the Chamber for Validation\n(2} In addition, the following provisions of the      may, without the associate Judges,\nOrdinance for the Settlement of Securities shall                 1. render decisions and make other orders\napply mutatis mutandis:                                             under Articles 31 (4), fourth sentence, 47 (3),\n1. Article 53, paragraphs 1 and 2, on right to               49 (1), Nos. 1 and 2, and 10;\ninformation. If a foreign currency bond              2. direct that evidence be submitted, and\ninvoluntarily lost by a former owner has\nbeen validated, such former owner may                3. validate a bond submitted in accordance\nrequest from the issuer information show-                with Article 40.\ning for whom and by which agency the             (2) In the cases specified in paragraph (1 ), the\nbond has been validated; Article 53, para-    decision as to whether the associate judges shall\ngraph 4. of the said Ordinance shall apply    participate, is left to the sound (pflichtmäßiges)\n, mutatis mutandis. The right under the         discretion of the President.","322                                                 Bundesgesetzblatt, Jahrgang 1953, Teil II\nArticle 73                          Country of Oftering concerned has consented to the\nSeveral lssuers                             proposed provisions. The same applies in respect of\namendment or repeal of such Ordinances. Any addi-\n(1) If bonds have been issued by more than one                         tional obligation resulting from an Agreement con-\nissuer, the issuers shall jointly designate the                          cluded with the Country of Offering concerning\nExamining Agency (Article 11).                                           issuance and contents of the Ordinances remains\n(2) If the issuers cannot agree on the designation                     unaffected.\nof an Examining Agency, such designation shall be                            (2) Where, under the provisions of this Law, any\nmade by ·the Bank Control Authorities concerned.                          action requires the cooperation of the Country of\n(3)  Whenever, under the provisions of this Law,                       Oftering, the cooperation of associations of such\nvenue depends on the seat of the issuer, the seat                         country which represent the interests of creditors\nof the Examining Agency shall be controlling in                           of German foreign currency bonds shall suffice if\nthe cases of paragraphs (1) and (2).                                      the Government of the State considered as the\nCountry of Offering consents. Such consent may be\nArticle 74                         considered as granted if such Government does not\nobject within three months from the communication\nForeign Currency Bonds of the Gennan Reich                           of the proposed action.\nand of the Former State of Prussia\n(1)  For the purpose of this Law, the Germari                                                 PART X\nFederal Republic shall be deemed to be the issuer\nof the foreign currency bonds issued by the former                                          Final Provisions\nLand Prussia, as long as no other provision is made.\n(2) In respect of foreign currency bonds issued                                              Article 78\nby the German Reich or the former Land Prussia,                                                Land Berlin\nthe Bundesschuldenverwaltung (Federal Debt Ad-\nministration) shall be the Examining Agencyi the                             (1) This Law shall be applicable in Berlin (West),\nfunctions of the Bank Control Authority shall be                          subject to Articles 13 and 14 of the Law concerning\nexercised by the Federal Minister of Finance. In                          the Position of Land Berlin in the Financial System\nrespect of venue of the Chamber for the Settlement                        of the Federation (Third Transition Law) of 4 January\nof Securities, the seat of the Bundessdmldenverwal-                       1952 (Bundesgesetzblatt, I, page 1).\ntung shall be controlling.                                                   (2) For such application, ref erences in this Law\nto the Ordinance for the Settlement of Securities of\nArticle 75                        19 August 1949 and to the Law Amending and\nImport and Export Provisions                                 Supplementing the Ordinance for the Settlement\nof Securities of 29 March 1951 shall be deemed to\nGerman and foreign provisions restricting, or                          relate to the corresponding Berlin Laws of 26 Sep-\nimposing the requirement of a license or special                          tember 1949 (Verordnungsblatt für Groß-Berlin, I,\nconditions in respect of, payments or the import,                         page 346) and of 12 July 1951 (Gesetzes- und Ver-\nexport, transfer or redemption of securities remain                       ordnungsblatt für Berlin, page 530).\nunaffected.\nArticle 76                                              Article 79\nImplementlng Provisions                                                       Effectlve Date\n(1) The Federal Government may, by Ordinance,                            This Law shall become effecti ve on the first day\nadapt the proceedings under this Law to the pro-                         of the calender month following its pr_omulgation.\nvisions, customs and usages in effect with regard to\nbonds of a certain type, or in the Country of Offer-\ning, or in the country in which the registrant has                           The above Law ist hereby promulgated.\nbis domicile, seat, residence or place of business.                        Bonn, 25 August 1952.\n(2) No provision issued pursuant to paragraph (1)\nmay change the requirements for validation of a                                      The Federal President\nbond or for the granting of a declaratory decree,                                        Theodor Heuss\nor render more burdensome any action required by\nthis Law from those concerned, or exclude or                                 The Deputy Federal Chancellor,\nrestrict legal remedies allowed by this Law.                                            also on behalf of\ntheFederalMinisterofForeignAffairs\n(3) Ordinances pursuant to Articles 1 (2), 5 (3)\nBlücher\nand (4), 8 (1) third sentence and (6), 9 (1), (4)\nand (5), 21 (2), 23 (5), 24 (4), 35 (2), 58 and 76 (1)                        The Federal Minister of Finance\ndo not require the consent of the Bundesrat.                                                  Schäffer\nArticle 77                            The Federal Minister of Justice\nDehler\nCooperatlon of Country of Offering\n(1) Ordinances pursuant to Articles 5 (3) and (4),                     For the Federal Minister of Economics:\n8 (1) third sentence, 9 (1), (4) and (5), 21 (2), 23 (5),                     the Federal Minister of Finance\n24 (4), 35 (2) and 76 (1) may be issued only after the                                        Schäffer\n- --- ..... ~- :. ,.i:.... - - ' -","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                                           323\nAnnex\n(Article 1 {1))\nS c h e d u I e o f F o r e i g n C u r r e n c y B o n d s +)\nA. Bonds of the German Reich and the Former State of Prussia\nSer. No.                            Designation                                    Currency       Country of Offering\nGerman External Loan 1Y24 (Da wes Loan) -           Bonds to Bearer\na) Gennan Government\nf 70/o Sterling Bonds, 1924 -     Belgian Issue                            :E         Belgium\nb) German Government\nf 70/o Sterling Bonds 1924 -      Dutch Issue                               :E       Holland\nc} German Government\n:E 79/e Sterling Bonds, 1924 - French Issue                                 :E       France\nd)  German Government\n70/o Lire Bonds, 1924 -     ltalian Issue                                 Lire       ltaly\ne) Gennan Government\n:E 70/o Sterling Bonds, 1924 - German Issue                                 :E        Switzerland\nf) German Government\n:E 70/o Sterling Bonds, 1924 -    Swiss Issue                               :E       Switzerland\ng) German Government                                                         Swiss\n70/o Swiss Franc Bonds, 1924 -       Swiss Issue                        Francs       Switzerland\nh) German Government                                                                     United Kingdom of Great\n:E 70/o Sterling Bonds, 1924 -    British Issue                            :E        Britain and Northern lreland\ni) Seven Per Cent. Gold Bonds\n(Total lssue in United States of America: $ 110,000,000)                   s         United States of America\n2     The German Reidl 61/, External Loan of 1930 (Kreuger Loan) -\nFifty Years Gold Bonds\ns         Sweden\n3     German Government lnt.ernational 51/1 Per Cent. Loan, 1930\n(Young Loan) - Bonds to Bearer\na) Belgian lssue                                                            Beigas       Belgium\nor Bdgian\nFrancs\nb) Dutc:h Issue                                                             Dutc:h       Holland\nFlorins\nc) French Issue                                                             Frendl       France\nFrancs\nd) Italian Issue                                                              Lire       ltaly\ne) Swedish Issue                                                           Swedish       Sweden\nKronor\nf) German Issue                                                            Reichs-       Switzerland\nmarks\ng) Swiss Issue                                                              Swiss        Switzerland\nFrancs\nh) German Government International 5½0/o Sterling Bonds, 1930                  :E        United Kingdom of Great\nBritain and Northern Ireland\ni) Five and One Half Per Cent. Gold Bonds (Total Issue in\nUnited States of America: $ 98,250,000)\ns         United States of America\n4     The Free State of Prussla (Freistaat Preußen) -         6 1/,.•/o Sinking      $         United States of America\nFund Gold Bonds - External Loan of 1926\n5     The Free State of Prussia (Freistaat Preußen) -            61/o Sinking                  United States of America\nFund Gold Bonds - External Loan 1927\n+1 The Bonds marked • have been included in the Schedule by virtue of Article 1 of the First Implementing Ordinance under the\nLaw for the Validation of German Foreign Currency Bonds (Supplementation of Schedule of German Foreign Currency Bonds)\ndated 21 February 1953 {Bundesgesetzblatt I page 31). Article 2 of the Ordinance specifies the Opening Date lobe 1 August 1953.","324                                         Bundesgesetzblatt, Jahrgang 1953, Teil II\nB. Bonds of the Konversionskasse for German External Debts\nSer. No.            lnterest       Currency         Designation           Date of                     Country of Offering\nRate                                                 Issue\n1a                                              Series  I          1.    6. 1935\n1b                                              Series II          1.   8.  1936\nUnited Kingdom of Great Britain\n1C                401, 0           t            Series  III        1.    3. 1937\nand Northern Ireland\n1d                                              Series IV          1.    8. 1937\n1e                                              Series  V          1.    4. 1938\n2                  4°/o          Dutch           Series  I          1. 11. 1935        Holland\nFlorins\n3a                                              Series             2.    3. 1936\n3b                                               Series  II         1.    9. 1936\n3c                 4°/o        Swedish           Series  III        1.    3. 1937\nKronor           Series  IV               9. 19~7      Sweden\n3d                                                                  1.\n3e                                              Series  V          1.    4. 1938\n3f                                               Series  VI         1. 12. 1938\n4a                                               Series IA          1. 7. 1935\n4b                 4~/o          Swiss           Series  IB         1. 7. 1935\nSeries  II A                          Switzerland\n4c                               Francs                            15. 8. 1936\n4d                                               Series  II B      15. 8. 1936\n5                  3°/o          Swiss                              1. 12. 1936        Switzerland\nFrancs\n6                  301/ 0        Swiss           Neue Ausgabe       1. 3. 1937         Switzerland\nFrancs\n7                 3°/o          French                             1.12.1936          France\nFrancs\n8                 3°/o          French          Neue Ausgabe       1. 3. 1937         France\nFrancs\n9                 30/0          Dutch                              1.12.1936          Holland\nFlorins\n10                  30;,          Dutch           Neue Ausgabe       1. 3. 1937         Holland\nFlorins\n11                  3°/o              $                              1. 7. 1936         United States of America\n12                  30;,              $           Neue Ausgabe       1. 6. 1937         United States of America\n13                  30/,              :€                             1. 12. 1936        United Kingdom of Great Britain\nand Northem Ireland\n14                  3°/o              :E          Neue Ausgabe       1. 3. 1937         United Kingdom of Great Britain\nand Northern lreland\nC. Other Securities\nI. Country of Oftering: Holland\nSer. No.                        Issuer                              Original                                         Year    Cur-\nGerman                                 Dutdi          Rate of                   Designation               of\nDesignation                           Designation        Interest                                         Issue rency\nDeutsdie Patent-Wärmesdiutz                                      80/o          Teilschuldverschreibungen        1926  Dutch\nAktiengesellsdiaft - Dortmund                                                                                        Florins\n2    Deutsdie Rentenbank-Kredit-                                                    Meliorations-Sdiuldver-          1930 Swiss\nanstalt (Landwirtschaftliche                                                   schreibungen                          Francs\nZentralbank)\n3    Esd1weilerBergwerks-Verein-                                                    Teilschuldverschreibungen        1927  Dutch\nKohlscheid bei Aadien                                                                                                Florins\n4    Hagener Straßenbahn Aktien-           Tramwegen der              80/o          Obligationen                    1930 Dutch\ngesellsdiaft - Hagen (West-           StM Hagen - Te                                                                 Florins\nfalen)                                Hagen (Westfalen)\n5    St. Josefsheim G.m.b.H.                St. Josef-Stiditing       7°/o          Obligaties aan Toonder           1928  Dutch\nBerlin-Charlottenburg                 - Berlijn-Charlot-                                                             Florins\ntenburg\n6    Landesbank der Rheinprovinz                                      701/ 0        Teilschuldversdireibungen        1926  Dutch\nin Düsseldorf (jetzt: Rheinisdie                                                                                     Florins\nGirozentrale und Provinzial-\nBank, Düsseldorf)\n7    Neckar-Aktiengesellschaft -                                      66 /o         Teilsdiuldversdireibungen        1930  Dutch\nStuttgart                                                                                                            Florins\n8    Ruhrverband - Essen                                              60/o          Teilschuldversdireibungen        1927  Dutch\nFlorins\n9    Ruhrverband -        Essen                                       7 8/o         Obligatien I (20-jarige         1930   Dutch\nObligatieleening 1930)                Florins\n10    Ruhrverband -        Essen                                       70/o          Obligatien II (20-jarige         1930  Dutch\n[2e] Obligatieleening)                Florins\n11    C.J.Vogel Draht- und Kabel-                                                    Obligationen                    1928   Dutch\nwerke Aktiengesellsdiaft                                                                                             Florins\n12::- Osram Gesellschaft mit be-                                                     Teilschuldverschreibungen        1925    $\nsduänk ter Haftung Koinmandi t-\ngesellschaf t in Berlin\n13::- Carl Zeiss-Stiftung in Jena            Carl Zeiss-               70/o          20-jarige eerste Hypothe-        1926  Dutch\n(jetzt: Heidenheim a. d. Brenz)        Stichting                               caire Leening                         Florins\nte Jena                                 Obligatien aan Toonder","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                                  325\nII. Country of Offering: Switzerland\n(All issues expressed in Swiss francs)\nSer.                           lssuer                              Original Rate           Designation       Year of\nNo.                                                                  of lnterest                              lssue\nBaden, Freistaat                                                    6½0/o     Teilschuldverschreibungen   1926\n(Obligationen)\n2 Badische Girozentrale, öffentliche Bankanstalt des Badischen          61/20/o   Teilsdluldversdlreibungen   1928\nSparkassen- und Giroverbandes in Mannheim (jetzt: Badische\nKommunale Landesbank Girozentrale - Mannheim)\n3 Badische       Landeselektrizitätsversorgung    Aktiengesellschaft       60/o   Teilsdluldverschreibungen   1928\n(jetzt: Badenwerk A.G.) in Karlsruhe\n4 Badische Landeselektrizitätsversorgung          Aktiengesellschaft       60/o   Teilschuldverschreibungen   1930\n(jetzt: Badenwerk A.G.) in Karlsruhe\n5 Berliner Städtische Elektrizitätswerke AG. (jetzt: Berliner              70/o   Teilsdluldversdlreibungen   1925\nKraft- und Licht[Bewag)-Aktiengesellschaft)                                  (Obligationen)\n6 Bochum, Stadt                                                            50/o   Teilschuldverschreibungen  1926\n1 Dortmund, Stadt                                                          5°/o   Teilschuldversdlreibungen   1926\n8 Elektrizitäts-Actien-Gesellschaft vorm. W. Lahmeyer & Co. -              6°/,   Teilschuldverschreibungen   1927\nFrankfurt a. M.                                                               (Obligationen)\n9 Felten & Guilleaume Carlswerk Actien-Gesellschaft in Köln-            51/2¼     Teilschuldverschreibungen   1927\nMülheim\n10 Freiburg im Breisgau, Stadt                                              56/,   Teilschuldverschreibungen   1926\n11 Gewerkschaft des Steinkohlenbergwerks Graf Schwerin zu                4½¼       Verpflidl t ungsscheine    1930\nCastrop-Rauxel, mit dem Verwaltungssitz in Bochum (jetzt:\nBergbau-Aktiengesellschaft Lothringen)\n12 Gewerkschaft des Steinkohlenbergwerks Graf Schwerin zu                          Zinstilgungssc:heine        1930\nCastrop-Rauxel, mit dem Verwaltungssitz in Bochum (jetzt:\nBergbau-Aktiengesellschaft Lothringen)\n13 Heidelberg, Stadt                                                        58/,   Teilsdluldversdueibungen   1926\n14 Hessische Eisenbahn-Aktiengesellsdlaft (Heag) in Darmstadt            61/'lO/o  Teilschuldverschreibungen  1929\n(jetzt: Hessische Elektrizitäts-Aktiengesellschaft Darmstadt)\n15 Karlsruhe, Stadt                                                         50/o   Teilschuldverschreibungen  1926\n16 Konstanz, Stadt                                                          60/o   Teilschuldverschreibungen  1928\n(Obligationen)\n17 Kraftübertragungswerke Rheinfalden                                       50/o   Obligationen               1927\n18 Kraftwerk Reckingen Aktiengesellschaft                                4½0/o     Obligationen               1930\n19 Krefeld, Stadt                                                           50/o   Teilsdluldversdlreibungen  1926\n20 Lech-ElektrizHätswerke Aktien-Gesellschaft, Augsburg                      70/o   Obligationen               1926\n21 Lech-Elektrizitätswerke Aktien-Gesellschaft, Augsburg                     1°/o   Obligationen               1929\n22 Nordwestdeutsche Kraftwerke Aktiengesellschaft:              siehe\n„Siemens• Elektrisdle Betriebe Aktiengesellsdlaft\n23 Nürnberg, Stadt                                                           5°/o.  Teilschuldverschreibungen  1926\n24 Rheinkraftwerk Albbruc:k-Dogern Aktiengesellschaft                     5½¼       Obligationen               1930\n25 Schludlseewerk Aktiengesellschaft                                         60/o   Obligationen               1929\n26 „Siemens Elektrisc:he Betriebe Aktiengesellsdlaft (jetzt:\n0\n4½¼       Teilsdluldverschreibungen  1908/36/41\nNordwestdeutsdle Kraftwerke. Aktiengesellsdlaft)\n27 „Siemens\" Elektrisdle Betriebe Aktiengesellsdlaft (jetzt:              41/20/o   Teilschuldverschreibungen  1912\nNordwestdeutsdle Kraftwerke Aktiengesellsdlaft)\n28 „Siemens• Elektrische Betriebe Aktiengesellsdlaft (jetzt:                 5°/,   Teilsdluldverschreibungen  1913\nNordwestdeutsdle Kraftwerke Aktiengesellsdlaft)\n29 Tuc:hfabrik Lörrach Aktiengesellschaft                                   5°/,    Teilschuldverschreibungen  1931\n30 Untere lller Aktiengesellschaft in München                             6½¼      Obligationen                1928\n31 Wintershall Aktiengesellschaft in Berlin                               4½¼      Inhaber-Teilschuld-\n(Kali-Industrie-AG.)                                                         verschreibungen             1924\n32 Württemberg, Freistaat                                                 6½'¼      Teilschuldverschreibungen  1931\n33,:- Steinkohlenbergwerk Friedrich Heinridl Aktiengesellschaft-            60/o   lnhaber-Teilschuld-Ver-\nLintfort, Kreis Mörs                                                         sdlreibungen, Serie A      1928","326                                    Bundesgesetzblatt, Jahrgang 1953, Teil II\nIII. Country of Offering: United Kingdom of Great Britain and Northern Ireland\n(All issues expressed in :t)\nlssuer                                                                            Year\nSer.           German                          English                Rate of         Designation                 of\nNo.          Designation·                    Designation              Interest                                  Issue\nBerlin Stadt                   City of Berlin                       6°/e         Sterling Bonds            1927\n2 Hamburg, Hansestadt               State of Hamburg                     60/o         Sterling Bonds            1926\n3    Köln, Stadt                    City of Cologne                      60/o         Sterling Bonds            1928\n4    Metallgesellschaft, Aktien-                                     61/'l.O/o        Sterling Bonds            1928\ngesellschaft, Frankfurt a. M.\n5    München, Stadt                 City of Munich                      6°/o          Sterling Bonds            1928\n6    Preußische Elektrizitäts-      Prussian Electric Company           60/o          Sterling Bonds            1928\nAktiengesellschaft\n7    Provinzialverband der Pro-     Province of Westphalia               70/o         Sterling Bonds            1926\nvinz Westfalen\n8* Deutsches Kalisyndikat           The Potasb Syndicate                 70/o  25-Year Sinking Fund Gold Loan   1925\nG.m.b.H. Berlin                of Germany                                 Series • A • Sterling Bonds\n9* Deutsches Kalisyndikat           The Potasb Syndicate                 7°/,  25- Year Sinking Fund Gold Loan  1926\nG.m.b.H. Berlin                of Germany                                 Series •B• Sterling Bonds\n10::- Deutsches Kalisyndikat         The Potash Syndicate             6½0/o     25-Year Sinking Fund Gold Loan   1929\nG.m.b.H. Berlin                of Germany                                 Series •c• Sterling Bonds\n11 * Hamburger      Wasserwerke      Hamburg Waterworks                   6°/e  Sterling Loan                    1928\nG.m.b.H\nIV. Country of Oftering: United States of America\n(All issues expressed in $)\nlssuer                                  Original                                  Year\nSer.           German                          American               Rate of         Designation                  of\nNo.          Designation                      Designation              lnterest                                 Issue\nAllgemeine Elektricitäts-      General Electric Company,             70/o Twenty-Year Sinking Fund Gold    1925\nGesellsdlaft (AEG)             Germany                                    Debentures - Due January 15,\n1945\n2   Allgemeine Elektricitäts-      General Electric Company,         6½0/o    Fifteen-Year Gold Sinking Fund   1925\nGesellsdiaft (AEG)             Germany                                    Debentures - Due December 1,\n1940\n3   Allgemeine Elektricitäts-      General Electric Company,             60/o Twenty-Year Sinking Fund Gold    1928\nGesellschaft (AEG)             Germany                                    Debentures - Due May 1, 1948\n4 Bayerisch-Pfälzische Städte      Bavarian Palatinate Consoli-          70/o External Serial Gold Bonds        1926\ndated Cities, Germany\n5 Bayern, Freistaat                Free State of Bavaria                      Serial Gold Bonds                1925\n6    Bayern, Freistaat             Free State of Bavaria                      External Twenty Year Sinking      1925\nFund Gold Bonds - Due August 1,\n1945\n7    Berlin, Stadt                  City of Berlin                   61/20/o  Twenty-five Year Sinking Fund     1925\nGold Bonds - Due April First,\n1950\n8 Berlin, Stadt                     City of Berlin                       60/o Thirty Year External Sinking      1928\nFund Gold Bonds - Due June 15,\n1958\n9 Berliner Städtische Elektri- Berlin City Electric Company,         6½0/o    Twenty-five Year Sinking Fund     1926\nzitätswerke Akt.-Ges. Uetzt: lncorporated                                Debentures - Due December 1,\nBerliner Kraft- und Licht                                                 1951\n(Bewag]-Aktiengesellschaft)\n10    Berliner Städtische Elektri- Berlin City Electric Company,      61/zO/o  Thirty-Year Sinking Fund Deben-   1929\nzitätswerke Akt.-Ges. (jetzt: Incorporated                               tures - Due February 1, 1959\nBerliner Kraft- und Licht\n(Bewag}-Aktiengesellschaft)\nlt    Berliner Städtische Elektri- Berlin City Electric Company,          60/o Twenty-five Year Debentures -     1930\nzitätswerke Akt.-Ges. Uetzt: lncorporated                                 Due April 1. 1955\nBerliner Kraft- und Licht\n(Bewag]-Aktiengesellschaft)","Nr. 14-Tag der Ausgabe: Bonn, den 20. August 1953                             327\nIssuer                               Original                                    Year\nSer.              German                          American          Rate of            Designation               of\nNo.             Designation                      Designation       Interest                                   Issue\n1~ Bezirksverband Oberschwä- Consolidated Hydro-Electric              70/o  First Mortgage Thirty-Year Sin-    1926\nbische Elektrizitätswerke       Works of Upper Wurttemberg             king Fund Gold Bonds - Due\nJanuary 15 1956\n13   Braunkohlen-Industrie-          Brown Coal lnd ustrial Corpo- 6¼0/o    Sinking Fund Mortgage Gold         1928\nAktiengesellschaft.Zukunft•     ration .Zukunft\"                       Bonds Series A - Due April 1,\n1953\n14   Bremen, Freie Hansestadt       State of Bremen (Free Hanse-      70/o  Ten-Year External Loan Gold        1925\natic City of Bremen)                   Bonds - Due September 1, 1935\n15   Central-Ausschuß für die In-    (Protestant Church in Germany    70/o  Twenty Year Secured       Sinkmg   1926\nnere Mission der Deutschen      Welfare Institutions Loan)             Fund Gold Bonds\nEvangelischen Kirche\n16    Deutsch-Atlantische Tele-      German Atlantic Cable Com-       10/o  First Mortage Twenty-Year Sin-     1925\ngraphengesellschaft            pany                                   kmg Fund Gold Dollar Bonds -\nDue April 1, 1945\n11   Deutsche Landesbankenzen-       Central Bank of German State     60/o  First Mortgage Secured Gold Sin-   1927\ntrale Aktiengesellschaft       & Provincial Banks, Inc.               king Fund Bonds Senes A - Due\nAugust 1, 1952\n18   Deutsche Landesbankenzen-       Central Bank of German State     60/o  Mortgage Secured Gold Sink inq     1927\ntrale Aktiengesellschaft        & Provincial Banks, Inc.               Fund Bonds Senes B -         Due\nOctober 1. 1951\n19   Deutsche Landesbankenzen-       Central Bank of German State  6½'¼     German Provincial and Communal     1928\ntrale Aktiengesellschaft als    & Provincial Banks, Inc.               Banks Consolidated AgricuJtural\nZentralagent für:                                                      Loan - Secured Smkmq Fund\nHannoversche Landeskredit-                                             Gold Bonds Senes A -         Due\nanstalt.                                                               June 1, 1958\nLandesbank der Provinz\nSchleswig-Holstein,\nBrandenburgische Provin-\nzialbank und Giro-Zentrale,\nLandesbank der Rhein-\nprovinz.\nLandesbank der Provinz\nWestfalen.\nNassauische Landesbank,\nBadischen Sparkassen- und\nGiroverband.\nBadische Girozentrale,\nWürttembergischen Spar-\nkassen- und Giroverband\nund andere Kommunalban-\nken Mittel- und Ostdeutsch-\nlands\n20   Deutsche Rentenbank-Kre-        German Central Bank for          70/o  First Lien Gold Farm Loan Sinking  1925\nditanstalt Landwirtschaft-      Agriculture                            Fund Bonds - Due September 15,\nliche Zentralbank                                                      1950\n21   Deutsche Rentenbank-Kre-       German Central Bank for          60/o   Farm Loan Secured Gold Sinkmg      t 927\nditanstalt Landwirtschaft•      Agriculture                            Fund Bonds - Due July 15, 1960\nliehe Zentralbank\n22   Deutsche Rentenbank-Kre-       German Central Bank for                 Farm Loan Secured Gold Sinking     1927\ndi tanstalt Landwlrtschaft-     Agriculture                            Fund Bonds - Second Series of\n1iche Zentralbank                                                      1927 -     Due October 15, 1960\n23   Deutsche Rentenbank-Kre•       German Central Bank for           60/o  Farm Loan Secured Gold Sinking     1928\ndi tanstalt landwirtschaft-    Agricul ture                            Fund Bonds - Series A ot 1928\nliche Zentralbank                                                      - Due April 15, 1938\n24   Deutscher Sparkassen• und       German Savings Banks and               German Corisolidated Municipal     1926\nGiroverband                     Clearing Association                   Loan - Sinking Fund Secu~ed\nGold Bonds - Series of 1926 due\n1947 - Due February 1, 1941\n25   Deutscher Sparkassen- und       German Savings Banks and               German Consolidated Municipal      1928\nGiroverband                     Clearing Association                   Loan -     Sinking Fund Secured\nGold Bonds - Series due 1941\n26   Dortmunder Wasserwerks- Dortmund Municipal Utilities          61/19/1  Twenty-Year Sinking Fund Mort-     1928\ngesellschaft m. b. H., Dort-                                           gage Gold Bonds - Due October 1,\nmunder Aktiengesellschaft                                              1948\nfür Gasbeleuchtung, Dort•\nmunder Straßenbahnen G.m.\nb.H. (jetzt: Dortmunder\nStadtwerke Aktiengesell-\nschaft)","328                                    Bundesgesetzblatt, Jahrgang 1953, Teil II\nIssuer                             Original                                      Yeer\nSer.              German                         American          Rate of           Designation                 of\nNo.             Designation                    Designation        Interest                                     Issue\n27   Düsseldorf, Stadt              City of Duesseldorf             70/o   Externat Serial Gold Bonds           1925\n28   Duisburg, Stadt                City of Duisburg                70/o   Serial Gold Bonds                    1925\n29   Elektrizitätswerk Unterelbe,   Unterelbe Power & Light                Twenty-Five Year Sinking Fund        1928\nAktiengesellschaft             Company                                Mortgage Gold Bonds, Series A -\nDue April 1, 1953\n30 Elektrowerke Aktiengesell-       Electric Power Corporation   6½0/o     First Mortgage Sinking Fund Gold     1925\nschaft                                                                Bonds - Series Due 1950\n31   Elektrowerke Aktiengesell-     Electric Power Corporation    6½0/o    First Mortgage Sinking Fund Gold     1928\nschaft                                                                Bonds - Series Due 1953\n32   Frankfurt am Main, Stapt       City of Frankfort-on-Main              Serial Gold Bonds Externat Loan      1925\nof 1925\n33   Frankfurt am Main, Stadt       City of Frankfort-on-Main     6½0/o    Twenty-five-Year Sinking Fund        1928\nGold Bonds Municipal External\nLoan of 1928 - Due May 1, 1953\n34   Gas- und Eltwerke kommu-       Municipal Gas and Electric             First Mortgage Twenty-Year Sink-     1927\nnale Aktiengesellschaft        Corporation of Reckling-               ing Fund Gold Bonds -          Due\nRecklinghausen                 hausen                                 December 1, 1947\n35   Gesamtverband der acht         Roman Catholic Churc:h in     6½0/o    Twenty-Year Sinking Fund Gold        1926\nbayerischen Diözesen           Bavaria                                Bonds Series A - Due Marc:h 1,\n1946\n36   Gesellschaft für elektrische   Berlin Electric Elevated and  6½ 0 /o  Thirty-Year· First Mortgage · Sink-  1926\nHoch- und Untergrundbah-       Underground Railways Com-              ing Fund Gold Bonds -          Due\nnen in Berlin -        (jetzt: pany                                   October 1, 1956\nBerliner Verkehrs-Betriebe\n(BVG])\n37   Gesfürel (Gesellschaft für     Gesfürel                               Sinking Fund Gold Debentures -       1928\nElektrische Unternehmun-                                              Due June 1, 1953\ngen)\n38   Großkraftwerk Mannheim         Mannheim and Palatinate                Fifteen-Year Sinking Fund Mort-      1926\nAktien-Gesellschaft, Pfalz-    Electric Companies                     gage Gold Bonds - Due June 1,\nwerke Aktiengesellschaft                                              1941\n39   Gutehoffnungshütte, Aktien-    .Good Hope Steel and Iron       7°/a   Twenty-Year Sinking Fund Mort-       1925\nverein für Bergbau und Hüt-    Works\"                                 gage Gold Bonds - Due October\ntenbetrieb; Gutehoffnungs-                                            15, 1945\nhütte Oberhausen Aktien-\ngesellschaft\n40  Hamburger Hochbahn             Hamburg Elevated Under-       5½0/t    Ten-Year Gold      Loan        Due   1928\nAktiengesellschaft             ground and Street Railways             June 1, 1938\nCo.\n41   Hamburger Staat (Freie und State of Hamburg (Free and          60/o   Twenty-Year Gold Bonds -       Due   1926\nHansestadt Hamburg)            Hanseatic City of Hamburg)             October 1, 1946\n42   Hannover, Stadt                City of Hanover                        Ten Year External Convertible         1929\nGold Bonds - Due November 1,\n1939\n43   Hannover, Stadt                City of Hanover                        External Sinking Fund Gold Bonds     1929\n- Due November 1. 1959\n44   Harpener Bergbau-Aktien-       Harpen Mining Corporation       60/o   Gold Mortgage Bonds Series of        1929\nGesellschaft                                                          1929 - Due January 1, 1949\n45 Harzwasserwerke der Pro-         Province of Hanover Harz        60/o   Sinking Fund Gold Bonds, First       1927\nvinz Hannover                  Water Works                            Series - Due August 1, 1951\n46 Harzwasserwerke der Pro-         Province of Hanover Harz      6½0/o    Sinking Fund Gold Bonds, Second      1929\nvinz Hannover                  Water Works                            Series - Due February 1, 1949\n47  Ilseder Hütte                  Ilseder Steel Corporation       60/o   Gold Mortgage Bonds - Series of      1928\n1928 - Due August 1, 1948\n48  Rudolph Karstadt               Rudolph Karstadt,               60/o   First Mortgage Collateral Sinking    1928\nAktiengesellschaft             Incorporated                           Fund Bonds - Due November 1,\n1943\n49  Köln, Stadt                    City of Cologne               6½0/o    Twenty-five Year Sinking Fund        1925\nGold Bonds - Due March 15, 1950\n50  Königsberger Zellstoff-Fa-     Koholyt Corporation           6½0/o    First (Closed) Mortgage Smking       1928\nbriken und Chemische                                                 Fund Gold Bonds\nWerke Koholyt Aktien-\ngesellsc:haft\n.-II","Nr. 14 -Tag der Ausgabe: Bonn, den 20. August 1953                             329\nIssuer                             Original                                      Year\nSer.              German                          American         Rate of            Designation                of\nNo.            Designation                       Designation      lnterest                                     lssue\n51   Kommunale Landesbank in         Municipal Bank of the State           Serial Gold Bonds                    1925\nDarmstadt                      of Hessen\n52   Lüneburger Kraft-, Licht- und Luneburg Power, Light and        70/o   First Mortgage Twenty-Year S:n-      1928\nWasserwerke Gesellschaft       Waterworks, Ltd.                      king Fund Gold Bonds - Due\nmit beschränkter Haftung                                              May 1. 1948\n53   Mansfeld Aktiengesellschaft Mansfeld Mining and Smelting       70/o   Fifteen Year (closed) Mortgage       1926\nfür Bergbau und Hütten- Company                                       Sinking Fund Gold Bonds - Due\nbetrieb                                                               May 1. 1941\n54    „Miag• Mühlenbau und In-       Miag Mill Machinery Com-       70/o   Closed First Mortgage Thirty-Yea1    1926\ndustrie-Aktiengesellschaft      pany                                  Sinking Fund Gold Bonds - Due\n(jetzt: G.m.b.H.)                                                     June 1, 1956\n55    München, Stadt                 City of Munich                 1•1.   Serial Gold Bonds                    1925\n56   Norddeutscher Lloyd             Nortb German Lloyd Bremen      60/o   Twenty- Year Sinking Fund Gold       1927\n(Bremen)                                                              Bonds - Due NovembPr 1, 1947\n57   Norddeutscher Lloyd             North German Lloyd Bremen      40;.   Sinking Fund Bonds of 1933 -         1933\n(Bremen)                                                              Due November 1, 1947\n58   Nürnberg. Stadt                 City of Nuremberg              60/o   Externat Twenty-Five Year Sin-       1927\nking Fund Gold Bonds - Due\nAugust 1, 1952\n59   Oberpf alzwerke Aktien-         Oberpfalz Electric ,Power      70;,   First Mortgage Sinking Fund Gold     1926\ngesellschaft für Elektrizitäts• Corporation                           Bonds\nversorgung (jetzt Energie•\nversorgung Ostbayern\nAktiengesellschaft)\n60   Oldenburg, Freistaat            Free State of Oldenburg        70;,   External Serial Gold Bonds           1925\n61    Pfälzische Städte: siehe\nBayerisch-Pfälzische Städte\n62   Pfalzwerke Aktiengesell•\nschaft: siehe Großkraftwerk\nMannheim\n63   Preußische Elektrizitäts-       Prussian Electric Company      60/o   Sinking Fund Gold Debentures -       1929\nAktiengesellschaft (Preußen-                                          Due February 1, 1954\nelektral\n64   Rhein-Elbe Union                Rheinelbe Union                70/o   Twenty-Year Sinking Fund Mort-       1926\ngage Gold Bonds - Due January 1,\n1946\n65   Rheinisch-Westfälisches         Rhine-Westphalia Electric      70/o   Direct Mortgage Gold Bonds -         1925\nElektrizitätswerk Aktien-       Power Corporation                     Due November 1, 1950\nGesellschaft\n66   Rheinisch• Westfälisches        Rhine-Westphalia Electric      69/,   Direct Mortgage Gold Bonds -         1927\nElektrizitätswerk Aktien•       Power Corporation                     Due May t, 1952\nGesellschaft\n67   Rheinisch-Westfälisches         Rhine-Westphalia Electric      6°/,   Consolidated Mortgage Gold           1928\nElektrizitätswerk Aktien•       Power Corporation                     Bonds - Due August 1, 1953\nGesellschaft\n68   Rheinisch· Westfälisches        Rhine-Westphalia Electric      6•/1   Consolidated Mortage Gold            1930\nElektrizitätswerk Aktien•       Power Corporation                     Bonds - Due April 1; 1955\nGesellschaft\n69   Rhein-Main-Donau Aktien•        Rhine-Main-Danube Corpo-       7°/e   Sinking Fund Gold Debentures,        1925\ngesellschaf t                   ration                                Series A - Due September 1, 1950\n70   Römisch-Katholische kirch•      Roman Catholic Church Wel•     .,.,,  Twenty Year Secured Sinking       1926/28\nliehe Wohlfahrtseinrichtun-     fare Institutions in Germany          Fund Gold Bonds\ngen in Deutschland (Der\nDeutsche Caritasverband\nEingetragener Verein, Die\nKatholische Schulorganisa•\ntion Deutschlands (Landes-\nausschuß Preußen) Eingetra•\ngener Verein und Der\nReichsverband der Katholi•\nsehen Gesellenhäuser, Lehr-\nlings- und Ledigenheime\nEinqetraqener Verein)","330                                        Bundesgesetzblatt, Jahrgang 1953, Teil II\nIssuer                                         Original                                             Year\nSer.             German                               American                  Rate of                Designation                    of\nNo.            Designation                           Designation               Interest                                             Issue\n'11  Ruhrchemie Aktiengesell-           Ruhr Chemical Corporation                 60/o     Sinking Fund Mortgage Bonds,              1928\nschaft                                                                                Series A - Due April 1, 1948\n72   Ruhrgas Aktiengesellschaft         Ruhr Gas Corporation                   61120/o     Secured Sinking Fund Bonds,               1928\nSeries A - Due October l, 1953\n73  Ruhrwohnungsbau - Aktien-          Ruhr Housing Corporation               61120/o     First Mortgage Sinking Fund               1928\ngesellschaft                                                                          Bonds - Due November l, 1958\n74   Leonhard Tietz Aktien-             Leonhard Tietz, lncorporated           7½0/o       Twenty-Year Mortgage Gold Bonds           1926\ngesellschaft (jetzt: West-\ndeutsche Kaufhof Aktien-\ngesellschaft)\n75   Vereinigte Badische Städte Consolidated Municipalities                        70/o     External Sinking Fund Gold Bonds         1926\nof Baden                                            - Due January 1, 1951\n76   Vereinigte Elektrizitäts-          Westphalia United Electric                         First Mortgage Sinkinq Fund Gold          1928\nwerke Westfalen G.m b.H.           Power Corpo1ation                                   Bonds, Series A - Due January 1,\n(jetzt: Aktiengesellschaft)                                                            1953\n77   Vereiniqte Industrieunter•         United lndustrial Corporation              6°/o     Hydro-Electric First {Closed)            1925\nnehmungen Aktiengesell•            (Viag)                                              Mortgage Sinking Fund Gold\nschaft (Viag)                                                                          Bonds\n78  Vereinigte Industrieunter-         United Industrial Corporation          6 1/10/o     Sinking Fund Gold Debentures             1926\nnehmungen Aktiengesell•            (ViagJ\nschaft (Viag)\n79 -Vereiniqte Stahlwerke              United Steel Works Corpora-            6½0/o        25-Year Sinklng Fund Mortgage            1926\nAktiengesellschaft                 tion                                                Gold Bonds, Series A -            Due\nJune 1, 1951\n80   Vereinigte Stahlwerke              United Steel Works Corpora•            6½¼         25- Year Sinking Fund Mortgage            1926\nAktiengesellschaft                 tion                                                Gold Bonds, Senes C -             Due\nJune 1, 1951\n81   Vereiniqte Stahlwerke              United Steel Works Corpora-            61/10/o      20-Year Sinking Fund Debentures,         1927\nAk tienqesellschaft                tion                                                Series A - Due July 1, 1947\n82  Vestische Kleinbahnen Ge- Vesten Electric Railways                            70/o     First Mortgage Twenty Year Sin-          1927\nsellschaft mit beschränkter Company                                                    king Fund Gold Bonds - Due\nHaftung (Vestische Straßen-                                                            December 1, 1947\nbahn G.m.bH.l\n83  Wasserwirtschaft im Rh~i-          Rhine-Ruhr Water Service                   60/o     Twenty-Five Year Sinking Fund            1928\nnisch-Westfälischen lndu-          Union                                               Externat Gold Debentures - Due\nstriegebiet (Ruhrkohlen-                                                               January 1, 1953\nbezirkl, G.m.b.H.\n84   Wohnhaus-Grundstücks-              Housing and Realty Improve-                7°/,     First (Oosed1 Mortgage Twenty            1926\nVerwertungs-Aktiengesell-          ment Company, Berlin                                Year Sinking Fund Gold Bonds\nschaft am Lehniner Platz\n85  Württembergische Städte            (State of Wurttemberg Con-                 70/o     Serial Gold Bonds                        1925\nund Gemeinden                      solidated Municipal External\nLoan of 1925)\n86* Heidelberg, Stadt                   City of Heidelberg                      71/1°/,     External Twenty-Five Year Sin•           1925\nking Fund Gold Bonds - Due\nJuly 1, 1950\n87* Siemens & Halske Aktien-            Siemens & Halske Stock                  61/1°/e     Twenty-Five Year Sinking Fund            1926\ngesellschaft. Siemens-             Corporation; Siemens-                               Gold Debenture - Due Septem-\nSchuckertwerke, Gesell-            Schuckertwerke Company,                             ber 1, 1951\nschaft mit beschränkter            Limited\nHaftung (jetzt: Aktien-\ngesellschaftl\n88:~ Siemens & Halske Aktien-           Siemens & Halske Stock                     60/o     Pa1ticipating Debenture, Series A        1930\ngesellschaft                       Corporation                                       . - Due January 15, 2930\nHerausgeber: Der Bundesminister der Justiz. - Ver 1 a g: Bundesanzeiger-Verlags-GmbH., Bonn/Köln. - Druck: B~ndesdruckerei, Bonn\nDas Bundesgesetzblatt erscheint in zwei gesonderten Teilen, Teil I und Teil II.\nLaufend er Bezug nur durch die Post. Bezugspreis : vierteljährlich für Teil I -= DM 4,-, für Teil II = DM 3,- (zuzügli<h Zustellgebühr).\nEinzelstücke je angefangene 24 Seiten DM 0,40 (zuzüglich Versandgebühren DM 0, 10) - Zusendung einzelner Stücke per Streifband gegen\nVoreinsendung des erforderlichen Betrages auf Postscheckkonto • Bundesanzeiger-Verlags-GmbH.-Bundesgesetzblatt• Köln 3 99"]}