Source: https://www.global-regulation.com/translation/germany/384520/the-expression-of-a-gold-1-dm-coin-and-the-establishment-of-the-%2522money-and-currency%2522-foundation-act.html
Timestamp: 2019-04-21 11:05:02
Document Index: 626934742

Matched Legal Cases: ['§ 2', '§ 3', '§ 4', '§ 4', '§ 5', '§ 6', '§ 8', '§ 13', '§ 11', '§ 12', '§ 13', '§ 14', '§ 15', '§ 16', '§ 17', '§ 18']

Machine Translation of "The Expression Of A Gold 1 Dm Coin And The Establishment Of The "money And Currency" Foundation Act" (Germany)
The Expression Of A Gold 1 Dm Coin And The Establishment Of The "money And Currency" Foundation Act
Original Language Title: Gesetz über die Ausprägung einer 1-DM-Goldmünze und die Errichtung der Stiftung "Geld und Währung"
Read the untranslated law here: http://www.gesetze-im-internet.de/1-dm-goldm_nzg/BJNR204500000.html
Law on the expression of a gold 1 DM coin and the establishment of the Foundation "Money and currency" 1-DM GoldmünzG Ausfertigung date: 27.12.2000 full quotation: "law on the expression of a gold 1 DM coin and the establishment of the Foundation"Money and currency"of 27 December 2000 (BGBl. I S. 2045)" footnote (+++ text detection from: 31.12.2000 +++) first section issue a DEM 1 gold coin section 1 issue by the Deutsche Bundesbank is the Deutsche Bundesbank authorized , as a memorial to the Deutsche mark in his own name in 2001 a gold coin 1 Deutsche mark (1 DM coin) with a print run of up to a million pieces to give out.
§ 2 form the 1-DM (1) gold coin is the design of value and image page of 1 DM coin with the exception of the inscription on the picture side with the figure of 1 DM Federal coin identical. The inscription says "Deutsche Bundesbank".
(2) the Deutsche Bundesbank sets the technical characteristics of the Gold 1 DM coin in consultation with the Federal Ministry of finance.
(3) the design and the technical characteristics of the Gold 1 DM coin are known in the Federal Gazette.
§ 3 1-DM - coins are legal tender in accordance with § 4 to tender to the expiration of the December 31, 2001.
§ 4 required acceptance and Exchange obligation (1) which is the Deutsche Bundesbank to take the 1-DM coins at par in payment or Exchange in other legal tender.
(2) the provision of section 1 sentence 2 of the DM termination Act applies accordingly for the exchange of 1 DM gold coins from 1 January 2002.
§ 5 embossing and compensation (1) the DM 1 coins are of those mints of the countries pronounced, who declare themselves willing to do so and instructed by the Deutsche Bundesbank. The procedure of expression is subject to the supervision of the German Federal Bank.
(2) the Deutsche Bundesbank determines the distribution of to defining amounts on the individual mints and the uniform and adequate remuneration for the minting of gold coins to be granted them in consultation with the mints of the countries.
(3) coins metals necessary for the expression of are assigned to the mints of the Deutsche Bundesbank.
§ 6 placing the 1 DM gold coins are notwithstanding article 106 paragraph 2 sentence 1 of the Treaty establishing the European Community by the Deutsche Bundesbank and the point of sale for collector's coins at the federal debt administration in traffic brought.
Paragraph the issue price of gold 1 DM coin 7 issue price the Deutsche Bundesbank after the market price for gold on the day before the first edition plus a market issue surcharge. You can change the output price due to a change in the price of gold during the sales period.
§ 8 proceeds use (1) the net proceeds from the placing on the market of the DM 1 coins flows up to the amount of 100 million DM "Money and currency" Foundation.
(2) the net proceeds exceeding the amount referred to in paragraph 1 flows "Preußischer Kulturbesitz" to the Foundation. He is to use for the intended purpose for the renovation of Berlin's Museum Island.
(3) the Deutsche Bundesbank returns from the net on January 2, 2002.
Section 9 application of the fine provisions of the coin Act § 13 of the law on coins of 16 December 1999 (BGBl. I S. 2402) does not apply for the 1 DM gold coins.
Second section Foundation "Money and currency" section 10 establishment of the Foundation called "Money and currency" is (1) built a legal foundation of under public law. The Foundation is Frankfurt am Main on 1 January 2002 (2) which is the seat of the Foundation.
§ 11 Foundation purpose is (1) the purpose of the Foundation to receive the public's awareness of the importance of stable money and to promote. The Foundation supports the economic and legal research especially in the field of money and currency matters for this purpose.
(2) the fulfillment of this purpose are used in particular: 1. the implementation and financing of research projects;
2. the granting of fellowships;
3. promoting scientific exchanges through events and discussion forums with German and international participation.
§ 12 Foundation's assets (1) the Deutsche Bundesbank manages the assets of the Foundation after flowing to article 8, paragraph 1.
(2) to fulfill the purpose of the Foundation and for the financing of the administrative costs used the Foundation the income from the investment of the assets referred to in paragraph 1 (3) which is entitled to accept payments from third parties.
(4) in the event of the termination of the Foundation falls to their assets of the Deutsche Bundesbank.
§ 13 statute that gives Foundation is in agreement with the German Bundesbank and in consultation with the Federal Ministry of finance a statute adopted by the Board by a majority of six Siebteln of its members. The same applies to amendments to the Statute.
§ 14 Foundation's governing bodies are organs of the Foundation Board of Trustees and the Board of Directors.
§ 15 Foundation Board (1) the Board consists of seven members. The German Federal Bank appoints five members. The Federal Ministry of finance appoints two members. For each Member, a representative is appointed.
(2) the Board of Trustees elects the Chairman and the Deputy Chairman from among its members.
(3) the members of the Board of Trustees and their representatives be ordered for a period of four years. Reappointment is allowed. A successor is a member retires prematurely, for the rest of his time in Office to order.
(4) the Board of Trustees decides on all basic questions, which include the Foundation remit, in particular on the determination of the budget and the annual accounts. It provides guidelines for the procurement and use of Stiftungsmittel and monitored the activities of the Board. The further regulates the Statute.
(5) the Board of Trustees is quorate if more than half of its members are present. Decisions are taken by a simple majority; vote the vote of the Chairman decides.
§ 16 Executive Board (1) the Management Board consists of three members. They are appointed by the Foundation Council with a majority of six Siebteln for a period of five years.
(2) the Executive Committee leads the ongoing operations of the Foundation, in particular he executes the decisions of the Board of Trustees. He is responsible for the use and allocation of Stiftungsmittel, as well as for monitoring its suitable and economic usage. He represents the Foundation and out of court. The further regulates the Statute.
§ 17 supporting and volunteering are the members of the Board of Trustees and Board of Directors, as far as they are not part-time, volunteer working.
§ 18 supervision (1) the Foundation is subject to the legal supervision of the Federal Ministry of finance.
Third section of article 19 entry into force this law enters into force on the day after the announcement.