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Title: Zmiany w prawie dewizowym
Other Titles: Changes in foreign currency law
Authors: Gomułowicz, Andrzej
Issue Date: 1990
Publisher: Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
Citation: Ruch Prawniczy, Ekonomiczny i Socjologiczny, 52, 1990, z. 1, s. 67-77
Abstract: The previous currency law of Nov. 22, 1983 imposed many restrictions on currency transactions, making it impossible to implement market mechanisms into that sphere of economic activity. Basic assumptions of a new Foreign Currency Act of Feb. 15, 1989 is the principle according to which the duty to obtain a permit to enter into a foreign currency transaction is required only in matters expressly stated in the Act. It means that the Act introduces freedom of foreign currency transactions in relations indifferent from the point of view of economic and foreign currency interests of the State. Besides, the new law provides for statutory guaranties of foreign currency property rights. However, it also imposes on economic units the duty to resell to the foreign currency banks part of those units' revenues in foreign currency. The Act introduces also foreign currency auctions, open for all economic units. The auction price of foreign currency is to be shaped by supply/demand rules. The Act, in an attempt to protect Polish currency, introduces the duty to obtain foreign currency permit for payments for goods, services and labour if these payments are to be effected in Poland between so-called domestic persons. The permit is necessary also in case of taking Polish currency and Polish securities abroad. A new solution is the provision allowing the retired persons who receive their pensions from foreign insurance companies to collect part of their allowances in foreign currency. The new Law, although not free from defects, is a step in the right direction. Future amendment, justified by the requirements of social and economic praxis, are nonetheless indispensable. They should be aimed at furthering the liberalization of foreign currency law.
ISSN: 0035-9629
Appears in Collections:Ruch Prawniczy, Ekonomiczny i Socjologiczny, 1990, nr 1

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