Zmiany w prawie dewizowym
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Date
1990
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Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
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Changes in foreign currency law
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.
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Ruch Prawniczy, Ekonomiczny i Socjologiczny, 52, 1990, z. 1, s. 67-77