Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium — John Shaqi
Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of BelgiumSolvay, Ernest
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Social Comptabilism: The Cheque and Clearing Service in the Austrian Postal Savings Bank. Proposed Law laid before the Chamber of Representatives of Belgium
Solvay, Ernest
Postal savings banks; Postal savings banks -- Austria
Law of November 19^{th} 1897
_containing alterations in the Law of May 28^{th} 1882 (R. G. Bl.
N^o 56) and decisions with regard to the Orders' (Cheque and
Clearing) Service of the Post Office Savings Bank (R. G. Bl.
N^o 133)._
With the consent of the two Houses of the Imperial Council I ordain as
follows:
§ 1.
The arrangements of the Law of May 28^{th} 1882, contained in the
Articles 5, 6, 7, 8 and 13 (_R. G. Bl._ N^o 56) will no longer be in
force.
In their stead will come the following arrangements, indicated in the
articles bearing the same numbers.
(_The articles altered: 5, 6, 7, 8 and 13, are with their new text
given in Appendix I, containing the Law of May 28^{th} 1882._)
§ 2.
To the existing Orders' (Cheque and Clearing) Service of the Post
Office Savings Bank the modifications in the Law of May 28^{th} 1882
(_R. G. Bl._ N^o 56) as well as the alterations refered to in § 1 of
the present Law, have no application.
An exception, however, occurs with reference to articles 1, 20 and 21
of the above mentioned Law which are to be applied to the aforesaid
service conformably to their sense.
In addition to which the Government is authorized to regulate this
service by way of ordinances.
Apart from such regulations the service is to proceed according to the
following determinations.
§ 3.
The administration and keeping of the accounts of the Orders' (Cheque
and Clearing) Service at the Post Office Savings Bank are to be carried
on separately from those of the Savings' service.
Participation in the Cheque service with or without inclusion in the
Clearing service is to be granted by the Post Office Savings Bank on
paying in a guarantee deposit.
The Post Office Savings Bank will open an account for each participant.
§ 4.
The guarantee deposit remains in the Post Office Savings Bank as long
as the holder of the account continues a participant in the Cheque
service and contingently also in the Clearing service.
In case a holder of an account on the one side, or the Post Office
Savings Bank on the other, wishes to give notice to withdraw, which
either can do at any time, the guarantee-deposit will, within a
fortnight at latest after receiving the notice, be repaid.
To the Post Office Savings belongs also the right by giving notice
of the repayment of the guarantee-deposit to cause the immediate
withdrawal of a participant and it has also the right to decline,
without giving any reason a request to participate in the Cheque and
Clearing service.
§ 5.
The amount of the guarantee-deposit, which is on every occasion to be
paid in specie, will be always fixed by way of ordinance.
This fixing can be arranged in such a way, that in the event of the
whole transactions exceeding an agreed maximum sum the guarantee
deposit is to be increased.
§ 6.
The rate of interest for deposits in the Orders' (Cheque and Clearing)
service cannot rise higher than two per cent per annum.
Public-domain text, read in full here on John Shaqi.
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