Foreign Claims (Hungary) Settlement Regulations (SOR/70-527)

Regulations are current to 2013-04-29

Foreign Claims (Hungary) Settlement Regulations

SOR/70-527

APPROPRIATION ACTS

APPROPRIATION ACT NO. 9, 1966

Registration 1970-12-08

Regulations Respecting the Determination and Payment out of the Foreign Claims Fund of Certain Claims Against the Government of the Hungarian People’s Republic and its Citizens

P.C. 1970-2078 1970-12-08

His Excellency the Governor General in Council, on the recommendation of the Secretary of State for External Affairs and the Minister of Finance, pursuant to Vote Item 22a in Schedule B of Appropriation Act No. 9, 1966, is pleased hereby to make the annexed Regulations respecting the determination and payment out of the Foreign Claims Fund of certain claims against the Government of the Hungarian People’s Republic and its citizens.

SHORT TITLE

1. These Regulations may be cited as the Foreign Claims (Hungary) Settlement Regulations.

INTERPRETATION

2. In these Regulations,

“Agreement”

“Agreement” means the Agreement between the Government of Canada and the Government of the Hungarian People’s Republic relating to the Settlement of Financial Matters, signed at Budapest, June 1, 1970; (Accord)

“Canadian citizen”

“Canadian citizen” has the same meaning as in Article III of the Agreement; (citoyen canadien)

“Chief Commissioner”

“Chief Commissioner” means the Chief Commissioner of the Commission; (commissaire en chef)

“claim”

“claim” means a claim by a Canadian citizen or the Canadian Government against the Government of the Hungarian People’s Republic or against a Hungarian citizen in respect of any of the following matters:

  • (a) property, rights and interests, whether legally or beneficially owned, including debts, other than bonded debts, affected directly or indirectly by Hungarian measures of nationalization, expropriation, state administration of other similar measures arising out of structural changes in the Hungarian economy and regulations made or administrative action taken thereunder that have taken in effect before the date of the Agreement;

  • (b) debts arising out of contracts of insurance concluded on or before December 7, 1941, that are due from Hungarian citizens;

  • (c) shares in Hungarian banking companies affected by the Hungarian Law No. XXX of December 1, 1947, being shares that, from the date of that Law to the date of the Agreement, have been continuously owned by Canadian citizens;

  • (d) obligations arising out of Articles 24 and 26 of the Treaty of Peace with Hungary of February 10, 1947; and

  • (e) obligations arising out of Articles 231 and 232 of the Treaty of Trianon of June 4, 1920; (réclamation)

“Commission”

“Commission” means the Foreign Claims Commission established by Order in Council P.C. 1970-2077 of 8th December, 1970; (Commission)

“Fund”

“Fund” means the special account known as the Foreign Claims Fund established in the Consolidated Revenue Fund by the Minister of Finance pursuant to Vote 22a of Appropriation Act No. 9, 1966; (Caisse)

“Hungarian citizen”

“Hungarian citizen” has the same meaning as in Article III of the Agreement; and (citoyen hongrois)

“Minister”

“Minister” means the Secretary of State for External Affairs. (Ministre)