Loi du 8 juillet 1950 portant interprétation de certaines dispositions des arrêtés grand-ducaux du 14 octobre 1944 et du 19 mars 1945 concernant l'échange monétaire. | http://data.legilux.public.lu/eli/etat/leg/loi/1950/07/08/n2/jo — Luxembourg law | Esheria

Loi du 8 juillet 1950 portant interprétation de certaines dispositions des arrêtés grand-ducaux du 14 octobre 1944 et du 19 mars 1945 concernant l'échange monétaire.

This provision is the preamble of a Luxembourg law of 8 July 1950 and contains the formal introductory statements before the operative text.

AI-assisted research synopsis — verify against the official legal text below.

Jurisdiction
Luxembourg
Instrument
Act or statute
Citation
http://data.legilux.public.lu/eli/etat/leg/loi/1950/07/08/n2/jo
Status
In force
Version
Undated source snapshot
Language
fr
Updated
Official source
View official record ↗
banking currency conversion foreign payments foreign-held deposits funds transfer postal cheque offices sequestration

Statute overview

About this statute

This provision is the preamble of a Luxembourg law of 8 July 1950 and contains the formal introductory statements before the operative text. Foreign-currency amounts credited by certain foreign financial institutions are converted into francs only up to the amount actually credited before 11 September 1944; the same rule also applies to postal cheque offices in Germany and Luxembourg, with 1 September 1944 used instead. Certain bank and deposit assets linked to enemy nationals or assimilated stateless persons must stay denominated in RM until the Finance Minister definitively lifts the enemy-property sequestration. Foreign-currency accounts held in certain Belgian/war-era monetary units remain in that currency, but they may be converted only with the Minister of Finance’s express authorization.