Item description for Lot 8 Bond Federal fund for loans to rapid development of economy 1000-10000000

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The Federation Fund for lending to quicker development of the underdeveloped republics and autonomous provinces

In order to encourage faster development of economically underdeveloped republics and autonomous regions and reducing differences in the level of development of each economically underdeveloped republics and autonomous provinces, especially economically extremely underdeveloped Socialist Autonomous Province of Kosovo in relation to the average level of development of Yugoslavia, the Federation Fund for lending quicker development of the underdeveloped republics and autonomous provinces (hereinafter: the Fund), established by the Law on the Fund of the Federation for lending quicker development of the underdeveloped republics and autonomous provinces ("Official Gazette of SFRY", Nos. 33/71 and 5/72) continues to operate in accordance with the provisions of this law.

The Fund is a special organization of the federation through which the lending and encouraging faster development of the economically underdeveloped republics and autonomous provinces funds allocated for this purpose provided, together with the funds of these republics and autonomous provinces and other means used for their faster development.
The Fund also conducts other activities of interest for the realization of the policy of faster development of the economically underdeveloped republics and autonomous provinces, established by this law and other federal regulations.

The Fund is a legal entity with rights, obligations and responsibilities that he has on the basis of the SFRY Constitution, this law and other federal regulations.
The Fund has a statute.
The Fund has its own organs.
The headquarters of the Fund in Belgrade.

In order to exercise the functions referred to in Article 1 of this law, the Fund performs in particular the following tasks and duties:
1) ensure the implementation of part of the assets of the Fund which are formed by pooling labor and resources in organizations of associated labor and keeps track of these funds;
2) ensure the cash flow of the Fund, which are formed from the compulsory loan, keep records on the charging of these funds and analyzing their affluence;
3) distribute the assets of the Fund which are formed from the compulsory loan fund in the form of loans to economically underdeveloped republics and autonomous provinces in the relationships that are established by federal law and keeps records on the deployment of such funds;
4) ensure the remuneration of loan installments which are given from the Fund and to restore the compulsory loan payers and to keep adequate records;
5) monitors, analyzes and provides insight into the purposeful and efficient use of resources of the Fund respecting the goals and tasks of the rapid development of the underdeveloped republics and autonomous provinces, established in the social plans of the Republic, the economic plans of the Autonomous Provinces and the social plan of Yugoslavia;
6) cooperate with the Yugoslav Chamber of Commerce, Chamber of Commerce and Chambers of Commerce autonomous regions in encouraging, monitoring and analyzing the association part of the assets of the Fund among organizations of associated labor in the developed and the underdeveloped republics and autonomous regions, and between and among the economically underdeveloped republics and autonomous province;
7) monitors and analyzes the performance of measures to encourage faster development of the economically underdeveloped republics and autonomous provinces;
8) acts on the provision and deployment of the right to buy foreign currency for the purposes of the Fund, in accordance with the federal law;
9) perform other tasks and activities of importance to the efficient functioning of the Fund established by this law and other federal regulations.
The Fund is obliged to accomplishing tasks and activities referred to in paragraph 1 of this Article at least once a year to the Assembly of Yugoslavia, the Federal Executive Council, the Executive Council and the Assembly of the Republic Executive Council of the Assembly of the autonomous province and the Chamber of Commerce of Yugoslavia.

Assets of the Fund which are formed from the compulsory loan, which is in the form of loans they economically underdeveloped republics and autonomous provinces, are kept in the account of the Fund in Social Accounting and represent the Fund's deposit with the National Bank of Yugoslavia.The Federation guarantees for liabilities of the Fund arising from assets of mandatory loan for lending to quicker development of the underdeveloped republics and autonomous provinces.

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