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Jurisdiction
Title Export Promotion Act
Instrument Number 1033 GLIN ID 71503
Instrument Class
LawFind Additional Information
Issuance Date 20/03/1962
Publication
KwanboFind Additional Information
Publication Issue Number
3100 Find Additional Information
Publication Date 20/03/1962
Publication Specifics  
Related Legal Resources No related legal resources available
Summary
(English)
Law 1033 of March 20, 1962 enacts the Export Promotion Act. Aims to improve international payments and contribute to the establishment of the foundation of self-supporting economy through the promotion of exports. Allows the Government to offer a preference for using foreign exchanges necessary for the importation of raw materials for finished products for export; restricts the import permission to an import-export businessperson who has no certain standard of actual results in export; allows any person who shows actual results in export and has established an overseas branch or agency to organize a private standing trade delegation; allows an import-export businessperson who intends to borrow money for trade from a commercial bank to obtain on loan with joint guarantee when three or more import-export businesspersons who have a certain standard of actual results in export guarantee the obligation jointly; and requires the Minister of Commerce and Industry, in consultation with the competent minister, to make a public notice of the quantity, amount, and other necessary matters of an item for which import-export permission is required by other laws and ordinances. (10articles; 797-798pp.)
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Summary record last updated on 02/03/2009