Page:British and Foreign State Papers, vol. 155 (1958).djvu/691

Rh purposes of the undertaking (real estate, machinery, furnishings, stocks of materials and goods, means of transport, cash and securities serving the purpose of the undertaking, etc.). All rights connected with the undertaking, including licences and permits (claims, patents, other industrial property, leasehold rights, etc.), as also all liabilities (within the limits laid down in Clause 8 below), will pass into the hands of the State.

2. The owner of a private firm coming under the present Decree is required to submit a report relating to the under taking and to all assets serving the purposes of the undertaking which are not at the place where the undertaking operates. This report must be submitted to the Central Corporation of Banking Companies within 30 days of the coming into force of the present Decree, or if the owner is resident abroad, to the nearest Hungarian diplomatic authorities within 90 days of the coming into force of the present Decree.

3. Owners failing to comply with their obligation to report within the prescribed time-limits will not be entitled to claim compensation.

4. The State will not be responsible for liabilities of an owner which are unconnected with his undertaking.

Clause 6

1. All those movables (including rights, licences and permits which serve the purposes of an undertaking taken into possession by the State (nationalised) under the present Decree, including also means of transport, will become State property together with the undertaking irrespective of whether they are owned by the former owner of the undertaking or by a third party.

2. The State will also become the owner of real estate which either exclusively or predominantly serves the purposes of an undertaking transferred to State ownership (nationalised) in terms of the present Decree, irrespective of whether the said estate is owned by the former owner of the undertaking or by a third party. In the event of that part of the estate which serves the purposes of the undertaking being naturally separable from the rest of the estate, the appropriate departmental Minister may order the division of the real estate in question.

Clause 7

All patents, trade-marks and models (samples) registered prior to 1st September, 1949, which may be used for the