Zakon o ratifikaciji Sporazuma med Vlado Republike Slovenije in Vlado Kraljevine Norveške o konsolidaciji dolga Republike Slovenije (BNOKD)

The Government of the Republic of Slovenia (hereinafter referred to as ”the Government of Slovenia”) and the Government of the Kingdom of Norway (hereinafter referred to as ”the Government of Norway”),
    considering;
    – the independence of the Republic of Slovenia, one of the successor states of the former Socialist Federal Republic of Yugoslavia,
    – the guidelines for the treatment of the debt of the successors states of the former Socialist Federal Republic of Yugoslavia proposed by the Chairman of the Paris Club in his letter dated 25 September 1992 and accepted by the Government of Slovenia in a letter of the Finance Minister dated 27 October 1992 as well as the exchange of letters on these guidelines between the Chairman of the Paris Club and the Government of Slovenia dated 6 January 1993, 23 April 1993 and 5 July 1993, desiring to conclude an Agreement (the Agreement) concerning the consolidation of the external debt service obligations of the Republic of Slovenia originating from the payment obligations of the former Socialist Federal Republic of Yugoslavia,
    have agreed as follows:

Article 1

The provisions of this Agreement shall apply to:
    Debt service due under the bilateral consolidation agreements between the Government of Norway and the former Federal Executive Council of the Assembly of the Socialist Federal Republic of Yugoslavia signed on 5 December 1984 (Paris Club Agreed Minute 22 May 1984), 23 April 1986 (Paris Club Agreed Minute 24 May 1985), 4 May 1987 (Paris Club Agreed Minute 13 May 1986), and 2 February 1989 (Paris Club Agreed Minute 13 July 1988).

Article 2

The Republic of Slovenia is responsible for 16,39% of the non-allocated debt that is originating from the ”Loan agreement between the Kingdom of Norway and the Socialist Federal Republic of Yugoslavia” dated 14 October 1983 which will be repaid to the Norwegian Ministry of Finance according to the original repayment schedule. The repayment arrangements for the non-allocated debt are specified by an exchange of letters between the Norwegian Ministry of Finance and the Slovenian Ministry of Finance. The list specifying the debt mentioned in the exchange of letters between the Norwegian Ministry of Finance and the Slovenian Ministry of Finance can be altered, amended or added to only after mutual agreement
    The repayment provisions of this Agreement do not apply to the aforementioned non-allocated debt of the Republic of Slovenia.

Article 3

The amounts covered by this Agreement (excluding Article 2) have been specified in the list attached to a Protocol signed between Nova Ljubljanska Banka d.d. and The Guarantee Institute for Export Credits (GIEK), which forms an integral part of this Agreement.

Article 4

A) Amounts of principal and interest (including late interest) under the consolidation agreements mentioned in Article 1 and due by the date of entry into force of this Agreement, shall be repaid no later than 30 days after the date of entry into force of this Agreement. Interest and late interest will be calculated according to the provisions in the corresponding consolidation agreements mentioned in Article 1.
    B) Amounts of principal and interest due after the date of entry into force of this Agreement shall be repaid on the due dates according to the provisions in the corresponding consolidation agreements mentioned in Article 1. Interest and late interest will be calculated according to the provisions in the corresponding consolidation agreements.

Article 5

If an amount paid under the Agreement is not sufficient to cover the amount due, the amount paid shall be allocated against the debts in the following priority; firstly against interest accrued after the due date, secondly against interest accrued up to the due date (inclusive) and thereafter against principal.

Article 6

All payments covered by Article 4 shall be effected by Nova Ljubljanska Banka d.d. to GIEK or its designated agency.

Article 7

The Government of Slovenia will accord to the Government of Norway a treatment not less favourable than that which may be accorded to any other creditor for the consolidation of debts of a comparable term.

Article 8

Both parties shall endeavour to settle any disputes by negotiation or by such other means they may agree upon. If the two Governments fail to reach a settlement by negotiation, the dispute shall be referred to and settled by an arbitrator to be agreed upon by the two Governments. The decision of the arbitrator shall be final and binding on the two Governments. If the two Governments can not agree on an arbitrator, he shall be nominated at the request of one of the Governments by the President of the International Court of Justice.

Article 9

All provisions of this Agreement enter into force on the date the Government of Slovenia notify the Government of Norway that the internal Slovenian requirements for the entry into force have been fulfilled and terminate when the last payment has been received by GIEK or its designated agency.
    In witness whereof the undersigned, being duly authorized thereto by their respective Governments, have signed this Agreement.
    Done at Oslo, this 4th day of May 2001 in two originals in the English language.