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Lithuania (434) > Economic and social policy (44)

Name: Law No. XII-828 of 17 April 2014 "On the Euro Adoption in the Republic of Lithuania".
Country: Lithuania
Subject(s): Economic and social policy
Type of legislation: Law, Act
Adopted on: 2014-04-17
Entry into force:
ISN: LTU-2014-L-99555
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=99555&p_lang=en
Bibliography: Legislation On-Line Legislation On-Line Seimas of the Republic of Lithuania , Lithuania PDF in Lithuanian PDF in Lithuanian PDF in English PDF in English (consulted on 2015-07-16)
Abstract/Citation: Establishes, inter alia, the main concepts, categories, the euro adoption process, the legal grounds and principles of exchange of the national currency- litas- to the euro, provision with banknotes and coins, their distribution, destruction and exchange; also defines the wage rates in euro and litas, payment and conversion of social benefits, references to the litas and other related amounts in legal instruments, display of prices and other amounts in euro and in litas; deals with the adaptation of accounting, tax payment and declarations to the euro adoption, use of litas and euro after the adoption of euro.
Also, by this law, the Seimas proposes to the Government of Lithuania, inter alia, to prepare and submit to the Seimas drafts of laws and other legal acts related to the implementation of this Law, develop and submit draft legal acts which establish the amounts related to wages of politicians, judges, state officials and civil servants, pensions, social benefits set in litas.
Article 32 enters into force on the date when the European Council makes a decision to abrogate the derogation of the Republic of Lithuania under Article 140(2) of the Treaty on the Functioning of the European Union.

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