Accounting principles

  1. The Consignment Office assigns an accounting number to each separate consignment according to the legal act from which it originates – which is mandatorily indicated on the receipt of the consigned assets – and, where appropriate, distinct by right holder. For each consignment, an individual internal account is opened, subdivided into sub-accounts by type of assets and by currency.

  2. The registries of the Consignment Office are kept in a double-part flow account – recording the totality of revenues and expenses of the Consignment Office – as well as in a double-part balance sheet. The latter includes the liabilities indicating the total net of assets and sums to be returned by the Consignment Office – as it emerges from the balances added to the individual internal accounts – and the active balance indicating the total of the consigned assets kept by the Consignment Office and the assets recorded under its name. The difference between total liabilities and total active balance is recorded as an accounting balance.

  3. A consignment enters the registries of the Consignment Office at the time of issuance of the receipt by the Consignment Office, also when the issuance of the receipt by Consignment Office is executed by the Administration de l’Enregistrement, des Domaines et de la TVA.

  4. A consignment leaves the registries of the Consignment Office at the time when the Consignment Office either takes the decision to return the consigned assets or transfers the consigned movable assets to the State in execution of article 8 of the 29 April 1999 law on consignments to the State. If the concerned right holder does not take possession of the assets within three months from the day of the restitution decision, these are automatically considered as subject to a new consignment, by the Minister having the Consignment Office in his attributions, from the day of the restitution decision.

  5. The registries of the Consignment Office are recorded in euros.

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