The General Settlement Fund for Victims of National Socialism was established in the wake of the Washington Agreement of 2001 and endowed with 210 million US Dollar (Federal Law Gazette I 12/2001). Its aim was to bring about a comprehensive resolution to all open questions of compensation for victims of National Socialism for losses and damages which were suffered as a result of or in connection with events that occurred on the territory of the present-day Republic of Austria during the National Socialist era.
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The purpose of the General Settlement Fund was to bring about a comprehensive resolution to open questions of compensation and to acknowledge Austria’s moral responsibility for losses of assets suffered by the victims of the Nazi regime in Austria between 1938 and 1945 in the form of voluntary payments. Losses which had not yet been the subject of previous Austrian restitution and compensation measures, or had only been dealt with insufficiently, were the primary focus.
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An Arbitration Panel for In Rem Restitution installed with the General Settlement Fund decided on applications for restitution of assets. Possible objects of restitution were real estate or movable property of Jewish communal organizations which had been seized from their owners during the National Socialist period and which were publicly-owned (by the Federation, provinces and certain municipalities) on the cut off day of the agreement, 17 January 2001.
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