Law 16/2016, 20 October, To Amend The Law 10/2013, Of 23 May, Of The Institut Nacional Andorrà De Finances

Original Language Title: Llei 16/2016, del 20 d’octubre, de modificació de la Llei 10/2013, del 23 de maig, de l’Institut Nacional Andorrà de Finances

Read the untranslated law here: https://www.bopa.ad/bopa/028067/Pagines/CGL20161109_11_15_01.aspx

CGL20161109_11_15_01 law 16/2016, 20 October, to amend the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances law 16/2016, 20 October, to amend the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances since the General Council in its session of October 20, 2016 has approved the following : Act 16/2016, 20 October, to amend the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances preamble the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances brought to this institution an important boost to give it the means and skills needed to achieve their objectives in the context of the financial sector is increasingly global and complex. The international expansion of the Andorran financial system, the evolution of financial markets at international level or specific commitments on the part of Andorra with the European Union with the signature of the Monetary agreement are some examples that illustrate the constant need to increase and specialized resources of the authority of the Andorran financial system.
In this sense it is necessary to remove some limitations in relation to the nationality of the members of the Board of Directors and of the management of the INAF to provide that they can be incorporated into these responsibilities people with professional experience and technical skills appropriate to be able to develop them.
Article 1. Modification of article 11.4 modifies the article 11.4 of the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances, with the following content: "Article 11. Requirements and 4 incompatibilities. The members of the Board of Directors of the INAF should be preferably of Andorran nationality; but you can resort to Andorran not personalities, by reason of their competence, knowledge and experience in the field. In any case, the president of the Board of Directors must have Andorran nationality. ".
Article 2 will remove the fifth paragraph of article 16 of the law 10/2013, of 23 May, of the Institut Nacional Andorrà de Finances.
Final provision this law shall enter into force the day after its publication in the official bulletin of the Principality of Andorra.
Casa de la Vall, 20 October 2016 Vicenç Mateu Zamora Syndic General Us the co-princes the sancionem and promulguem and let's get the publication in the official bulletin of the Principality of Andorra.
Joan Enric Vives Sicília François Hollande Bishop of Urgell, President of the French Republic Co-prince of Andorra Co-prince of Andorra