Law 6/2013, Of 9 May, Extraordinary Credit In Order To Finance The Acquisition Of Shares Of The Waste Treatment Centre Society Sa

Original Language Title: Llei 6/2013, del 9 de maig, de crèdit extraordinari per finançar l’adquisició d’accions de la societat Centre de Tractament de Residus SA

Read the untranslated law here: https://www.bopa.ad/bopa/025026/Pagines/7F0FE.aspx

Law 6/2013, of 9 may, extraordinary credit in order to finance the acquisition of shares of the waste treatment Centre society SA since the General Council at its session of 9 may 2013 has approved the following: Law 6/2013, of 9 may, extraordinary credit in order to finance the acquisition of shares of the waste treatment Centre society SA waste treatment Centre Society of SA (CTRASA) , who manages to give the center of the same name, was founded in 2003 with a minority public participation; in particular, the Government underwrote the 15% of the share capital and the public Forces Elèctriques d'Andorra (FEDA), 5%. Subsequently, in accordance with the strategic nature and particularly sensitive in this sector of activity, FEDA was extending its participation in society by means of the purchase of shares to private partners, until authorized by the Act 22/2007, of 22 November, brought its participation in the 38%, which, added to the 15% of the Government, represents a share of 53% of the share capital , so that the public participation in society became the majority.

The society has lived the last few years a serious internal conflict between public and private partners that has come, even in the courts, and that has impacted negatively on the administration of the Centre and in the decision-making process. On the other hand, one of the strategic lines defined in the framework of the Forum and the future are the projects of cogeneration to produce electricity and heat for heating and domestic hot water, using public networks, and the execution of a project of this nature, taking advantage of the facilities of the incinerator plant to supply hot water in their area of influence , would be especially appropriate to their characteristics, and more profitable, by allowing the recovery of the heat that is currently wasted, but its implementation requires to implement technical modifications at the Center and expand the object of the society, and these operations are not proper fit within the framework of the current concession.

For these reasons, the Government would like to recover in advance the total control of waste treatment Center and, through discussions with private partners, has reached a preliminary agreement that allows you to acquire all the shares in private hands and closed at the same time the legal proceedings in progress, and get the full satisfaction in the complaint addressed by the society against its private partners.

Accordingly, the Government and FEDA are interested in acquiring the 470 CTRASA actions that are currently in private hands, to the pro rata share they already have in society; in particular, the Government would acquire 133 actions and would bring its stake to 28.3% of the share capital, and the remaining actions would take and would acquire FEDA 337 its participation in 71,7%.

This acquisition is not foreseen in the Government's budget for 2013, nor in the POWER STATION, but the existence of an agreement with partners vendors on the completion of the sale, justifies the urgency and necessity, and implies that the expenditure cannot be postponed until the following year and that requires the approval of two extraordinary credits , a for an amount of 1,082,811.52 euros in the budget of the Government, and another of 2,743,665.28 euros in the budget of FEDA.

The Government plans to deal with the extraordinary credit in your budget by a collection of larger income for distribution of Telecommunications service, reservation of Andorra. The budgetary account by which this entity by this company is scheduled to make this payment is expandable in nature in accordance with article 4.22 of the budget Law for the year 2013. Regarding the financing of the extraordinary credit in the budget of FEDA, is provided through the transfer of other credits that they love each other and reduïbles which correspond to the cogeneration project of la Comella.

For these reasons, considering the resolution of the Board of Directors of the public Forces Elèctriques d'Andorra February 8, 2013;

Seen the report of the General intervention;

Seen the governmental agreement of March 13, 2013;

The General Council approves this law.

Article 1 in order to finance the acquisition on the part of the Government of 133 shares of the waste treatment Centre Society of SA (CTRASA), approves an extraordinary credit for the financial year 2013 for a total amount of 1.082.811 €,52, in charge of the budget account 820-Department of the environment-environmental control and Management Area 820-82080 Acquisition of shares of public-sector CTRSA-proj-0021-waste management. This extraordinary credit funded by a collection of larger income on concept of "distribution of reserves" of the public telecommunications Service in Andorra.

Article 2 in order to finance the acquisition on the part of the public Forces Elèctriques d'Andorra (FEDA) of 337 shares of the waste treatment Centre Society of SA (CTRASA), approves an extraordinary credit for the financial year 2013 for a total amount of 2,743,665.28 euros, by budgetary account 82080-Acquisition of shares of public sector FEDA. This extraordinary credit is financed by budgetary account 60355-Cogeneration, in which is included the cogeneration project of la Comella.

Final provision this law comes into force the day after being published in the official bulletin of the Principality of Andorra.

Casa de la Vall, 9 may 2013 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