Law 8/2008 Of 12 June, From Extraordinary Credit In Order To Finance The Costs Of The Acquisition Of 4% Of The Share Capital Of The Company Ctrasa

Original Language Title: Llei 8/2008, del 12 de juny, de crèdit extraordinari per finançar les despeses derivades de l'adquisició del 4% del capital social de la societat CTRASA

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Law 8/2008 of 12 June, from extraordinary credit in order to finance the costs of the acquisition of 4% of the share capital of the company CTRASA as the General Council in its session of June 12, 2008 has approved the following: law 8/2008 of 12 June, from extraordinary credit in order to finance the costs of the acquisition of 4% of the share capital of the company, P.O BOX CTRASA participates in the waste treatment Centre society d'Andorra, SA (CTRASA), at the rate of 34% of the share capital: 5% since its creation, in accordance with the provisions of the law relating to the construction and operation of CTRASA through administrative concession, of 31 October 2002, and 29% as a result of the purchase of the shares in possession of Andorran members of society (Public Works Armengol, SA, Empub SA and techno-Energy , SL) in nominal value of 1,908,026 euros (29% of 6,579,400 euros), adopted at the meeting of the Board of Directors of FEDA of 23 June 2006.

Given the strategic nature of waste management in the country and the importance of the use of energy that is derived from both the Government, FEDA are interested in getting the majority of the share capital in this society, as the law 22/2007, of 22 November concerning the concessionaire waste treatment Centre, SA.

Seen that the urgency of this expense is derived from the fact that there is agreement with the vendor partner on the completion of the sale, which would allow them to purchase from the concessionaire waste treatment Centre of Andorra, SA, the percentage of shares enough to obtain on the part of the public administration of the control in the concessionaire, in accordance with article 1 and in accordance with the first final provision of the law 22/2007 , from November 22, relative to the concessionaire waste treatment Centre of Andorra, SA.

Seen that the nominal value of the shares is 263,176 euros (4% of 6,579,400 euros), a figure that matches the accounting value of the shares as of December 31, 2007;

Seen that due to the specific nature of this transfer of shares, is not planning any credit to cope with budget this expense in the budget for the financial year 2008 of FEDA, since the same expenditure depended on the approval of the Bill concerning the concessionaire waste treatment Centre, SA.

Given that there is no budgetary provision in the budget for 2008, 82110, P.O BOX starting in the center of waste treatment, in order to proceed with the acquisition of the shares mentioned;

Seen that the Government by agreement of 5 March 2008 has approved an advance of funds to the amount of 263,176 euros to give the corresponding budget heading;

The Government, with a report from the General intervention, has agreed to the presentation of the following: Article 1 approves an extraordinary credit for an amount of 263,176 euros, aimed at the acquisition of 4% of the share capital of the company CTRASA, for the heading of the budget of FEDA, 82110-waste treatment Centre.

Article 2 This extraordinary credit will be funded through cash remaining.

Article 3 this Act comes into force on the same day to be published in the official bulletin of the Principality of Andorra.

Casa de la Vall, June 12, 2008, Joan Gabriel i Estany 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 Nicolas Sarkozy President of the French Republic and the Bishop of Urgell Co-prince of Andorra Co-prince of Andorra

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