Law 467

Original Language Title: Ley 467

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/150427

Law No. 467 law of 26 of December of 2013 EVO MORALES AYMA President constitutional of the PLURINATIONAL State of BOLIVIA, by how much, the plurinational Legislative Assembly, has sanctioned the following law: the Assembly Legislative PLURINATIONAL, D E C R E T A: article 1. (APPROVAL OF THE OIL SERVICES CONTRACT). In accordance with the provisions of article 362, paragraph II, of the political Constitution of the State and authorization by the law N ° 406 of 20 September 2013, approves the contract oilfield services for the exploration and exploitation of reserved areas, in favour of Yacimientos Petrolíferos Fiscales Bolivianos - YPFB, corresponding to the Cedar Area, located in the Department of Santa Cruz signed in date 23 October 2013, between YPFB and PETROBRAS BOLIVIA S.A. Artículo 2. (SOCIETY OF MIXED ECONOMY). The mixed economy company - S.A.M. to be between YPFB and PETROBRAS BOLIVIA S.A., a company will be entirely governed within the framework of the code of Commerce, General labour law and the statutes approved for this company, being only applicable to the S.A.M. Article 5 of the law No. 1178 of 20 July 1990, of administration and governmental Control referring specifically to the duty to inform the competent public authorities on fate, form and result of the management of the resources provided by the State to the S.A.M. and submit their financial statements duly audited.
Article 3. (STATE SUPPORT).
I was approved the State contribution for the S.A.M. be constituted between YPFB and PETROBRAS BOLIVIA S.A., same company which reaches to Bs.4.851.000.-(four million eight hundred fifty-one thousand 00/100 Bolivianos), amount subscribed and paid in the context of the article 430 of the code of Commerce.
II. authorising YPFB make the State contribution of the amount subscribed and paid on behalf of the S.A.M., only when it is approved the Declaration of commerciality of one or more fields in the contract area to the Area cedar, this amount should be with economic resources of YPFB.
Refer to the Executive Body for constitutional purposes.
Two thousand thirteen is given in the room of sessions the Assembly Legislative plurinational, the seventeenth day of the month of December of the year.
FDO. Lilly Gabriela MONTAÑO Viana, Betty Asunta Tejada Soruco, Andres Agustin Villca Daza, Claudia Jimena Torres Chávez, Marcelo Elio Chavez, Angel David Cortés Villegas.
I therefore enacted it is and meets as a law of the plurinational State of Bolivia.
Government Palace of the city of La Paz, the twenty-sixth day of the month of December of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Juan José Hernando Sosa Soruco, Ana Teresa Morales Olivera, Daniel Santalla Torrez, Amanda Davila Torres.