Key Benefits:
law no 467
LAW OF DECEMBER 26, 2013
EVO MORALES AYMA
CONSTITUTIONAL PRESIDENT OF THE PLURINATIONAL STATE OF BOLIVIA
For the Plurinational Legislative Assembly, it has The following Act:
THE PLURINATIONAL LEGISLATIVE ASSEMBLY,
D E C R E T A:
Article 1. (APPROVAL OF THE OIL SERVICES CONTRACT). In accordance with the
established by Article 362, Paragraph II, of the Constitution of the State and the authorization provided by Law No 406 of 20 September 2013, the contract of oil services for the exploration and exploitation of reserved areas, in favor of Yacimientos Petrolíferos Fiscales Bolivianos-YPFB, corresponding to the Cedro Area, located in the Department of Santa Cruz, signed on October 23, 2013, between YPFB and the company PETROBRAS BOLIVIA S.A.
ARTICLE 2. (MIXED ECONOMY COMPANY). The Society of Mixed Economy-S.A.M. to be constituted
between YPFB and the company PETROBRAS BOLIVIA S.A., will be governed entirely within the framework of the Code of Commerce, General Law of the Work and the statutes approved for that society, being applicable to the S.A.M. only to Article 5 of Law No 1178 of 20 July 1990, of Government Administration and Control, in respect of the duty to inform the competent public entities about the destination, form and result of the management of the resources provided by the State to the S.A.M. and present its properly audited financial statements.
Article 3. (STATE CONTRIBUTIONS).
I. The state contribution to the S.A.M. is approved to be constituted between YPFB and the company PETROBRAS BOLIVIA S.A.,
itself that reaches Bs.4,851,000.-(Four Million Ochocidentos Fifty and One Mil 00/100 Bolivianos), amount subscribed and paid in the framework of Article 430 of the Trade Code.
II. YPFB is authorized to make the state contribution of the amount subscribed and paid in favor of the S.A.M., only when it is
approved the declaratory of trade of one or more fields within the area of contract for the Area Cedro, said amount must be with YPFB's own economic resources.
Remit to the Executive Body for constitutional purposes.
Is given in the Session Room of the Plurinational Legislative Assembly, at the seventeen days of December
of the year two thousand thirteen.
Fdo. Lilly Gabriela Montano Viana, Betty Asunta Tejada Soruco, Andres Agustín Villca Daza, Claudia Jimena Torres Chavez, Marcelo Elio Chavez, Angel David Cortes Villegas.
Therefore, it has been enacted to comply with the law of the State. Plurinational of Bolivia.
Palace of Government of the city of La Paz, twenty-six days of the month of December of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramon Quintana Taborga, Juan Jose Hernando Sosa Soruco, Ana Teresa
Morales Olivera, Daniel Santalla Torrez, Amanda Davila Torres.
