LAW NO 406
SEPTEMBER 20, 2013 LAW
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. (CONTRACT AUTHORIZATION FOR PETROLEUM SERVICES). Pursuant to Article 362, Paragraph II of the Constitution of the State, Yacimientos Petrolíferos Fiscales Bolivianos-YPFB is authorized to sign the contract of oil services for the exploration and exploitation of reserved areas in favor of YPFB, corresponding to the Cedro Area, located in the Department of Santa Cruz, with the company PETROBRAS BOLIVIA S.A.
Article 2. (AUTHORIZATION CONTRACT OF CESION). Once the declaratory and approval of the trade of one or more fields within the area of the contract referred to in the previous Article, is authorized to YPFB and to the holder of the period of exploration, the subscription of the contract of cession established in the Annex? G? of this contract, in favor of the Society of Mixed Economy-S.A.M., to settle between YPFB and the company PETROBRAS BOLIVIA S.A., for the declared commercial fields.
Article 3. (MIXED ECONOMY COMPANY).
I. The S.A.M., will be a company formed in the framework of the Commercial Code, which for the development of its activities
must conform to the current legal regulations.
II. The S.A.M., will be governed entirely by the Code of Commerce and shall be subject to the provisions of Article 5 of Law No.
1178 of 20 July 1990, of Government Administration and Control, having the duty to inform the competent public entities of the destination, form and result of the management of the resources provided by the State to that S.A.M. and present its audited financial statements.
Remit to the Executive Body for constitutional purposes.
It is given in the Session Room of the Plurinational Legislative Assembly, at the twelve days of the month of September 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 Cortez Villegas.
Therefore, it is enacted to have and comply with the Law of the Plurinational State of Bolivia.
Department of Santa Cruz, twenty days of the month of September of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramon Quintana Taborga, Luis Alberto Arce Catacora, Juan Jose Hernando Sosa Soruco, Amanda Davila Torres.