Law 379

Original Language Title: Ley 379

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here:

Law No. 379 law of 17 May 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. OIL SERVICES CONTRACT (AUTHORIZATION). In accordance with the provisions of article 362, paragraph II, of the political Constitution of the State, authorizes Yacimientos Petrolíferos Fiscales Bolivianos - YPFB, sign the contract of services oil tankers for the exploration and exploitation of AREAS reserved, in FAVOR of YPFB, corresponding to the AZERØ AREA, located in the departments of Santa Cruz and Chuquisaca, with TOTAL E & P Bolivia (Bolivia Branch) and GP exploration and production SL (branch Bolivia) companies.
Article 2. (AUTHORIZATION OF CONTRACT OF ASSIGNMENT). Once issued the Declaration and approval of the commerciality of one or several fields within the area of the contract, designated in the preceding article, is authorized to YPFB and the holder of the period of exploration, the signing of the contract of transfer laid down in the annex "g" of the said contract, in favour of the mixed economy company - S.A.M. to settle between YPFB and TOTAL E & P Bolivia (Bolivia Branch) and GP exploration and production SL (Bolivia Branch), the declared fields for commercial enterprises.
I mixed economy society - S.A.M., is a company formed in the framework of the code of Commerce, which for the development of their activities shall be in accordance with current legal regulations.
II. the mixed economy company - S.A.M., is entirely governed by the commercial code and is subject to the provisions of article 5 of the law N ° 1178 20 July 1990, law administration and governmental Control, having the duty to inform competent public authorities about the destination, form and result of the management of the resources provided by the State such S.A.M. and submit their audited financial statements.
Refer to the Executive Body for constitutional purposes.
Two thousand thirteen is given in the room of sessions the Assembly Legislative plurinational, thirteen days of the month of may of the year.
FDO. Lilly Gabriela MONTAÑO Viana, Betty Asunta Tejada Soruco, Andres Agustin Villca Daz, Marcelina Chavez Salazar, Marcelo Elio Chavez, Carlos E. Subirana G.
I therefore enacted it is and meets as a law of the plurinational State of Bolivia.
Palace of Government of the city of the peace, to the seventeen days of the month of mayo of the year two thousand thirteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Ana Teresa Morales Olivera, Luis Alberto Arce Catacora, Mario Virreira Iporre Minister of mining and metallurgy and acting of hydrocarbons and energy, Daniel Santalla Torrez, Amanda Davila Torres.