November 22 law
HERNAN MISSILES ZUAZO
CONSTITUTIONAL PRESIDENT OF THE REPASBLICA
For How Much: The Honorable National Congress has sanctioned the following Law:
ArtA-ass 1A ° â€ " To give effect to the privileges entered in the Decree Law No. 4469 raised to the rank of Law by Law of 29 October 1956, the President of the Republic, in its capacity as Chief Executive and Chairman of the National Council of Monetary stabilization, will execute concrete measures to curb the inflationary process, for which the following extraordinary powers are granted:
The President of the Republic with the affirmative opinion The National Council of Monetary Stabilization and the Cabinet Council may conclude contracts on behalf of the State or any state entity, with foreign governments, reserve central banks, commercial banks or other institutions. banks, representatives of government bondholders and any other A-ndole of entities, hiring enterprises or other facilities conducive to the constitution of a reserve fund or of stabilization or for any other purpose to the monetary stabilization, the elimination of restrictions on foreign exchange, and the restoration of the external or internal credit of the country, stipulating in such contracts the necessary and appropriate conditions, not being able to alter the clauses and provisions of such contracts, except agreement between parties.
The President of the Republic may, by way of a Supreme Decree in accordance with the formalities of this Law, make the necessary measures to amend or repeal legal provisions that threaten the financial and credit stability of the country or endanger monetary stability.
The President of the Republic, with the affirmative opinion of the Cabinet Council, will enact all relevant legal provisions that repeal provisions (a) to implement any provisions recommended by the National Council for Monetary Stabilization in fiscal, tax, banking, monetary or public services, or affecting budgets, revenues, expenditures, grants, appropriations, obligations, commitments or projects of any State participation, including any legal provisions concerning the control or fixing of maximum and minimum prices for any kind of goods, goods or goods services.
ArtA-ass 2A ° â€ " The powers granted to the Power Executive in the preceding article shall be of emergency, and therefore its validity shall be of a year from the promulgation of this Law, at the end of which the National Congress may or may not extend this period by means of the approval of another Law.
ArtA-arse 3A ° â€ " It will be recognized by force of Laws to all those provisions that dictate the Executive Branch in compliance with the extraordinary powers conferred by this Law, agree with the requirements of Article 58 (5) and (7) and Article 94 (6) of the State Policy-Policy.
Communicate to the Executive Branch for Constitutional Purposes.
Sessions Room of the H. National Congress.
La Paz, November 20, 1956.
(Fdo.) Ovidio Barbery IbÃ A ± ez, President of the H. Senate National.â€ "RenA n Castrillo Justiniano, President of the H. CA of Diputados.â €" Eufronio Hinojosa, Senator Secretario.â € "Heberto AA ± ez, Senator Secretary ad-hoc.â €" Luis F. Oropeza, Deputy Secretary-to-thâ€ " ZenÃ³n Barrientos Mamani, Deputy Secretary.
Law of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republic of the Republicmonth of November of a thousand nine hundred and fifty-six years.
(Fdo.) HERNAN MISSILES ZUAZO, Constitutional President of the Republic. â € " Hugo Moreno CAERDova, Minister of Finance.