Powers Extraordinary. - November 22, 1956 Law. - Otorganse To The President Of The Republic, Aimed To Curb The Inflationary Process.

Original Language Title: FACULTADES EXTRAORDINARIAS.— LEY DE 22 DE NOVIEMBRE DE 1956.— OTÓRGANSE AL PRESIDENTE DE LA REPÚBLICA, TENDIENTES A FRENAR EL PROCESO INFLACIONARIO.

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/54501

LAW of 22 November HERNAN SILES ZUAZO President constitutional DE LA Repašblica as: the Honorable National Congress has sanctioned the following law: the National Congress, DECREED: Arta-culo 1a ° â €"to give effective implementation to the powers listed in the Decree Law number 4469 elevated to rank of law by law on October 29, 1956, the President of the RepÃ" , in his quality of Chief of the power Executive and of President of the Council national of stabilization monetary, Ejecutara them measures concrete aimed to curb the process inflationary, for which is you give them following powers extraordinary: the President of the Repa ° public with the opinion so of the Council national of stabilization monetary and of the Council of Cabinet may celebrate contracts in name of the State or of any entity state!! , with foreign Governments, Central Bank of reserve, commercial banks or other banking institutions, representatives of holders of bonds of the Government and any A-advising of entities, hiring Empra © stitos or other facilities leading to the Constitution of a reserve or stabilization fund 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 Paa-s, stipulating in such contracts the conditions that were necessary and appropriate, and may not alter the Cla sulas and provisions of such contracts, except by agreement between the parties.
The President of the Repà with the affirmative opinion of the National Council of monetary stabilization and the Cabinet Council, may grant permits or concessions and enter into contracts with natural persons or Jura - dicas foreign and domestic, for the investment of capital in industries and businesses of all A-advising, inclusive of service public prosecution, that benefit of the Treasurer of the Paa-s! , and can stipulate in such contracts the conditions that were suitable, however any available legal earlier in contrary. This Atribucia³n includes provisions to establish the system of participation by workers in the profits of enterprises and to ensure a reasonable income on the investment or establishing a percentage of revenues a³ utilities to be paid to the Treasury in Sustitucia³n of any other tax or contribution. These contractual provisions cannot be n be altered except by agreement between the parties.
The President of the Repà may by Supreme Decree concordant with the formalities of this law, to enact measures that amend or repeal legal provisions that threaten financial stability and credit of Paa-s or that endanger monetary stability.
The President of the Repà with the affirmative opinion of the Cabinet Council, Promulgara all the relevant legal provisions that repeal prior provisions and to put in execution all available recommended by the National Council of monetary stabilization in matters fiscal, taxation, banking, monetary or services Pa public, or affecting budgets, revenue, expenditure, grants, appropriations, obligations, commitments or projects of any Reparticia³n of the State! , including all legal disposal relating to the control or fixation of prices Ma next and Ma-nimos for any kind of Arta-culos, goods or services.
Arta-culo 2a ° â €"the powers granted to the Executive branch in the previous Arta-culo are of face character emergency, and therefore will be effective a year from the Codelcoâ of this law, to whose término Congress national may or not extend this PEAR-odo by the approval of another law.!!"
Arta-culo 3a ° â €"is recognize force laws of all those provisions issued by the Executive Branch pursuant to the extraordinary powers conferred by this Act, which are consistent with prescribed by Arta-culo 58, sub-paragraphs 5) and (7) and Arta-culo 94, paragraph 6) of the Pola-tica Constitution of the State.!"
Commune-contact to the Executive for constitutional purposes.
Session room of the H. Congress.
La Paz, 20 November 1956.
(Fdo). Ovid Barbery was Núñez, President of the H. Senate Nacional.a€ "Rena n and Justiniano Castrillo, President of the H.! CA Chamber of Diputados.a€ "Eufronio Hinojosa, Senator Secretario.a€" Heberto Añez, Senator Secretario ad - hoc.a€ "Luis F."! Oropeza, Deputy Secretario.a€ "Zena³n Barrientos Mamani, Deputy Secretary."
THEREFORE: I enacted it is and meets as a law of the Republic.
Government Palace, in the city of La Paz, to the twenty-second day-as of the month of November one thousand nine hundred and fifty six years.
(Fdo). HERNÁN SILES ZUAZO, constitutional President of the Repaºblica.a€ "Hugo Moreno Córdova, Minister of finance."