Santa Cruz. - Currency. - L 225 Of 10 January 1950.-Annually Are Recorded In The Budget A Basic Sum Of Two Million Dollars For Industrial Development, For 10 Years.

Original Language Title: SANTA CRUZ.— DIVISAS.— L. 225 DE 10 ENERO 1950.— ANUALMENTE SE CONSIGNARÁ EN EL PRESUPUESTO UNA SUMA BÁSICA DE DOS MILLONES DE DÓLARES PARA FOMENTO INDUSTRIAL, DURANTE 10 AÑOS.

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/51660

LAW NÂ ° 225 MAMERTO URRIOLAGOITIA H President constitutional DE LA Repašblica as: the Honorable National Congress has sanctioned the following law: the National Congress DECREES: Arta-culo lo.a€ "in the foreign currency budget which prepares each year the Executive power, is Consignara during the next ten years, from 1950, a heading Ba $US sica.!" 2,000,000. â €"(two million annual dollars) at official rate for the following:" fostering new industries to be established in the Department of SANTA CRUZ: these badges may ¡(n ser utilizadas para los fines que siguen: a) acquisition of equipment, machinery and materials facilities only, Fa bricas and sires of race, destined to the implantation of new industries or extension of existing!! "" within the zone set. Will have n preference industries to produce Arta-culos for national consumption that currently are imported to the Paa-s and whose production mean savings of foreign exchange in imports.
(b) pay for services technicians in foreign currency, transfer of machinery and materials, and any other expense that must be made in foreign currency for the purpose of this law.
(c) create a reserve fund in foreign currency for payment of amortizations, interests, dividends, intended for the foreign ca-capital that will invest in the mentioned area, under the protection of law on October 17, 1945 and this law. These capital to enjoy of this benefit, must n be registered in the Bank Central of Bolivia in time of your income to the Paa-s.!
Arta-culo 2o.a€ "annual quotas of currency referred to in the Arta-culo 1a ° is Concentrara n in the Agency of the Central Bank of Bolivia in Santa Cruz, which takes its management under the directives of a"Board of FOMENTO INDUSTRIAL of el ORIENTE BOLIVIANO", composed of loa following ombudsmen: prefect of the Department, Municipal Mayor, agent of the Central Bank of Bolivia!!" Agent Bank Agra-cola, delegate appointed by the CA Chamber of industry of Santa Cruz, departmental Comptroller and delegate of AC mara Agra-tail cattle.
Arta-culo 3o.a€ "them interested in obtain badges of this Fund, submit so request documented to the Bank Central of Bolivia, Quia © n it submit to consideration of the Board before cited, which Dara your opinion.!!"

Arta-culo 4o.a€ "any new industry or extension of existing industry, which starts or Ampla - e under the provisions of this law, to qualify for the same benefits, shall register with the Board of Industrial development in the East, declaring both domestic and foreign capital, purposes, legal Personera-a address and other data required by the Board.!"
Arta-culo 5o.a€ "all industrial under the auspices of this Act that produces raw or prepared materials, which are currently imported to the Paa-s, you will have the right to buy at the Central Bank of Bolivia, up to 40% of the value of their production, in currencies from the import quotas allocated to produced matter and the rate of Exchange set for imports for use in expansions of its facilities destined to produce the same Arta-culo or other than also n is imported. If the industrial firm had acquired obligations in foreign currency, you can use that 40% to pay off, pay interest and dividends on its external obligations.
Arta-culo 6o.a€ "all industry, after having filled the needs of domestic consumption, can export their products and the value of them will deliver to the Central Bank, 50% in foreign currency of the value of its exports.!"
Arta-culo 7o.a€ "under Ra © moan of the provisions of this law, no industry will face ter exclusive or monopoly and the Board may assign to several interested currency destined for a same industry.!!"
Arta-culo 8o.a€ "when in an annual management had exhausted the quota Ba sico's currency set in the Arta-culo °, the Board may recognize industrialists interested in obtaining foreign capital, immediate investment, priority of rights, for the Adjudicacia³n of resources in foreign currency, for depreciation and interest, of future negotiations.!"
Arta-culo 9o.a€ "the facilities established in the 5th Arta-culos and 6a of this law, be applied n for ten years starting from 1950."
Arta-culo 10o.a€ "the Board of Industrial development in the East, foster, in an annual report, the adoption of complementary measures for the best Soja in the industrializing of the East, giving a documented account of its activities in the year expired.!"
Commune-contact to the Executive for constitutional purposes.
Session of the H. Congress Hall.
Peace, December 15, 1949.

(Fdo). Waldo Belmonte Jats'bil€ ' (Fdo). " Luis Ponce Lozada.a€ ' (Fdo). " C. Lopez, Senator Secretary. (Fdo). Antenor Ichazo, Senator Secretary (Fdo). Guillermo Alvarez S., Deputy Secretary. (Fdo). Illegible, 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 ten day-as of the month of January of one thousand nine hundred and fifty years.
(Fdo). MAMERTO Urriolagoitia.a€ ' (Fdo). " R stop Sua rez.