BANCO CENTRAL.Â€ "ModifA-case the text of the article 53, paragraph 6A, letter e) of the OrgA Act.
CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA
For, the National Congress has sanctioned the following law:
THE NATIONAL CONGRESS,
ArtA-article only.â€ " Article 53 in point 6A (e) of the OrgA Act of the Central Bank of Bolivia, is worded in the following terms:
The payments, bonds or other direct or indirect obligations of the Government National, of the departments and other political subdivisions of the Republic and of the railways, monopolies, other undertakings or entities operated directly by the National Government and its political subdivisions which together give a total amount of more than 25% of the Bank's paid capital and reserves at any time; but this limit can be raised to 35% in emergency time with the affirmative vote of six members of the Board, at least.
Consequently, the municipal obligations not directly guaranteed by the State, will leave be computed in the percentage allowed as a mA by this same point (e).
The Bonds, other securities and state-titles that guarantee public obligations to the Bank, will be taken by the Bank as a guarantee-to subsidiary, without taking into account the government's responsibility for the effects of the mA which may be due.
Communicate to the Executive Branch, for constitutional purposes.
National Congress session room.
La Paz, June 3, 1931.
J. L. Tejada S. â€ "Franz Tamayo.â€" Gabriel Palenque Senator Secretario.â€ " Ed. Zapčovič Liza ¡ rraga Diputado Secretario.â€ " J. Ml. of the Quintana Diputado Secretario.â€ "
Therefore, it was enacted so that it has and will comply as law of the Republic.
Palace of Government, in the city of La Paz, at the twelve days of June of a thousand nine hundred and thirty-one years.
DANIEL SALAMANCA.â€ " Demetrio Canelas.
OR. Paz Estenssoro,
Senior Finance Officer.