LAW NO. 20,977 REQUIRES THE PUBLICATION IN THE OFFICIAL JOURNAL OF LAW N ° 13,196, RESERVED FOR COPPER, bearing in mind that the National Congress has given its approval to the draft law originating in the motion of the Members of Parliament Jaime Pilowsky Greene, Ricardo Rincon González, Marcelo Schilling Rodríguez, René Saffirio Espinoza, Guillermo Ceroni Fuentes and Deputy Mrs. Yasna Provoste Campillay, Bill: " Single article.-The text of Law No 13.196, including its amendments, will cease to be have the character of secret or reserved to count from the date of publication of this law. In the Official Journal, together with the publication of this law, the full and updated text of Law No 13.196 shall be inserted. " And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, 13 December 2016.-MICHELLE BACHELET, President of the Republic.-Rodrigo Valdés Pulido, Minister of Finance.-José Antonio Gómez Urrutia, Minister of National Defence.-Aurora Williams Baussa, Minister of Mining. What I transcribe to you for your knowledge.-Saluda Atté. to you, Alejandro Micco Aguayo, Undersecretary of Finance. The text presented below has been prepared by the Official Journal and its insertion in this edition is not a new publication. For the conformation of the updated text of law Nº 13,196, the following rules have been taken into account, all published in the Official Journal, in restricted editions, on the dates indicated: (a) Decree law No. 1.530, 1976, Ministry of National Defense, which Fixed the Definitive Text of Law Nº 13.196, published in the Official Journal of 29 October 1976, in restricted edition Nº 29.596-A; (b) Law No. 18.445, which amends provisions of Law No 13.196, published in the Official Journal of 17 October 1985, in restricted edition Nº 32.298-A; and (c) Law No. 18,628, which amended Law No 13.196, published in the Official Journal of 17 July 1987, in restricted edition Nº 32.822-A. FULL AND UPDATED TEXT OF LAW N ° 13.196 Article 1.-10% of the foreign currency income determined by the sale to the outside of the production of copper, including its by-products, of the National Copper Corporation of Chile and 10% of the value of the foreign copper contributions made by that Corporation, must be deposited by the Central Bank of Chile in dollar currency of the United States of America, in the General Treasury of the Republic, with the purpose of the Council Superior National Defense complies with the purposes of law No. 7.144. Annually, a final settlement of the performance of this law will have to be carried out and, if the total amount of 10% yield is less than one hundred and eighty million dollars (US$ 180,000,000.00), which will be adjusted year by year to count from the 1st In January 1987, in the variation that has been experienced by the United States of America's Wholesale Price Index of the year prior to that of the respective readjustment, the difference must be completed by the Fisco. To this end, an item should be included in the National Budget Law of each year. The Fisco, under the item set out in the preceding paragraph, may grant advances, which the General Treasury of the Republic shall deduct from the subsequent resources it receives in accordance with the provisions of this Article, and shall enter them into tax coffers. Article 2.-The deliveries of funds to be carried out in compliance with the provisions of this decree, shall be made in a reserved form; they shall be kept in secret accounts, shall be counted in a reserved form and their investment, whether in purchases In the case of cash or credit operations, payment of spot fees or service of credits shall be made available by means of reserved supreme decrees exempt from the taking of reason and endorsement. Article 3.-The amounts in dollars resulting from the application of Article 1, shall be deposited as they are produced and the General Treasury of the Republic shall enter them by third parties, in special accounts denominated " Accounts of Reserve No. 9,151, 9,152, and 9,153-Law No. 13,196, " which will correspond to the Chilean Army, Navy, and Air Force, respectively. At the request of the Superior National Defense Council, the General Treasury of the Republic will deduct up to the amount of US$ 3,350,000.00 (three million three hundred and fifty thousand dollars), in each year, from the income made in the Reserve Accounts. of each institution, securities which it shall deposit in an account in the name of that Superior Council, which shall be referred to as "Reserve Account No. 9.154-Law No. 13,196". For the investment of these funds, the agreement of the indicated Body, must also count, with the favorable vote of the Commanders in Chief of the Army, Navy and Air Force. The Council may determine that the balances existing in this account shall be fully or partially reintegrated into the institutional reserve accounts by third parties. Article 4.-The credits contracted or that are contracted and which must be served with the resources referred to in Article 1, shall not affect the margin of indebtedness fixed by Article 27º of Decree Law No. 233 of 1973, or establish in the future. Such credits will be authorized by the Ministry of Finance, without observing the procedures that should be followed to extend that authorization. Article 5.-The institutions holding each of the "Reserve Accounts" established in Article 3 shall only be able to rotate in them according to the authorizations issued by the Superior National Defense Council to comply with the foreign currency obligations imposed by Law No 7,144, aimed at the satisfaction of all the requirements that aim to acquire and maintain the materials and elements that make up the military potential of the armed institutions. Also, with the resources granted by this law, the acquisitions of the materials and elements referred to in the preceding paragraph may be made in the country and the costs of maintaining such goods shall be resolved. In this case, the respective commitments may be agreed and paid in national currency. Article 6.-The audit and control that corresponds to the Comptroller General of the Republic on the funds referred to in Article 1, shall be done in a reserved manner, in accordance with the procedures and modalities determined by the Comptroller General, which shall affect all the departments, agencies, institutions or companies of the State in which the State is involved and which intervene in the matter. Without prejudice to the aforementioned audit, the Chilean Copper Commission will exercise in particular the powers conferred upon it by Decree Law No. 1,349, of 1976, for the purposes of this law, and will provide the National Defense Council with the the background to their power, which it requires. Article 7.-The resources provided for in Article 1 shall not be included in the General Accounting of the Nation. Article 8.-In the event that the income from the application of the first item of article 1, in an annual exercise exceeds the amount of one hundred and ninety five million dollars (USD 195,000,000.00) the excess over the amount of Sixty-five million dollars (USD 65,000,000.00), corresponding to each National Defense Institution, should be allocated to the percentages indicated for the following objectives: 45% to extraordinary redemptions of the commitments In the case of payment renegotiated at the date of validity of this law, 50% of the purposes for which it is Article 5, and 5% will be made available to the Higher National Defense Council. Once the payment commitments referred to in this Article have been fully amortised, 95% of the said annual excess shall be allocated to the purposes set out in Article 5 and 5% shall be made available to the Higher Defence Council. National. Article 9.-Defeat, since the date of its validity, the decree reserved law No. 984, of 1975. VALIDITY AND UPDATE NOTES ON THIS INSERT A.-Decree law no. 1,530, of 1976, of the Ministry of National Defense, established in its second article: "This decree law will govern from the date of abrogation of the decree law reserved No. 984, of 1975." The aforementioned decree law No. 984, 1975, which Fija the Recast Text of Law Nº 13,196, was published in the Official Journal of 5 September 1975, also in restricted edition Nº 29.248-A. B.-Law No. 18,445, which amended the provisions of Law No 13.196, stated in its article 2: " The amendments referred to in the previous article shall apply from 1 January 1986, with the exception of that set out in point (a) of the first subparagraph of Article 1 (1). to be counted from 1 January 1988. ' The amendments introduced by this law, which entered into force on 1 January 1986, correspond to the changes in the second indent of Article 1 (2), Article 5 and Article 8 of the Law Nº 13,196, and an exception is established for Article 1 (1) of the Law. First, the first indent, which entered into force on 1 January 1988. C.-Law No. 20.424, Organic Statute of the Ministry of National Defense, established in its article 8 ° transitory, first paragraph: " For all legal, regulatory and contractual effects, the Ministry of National Defense is the successor of the Superior Council. National Defense, and it will be up to him to take charge of the rights and obligations of those who are the owner and that exist or are pending at the date of entry into force of this rule. Any mention made in laws, regulations and other legal instruments in respect of that Council shall be understood as referring to the Minist from that date. National Defense Ministry. " Law No. 20,424, was published in the Official Journal in edition Nº 39.578 of February 4, 2010. Mr Carlos Orellana Cespedes, Director of the Official Journal of the Republic of Chile, subscribes to this insert.