Law N ° 18,233 Provides State guarantee in the rescheduling of the external debt and authorizes the contracting of external credits indicating (Published in the "Official Journal" N ° 31,626 of 23 July 1983) The Government Board of the Republic of Chile has given its approval to the following BILL OF LAW: " ARTICLE 1º Authorize the President of the Republic, to grant the State guarantee to the obligations arising from foreign currency loans, up to the sum of US$ 1,300,000,000 (a thousand three hundred million dollars from the United States of America) or its equivalent in other currencies Foreign financial institutions, plus interest, commissions, and other costs inherent in this type of operations, which the Central Bank of Chile will contract with financial institutions from abroad. ARTICLE 2. Authorize the President of the Republic, to grant the State guarantee to the following obligations: a) To which the Central Bank of Chile, Banco del Estado de Chile, the services, institutions and companies of the public sector, centralized or decentralized, including the National Corporation of the Copper of Chile, the entities to which it is Article 11 (1) of Law 18.196 and the banking and financial companies incorporated in the country are referred to in respect of the rescheduling of maturities which take place between 31 January 1983 and 31 December 1984 foreign currency on 31 January 1983, issued by the financial institutions of the (b) To those incurred by banks and financial corporations incorporated in the country, originating in foreign currency credits existing at 31 January 1983, by the maturities of the years 1983 and 1984, and not (c) To be assumed by the Central Bank of Chile with foreign financial institutions in order to defer the remittance to the foreign currency corresponding to the maturities that take place between 31 January 1983 and 31 December 1984, in respect of foreign currency loans, which were granted by 31 January 1983. such institutions shall be liable to debtors who pay the Central Bank their equivalent in current currency; (d) to those arising from short-term foreign currency financing, such as those granted in instalments not exceeding 365 (a) days, relating to foreign trade operations, granted by foreign financial institutions to the entities referred to in point (a) of this Article, between 31 January 1983 and 31 December 1984. The maximum amount of the obligations to which the State guarantee is granted, as regards those described in points (a), (b) and (c), may not exceed, in aggregate, capital of US$ 3,600,000,000 (three thousand six hundred millions of dollars from the United States of America), or its equivalent in other foreign currencies, plus interest, commissions and other costs inherent in this type of operations. With respect to the obligations referred to in point (d), the maximum amount of guarantee of the State in force at any time shall not exceed US$ 2,000,000,000 (two billion dollars of the United States of America), or its equivalent in other foreign currencies, plus interest, commissions and other costs inherent in such operations. The State and the departments, institutions and undertakings referred to in point (a), which have required a legal authorization to recruit credits abroad, shall be entitled to reschedule the maturities taking place during the period of the years 1983 and 1984 of the obligations referred to in point (a). The security of the State referred to in this Article shall not be granted to the obligations of banking companies and financial corporations which are subsidiaries of a foreign financial institution, in the understanding that one or more of them Foreign financial institutions are jointly owned by more than 50% of their equity capital. ARTICLE 3. Authorize the President of the |! | Republic, to grant the State guarantee to the |! |obligations arising from credits in currency |! |foreign, up to a maximum of US$ 800,000,000 |! | (eight hundred million dollars from the States United |! |of America), or its equivalent in other currencies |! |foreign, plus interest, commissions and other costs |! |inherent to these types of operations, that they contract |! |with international financial institutions or |! |financial institutions foreign public, or |! |foreign state agencies, or have the |! |warranty of any of these institutions or agencies, |! |the Central Bank of Chile, the Banco del Estado de Chile, |! |the services, institutions and companies of the sector |! |public, centralized or decentralized, including the |! | National Corporation of the Copper of Chile and the entities |! |as referred to in article 11 ° of Law 18,196. The above mentioned entities will be understood |! |authorized, when legally required, for |! |hire the borrowings referred to this |! |article. To this effect, empower the President of |! |the Republic so that within a year and |! |by one or more decrees issued through the |! | Ministry of Finance, point out the distribution of the |! |credits between such entities, the projects that are |! |will finance with these loans and the source of |! |resources with charge to which you will have to make your |! |service. ARTICLE 4 ° The powers conferred on the President |! |of the Republic in the articles 1 °, 2 ° and paragraph |! |first of article 3 ° of this law shall be |! |exercised within a period of one year, by one or |! |more decrees issued through the Ministry of |! | Hacienda. In such decrees will be established the power |! |to agree to the stipulations and to assume the commitments |! |that are customary in the financial markets |! |international in relation to the types of |! |obligations to which this law refers. The special authorization of the |! | President of the Republic referred to in the |! |article 4 ° of decree law 2.349, 1978, to pactar |! |in the contracts and operations referred to in the |! |present law shall not be necessary the stipulated stipulations in the |! |articles 1 ° and 2 ° of the aforementioned decree law. TRANSITIONAL ARTICLE In the case of maturities which have occurred as of 31 January 1983, of obligations of public sector bodies, departments or institutions, or of any of the entities referred to in the first subparagraph of the Article 11 (1) of Law 18.196, which has the guarantee of the State and which has been extended or extended as long as the rescheduling is formalized in accordance with the provisions of Article 2 (a) of this Law, the aforementioned guarantee State shall remain in force for the duration of such extensions and until the date of such extension reprogramming. JOSE T. MERINO CASTRO.-FERNANDO MATTHEI AUBEL.-CESAR MENDOZA DURAN.-CESAR RAUL BENAVIDES ESCOBAR. " Because I have had to approve the previous law, I sanction it and sign it in sign of promulgation. Take effect as the law of the Republic. Register with the Comptroller General of the Republic, publish in the Official Journal and insert in the Official Collection of the Comptroller's Office. Santiago, 22 July 1983.-AUGUSTO PINOCHET UGARTE.-Carlos Cáceres, Minister of Finance.