Introduces Modifications To The D.l. N⺠3,472 Of 1980, I Think The Guarantee For Small Os Fund Entrepreneurs

Original Language Title: INTRODUCE MODIFICACIONES AL D.L. Nº 3.472 DE 1980, QUE CREO EL FONDO DE GARANTIA PARA PEQUEÑOS EMPRESARIOS

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"(Artículo único.-Introdúcense las siguientes modificaciones en el decreto ley Nº 3.472, de 1980, que crea el Fondo de Garantía para Pequeños Empresarios: 1) replaced by subsection first of article 1, the words between the expression"credits"and the phrase"and the technical cooperation service", by the following sentence:", leasing operations and other financing mechanisms authorized by the Superintendency of banks and financial institutions ", in later financing or financing, public and private financial institutions".

2) amended article 2 as follows: to) in its first paragraph: i) merge the second paragraph of the letter d), as the second paragraph of the article.

((ii) add the following letter f), new: 'f) a fiscal punch of 10,000,000 dollars, currency of the United States of America, or its equivalent in other foreign currencies or in national currency.'.

(b) add the following final new subsection: previous "(Un decreto supremo deel Ministerio de Hacienda establecerá la proporción o parte deel aporte fiscal señalado en la letra f) which should be in foreign currency and the shape, instruments and proportion that must invest abroad.".

((3) amended article 3, in the following way: to) Suprimense in its first paragraph the following expressions: "having investment projects or capital needs of financial operation," "in case of small non-agricultural producers, or 14,000 units of development, in the case of small farmers," and "requiring working capital and", and added, before point apart. preceded by a comma (,), the expression "having needs of working capital or investment projects".

(b) Reemplazanse in its third paragraph the words "loans" and "credits" for "financing".

4) amending article 4, in the following way: to) in its first paragraph: i) replaced the expression "loans" by "financing", on the two occasions in which it appears.

(ii) replace the expression "and may not exceed" by the following: ", with the exception of those earmarked for small entrepreneurs that have concerned the financing of operations of export or import, which may also be granted in foreign currency." In any case, the financing guaranteed by the Fund may not exceed".

(iii) Insert, then the expression "3,000 unidades de fomento", preceded and followed by a comma (,), the expression "or equivalent" in foreign currency.

(iv) add, before point apart (..), preceded by a comma (,), the expression "or its equivalent in foreign currency".

((b) in your second paragraph: i) replace the word "loan" by 'finance', on the two occasions in which it appears.

(ii) Insert, then the expression "up to 3,000 unidades de fomento", preceded and followed by a comma (,), the expression "or equivalent" in foreign currency.

(iii) added, before point apart (..), preceded by a comma (,), the expression "or its equivalent in foreign currency".

((c) in its third paragraph: i) replace the word "credit" by 'finance'.

(ii) replaced the word "dollars" by the words "foreign currency".

(iii) replace the expression "four thousand eight hundred ten", by "5,000".

(iv) replace the word "loan" with "financing".

((d) in its fourth paragraph: i) replace the word "loan" with "financing".

(ii) replace the word "loan" with "financing".

(e) replace its current fifth subparagraph by the following: "guarantee fund may not have a period exceeding 10 years, without prejudice to the term of the financing for which it is granted.".

((f) in its sixth paragraph: i) the sentence "loans guaranteed by the Fund" shall be replaced by "financing guaranteed by the Fund".

(ii) replace the expression "in the" by the preposition "a".

(iii) replace the term "mutuario" by "debtor".

(iv) replaced the word "loan" with "financing".

((5) amended article 5, in the following way: to) replace the third subparagraph by the following: "The Fund can bailing obligations up to an amount which does not exceed the relationship that determines the Superintendency of banks and financial institutions with regard to their heritage as a whole,"..

((b) in its fourth paragraph: i) replaced the sentence "which sector or sectors economic and under what conditions may make use of the resources that are committed" with the following: "the General conditions that the participating institutions and small entrepreneurs and exporters can access the warranty and make use of licensed rights".

(ii) replaced the word "loan", with the word "financing".

(iii) added, before point apart (..), preceded by a comma (,), the following: "or its equivalent in foreign currency".

(c) replace, in its fifth paragraph, the word "credits" for "financing", on two occasions in which appears.

((6) changed subparagraph first of article 7, in the following manner: i) replace the word "credit" for "financing".

(ii) replace the expression "which" by "whose rights".

((7) amending article 8, of the form that follows: to) replace, in its first paragraph, the word "credit" by 'finance'.

(b) replace, in its third paragraph, the normative reference that is made with the sentence "article 21 of Decree Law No. 1097, 1975" by the following: "article 22 of the Act General of banks".

(8) replace in article 9, the expression "Law of stamps, stamps and stamping paper" by "Tax Act stamps and stamps".

(9) add the following article 11, new: "article 11.-the Fund may, subject to the conditions established for these effects, the Superintendency of banks and financial institutions and prior authorization of the Ministry of finance, contract with institutions public or private, national or foreign, mechanisms of rebonding or insurance with respect to the underlying warranties or that grant in the future." Can also agree and pay commissions or bonuses by the reafianzamientos or insurance contracted with their resources, which may not exceed a ratio to be determined by the Superintendency of banks and financial institutions about the amount of commissions and the product of investments perceived that referred to b) and (c)) article 2 °. "."