Extending The Validity Of The Mechanism Of Stabilization Of Prices Of Fuels Derived From The Petroleum Established By Law Nº 20.063, With Modifications That Indicates

Original Language Title: PRORROGA LA VIGENCIA DEL MECANISMO DE ESTABILIZACION DE PRECIOS DE COMBUSTIBLES DERIVADOS DEL PETROLEO ESTABLECIDO EN LA LEY Nº 20.063, CON LAS MODIFICACIONES QUE INDICA

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Article 1.-extended the mechanism of stabilization of prices of the fuels oil byproducts, arranged by law N ° 20.063, 2005, with the following modifications: 1) replace, in paragraph first of article 1, the "2006" figure "2007".

((2) amended article 2, in the following way: to) delete in the second paragraph the word "certain" and the final paragraph, passing the dot (.) followed before it be dot (.) final.
(b) incorporated the following subsection, new, passing current subparagraphs fourth, fifth, sixth, seventh, eighth, ninth and tenth to be fifth, sixth, seventh, eighth, ninth, tenth and tenth first, respectively: "the differential of refining to be used in the determination of the intermediate reference price of fuels, will correspond to which is extracted from the moving average of the weekly average prices of the respective fuel in the period understood by "s" weeks back from the respective week. The report of the National Energy Commission referred to in subsection first shall indicate the methodology of calculation of the aforementioned Mobile average. "."
(c) replace current fourth subparagraph, which happened to be fifth, by the following: "the value of the parameter"n","m"or"s"will have a minimum period of four weeks, and may be modified in the respective decree which fixed reference prices, following a report of the National Energy Commission. Despite the foregoing, the maximum values of "n" and "s" correspond to 52 weeks and the maximum value of "m"to six months.".
((d) modify current seventh paragraph, which happened to be eighth, in the following terms: i) deleted the term "minor".
((ii) replaced the expression "weekly average" by "two weeks average", and iii) replace the final sentence by the following: "For these purposes shall be considered a relevant market for each fuel or the average of two relevant markets for each fuel.".
((e) modify the current eighth paragraph, which happened to be ninth, as follows: i) be replaced with the expression "previous week", "the past two weeks", the two times it appears.
(ii) replace the expression "first day of the following week" by "Thursday next", both times appearing.
(f) Agreganse the following final clauses: "without prejudice to the provisions in the previous paragraphs, the amount of appropriations or tax will be informed more by the day prior to its entry into force Tuesday.
For the purposes of this article, means per week for the period of 7 consecutive days begin and end will be determined by the respective Decree. "."

(3) add, at the end of article 5, the following paragraph: "Starting 1 July 2006 until 30 June 2007, the Fund will operate with the balance that register of June 30, 2006.".

((4) modified article 6 in the following way: to) delete, in the third paragraph, the phrase "most the projection of financial revenues that should increase during the same period" and the phrase "and of the direction of budgets of the Ministry of finance, trying to interest income" and the comma (,) that precedes it shall be replaced by a period (.).
(b) replace, in the fifth paragraph, the phrase "observed in the date and form to be determined" by the expression "date and modality established" preceded from a comma (,).

((5) amended article 8 follows: to) replace, in the third paragraph, the word "July" with "January".
(b) incorporate, at the end of article 8, the following fourth, fifth and sixth subparagraphs: "if to June 30, 2007 the account referred to in the first paragraph, less the balance referred to in the preceding paragraph, a balance in favour of ENAP, the company shall be entitled to impute such balance from January 1, 2008, as arranged in the Supreme Decree referred to in the preceding paragraph. The Treasury can pay off the account total or partially through the capitalization of profits accumulated in the form which is available by Supreme Decree issued by the Ministry of finance and that must also bear the signature of the Minister of mining.
In case that the balance as of June 30, 2007 is in favour of the Treasury, Chancellor of the Exchequer will have by resolution the way to find such balance to the Treasury.
The direction of budgets shall on a quarterly basis the net balance of the account referred to in subsection first. "."

(6) delete articles 9 ° permanent and first, second, third and fourth transient.

(7) replace the current transitional sixth article, which has become a transitional second, by the following: "second article.-the balance of the special account referred to in article 5 ° of the Act of June 30, 2006, will be retained as part of the resources of the compensation fund of the copper revenues. The balance of the Fund concerning article 1 of the present law, to the end of his term, if positive, will receive the same treatment. "."