LAW NO. 19,909 AMENDS DECREE LAW NO. 1,298, 1975, WHICH CREATES THE SYSTEM OF SPORTS FORECASTS, AND REPEALS PROVISIONS OF THE DFL. Nº 120 OF HACIENDA DE 1960 Having present that the H. National Congress has |! |given its approval to the following P r o y c t o d e l e y: " Article unique.-Introduces the following modifications in decree law No. 1,298, 1975, which creates the Sports Forecast System: 1) Reposition the article 2, for the following: " Article 2.-The competitions or sporting events that will serve as a basis for the system competitions, will be selected by the Chilean Póla de Beneficencia S.A. for each contest, and can be performed on the basis of football competitions and events, whether national or international; and with respect to one or more national or international sporting events or events, individual or team, relating to one or more Olympic sports officially recognised by the International Olympic Committee; and competitions (2) Substitute Article 4, by the following: " Article 4.-Each contest may be implemented according to the following modalities of betting and awards, jointly or separately, as determined by the Chilean Beneficencia S.A. pursuant to the Regulation: a) Betting with variable well prizes: These are the ones in which the prizes are determined according to the income from the sales of the respective contest, and b) Betting with default prizes: They are those in which the prizes are fixed The Chilean Government of Beneficencia S.A. in advance of the respective events that serve as the basis for the contest. "3) Replace article 5, by the following:" Article 5.-The gross proceeds produced by each contest of the System shall be used: (a) to the payment of the tax of exclusive tax benefit with a rate of 15%, which shall be applied on the sale price to the public, without regard to the tax, in accordance with the provisions of Article 2 of Law No 18.110; (b) Between 45% and 55% for awards. The percentage allocated to prizes will be fixed and may be modified by the Ministry of Finance, within the range established before, by means of supreme decree. The prizes will be allocated and paid in the form established by the Chilean Beneficencia La de Beneficencia S.A., with the percentage allocated to prizes set out in the manner set out in the preceding paragraph; (c) 12% for the National Sports Institute of Chile, in order to finance, exclusively, the promotion, development and activities related to sport and recreation in accordance with Law No 19,712. The Chilean La Beneficencia S.A. will deliver within the first 12 days of the month following the respective contest the funds that correspond to the National Sports Institute of Chile. Of the total of the funds actually allocated to the National Institute of Sports of Chile, a percentage of not less than 13% will be used to meet the needs of national sports clubs and to promote and develop the sport that serves as the basis of the competition, and a percentage of not less than 2% for the national governing body of the sport which serves as the basis for the competition. These funds shall be distributed and audited by the National Institute of Sports of Chile in the form and conditions to be determined by that body, and (d) the balance for administrative, management and commission expenses by sales. " 4) Article 7, by the following: " Article 7.-By means of a supreme decree issued through the Ministry of Finance, one or more regulations shall be issued on the organization, administration, operation and procedure of the competitions of the Sports Forecasts. "5) Replace Article 8, by the following:" Article 8.-Polla Chile de Beneficencia S.A. may determine the number and frequency of the system competitions and shall be entitled to suspend them in case the calendar of the competitions or sporting events or the market so advise, according to the regulation. The national federation governing the sport which serves as the basis for the contest, which will not give in a timely and timely manner the calendar of the sports competitions to the respective authorities or that, having delivered it, modify or suspend in all or part; that I shall not give notice in due time of the final results of the events or competitions carried out; or shall incur any infringement of the obligations which the Regulation specifically imposes on it, shall be sanctioned with the deprivation of for five tenders for the contribution referred to in point (c) of Article 5, without prejudice to the exercise of the other powers conferred on the authority by the regulation to ensure that the competition is carried out. The same penalty shall apply to national sports clubs which infringe the provisions of this law or its rules of law. ' 6) Replace Article 9, by the following: " Article 9.-The right to collect prizes shall be extinguished once after the expiry of the 60-day period following the publication of the results of the respective contest. ' 7. Article 10 shall be replaced by the following: " Article 10.-Deroganse, after the date of entry into force of this law, the Articles 14 to 16, both included, and article 21, all of the decree with force of law Nº120, of 1960, of the Ministry of Finance, whose consolidated, coordinated and systematized text was established by the Supreme Decree No. 152, of 1980, of the Ministry of Finance. Any reference made in legal and regulatory bodies that refer to the Sports Forecast System, in whatever the rules of the decree with force of law No. 120, of 1960, or the decree, apply to him for any effect Supreme No 152, of 1980, both of the Ministry of Finance, shall be understood to be effected by this decree law. " Transitional Article.-This law shall enter into force on the date of publication in the Official Journal of the first of the regulations that is issued under the new text of article 7 of Decree Law No. 1,298, 1975, which provides for the Single article. ' And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, 15 October 2003.-RICARDO LAGOS ESCOBAR, President of the Republic.-Nicolas Eyzaguirre Guzmán, Minister of Finance.-Jorge Rodriguez Grossi, Minister of Economy, Development and Reconstruction.-Francisco Vidal Salinas, Minister Secretary General Government. What I transcribe to you for your knowledge.-Salutes intently to Ud., Maria Eugenia Wagner Brizzi, Undersecretary of Finance.