Sole article.-introduce the following amendments to the Decree Law No. 1,350 of 1976.
1st replace article 8 ° for the following: "(Artículo 8°.-El Directorio estará compuesto por las siguientes personas: a) the Minister of mining, who will preside over it;"
(b) the Minister of Finance);
(c) three directors appointed by the President of the Republic, of which one shall be general or officer higher in active service of the armed forces or Carabineros de Chile, and another civil engineer;
((d) a representative of the Confederation of copper workers, and e) a representative of the National Association of copper supervisors.
The directors referred to in d) and e) shall be employees of the company with an age in not less than 5 years, and they shall be appointed by the President of the Republic, from a shortlist proposed by the respective organization.
((The directors referred to in letters c), d) and e) will last four years in office, they may be designated only for a further consecutive period and removed from their functions by missing four or more sessions a year or for revocation of their appointment by the authority which appointed them. If they cesaren in their functions before the respective period, be appointed the new directors in the manner provided in this article.
Directory can only operate with the assistance of, at least five of its members. He will chair one of the two members designated by the directory in accordance with the order of precedence established in the absence of the Minister of mining.
Agreements shall be taken by an absolute majority of the members present and, in case of tie, decide the vote of who preside over the session. Directors may not abstain, except in the case provided for in article 44 of law No. 18,046.
Directors are entitled to a monthly remuneration equivalent to the of the Ministers of State, including assignments that correspond to these. For each absence to session within a month were deducted 30% of monthly gross amount of their remuneration.
Directors, the CEO and the general managers to apply incompatibilities, disabilities, responsibilities and prohibitions established by law N ° 18,046 for directors of corporations. "."
2 ° replaced article 9 ° as follows: "(Artículo 9°.-El Directorio tendrá la conducción superior y la supervigilancia de la marcha de la Empresa, correspondiéndo_le las siguientes atribuciones: a) set its policies and those of each of the operating divisions, in accordance with the plans and general programmes approved by the Government;"
(b) appoint and remove the Executive Chairman;
(c) noted the general standards for the sale, export, shipping, consignment and, in general, the marketing of copper, minerals, products and by-products, in accordance with the General provisions issued by the Government;
(d) prepare the annual budget of the company and its eventual amendments and submit it for the approval of the Ministers of finance and mining;
(e) approve the memory, balance sheets and financial statements of the company for each financial year, which shall be subject to the Divisional balances approved in advance;
f) hire the external audit, who shall certify the balances of the divisions and the company;
(g) arrange the transfer to the Treasury, of profits in accordance with the law, and agree on the transfer to the Treasury of accumulated funds;
(h) propose to the mining Minister amendments to the statutes of the company, for approval as indicated in article 11;
(i) have the issuance of bonds or debentures, setting the conditions, terms and other terms to which it is subject, in accordance with the relevant legal provisions;
j) report to the Central Bank, later the day 1 September each year, the annual and advance global estimate of costs in foreign currency and exports that take place the company in the following year;
(k) establish, participate or take interest in corporations and companies, either that is their nature, inside or outside the country, for the best achievement of the goals of the company, without prejudice to the provisions of the Decree Law N ° 1.167, 1975, and modify them, dissolving them and settle them;
(l) provide the disposals of assets and, subject to the budgets of the respective, agree acquisitions of immovable property, without prejudice to the provisions of the Decree Law N ° 1.167, 1975. These powers may be delegated to the Executive Chairman;
(m) authorize the hiring of internal or external loans in national or foreign currency.
The credits that the company hires must be approved by trade, by the Ministry of finance.
For credits to over one year period, require also that authorization to initiate corresponding negotiations;
n) set the policies for the recruitment and administration of national accounts and foreign;
(n) establish general policies of recruitment of staff, their wages and benefits, and resolve matters relating to collective agreements;
o) approve and modify the rules on internal organization and the manuals of functions of the senior positions in the company, a proposal of the Executive Chairman, and p) in general know materials aimed at the fulfilment of the objectives of the company. "."
3rd replace article 10 by the following: ' article 10.-the Executive Chairman will be appointed by the Board and stay in office as long as it has the confidence. "
It is responsible for executing agreements of the Board and overseeing all productive, administrative and financial activities of the company, in the form in which this law establishes.
En_especial you shall be responsible for: to) enforce the agreements of the directory;
b) manage the company, without prejudice to the powers of the Board;
(c) prepare annual consolidated operating budgets, investment and other CODELCO-CHILE for the approval of the Board, based on the budgets of the divisions, previously approved by the Board of Directors;
d) make balance sheets consolidated the company, corresponding to each year, to submit them for the approval of the Board, based on the balance sheets of the divisions, approved by the Board of Directors;
(e) carry out transfers of funds to the Treasury, in accordance with the law;
f) represent the directory in the negotiations of contracts and collective labour agreements;
(g) represent administrative, judicial and out-of-court company; in the latter case, the powers of both paragraphs of article 7 of the code of Civil procedure;
(((h) sell, export, transport, ship entered and, in general, market copper, minerals, products and by-products referred to in letters c), d)) and (f) of article 3;
(i) acquire personal property and hire the services necessary to fulfill the purposes of the company. In the event that these acquisitions or procurements be carried out on the exterior and its financing or payment is agreed more than one year period, will require authorization, using office, Ministry of finance;
j) sign the balance sheet of the company;
k) present the balance sheet of the company to the directory;
(l) open, manage and close current accounts, banking and trade, either in national or foreign currency, in the country or abroad;
(m) contract to the company staff, set their wages and put an end to its services, in accordance with general policies determined by the Board;
n) establish offices, branches, agencies, units of service administration independent in Chile or abroad;
((n) reporting, at least monthly to the directory of the management of the company, and or) partially delegating the exercise of their functions, giving the necessary powers. "."