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Through Which The National Fund For The Replacement Of Automotive Park Public Land Transport Service Is Created And Other Provisions

Original Language Title: Por medio de la cual se crea el Fondo Nacional para la Reposición del Parque Automotor del Servicio Público de Transporte Terrestre y se dictan otras disposiciones

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LAW 688 OF 2001

(August 23)

Official Journal No. 44.530, August 24, 2001

by means of which the National Fund for the Replenishment of the Auto Park of the Public Service of Land Transportation is created and other provisions are dictated.

Vigency Notes Summary

COLOMBIA CONGRESS

DECRETA:

CHAPTER I.

BACKGROUND CREATION AND ADMINISTRATION.

ARTICLE 1o. CREATION. Create a National Fund with legal status, called "Reposition and Renewal Fund the Public Service of Public Service of Passenger Land Transportation", to meet the requirements of the replacement and renovation of the Fleet of vehicles for public transport by land of passengers with metropolitan and/or urban radio of action on the national territory.

PARAGRAFO. The Fund will be made up of the contributions, which through the transport companies or individually, will make each of the owners of the vehicles of public transport terrestrial collective of passengers with radio of action metropolitan and/or urban.

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ARTICLE 2o. RENOVATION AND REPLACEMENT. The renovation consists in the sale of a public transport vehicle to acquire a vehicle of a later model, within the service life determined by law.

Replenishment consists of replacing a vehicle that has reached the end of its life with another new or lower age, within the useful life determined by law.

PARAGRAFO. The process of renewing and repositioning the automotive park in no case implies an increase in the company's conveyor capacity.

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ARTICLE 3o. ADMINISTRATION. The Fund will be managed by a management trust, or a similar banking mechanism, in a banking entity monitored by the Banking Superintendency.

Administrative board. It will be made up of five (5) designated members as follows:

1. One (1) representative of the Ministry of Transport.

2. Four (4) representatives elected by the contributors to the Fund.

It will be Board of Directors functions:

1. Drawing up the Fund's general policy guidelines.

2. Approve the Fund's management conventions.

3. The other ones that they establish in the regulations and that are necessary for the fulfillment of their ends.

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ARTICLE 4. Composition. The resource of the Fund will be from the field of the rate called "Capital Recovery", and from the voluntary contributions that the owner of the public service vehicle can make of the collective public service of radio of action metropolitan and/or urban.

CHAPTER II.

BACKGROUND OPERATION.

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ARTICLE 5o. vehicle shall have an account in the Fund, the resources of which may be used by the owner of the vehicle to replenish, renew or transform. The Fund's resources shall be made available to all contributors for the purpose of credit. These resources may not be foreclosed under any circumstances.

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ARTICLE 6o. BENEFICIARIES. The resources of the Fund may be used only by the owners of the vehicles they provide to the Fund.

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ARTICLE 7o. TRADITION. The tradition of the vehicle will lead to the tradition of the vehicle's account in the respective Fund. Any event or business that affects the ownership of the vehicle must therefore include the money that is included in the automotive account.

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ARTICLE 8o. WITHDRAWALS. The account of each vehicle may only be withdrawn from the Fund to carry out the replacement process. In this case, the owner will be given the resources of his/her individual account, after the physical disintegration process that will be regulated and controlled by the competent authorities.

CHAPTER III.

CREDITS.

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ARTICLE 9o. LOANS. The owners of vehicles that contribute to the Fund will be able to access these resources through individual loans, which will be granted by the financial institution that manages it, according to the guidelines provided by the a regulation established by the Ministry of Transport, within an unextended period of six (6) months, counted from the penalty of this law.

ARTICLE 10. REMUNERATION RATE ensure access to credit, to a low placement rate that stimulates renewal and replenishment, the Fund will recognize a moderate rate of uptake by the contributions of the owners of public transport vehicles for the public transport of metropolitan and/or urban radio passengers.

This rate of capture will have as a parameter the Consumer Price Index established by the National Administrative Department of Statistics, DANE, or the entity that does its times, and the placement rate will be five (5) points per year. above it, as established by the Fund's Board of Directors.

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ARTICLE 11. PURCHASE OF THE VEHICLE TO BE REPLENISHED. The rate of placement of loans made by the Fund to vehicle owners shall be agreed upon monthly between the Ministry of Transport and the financial institution in charge of its administration.

A percentage of the interest paid by the users of the credit granted by the Fund, fixed by the Ministry of Transport, will be used exclusively to generate the resources that will allow the purchase of the vehicles to be replenished. Such a measure shall only benefit those owners of the vehicles which they have contributed to the Fund for a minimum term of three (3) years.

CHAPTER IV.

TARIFF HANDLING.

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ARTICLE 12. Tariffs. On the basis of the issue of this law, the rate of public service vehicles of collective and/or mixed passengers shall have a capital recovery component which shall be solely and exclusively for renewal and replacement of the fleet. The Ministry of Transport shall regulate the percentage of this capital recovery component as well as the procedure for its determination.

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ARTICLE 13. MUNICIPAL AND COUNTY AUTHORITIES. The mayors, or the municipal authorities in whom they delegate the coordination of the land transport of passengers, have an obligation to include within the tariffs that will be charged to the users in the different service levels a percentage for the replacement and renewal of the vehicles, which will be calculated according to the procedure and percentages established by the Ministry of Transport. Failure to comply with this obligation will be a cause of misconduct.

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ARTICLE 14. CONTROL. The Ministry of Transportation will request reports on the measures taken by the respective municipal and/or district authorities and will inform the Attorney General's Office of its failure to adopt the measures. Corresponding disciplinary action.

CHAPTER V.

OWNERS ' OBLIGATIONS

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ARTICLE 15. CONTRIBUTION TO THE FUND. The owners of public service vehicles for the collective transport of metropolitan and/or urban radio passengers are obliged to deliver daily either to the company to which they are affiliated with the vehicle or individually directly to the replenishment Fund and in this event, you must present your receipt of consignment daily, the percentage of the daily produced corresponding to the capital recovery of the previous day. Failure to comply will result in the failure to deliver the order of business by the company until this obligation is met.

CHAPTER VI.

COMPANY OBLIGATIONS.

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ARTICLE 16. COLLECTION OF CONTRIBUTIONS. Public passenger service companies are obliged to collect daily the amount of the production of the previous day corresponding to the capital recovery item, collected that will be made against the order of dispatch to be issued to drivers of vehicles.

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ARTICLE 17. CONSIGNMENT. The company shall record the total amount collected during the month, the first working day of the following month in the Fund account to be opened for that purpose. Failure to comply will result in the imposition of a penalty of 100 (100) statutory minimum daily wages in force for each day of default in making such a consignment.

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ARTICLE 18. SANTIONS. Failure by the company to comply with any of the obligations prescribed in this law will result in a penalty of one hundred (100) daily minimum legal wages in force for each time they incur such non-compliance.

CHAPTER VII.

CONTROL OVER THE COMPANY.

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ARTICLE 19. CONTROL. The Ministry of Transport and the Banking Superintendency, will exercise control and sanctioning powers enshrined by law for the surveillance of these funds, of the companies in order to verify the compliance of their obligations under this law, for which you may request any reports that you consider relevant.

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ARTICLE 20. TAX REVIEWER. The tax reviewer of each company will certify the payments made by the company to the Fund, by means of a written communication and addressed to the mayor of the respective locality with a copy to the Ministry of Transport.

CHAPTER VIII.

PHYSICAL DISINTEGRATION.

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ARTICLE 21. PHYSICAL DISINTEGRATION. Every vehicle that complies with its life cycle according to the provisions of the law, must undergo a process of physical disintegration. This will be regulated by the Ministry of Transport and controlled by the competent authorities.

CHAPTER IX.

FINAL PROVISIONS.

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ARTICLE 22. In relation to vehicles of public public transport of passengers with metropolitan and/or urban radio of action, model 1970 to 1974, which in force of Law 105 of 1993 and under the parameters of Resolution 1919 of 1995, submitted to the process of transformation, before the entry into force of the Law 336 of 1996, will proceed as follows:

-These vehicles must be subjected to a technical-mechanical rev-ion process.

-As long as it is determined in this process that they comply with the required technical-mechanical conditions, be of model 1970 and comply with the provisions of the previous paragraph, the extension of the useful life will be recognized for three (3) years.

-As long as it is determined in this process that they comply with the required technical-mechanical conditions, be from 1971 to 1974 and comply with the provisions of the previous paragraph, the extension of the service life by two (2) will be recognized. years.

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ARTICLE 23. COMPANY REPLACEMENT FUNDS. The owners of public transport vehicles for metropolitan and/or urban radio passengers who, under the provisions of Laws 105 of 1993 and 336 of 1996, have contributed to a fund (a) a replacement created by the company to which they are bound may voluntarily continue in that Fund or benefit from the Fund created by this law. If the resources of the vehicle are to be eligible for the new Fund, it must be transferred directly from one fund to the other, either by means of an equivalent bond or in ordinary currency.

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ARTICLE 24. Fines. The fines collected for the penalties provided for in this law must be entered in the National Fund for the Replenishment of the Auto Park of the Public Service of Land Transportation, which will be managed in a special account to be called "Transport Social Development", whose objective will be to contribute to the development of social protection policies for the drivers of vehicles to be replaced. The National Government will allocate resources to the Fund to this account for the improvement of the social aspects of transport.

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ARTICLE 25. EFFECTIVE AND REPEALED. This law governs from the date of its sanction and repeals provisions that are contrary to it, in particular Article 59 of Law 336 of 1996.

The President of the Honorable Senate of the Republic,

CARLOS GARCÍA ORJUELA.

The Secretary General of the honorable Senate of the Republic,

MANUEL ENRIQUEZ ROSERO.

The President of the honorable House of Representatives,

GUILLERMO GAVIRIA ZAPATA.

The Secretary General of the honorable House of Representatives,

ANGELINO LIZANO RIVERA.

COLOMBIA-NATIONAL GOVERNMENT

Publish and comply.

Dada en Bogotá, D. C., at 23 August 2001.

ANDRES PASTRANA ARANGO

The Minister of Finance and Public Credit,

JUAN MANUEL SANTOS CALDERÓN.

The Minister of Transport,

GUSTAVO CHANNEL MORA.

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