Act 1731 2014

Original Language Title: LEY 1731 de 2014

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ACT 1731 2014
(July 31)
Official Gazette No. 49,229 of July 31, 2014 CONGRESS OF THE REPUBLIC

By which measures are taken on financing for reactivation agricultural, fisheries, aquaculture, forestry and agro-industrial sector, and other provisions related to the strengthening of the Colombian agricultural Research Corporation (Corpoica) are issued. Summary

Term Notes

THE CONGRESS OF COLOMBIA DECREES:
ARTICLE 1o. OBJECT. This law is intended to take action, especially in financing, aimed at promoting the reactivation of the agricultural, fisheries, aquaculture, forestry and agro-industrial sector, and strengthen the Colombian Agricultural Research Corporation (Corpoica).

TITLE I MEASURES ON FINANCING FOR SECTOR.

CHAPTER I. FINANCIAL INSTRUMENTS FOR DEVELOPMENT OF THE SECTOR.
Article 2.
. RURAL MICROFINANCE. In order to promote access to credit in rural areas, and from the resources available, believe the Fund Rural Microfinance as a fund without legal status, administered by the Fund for Financing the Agricultural Sector (Finagro) as separate assets of its manager, in order to fund, support and develop rural microfinance in the country.
PARÁGRAFO. To set up the Fund, the Government may transfer to this fund, one-time resources to fund the program created by Law 1133 of 2007, and recovery portfolio of existing agreements microcredit Ministry of Agriculture and Rural development financed through schemes multilateral banks, as well as having originated in the General Budget of the Nation, which may enter the Fund once incorporated into the budget in terms of organic standards governing the matter in accordance the Fiscal Framework and Medium Term expenditure Framework Medium-term the agricultural sector. Effective Notes


ARTICLE 3. CREDITS EVALUATION PROCESS OF AGRICULTURAL. In order to facilitate the processing of agricultural credits, amend paragraph 2 of Article 14 of Law 16 of 1990, incorporated in the third paragraph of paragraph 4 of Article 228 of the Organic Statute of the Financial System, which will read: | || "2. Approve policies on the re-discountable loans to Finagro by authorized entities for the purpose. By adopting such policies it will take into account that it is the responsibility of the entities that grant credit, credit risk assessment and compliance with the requirements of the regulation that applies, especially those issued by the National Agricultural Credit Commission ".

ARTICLE 4. DESTINATION OF RESOURCES OF CREDIT FOR AGRICULTURAL PRODUCTS PROCESSING ACTIVITIES SECTOR. Amend eleventh paragraph of Article 26 of Law 16 of 1990, incorporated in letter j) of Article 220 of the Organic Statute of the Financial System, which will read:
"- For the establishment of cold chains and generally for the processing and preservation of agricultural, livestock, apiculture, poultry, fishing, aquaculture and forestry "products.

The 5th ITEM. EXTENDING THE OBJECT OF NATIONAL AGRICULTURAL FUND RISKS AND TAKES MEASURES TO FACILITATE FARMERS INSURANCE. In order to stimulate the supply of agricultural insurance, and from the resources available from the National Agricultural Risk Fund that treats the Law 69 of 1993, which will be administered by Finagro, may co-finance the costs for the technical strengthening of agricultural insurance and obtaining information that is not public. For purposes of information which rests on public bodies, this will have no cost to Finagro and other entities that define the national government, which also define the conditions of access to it. Similarly, in order to promote risk management in the agricultural sector, may be granted subsidies, support or incentives for the implementation of instruments for risk management in agriculture, forestry, fisheries and aquaculture, such as financial derivatives climate, price hedging or currency risk. The National Agricultural Credit Commission shall regulate these co-funding, subsidies, support or incentives. In any case, approved the Framework of Medium Term Expenditure in the agricultural sector resources are taken into account.
The conditions of insurability of agricultural, forestry, fisheries and aquaculture projects, the subject of agricultural insurance will be defined by the National Agricultural Credit Commission.


ARTICLE 6o. AGRICULTURAL FUND OF WARRANTIES (FAG) AS A TOOL TO PROMOTE SECTOR. To develop the Agricultural Guarantee Fund (FAG) as a tool to boost the agricultural sector access to financing, amend Article 28 of Law 16 of 1990, incorporated in paragraph 2 of Article 231 of the Organic Statute of the Financial System, which will read:
"Article 28. Purpose of the Agricultural Guarantee Fund. Agricultural Guarantee Fund (FAG) created by Law 21 of 1985, will aim to serve as a specialized fund to guarantee loans and financial transactions to finance projects in the agricultural, fisheries, aquaculture, forestry, and rural general . In the case of non-financial operations of credit character, it can only provide guarantees to transactions carried bags of goods and agricultural, agro-industrial or other commodities, supervised by the Financial Superintendence of Colombia products. PARAGRAPH 1.
. The National Agricultural Credit Commission will determine the economic conditions of secured users, the individual amount of loans or operations which guarantees, coverage and guarantees commissions and operational rules of the Fund. For this purpose, priority will be given to small producers, subject to granting of guarantees for medium and large, according to the guidelines of agricultural and rural policy. PARAGRAPH 2.
. The guarantees will be automatically issued with registration or rediscount credit or financial transaction to Finagro, and will be automatic and irrevocable payment when the intermediary meets the formal requirements of the operating regulations of the Fund. There will be only in the loss of validity of the warranty, non-payment or reimbursement to the FAG the amount paid to the financial intermediary where:
1. The broker does not timely pay the guarantee fee.
2. When for obtaining credit, secured transaction, FAG warranty or renewal or payment, any pretermitido compliance with any of the requirements established by the National Agricultural Credit Commission.
3. The intermediary does not present timely, or not corrected within the term provided for the purpose, to Finagro, the documents required for payment of the guarantee in terms of operational FAG regulation issued by the National Agricultural Credit Commission. The power to determine these documents not be delegated. PARAGRAPH 3.
. Agricultural Guarantee Fund (FAG) may grant guarantees individually, global and / or portfolio limits or groups of intermediaries. The National Agricultural Credit Commission may rule on whether or not the legal collection and recovery of the claimed guarantees and provide for the creation of guarantee products without recovery or subrogation.
PARÁGRAFO 4o. Notwithstanding the provisions of Article 11 of Law 69 of 1993, the FAG may receive resources, public or private entities to subsidize the fee for issuing guarantees for small and medium producers.
CHAPTER II.
NATIONAL AGRICULTURAL REVITALIZATION PROGRAM (PRAN) SOLIDARITY FUND AND AGRICULTURAL (Fonsa).

ARTICLE 7. SPECIAL RELIEF TO DEBTORS OF THE NATIONAL PROGRAM (PRAN) AGRICULTURAL REVITALIZATION AND SOLIDARITY FUND FARMING (Fonsa). All debtors of the National Program for Agricultural Reactivation (PRAN), and others that is article 1 of Law 1504 of 2011, and debtors December 2013 Solidarity Fund Agriculture (Fonsa) 31 created by Law 302 1996 may extinguish their obligations by paying cash until 30 June 2015, the value Finagro paid at the time of acquisition of the respective obligation. This does not imply a reduction in the time limit for payment of obligations after that date maturities. PARAGRAPH 1.
. Those debtors who have made fertilizers capital may terminate its obligations canceling the difference between the value given above and fertilizers previously made. Should the payments made exceed that amount, the debt is considered paid in full, with no place to seek reimbursement of the amount paid above that value. PARAGRAPH 2.
. Debtors who have benefited from a modification or refinance its debt as is regulated in the PRAN Programs or Fonsa, may benefit from the provisions of this Act, in which case the obligation refinanced is reliquidará to determine the value pay.
PARAGRAPH 3.
. Debtors who wish to qualify for this benefit must present proof in respect of life insurance and fees, the latter, where it has been filed against the judicial collection of obligations. The program will take all legal costs and expenses other than fees paid by debtors.

Article 8. COLLECTION AND SUSPENSION OF PRESCRIPTION FOR DEBTORS OF PRAN AND Fonsa. Finagro or the entity they hold as an administrator or creditor of the obligations of PRAN Programs and / or Fonsa, refrain from advancing their judicial collection from the entry into force of this law until June 30, 2015, term within which both understand suspended collection actions such as prescribing them and their guarantees, according to the Civil Law.
PARÁGRAFO. The foregoing shall apply without prejudice to the procedure of bankruptcy proceedings.

Article 9. ACTIONS OF CHARGE TO DEBTORS AND Fonsa PRAN. Notwithstanding the suspension referred to in the preceding article, Finagro or the entity they hold as an administrator or creditor of the obligations of PRAN Programs and / or Fonsa, have the obligation to initiate and advance collection actions corresponding beginning January 1 October 2014 against debtors who have not received the benefit of the article is about the 7th of this law, if overdue obligations deadlines warrant the start of the collection. PARAGRAPH 1.
. The processes of this Article shall not be subject to suspension in the preceding article refers to. In any case, the defendant debtor retain the benefit for payment under the 7th article of this law, if there resolviere willing to avail parameters. PARAGRAPH 2.
. Finagro or the entity they hold as an administrator or creditor of the obligations of PRAN Programs and / or Fonsa, you should refrain from advancing the judicial recovery against a debtor, when the total amount of credit as capital for the various obligations in PRAN programs or Fonsa, is equal to or less than the equivalent in the respective year to six (6) monthly legal minimum wages, in which case you can only forward the preliminary charge. Finagro may enter into agreements to pay fees to lawyers or collection firms who advanced collection processes covered by this measure. PARAGRAPH 3.
. The values ​​owed by beneficiaries of the PRAN and Fonsa Programs, deemed by Finagro as irrecoverable for failure to executive collection or death of the debtor not indemnified by the life insurance may be released accounting program, charging the income statement an obligation on their purchase value and other concepts accessories, which will be covered by financial returns and portfolio revenues.
PARÁGRAFO 4o. Under financial returns and portfolio revenues of PRAN and Fonsa programs, they may be met all program expenditures are made and that in the future be approved. If a program does not have PRAN resources to cover the expenses indicated, you may use other programs PRAN, for this purpose.

FERTILIZER APPLICATION ARTICLE 10. PARTIAL AND OTHER MEASURES TO DEBTORS AND Fonsa PRAN. The partial installments made during the term of the Laws 1328, 2009, 1380, 2010, 1430, 2010 and 1504 2011 for debtors PRAN, as well as under the provisions of this law for debtors at 31 December 2013 the PRAN and Fonsa, may be applied until 30 June 2015 to its obligations, for the benefit of the article is about the 7th of this law, which applies decreasing the capital required in the proportion corresponding to the payment made as provided by this law as minimum payment. PARAGRAPH 1.
. Debtors who made the minimum payment of capital and insurance premium owed obligation under the force of Laws 1328, 2009, 1380, 2010, 1430, 2010, 1504, 2011, for debtors PRAN, as well as under the provisions of this law, debtors PRAN and Fonsa that is law 302 of 1996, which was found in judicial recovery, subsequently credited the payment of attorney's fees, they may forgive them the value of premiums insurance have been caused between the minimum payment and presentation of peace and except for fees, value that will be taken by the respective PRAN Program or the Fonsa where such securities are not reimbursed by the insurer.
PARAGRAPH 2.
. In order to reduce the value to be paid for life insurance by debtors from the date of entry into force of this law, and until June 30, 2015, Finagro may continue taking insurance life debtors PRAN group on the Fonsa obligations or using as insured value of each bond which the debtor would have to pay to apply the benefits provided in this law.

ARTICLE 11. EXTENSION OF GOALS Fonsa. Amend article 1 of Law 302 of 1996, which will read:
"Creating and objectives. Believe Fund Agricultural Solidarity, as fund special account separate from the resources of the Ministry of Agriculture and Rural Development, whose sole objective is to provide financial support to small and medium agricultural, forestry, aquaculture and fisheries producers, for the care and relief their debts when developing such activities any of the situations which Article 2 of this law refers to arise. Also they are beneficiaries of the support under this Act holders or integrators schemes associative credit or strategic alliance, which have been rediscounted or registered with Finagro or granted generally for the agricultural sector, in relation to the portion of such credits corresponding to integrated or associates that qualify as small or medium producers.
The Ministry of Agriculture and Rural Development may enter into a trust for the administration of the Fund for Agricultural Solidarity and contracts for management or portfolio purchase or granting relief with any entity authorized to effect which it is empowered to buy portfolio establishments, public or private credit and portfolio of Agricultural Guarantee Fund (FAG).
For the purposes of this Act shall be considered as a small producer to those individuals who meet the following conditions:
a) its total assets not exceeding two hundred and fifty minimum monthly wages (250 smlmv) included your spouse or partner (a) permanent, according to trade balance. In the case of users of land reform, the value of the land can not be computable within these total assets;
B) not less than two-thirds (2/3) of their income comes from farming and / or fishing or have at least seventy-five percent (75%) of its assets invested in agriculture, forestry, aquaculture or fisheries sector, the trade balance.
For the purposes of this law that natural or legal person primarily related to the production or marketing of agricultural, forestry, aquaculture or fisheries activities are considered by medium-sized producers that when requesting the support count on total assets not exceeding seven hundred minimum monthly wages (700 smlmv), including your spouse or partner (a) permanent, depending on its trade balance. "

ARTICLE 12. EXTENSION OF CRISES OBJECT OF Fonsa. Amend Article 2 of Law 302 of 1996, which will read:
"situations of crisis. The Fund for Agricultural Solidarity, according to the availability of resources, acquire financial intermediaries portfolio of producers beneficiaries of this law, or intervene as authorized in this law when its Board qualifies the occurrence of some of the following events, nationally or in certain areas, departments, regions or municipalities, or in respect of a particular product or agricultural or fishing activity:
a) a situation of extreme climatic type or a natural disaster resulting in losses mass production;
B) phytosanitary problems or pests affecting general and severely crops or agricultural and fishery products, significantly reducing the quality or volume of production, as long as these phenomena are uncontrollable by the individual action of the producers;
C) Well-known public disorder that seriously affect the production or marketing agricultural and fisheries;
D) severe and sustained income for producers, under the terms regulating the National Government Falls.
PARÁGRAFO. The Board shall establish that the event in question occurred during the production cycle or the marketing period, meaning the period of ninety (90) days following the completion of the process of production days. "


ARTICLE 13. EXTENSION OF FUNCTIONS Fonsa. Amend Article 4 of Law 302 of 1996, which will read:
"functions. In furtherance of its object and in relation to agricultural producers and fish beneficiaries of this law, the Fund may perform the following operations in the manner as determined by its Board of Directors, with priority in the use of resources in favor of small producers :
1. Buy whole or in part loans granted by credit institutions as well as the portfolio of the Agricultural Guarantee Fund (FAG), and agree with debtors deadlines and financial conditions of the obligations acquired and the method of payment, for Board which will mark its special conditions of favorability for the benefit of the producer. The purchase of the portfolio is made according to technical evaluation criteria. In the case of sale of portfolio Banco Agrario de Colombia SA, the criteria also must be approved by the Board of Directors of the credit institution.
2. Fully or partially subsidize the financial costs of loans granted by credit institutions.
3. temporarily invest their resources in debt securities issued by the nation, the Central Bank, credit facilities or other institutions supervised by the Financial Superintendency, when liquidity surpluses arise.
4. Perform repurchase land.
5. Buy all or part of non-financial liabilities to agricultural activity and expired on December 31, 2013 to third parties, and agree with debtors deadlines and financial conditions of the obligations acquired and the method of payment for which its Board of Directors indicate special conditions of favorability for the benefit of the producer. The purchase of the portfolio to current standards and technical evaluation criteria and defining the national government will be conducted.
ARTICLE 14. CHANGING ROLES
BOARD OF DIRECTORS ON PORTFOLIO RECOVERY Fonsa. Amend article 8 of Law 302 of 1996, which will read:
"Portfolio Recovery. Authorize the Board of Directors of the Agricultural Solidarity Fund to regulate all matters relating to the recovery of the acquired portfolio. The Board of Fonsa may determine the amount to be paid by the beneficiaries, deadlines, dead periods and / or grace, and decide on the extension of term or restructuring of obligations, and transfer to beneficiaries of discounts obtained in buying them. "

ARTICLE 15. AGREEMENTS AND SANITATION PORTFOLIO RECOVERY AGRICULTURAL. Given the involvement of the agricultural sector, with the social purpose of facilitating the recovery of small and medium producers, without prejudice to the financial and commercial regulations applicable to credit institutions, is empowered to Banco Agrario de Colombia SA, and Finagro, as administrator of the Agricultural Guarantee Fund (FAG), to conclude agreements recovery and payment of past due loans, standardized, punished or distressed at December 31, 2013, as appropriate, which may include the cancellation of current interest and blackberry and remove capital, under the terms and limits set by the Government by decree of the Ministry of Agriculture and Rural Development, on behalf of those who have qualified as small or medium producers when processing the respective credit according to regulations agricultural credit.

ARTICLE 16. LINE OF CREDIT FOR PAYMENT OF NON-FINANCIAL LIABILITIES. Empower the National Agricultural Credit Commission to create and define the requirements for a credit line to finance the payment of non-financial liabilities by agricultural producers, with third parties, aimed at financing agricultural activity, expired at December 31
2013. producers in this article refers to correspond to those defined in Article 11 of this law.

ARTICLE 17. CAPITAL AND LEGAL STATUS OF FINAGRO. Adapt the following measures in order to stimulate the strengthening of Finagro, as an entity that facilitates access to credit in the agricultural sector:
1. The contributions of the shareholders of Finagro different to the nation and the Banco Agrario de Colombia SA, will be computed as part of compulsory investment in securities Agricultural Development under the terms determined by the Board of the Bank of the Republic.

2. Finagro continue submitting exclusively to own system of mixed economy companies not assimilated to industrial and commercial enterprises of the State, regardless of the participation of public capital in their heritage.

ARTICLE 18 DEDUCTION, PROVISIONS AND RESERVES Agricultural Guarantee Fund. Amend Article 175 of the Tax Code, which was added by section 129 of Act 1607 of 2012, which will read:
"Article 175. The National Guarantee Fund will be entitled to deduct the value of technical reserves annually accident or formed during the respective year. In the same way you can proceed Agricultural Guarantee Fund which is Law 16 1990 regarding provisions and reserves ".

ARTICLE 19. GRANTING OF CERTIFICATE OF FOREST INCENTIVE. To facilitate the financial administration of the Forestry Incentive Certificate entiéndase all effects that allusions to the conclusion of a contract for the provision of Forestry Incentive Certificate (CIF), referred to Law 139 of 1994, shall be referred to an administrative act issued by the Ministry of Agriculture and Rural Development, or the entity that this delegate.
TITLE II.
PROVISIONS RELATING TO THE COLOMBIAN AGRICULTURAL RESEARCH CORPORATION (CORPOICA).

ARTICLE 20. RESOURCES OF THE COLOMBIAN AGRICULTURAL RESEARCH CORPORATION (CORPOICA). The National Government will transfer annually resources of the General Budget of the Nation to the Colombian Agricultural Research Corporation (Corpoica), for the development of its supporting the agricultural sector in science, technology and innovation. The Ministry of Agriculture and Rural Development and Corpoica concluded between goals and results that would be achieved with the resources transferred.
Corpoica is a decentralized public entity indirectly, scientific and technical, mixed participation, non-profit, governed by the rules of private law provided for corporations in the Civil Code, according to Decree Law 393 1991, Article 96 of law 489 of 1998, and the laws that modify or replace.

PARÁGRAFO 1o.Con in order to help improve the productivity and sustainability of agriculture, defining the goals and results referred to in this Article shall consult the needs of agricultural production systems of rural producers, especially those of small producers, as well as research requirements Colombian Agricultural Institute (ICA) in SPS.
If Corpoica dissolution and liquidation of all assets and resources of the Corporation shall pass to the Ministry of Agriculture and Rural Development or the entity that replaces it. PARAGRAPH 2.
. All public resources to administer or execute via transfer or agreement any law enforcement agency or private will control and monitoring fiscal and administrative by the Comptroller and the Attorney General of the Republic.

ARTICLE 21. AUTHORIZATION FOR USE OF BALANCES OF CONVENTIONS. Empower yourself to Public Entities that have funded agreements or contracts ended December 31, 2012 and whose executor is Corpoica, to yield in favor of the Corporation National Order balances unexecuted such agreements or contracts for Corpoica the intended activities science, technology and innovation for the agricultural sector.

ARTICLE 22. Transitory. The nation will allocate from its general budget 2014 the effective date, the resources required to meet the provisions of this law prior compliance with the rules established in the Organic Statute of the budget.
ARTICLE 23.
Adiciónese a paragraph to Article 771-5 of the Tax Code, which will read:
"Paragraph 3o. In the case of cash payments incurred by taxpayers or responsible belonging to the agricultural, fisheries, aquaculture and forestry gradualness under the 1st paragraph of this Article shall apply as follows:
- In the fiscal year 2016 the least between eighty-five percent (85%) of the amount paid or one hundred thousand (100,000) UVT, or fifty percent (50%) of the total costs and deductions.
- In fiscal year 2017, the lowest among the seventy percent (70%) of the amount paid or eighty thousand (80,000) UVT, or forty-five percent (45%) of the total costs and deductions.
- In fiscal year 2018, the lesser of fifty-five percent (55%) of the amount paid or sixty thousand (60,000) UVT, or forty percent (40%) of the total costs and deductions.

- Beginning in the fiscal year 2019, the lesser of forty percent (40%) of the amount paid or forty thousand (40,000) UVT, or thirty-five percent (35%) of the total costs and deductions.
The percentage of fifteen percent (15%) of cash payments without tax recognition as costs, deductions, liabilities or deductible taxes, incurred by taxpayers referred to in this paragraph during 2014, have tax recognition in the income statement for the taxable period 2015.
the gradualness under this paragraph may only be applied to natural and legal persons whose gross income at December 31 of the immediately preceding year is less than 92,000 UVT.
For the fiscal year 2015, shall not apply gradualism under paragraph 1st this article. "

ARTICLE 24. SPECIAL CONDITIONS FOR THE PAYMENT OF TAXES, FEES AND CONTRIBUTIONS. Within twelve (12) non-extendable months following the entry into force of this law, taxpayers, taxpayers or liable for taxes, fees and contributions, the agricultural sector, managed by entities with powers to raise rents, fees or contributions from the national level, which are in arrears for obligations relating to 2010 and prior taxable periods shall be entitled to apply only with respect to obligations caused during such taxable periods, the following special condition of payment:
1 . If payment occurs in cash, the total of the principal obligation plus interest and updated sanctions, for each concept and period shall be reduced to twenty percent (20%) of the value of the default interest incurred to date payment and penalties generated. To this end, the payment must be made within twelve (12) days following the effective date of this law months.
2. If a payment agreement on the total of the principal obligation subscribes plus interest and penalties updated for each concept and period shall be reduced to fifty percent (50%) of the value of default interest accrued until the date of that payment and penalties generated. To this end, the payment must be made within twelve (12) days following the effective date of this law months.
The provisions of this Article may be applied by local authorities in relation to the obligations of their competence.
Those responsible for sales tax and agents withholding benefiting from the provisions of this article are extinguished criminal proceedings, for which they must prove to the competent judicial authority payment or subscription payment agreement, as appropriate, which this article refers to. PARAGRAPH 1.
. Taxpayers, taxpayers, managers and agents withholding taxes and contributions managed by entities with powers to raise rents, rates and contributions of national or territorial level benefiting from the special status of payment referred to in this article and incurred in arrears in the payment of taxes, withholding taxes, fees and contributions within two (2) years following the date of the payment made with reduced value of accrued interest and penalties, they will lose so this benefit automatically.
In these cases the tax authority immediately begin the process of collection of twenty percent (20%) or fifty percent (50%), as applicable, the penalty and interest incurred to date payment of the principal obligation, penalties or interest, and terms of prescription and limitation will start from the date on which payment of the principal obligation is made. PARAGRAPH 2.
. They can access the benefits referred to in this article debtors who have signed agreements payment based on article on the 7th of Act 1066 of 2006, article 1 of Act 1175 of 2007 and Article 48 of Law 1430 2010, that the entry into force of this law are in arrears for the obligations contained therein.
PARAGRAPH 3.
. The provisions of the 2nd paragraph of this article shall not apply to taxpayers, taxpayers, responsible and retention agents that the entry into force of this law, have been admitted to corporate restructuring processes or processes for judicial settlement accordance with the provisions of law 1116 of 2006, or to other taxpayers, taxpayers, responsible and retention agents that the date of entry into force of this law, have been admitted to the restructuring processes regulated by the Act 550 1999 1066 2006 Act and the Performance Agreements.
The taxpayers, taxpayers and withholding agents responsible to which this paragraph relates that fail to comply payment arrangements to which this article automatically lose the benefit embodied in this provision. In these cases the tax authority shall initiate immediately the process of collection of fifty percent (50%) of the penalty and interest accrued to the date of payment of the principal obligation, penalties or interest, and terms of prescription and expiry shall run from the date on which the payment of the principal obligation is made. Editor's Notes


ARTICLE 25 APPLICABILITY AND REPEAL. This law governs from its enactment and repeal all provisions that are contrary. This law does not repeal the 1694 Act
2013. The President of the honorable Senate of the Republic, Juan Fernando Cristo
BUSTOS.
The Secretary General of the honorable Senate,
GREGORIO Eljach PACHECO.
The President of the honorable House of Representatives, HERNÁN
PENAGOS GIRALDO.
The Secretary General of the honorable House of Representatives,
JORGE HUMBERTO SERRANO MANTILLA.
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT
published and enforced.
Given in Bogotá DC, July 2014. Juan Manuel Santos Calderon
31.
The Interior Minister Aurelio Iragorri Valencia
.
The Minister of Finance and Public Credit,
Mauricio Cárdenas Santa María.
The Minister of Agriculture and Rural Development, RUBÉN
DARÍO LIZARRALDE MONTOYA.

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