Key Benefits:
SUMMARY:
Pags.
LEGISLATIVE FUNCTION
NATIONAL ASSEMBLY
LAW:
-Expose the Reform Law to the General Law of Institutional ions of the Financial System and to the Law of Reorder in Economic Matters in the Area-Financial Trib Area ................................................. 2
RESOLUTION:
-Exhorde to the National Government, in the person of the President Constitu cional de la República, declare the State of emergency in the province of Guayas and take the actions that such It also includes within this declaration of a state of exception to the other provinces of the Ecuadorian coast that are also being affected by the temporary winter storm, such as: Los Rios, El Oro, Esmeraldas, Manabi and Santa Elena ..................................................... 5
ELECTORAL FUNCTION:
NATIONAL ELECTORAL COUNCIL:
RESULTS:
-Exempt the results of the Popular Consultation in La Concordia ...................................................... 5
INTERNAL REVENUE SERVICE:
RESOLUTION:
NAC-DGERCGC12-00101 Approve the Economic Transactions and Operations Report
Financial (ROTEF) ....................................... 6
S U P L E M E N T O
Ano III r Nº 659
Quito, lunes 12 de
March del 2012
Value: US$ 1.25 + IVA
ING. HUGO ENRIQUE DEL #3; #3;
BARREZUETA
DIRECTOR
Quito: Avenida 12 de Octubre
N 16r90 y Pasaje Nicolas Jimenez
Address: Telf. 2901 r629
Officias centrales y sales:
Telf. 2234 r540
Distribution (Storeroom):
ManoscaNº 201 yAv. 10 deAgost
Telf. 2430 r110
Sucurs Guayaquil:
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from el 1st de julio de 1895
2 -- Supplement -- Official Registration No. 659 -- Monday, March 12, 2012
NATIONAL ASSEMBLY Office No. SAN-2012-0230 Quito, March 9, 2012 Mr. Engineer Hugo del Pozo Barrezueta Director of the Official Register City Of My Consideration: The National Assembly, with the powers conferred upon it by the Constitution of the Republic of Ecuador and the Organic Law of the Legislative Function, discussed and approved the project of REFORM LAW TO THE GENERAL LAW OF INSTITUTIONS OF THE FINANCIAL SYSTEM AND TO THE LAW OF REORDERING IN ECONOMIC MATTERS IN THE AREA FINANCIAL-FINANCIAL. In session on March 6, 2012, the National Assembly plenary met and gave a statement on the partial objection presented by the Constitutional President of the Republic. The text of the REFORM LAW TO THE GENERAL LAW OF THE INSTITUTIONS OF THE SYSTEM, as provided for in Article 138 of the Constitution of the Republic of Ecuador and Article 64 of the Organic Law of the Legislative Function, is explained by the above. FINANCIAL AND ECONOMIC REORDERING LAW IN THE TAX-FINANCIAL AREA , so that it can be published in the Official Register. Intently, f.) Dr. Libya Rivas O., General Secretary.
NATIONAL ASSEMBLY
THE PLENO
CONSIDERING:
What, Article 321 of the Constitution of the Republic of Ecuador provides that the State recognizes and guarantees the the right to property in its public, private, community, state, associative, cooperative, mixed, and that it must fulfill its social and environmental function; that, the third indent of article 2 of the Organic Law of the Popular and Solidarity Economy and of the Popular and Solidarity Financial Sector establishes that the mutual associations of savings and credit for housing " will be governed by the General Law of Institutions of the Financial System"; What, Article 2 of the General Law of Institutions of the Financial System determines that the associations
mutual savings and credit for the housing are private financial institutions, whose main activity is the collection of resources from the public to finance the housing, construction and family welfare of their partners; In the case of the mutual associations of savings and credit for housing, for the purpose of to incorporate the figure of social capital and provide them with a sustainable and sustainable economic regime that grants their partners political, economic and property rights, which are aimed at strengthening the social object of mutualism, in order to promote their growth and to generate profitability in the pursuit of greater and better financial services that guarantee their permanence as financial entities in place and generate important sources of employment and dynamicators of the national economy; Article 133 of the Constitution of the Republic of Ecuador provides that there will be organic laws and Ordinary, which will be organic, which will regulate the organization and functioning of the institutions created by the Constitution, in which case the Superintendence of Banks and Insurance is found; What, Article 221 of the General Law of Institutions of the Financial System establishes that this legal body has the character of special law, so it is necessary to hierarchize it at the level of organic according to the constitutional mandate invoked; that, it is necessary to establish the mechanisms for the collection of the property losses of financial institutions whose liquidating processes culminating until December 2010; that, it is necessary to establish the mechanism of designation of the defenders of the client in each banking institution; and, in exercise of their faculties and attributions, constitutional and legal, it exasks the following, REFORM LAW TO THE GENERAL LAW OF INSTITUTIONS OF THE FINANCIAL SYSTEM AND TO
THE ECONOMIC REORGANIZATION LAW IN THE TAX AREA-
FINANCIAL
Art. 1.- Replace the second paragraph of Article 2 of the General Law of the Institutions of the Financial System, for the following:
" The mutual associations of savings and credit for housing are institutions whose main activity is the The collection of resources from the public to finance the housing, construction, and family welfare of their associates, for which they will be able to invest prior authorization from the Superintendence in institutions of auxiliary services of the financial system of real estate or other service institutions Superintendency-qualified auxiliaries whose unique object is
Supplement -- Official Registration No. 659 -- Monday, March 12, 2012 -- 3
relates to the business's own business turnaround activities, which must be evidenced in the composition of the association's assets. mutualist. " Art. 2.- Replace the first paragraph of Article 191 of the General Law of the Institutions of the Financial System with the following: " The Mutual Associations of Savings and Credit for Housing, which are institutions of private law for the purpose of They will acquire their legal status through the approval of their status p r the Superintendence. To initiate operations, they shall require the certificate of authorization referred to in Article 13 of this Law. " Art. 3.- Replace Article 192 of the General Law of the Institutions of the Financial System, as follows:
"ARTICLE 192.- The social capital of a mutualist shall be variable and unlimited. The minimum amount of social capital paid to constitute a mutual fund will be US$ 788,682. This capital shall be represented by contributions paid by its members.
The value of the certificates of contribution shall be established for the constitution of a mutualist and shall be stated in its statute. The general meeting of partners may change the value through a reform of its statute. According to the provisions of this Law, the statute and its reforms will be approved by the Superintendent. The contribution certificates are not redeemable and may be freely transferable by the partners, who must register such transfers in the institutions in which they have their contributions. The transfers will take effect from the date of their registration.
It is applicable to the mutual associations of savings and credit for housing the provisions of this Law, the provisions of the Codification of the Resolutions of the Superintendence of Banks and Insurance and of the Banking Board. " Art. 4.- Replace Article 193 of the General Law of the Institutions of the Financial System with the following: " ARTICLE 193.- They are partners of the mutualists, the persons who hold certificates of contribution, who are gathered together Member-General and in accordance with its social status shall elect the members of the Board, subject to the rules laid down in the Rules of Procedure governing the organisation and operation of these institutions and the general rules which are the effect is issued by the Banking Board. The contribution certificates represent the participation of the capital of the partners in the mutualist, giving them the right to vote, regardless of the number of contribution certificates each one pays. No natural or legal person may hold in certificates of contribution, directly or indirectly, more than 6% of the capital of the mutualist. In relation to the number of partners for the constitution of these institutions, the resolution will be included in the resolution that will regulate its constitution, organization, operation and liquidation, dictated by the Banking Board.
In no case will restrict the entry of new members to the mutual associations of savings and credit for the housing once the minimum amount of capital of the constitution has been reached due to its characteristic of variable and unlimited, owing to its income the value of the certificate of contribution laid down in the status of each institution. '
Art. 5.- Substitute Article 195 of the General Law of Institutions of the Financial System by the following: "ARTICLE 195.- In addition to the authorized operations, with the exceptions mentioned in Article 2 of this Law, the associations Savings and credit mutualists for housing will be able to invest directly in specific projects aimed at housing and construction development. In addition, they may invest in auxiliary services institutions of the real estate financial system or in other institutions of auxiliary services qualified by the Superintendence whose exclusive object is related to the activities of the spin of the business. Own investments in specific projects geared to the development of housing and construction may not exceed 100% of their technical heritage. Under no circumstances will a single investment project be able to have 100% of the allocated quota. The total of the quota will have to be distributed in several investments for which the Superintendence of Banks and Insurance will dictate the respective regulation that rules the management and control of that quota. " Art. 6.- Replace Article 221 of the General Law of Institutions of the Financial System, as follows: " This Law shall have the character of Organic. In all that is not provided for in this Law, the Law of Companies, Code of Commerce, Civil Code and the related law will be applied in a way that is applicable. The privileges that the Law of Companies confers on the Superintendent or the Superintendence of Companies will be exercised, with respect to the financial institutions by the Superintendent or the Superintendence of Banks and Insurance, as the case. " Art. 7.- Replace the General Disposition Third of the General Law of Institutions of the Financial System, as follows:
" The clients of each of the entities that are members of the Public and Private Financial System, will have an advocate or defender of the client, principal and alternate, who will represent them and who will be elgidos, from one of them or them, from a process organized by the Council for Citizen Participation and Social Control. The remuneration of the defender or defender of the clients of each entity that makes up the Public and Private Financial System, will be cancelled by the Superintendence of Banks and Insurance, coming from the specific contribution that each entity makes for the effect, for which the Superintendence will issue the respective regulations. The client advocate or advocate may not have any kind of connection with the shareholders, members or administrators of the financial institution. Its role is to protect the rights and interests of the client. Your
4 -- Supplement -- Official Registration No. 659 -- Monday, March 12, 2012
duties, duties and duration of duties shall be regulated by the Banking Board, which shall issue by resolution the "
Art. 8.- Incorporate the following transitional provision in the Law of Reordering in Economic Matters in the Tax-Financial Area: "DECIMAL .-Grant jurisdiction to the Superintendent of Banks and Insurance for the collection of the property losses of financial institutions whose settlement processes culminated in December 2010. The co-active processes shall be initiated against the shareholders representing six per cent (6%) or more of the equity capital at the time the financial institution is submitted to the restructuring, reorganisation or forced liquidation process, as well as against the principal administrator and legal representative. The Superintendence of Banks and Insurance will determine the qualities referred to in the previous paragraph, and may dictate real precautionary measures, within the coactive, on the goods that are of public knowledge are owned by those shareholders, administrators or legal representative, if any. The above, without prejudice to the civil, administrative and criminal responsibilities to which the financial institutions were administered during the reorganisation or restructuring period by the Guarantee Agency of the European Union. Deposits and subsequent settlement. In the event that the control entities determine the responsibilities of temporary administrators and liquidators, they shall grant the same jurisdiction to the Superintendency of Banks and Insurance to exercise against such officials. ' The Banking Board shall issue the general rules necessary for the application of this provision.
GENERAL CHOICE: FIRST .-In case of dissolution and voluntary liquidation or forced liquidation of an association savings and credit mutualista for the functioning housing to the issuance of this reform law, after all the accrecias and expenses that demand the liquidation and to exist remnant, the Banking Board will issue in each case the rules on the destination of the accumulated historical wealth balance recorded as Irreparable legal reservation. TRANSIENT PROVISIONS: FIRST. - The current savers of the mutual savings and credit associations for housing who wish to be members of these entities, must make the payment of the value of the certificate of contribution established in the statute of each entity, in the form or deadlines determined by the general meeting of partners. Current account savers who do not wish to be partners in these entities or who wish to be non-partners will not pay the certificate.
The existing housing savings and credit associations for housing of this law, within a period of up to five years must pay the minimum capital of US$ 788,682, according to the following minimum capital approximation timetable: Until 31 December 2013 20%
Until 31 December 2013 2014 40%
Until December 31, 2015 60%
Until December 31, 2016 80% Until the December 31, 2017 100% In the event of failure to reach the percentages set out in the transitional present, it shall be within the meaning of Article 142 of the General Law of Institutions of the Financial System. SECOND.-The value of the accumulated historical patrimony of the mutual savings and credit associations for housing, which are constituted at the date of issue of the reforms to this Law, will be registered in a legal reserve irpartible, which will be part of its total heritage. The annual surplus, after the statutory deductions, shall be distributed proportionally between the partners and the legal reserve containing the historical assets accumulated on a pro rata basis for their participation in each of the mutualists. prior to the issuance of this Law r formatory. For the purposes of the Internal Tax Regime Law, the increase of this legal reserve with the surplus will be reinvested. THIRD.- The Banking Board, within one hundred and twenty (120) days, counted from the publication of this Law in the Official Register, shall issue the respective Resolution for the constitution, organization, operation and settlement of mutual savings associations and credit for housing, in order to bring it into line with the provisions of the General Law of Institutions of the Financial System. FOURTH. - The Banking Board shall issue the general rules requiring, for the implementation of these reforms, within one hundred and twenty (120) days from the date of publication in the Official Register of the Executive Decree governing the organisation and operation of mutual savings and credit associations for housing. QUINTA.- The Council for Citizen Participation and Social Control within 90 days of entry into force of this Law, will normalize the procedure for the election of client defenders d the institutions of the financial system Public and Private. SIXTH.- The Council of Citizen Participation and Social Control within the maximum period of 180 days of entry into force of this Law, will culminate the process of choice of the defender or defender of the client belonging to each of the Institutions of the Public and Private Financial System.
Supplement -- Official Registration No. 659 -- Monday, March 12, 2012 -- 5
Given and subscribed to the National Assembly headquarters, located in the Metropolitan District of Quito, Pichincha Province, at the end of the month of March of two thousand twelve. f) Fernando Cordero Cueva. President. (f) Dr. Libya Rivas, Prosecatórigen General. CERTIFIED that the National Assembly discussed and approved the REFORM LAW TO THE GENERAL LAW OF INSTITUTIONS OF THE FINANCIAL SYSTEM AND THE LAW OF REORDERING IN ECONOMIC MATTERS IN THE TAX-FINANCIAL AREA, in the first debate on 31 In October 2011, in the second debate on 5 and 24 January 2012, and on the partial objection of the President of the Republic on 6 March 2012. Quito, March 6, 2012 f.) Dr. Libya Rivas O., General Prosecretary.
NATIONAL ASSEMBLY
THE PLENO
CONSIDERING:
That, the strong winter season that especially affects the country's Costa region, has increased in the Recent days and has produced floods in several cantons in the province of Guayas, due to the overflow of the Chimbo, Chanchan, Payo, Bolivar, estuary El Chorrón and others, which have caused havoc in Marcelino Mariduena, Yahuachi, El Triunfo The Commission is also in the same way as the other regions of the Community. That, several families that live in this region of our nation, have been evacuated and hundreds of hectares of sugar cane and banana plantations, have been left under the water, also affected the homes and the crops of rice; That, the declaratory of alerts issued by the National Secretariat of Risk Management are hardly sufficient to execute evacuations or to adapt shelters, being emergent access to resources for the palear of the intakes and various necessities of the stocks concerned; whereas, in compliance with the provisions of Article 226 of the Constitution, it is the duty and obligation of the National Assembly, to assist with the initiative of the Prefect of the Guayas, in actions that guarantee the rights established in Articles 66 numeral 27 and 83 numeral 9 of the constitutional text; 32 first of the Constitution establishes that the National Assembly will approve the general rules of common interest, and that the
powers of the National Assembly that does not require the issuance of a law will be exercised through agreements or resolutions; that any river precipitation will be considered a danger to our country; that is why we need an immediate State of Exception declaration for not only referring to agricultural losses, but also human lives; and, In exercising its constitutional and legal privileges,
RESOLVES:
Article 1.- Urge the National Government, in the person of the Constitutional President of the Republic, to declare the State of Exception in the province of Guayas and to adopt the actions that such a declaratory carries. Also include within this declaration of State of Exception to the other provinces of the Ecuadorian coast that are also being affected by this severe winter storm, such as: Los Rios, El Oro, Esmeraldas, Manabi and Santa Elena. Article 2. Demandar of the Ministers of Economic and Social Inclusion, Housing and Health carry out joint actions in order to provide timely assistance to the affected populations. Article 3.- To request the National Government to provide the Ecuadorian State with the necessary resources for the restoration and construction of the housing and other affected goods. Article 4.- Open a space for dialogue through a commission of assembly members, with the executive branch, so that this exhort will be analyzed immediately, as the case or requires. Given and subscribed at the headquarters of the National Assembly, located in the Metropolitan District of Quito, Pichincha province, on the first day of March 2012. f.) Fernando Cordero Cueva, President.
f.) Dr. Andrés Segovia S., Secretary General. NATIONAL ASSEMBLY.-I certify: That it is faithful copy of the original that rests in the archives of the National Assembly.-Quito, March 07, 2012.-f.) Dr. Libya Rivas O., General Prosecretary.
NATIONAL ELECTORAL COUNCIL
RESULTS POPULAR CONSULTATION
THE CONCORDIA
Pursuant to the provisions set out in the Executive Decree No. 946 of 28 November 2011, the economist Rafael
