Read the untranslated law here: http://www.asamblea.gob.sv/eparlamento/indice-legislativo/buscador-de-documentos-legislativos/reformase-la-ley-organica-del-banco-central-de-reserva-d-el-salvador/archivo_documento_legislativo
1 index Legislative Decree No. 88 the Assembly Legislative of the Republic of EL SALVADOR, whereas: I.-that the Art. 168, ordinal 15 ° of the Constitution, sets that is attribution and obligation of the President of the Republic ensure by the effective management and realization of them business public.
II. that by means of Legislative Decree No. 746 of 12 April 1991, published in Official Journal No. 80, volume no. 311, of 3 May this year was issued the law organic of the Banco Central of reservation of El Salvador.
III.-that it is necessary to establish the legal powers that allow public administration select more competent private sector officials, through the opening and diversity of ideas; What must be the corresponding reforms to the law referred to in the previous recital.
Therefore, use of his constitutional powers and at the initiative of the President of the Republic, by the Minister of economy.
DECREES the following: reforms to the organic law of the Bank CENTRAL of reservation of EL SALVADOR article 1.-replacements in article 10, first paragraph, point (d)); as well as the fourth paragraph of that article, by the following: "d) two directors from the non-governmental sector, elected and appointed by the President of the Republic an open list of candidates of Union entities of the private company with legal personality, non-governmental organizations with legal personality related to the subject of Economics, accounting and audit legal personality." Mentioned entities wishing to include candidates on the list, must select them according to their domestic systems. Referring to the literal present procedures will be regulated by law."" (The triads referred to in letters c) and e) should be proposed with thirty days prior to the end of the period of the Director to be replaced. "If not is have proposed the shortlists in the period mentioned, the President of the Bank shall proceed to appoint them".
Article 2.-the directors appointed by the President of the Republic from shortlists proposed by the Association of professionals in economic sciences and by the Council of surveillance of the profession of the 2 index legislation public accounting and auditing that are appointed to the date of entry into force of this Decree, will last in their functions until the 31 August 2012 unless already have been appointed directors in accordance with this Decree, or are new appointments, according to the provisions of the present reform, in which case will continue serving as long as you do not perform this process.
Article 3.-this Decree shall enter into force eight days after its publication in the official journal.
GIVEN in the blue room of the Legislative Palace: San Salvador, eighteen days after the month of August of the year two thousand twelve.
OTHON SIGFRIDO REYES MORALES, PRESIDENT.
ALBERTO ARMANDO ROMERO RODRÍGUEZ, GUILLERMO ANTONIO GALLEGOS NAVARRETE, SENIOR VICE PRESIDENT. SECOND VICE PRESIDENT.
JOSE FRANCISCO MERINO LÓPEZ, FRANCISCO ROBERTO LORENZANA DURÁN, THIRD VICE PRESIDENT. Fourth Vice President, ROBERTO JOSÉ d'AUBUISSON, fifth Vice President.
LORRAINE GUADALUPE PENA MENDOZA, CARMEN ELENA CALDERÓN SOL STEP, FIRST SECRETARY. SECOND SECRETARY.
SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.
IRMA PALACIOS LOURDES VASQUEZ, MARGARITA ESCOBAR, FIFTH SECRETARY. SIXTH SECRETARIAT.
RODRIGO SAMAYOA RIVAS, REYNALDO ANTONIO LÓPEZ CARDOZA, SEVENTH SECRETARY. EIGHTH SECRETARY.
House presidential: San Salvador, to the twenty-one days of the month of August of the year two thousand twelve.
Publish it, Carlos Mauricio Funes Cartagena, President of the Republic. German Jose Armando Flores, Minister of economy.
D. OR. No. 154 volume no. 396 date: 22 August 2012.
3 index legislative JCH / geg 10-09-2012
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