Key Benefits:
LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR
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DECREE NO 605.-
THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,
CONSIDERING:
I.-That by Legislative Decree No. 53, dated July 24, 1997, published in Official Journal No. 143, Volume No. 336 of 7 August of the same year
the Law of Privatization of the National Administration of Telecommunications.
II.-Article 45 of it, provides that a special law regulate the
organization, structure and functioning of the public body responsible for complying with the purposes that it regulates.
III.-That, in accordance with the above recitals, the patrimony obtained by the sale The assets of the National Telecommunications Administration (ANTEL), must be maintained in time, so that it is
used by several generations of Salvadorans.
IV.-That it is convenient that the funds obtained by the sale of ANTEL, be placed in investment concept, by means of transparent mechanisms that
ensure the greatest security and profitability of these, so that their returns can be used in the attention of the population's needs.
V.-That in consideration of the above recitals, it is necessary to create a fund special to manage the use of resources from the sale of the assets of ANTEL.
BY TANTO,
in use of its Constitutional powers and on the initiative of the President of the Republic, through the Ministers of Finance and Economy.
DECRETA the following:
LAW OF THE SPECIAL FUND OF RESOURCES FROM
ANTEL PRIVATIZATION
CHAPTER I
OF THE OBJECT AND ADMINISTRATION OF THE FUND
Art. 1.-Create the Special Fund of Resources from the Privatization of ANTEL, with
legal personality and own patrimony, which henceforth will be called "the Fund", whose domicile will be that of the City of San Salvador.
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Art. 2. The purpose of the Fund is to finance the implementation of programs and investment projects in the field of economic and social development, as well as the minimum expenses required for their
administration and capital increases. correspond to the shares of the State in the company Company of Telecommunication of El Salvador, S.A. de C.V. (CTE.S.A. de C.V.), according to the provisions of Art. 44 of the Law on Privatization of the National Telecommunications Administration.
The areas of projects to be financed by the Fund are those that will be discussed below.
Art. 3.-The Fund's Administration will be in charge of a Board of Directors, hereinafter referred to as "the Council", which will be integrated as follows:
a) The Minister of Finance;
b) The Minister of Economy;
c) President of the Central Reserve Bank of El Salvador, BCR;
d) A Member appointed by the Economic Commission, or Economic Committee of the Executive Body; and,
e) A Member appointed by the Social Committee or the Social Committee of the Authority Executive.
The Council Coordinator will be appointed by the President of the Republic. It shall also have the legal representation of the Fund, in which character it may intervene in the acts and contracts which
Fund holds
as well as in the other judicial or administrative proceedings in which the Fund has an interest, may delegate its powers to the express authorisation of the Council and grant powers in the name of the Fund.Art. 4.-The members of the Council shall be replaced as follows: by the respective Deputy Minister of State; by the first Vice-President of the Central Bank of El Salvador; and by
the alternates appointed by the Economic Commission o Economic Committee of the Executive Body and the Social Committee or Social Committee of the Executive Body. Replacements shall operate in case of absence, excuse or temporary impediment, with the same rights and powers. In the event of absence, excuse or impediment
of the Coordinator, the Board will elect the member to serve as the Coordinator for the corresponding session.
Art. 5. The Council shall, at least twice a year, be held at least twice a year; a greater number of sessions may be held, whenever necessary, upon convocation by the Coordinator on his own initiative, or at the request of two or more members of the Council, Such a call must be made at least with
two days in advance of the date on which those are to be held. To hold sessions, three members of the Council will be required to attend, at least.
The resolutions will be taken by a majority of votes and will be settled in Actas, authorized by the attendees. In case of a tie, the Coordinator will have a quality vote.
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Art. 6.-The Council shall carry out all the functions and duties assigned to it by the Fund's administrator, providing the relevant administrative structure of the Fund,
for which the expenditure shall be strictly necessary to assist in the fulfillment of your object.
Art. 7. Any act, resolution and omission of the members of the Council, which contravene the provisions of this Law and its Rules of Procedure, shall make it necessary for all members who have contributed with their vote to take the resolution, in liability. personnel and solidarity for the damages that
would have caused.
Members who are not in agreement with the resolution taken, will record their vote
dissident in the Minutes of the Session in which the subject.
Also, incur liability for damages caused, members of the Council
which will disclose any confidential information on the matters dealt with or which will take advantage of such information for personal purposes or to the detriment of the State, the Fund or third parties.
Without prejudice to the criminal liability to which it occurs.
Art. 8.-The Council shall appoint ADVISORY COMMITTEES for each of the areas of the Fund, which
shall be specified below. These Advisory Committees, hereinafter referred to as "the Committees", shall be composed of a minimum of five persons from the relevant official sector and civil society related to the subject.
The Committees shall support the Council with criteria, opinions, data and information to define the policies of the Fund and the orientation of the resources; for this purpose, the Council will convene
meetings with the periodicity that it deems appropriate.
The Committees will also carry out the selection of the program executing entities in each
one of the Fund, through a process of public bidding that will be developed in the respective regulations. Such an invitation to tender may be omitted when in the country there is only one specialized entity in the area concerned.
The members of the Board of Directors and the Advisory Committees shall carry out their duties with an ad-honoreal character and not will have operating budget.
Art. 9. The selected implementing entity shall enter into a contract with the Fund, and shall inform the relevant Advisory Committee at the time the contract determines, on compliance
of the physical and financial execution of the projects or programs in your office.
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CHAPTER II
OF THE FUND OF THE FUND
Art. 10.-The Fund's Heritage will be constituted as follows:
a) With the product from the sale of the assets of the National Telecommunications Administration, ANTEL and its yields, until the validity of this Decree;
b) With the profits generated by the shares owned by the State in the Company of Telecommunications of El Salvador, S.A. de C.V. (CTE., S.A. de C.V.); or with the product
of the sale of the same;
c) With the resources generated by the operations of the projects to be created and called
Community Centers for Information; and,
d) For all income obtain any legal title.
CHAPTER III
OF THE AREAS TO BE FUNDED BY THE FUND
Art. 11.-The project areas to be financed by the Fund are as follows:
a) COMMUNAL INFORMATION CENTER:
This area aims to develop a massive self-sustainable access tool
to new tools of communication, information, business, training, knowledge development and facilities in the use of private and state services. This instrument involves the development of a national network of
information systems through the construction, establishment and management of Community Information Centers throughout the country;
b) PROMOTION OF EMPLOYMENT THROUGH THE FOREIGN INVESTMENT, EXPORTS AND TOURISM:
This area aims to promote the creation of greater employment opportunities in the country, through the increase of foreign investment that complements national investment in the country. country; diversification and increase of exports and development
of operations
In this sense, the resources will support activities to promote the country abroad,
performing actions focused on attracting investments in priority sectors that will boost our development. In the same way, they will support in this area, actions that promote the penetration of our exports to new markets, such as commercial missions, international events and others directly related.
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c) SCHOOL FOOD:
This area aims to raise attendance rates to school, decrease school repetition and dropout, and increase the levels of academic achievement of children from families residing in vulnerable areas of the country through the
endowment of a daily food diet to contribute to improving the nutrition and health conditions of the beneficiaries.
d) ARTISANAL DEVELOPMENT AND SUPPORT FOR MICRO AND SMALL BUSINESSES: (5)
THIS AREA AIMS TO CONTRIBUTE TO IMPROVING LIVING CONDITIONS
OF SALVADORAN ARTISANS AND THEIR FAMILIES, PRESERVING THE CULTURAL HERITAGE OF THE COUNTRY EMBODIED IN THE PROCESSES AND CUSTOMS IMPLICIT IN THE ARTISANAL ACTIVITY, THROUGH THE CONSOLIDATION OF EFFECTIVE SYSTEMS
OF SUPPORT THAT LEAD TO THE IMPROVEMENT OF THE PRODUCTIVITY AND COMPETITIVENESS OF THE PRODUCTION OF THE ARTISANS SALVADORANS, AS WELL AS THE EXPANSION OF LOCAL AND INTERNATIONAL MARKETS FOR THAT
PRODUCTION.
ALSO, THAT AREA WILL AIM TO CONTRIBUTE TO THE DEVELOPMENT OF THE PRODUCTIVE AND COMPETITIVE CAPACITIES OF MICRO AND SMALL BUSINESS
(MYPE), INCLUDING ENTERPRISES AND MYPE FOCUSED ON CULTURAL ECONOMIC DEVELOPMENT, IN ORDER TO PROMOTE THEIR ARTICULATION IN THE DYNAMICS OF THE TERRITORIAL AND NATIONAL ECONOMY. (5)
E) COMMUNAL DEVELOPMENT AND VIOLENCE PREVENTION: (5)
THE FUNDS ALLOCATED TO THIS AREA SEEK TO PROVIDE THE MOST DEPRIVED COMMUNITIES IN THE COUNTRY WITH BASIC INFRASTRUCTURE, EITHER SOCIAL OR PRODUCTIVE, IN ORDER TO IMPACT POSITIVELY IN IMPROVING YOUR
QUALITY OF LIFE.
ALSO, THE FUNDS CAN BE ALLOCATED FOR THE IMPLEMENTATION OF PROGRAMS
AND ACTIONS IN THE FRAMEWORK OF PUBLIC POLICIES TO PREVENT VIOLENCE. (5)
f) SCHOLARSHIPS FOR HIGHER EDUCATION:
This area aims to strengthen the specialized training of the human resource
needed to meet the requirements of development, rewarding and enhancing efforts and academic excellence of the Salvadorans, through the total or partial funding of pre-grade and post-graduate studies (master's and doctoral degrees), whether in the
country or abroad.
g) PRODUCTIVE DEVELOPMENT AND FOREST PROTECTION: (3)
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This area aims to contribute to the country's reforestation, supporting projects
fund will also be able to finance projects in the area of promotion of agricultural development, such as the delivery of improved seed
FERTILIZERS TO AGRICULTURAL PRODUCERS, AMONG OTHERS. (3)
h) ARTISTIC AND CULTURAL ENTREPRENEURSHIP: (5)
THIS AREA AIMS AT THE DEVELOPMENT OF ACTIVITIES AIMED AT PROMOTING, PROMOTING, DEVELOPING, DISSEMINATING AND VALUING PROJECTS
ARTISTIC AND CULTURAL. (5)
Art. 12.-From the first net yields produced from the resources of the Fund, it will be invested
for once the equivalent in colones to ten million dollars of the United States of America, for the area called Community Centers of Information.
For project development in the other areas, only the net yields that produce the Fund resources will be allocated, in the ratio below for each of the areas:
a) PROMOTION OF EMPLOYMENT THROUGH FOREIGN INVESTMENT, EXPORTS AND TOURISM 10.0% (5)
b) School Feeding 20.0%
c) COMMUNAL DEVELOPMENT AND VIOLENCE PREVENTION 25.0% (5)
d) Higher Eduction Grants 20.0%
e) DEVELOPMENT AND FOREST PROTECTION 14.25%
(5)
f) ARTISANAL DEVELOPMENT AND SUPPORT FOR THE MICRO AND SMALL BUSINESS 10.0%
(5)
g) ARTISTIC AND CULTURAL ENTREPRENEURSHIP 0.75%
(5)
The allocation and transfer of resources will be under the responsibility of the Board of the Fund.
Art. 12-A.-OF THE CAPITAL OF THE FUND WILL BE ALLOCATED UP TO THE EQUIVALENT OF ONE HUNDRED AND EIGHTY MILLION DOLLARS OF THE UNITED STATES OF AMERICA (US$ 180,000,000.00), FOR THE FINANCING OF THE EXTRAORDINARY BUDGET OF PUBLIC INVESTMENT. (1) (2)
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Art. 12-B.-THE COUNCIL OF ADMINISTRATION OF THE FUND, WILL CARRY OUT THE TRANSFERS OF THE RESOURCES MENTIONED ABOVE TO THE EXTRAORDINARY BUDGET THAT TO THE EFFECT
VOTE, IN THE AMOUNTS THAT THE EXECUTION OF THE PROJECTS DEMANDE AND TO REQUIREMENT OF THE MINISTRY OF FINANCE. (1)
Art. 12-C.-TO ENSURE THE SUSTAINABILITY OF THE PROJECTS AND PROGRAMS TO BE EXECUTED IN THE AREAS ESTABLISHED IN ART. 11 OF THE LAW OF THE SPECIAL FUND OF THE RESOURCES COMING FROM THE PRIVATIZATION OF ANTEL, THE EXECUTIVE ORGAN IN THE FIELD
HACIENDA WILL ENSURE TO ALLOCATE ANNUALLY IN THE GENERAL BUDGET THE RESOURCES NECESSARY TO SUPPLEMENT THE ANNUAL RETURNS THAT THE AVERAGE HAS GENERATED. (1)
Art. 12-D.-THE CAPITAL OF THE FUND WILL BE ALLOCATED THIRTY MILLION DOLLARS FROM THE UNITED STATES OF AMERICA (US $30,000,000.00) THAT WILL BE PART OF THE RESOURCES OF THE
FUND OF ECONOMIC DEVELOPMENT REGULATED IN THE LAW OF THE FINANCIAL SYSTEM FOR DEVELOPMENT PROMOTION. (4)
Art. 12-E.-THE BOARD OF DIRECTORS OF THE FUND SHALL CARRY OUT THE TRANSFER OF THE RESOURCES REFERRED TO ABOVE, AT THE REQUEST OF THE DEVELOPMENT BANK OF EL SALVADOR AND TO THE ACCOUNT THAT IS DESIGNATED FOR THAT PURPOSE. (4)
Art. 13.-The General Directorate of Treasury will open in the Central Bank of El Salvador, a special account in dollars for the deposit and handling of the product of privatization. The BCR in its capacity as State Financial Agent and prior to the authorization of the Council, will invest these resources under
the same guidelines used in the administration of international reserves and in financial instruments in dollars, issued by the Government of the Republic.
Art. 14.-The transfers of funds to the executing units of each area, shall be carried out directly by the General Directorate of Treasury, with the special account referred to in the previous article and with authorization issued by the Council of the Fund.
CHAPTER IV
GENERAL PROVISIONS
Art. 15.-The Fund shall enjoy exemption from all taxes, duties and other taxes
tax contributions or municipal taxes, established or established.
Art. 16.-The Fund's relationship with the other State entities will be carried out through the
Ministry of Economy.
Art. 17.-Without prejudice to the audit of the Court of Auditors of the Republic, the Fund will contract
annually the services of a specialized firm to carry out the comprehensive audit of its actions.
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Transitory
Art. 18.-The income of the resources of the privatization of ANTEL and the income earned in the concept of dividends by the actions held by the State, generated at the date of entry into force of this Law, will be allocated for the execution immediate projects in each of the areas
of development referred to in the percentages outlined in Art. 12.
Art. 19.-By its special character, this Law shall prevail over any other than the contrarian.
Art. 20.-This Decree shall enter into force eight days after its publication in the Official Journal.
GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, six days of the month of May of one thousand nine hundred and ninety-nine.
DUCH MARTINEZ PRESIDENT
GERSON MARTÍNEZ CIRO CRUZ ZEPEDA PEÑA FIRST VICE-PRESIDENT, SECOND VICE PRESIDENT
RONAL UMANA NORMA FIDELIA GUEVARA DE RAMÍRIOS THIRD VICE-PRESIDENT FOURTH VICE-PRESIDENT
JULIO ANTONIO GAMERO QUINTANILLA JOSÉ RAFAEL MACHUCA ZELAYA FIRST SECRETARY SECOND SECRETARY
ALFONSO ARISTIDES ALVARENGA GERARDO ANTONIO SUVILLAGA THIRD SECRETARY FOURTH SECRETARY
ELVIA VIOLETA MENJÍVAR JORGE ALBERTO VILLACORTA MUNOZ FIFTH SECRETARY SIXTH SECRETARY
CASA PRESIDENTIAL: San Salvador, 12 days of the month of May a thousand nine hundred and ninety-nine.
PUBESCOSE,
ARMANDO CALDERÓN SOL, President of the Republic.
Manuel Enrique Hinds Cabrera, Minister of Finance.
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D. O. N ° 90
Took N ° 343 Date: May 18, 1999.
REFORMS:
(1) D. L. No. 202, NOVEMBER 30, 2000; D. O. NO. 238, T. 349, DECEMBER 19, 2000.
(2) D. L. No. 560, SEPTEMBER 27, 2001;
D. O. No. 204, T. 353, OCTOBER 29, 2001.
(3) D. L. No. 646, 12 JUNE 2008;
D. O. No. 122, T. 380, JULY 1, 2008.
(4) D. L. No. 848, SEPTEMBER 22, 2011; D. O. NO. 197, T. 393, OCTOBER 21, 2011.
(5) D. L. No. 24, JUNE 18, 2015; D. O. No. 123, T. 408, JULY 8, 2015.
RELATED DISPOSITION:
SPECIAL PROVISIONS TO TRANSFER FUNDS FROM THE ANTEL PRIVATIZATION TO THE MINISTRY OF FINANCE. D. L. No. 1218, APRIL 11, 2003;
D. O. No. 83, T. 359, MAY 9, 2003.
JQ 21/09/15
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