Public Debt General Law

Original Language Title: Ley General de Deuda Pública

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General Law on Public Debt

PUBLIC DEAD GENERAL ACT

Official Journal of the Federation December 31, 1976

Last Reform Published DOF August 11, 2014

On the sidelines a seal with the National Shield, which reads: United Mexican States.-Presidency of the Republic.

JOSÉ LÓPEZ PORTILLO, Constitutional President of the United Mexican States, to its inhabitants, known:

What the H. Congress of the Union, it has been served to address the following

DECREE:

" The Congress of the United Mexican States, decrees:

PUBLIC DEAD GENERAL ACT

CHAPTER I

General Provisions

ARTICLE 1o.- For the purposes of this law, the public debt is constituted by the liabilities of liabilities, direct or contingent arising from financing and in charge of the following entities:

I.- The Federal Executive and its dependencies.

II.- The Federal District Government;

III.- The decentralized agencies.

IV.- The majority state participation companies.

V.- Development banking institutions, national credit auxiliary organizations, national insurance institutions and insurance institutions;

VI.- The trusts in which the trustee is the Federal Government or any of the entities mentioned in fractions II to V and VII of this Article, and

VII.- The productive enterprises of the State and its subsidiary productive enterprises.

ARTICLE 2o.- For the purposes of this law, financing is understood to be the financing of contracts within or outside the country, of loans, loans or loans derived from:

I.- The subscription or issuance of credit titles or any other document payable in time.

II.- The acquisition of goods, as well as the contration of works or services whose payment is agreed upon in instalments.

III.- The contingent liabilities related to the acts mentioned and,

IV.- The celebration of legal acts analogous to the previous ones.

ARTICLE 3o.- The Secretariat of Finance and Public Credit, in accordance with the provisions of Article 31 of the Organic Law of the Federal Public Administration, is the Dependence on the Federal Executive in charge of the application of this law, as well as to interpret it administratively and to issue the necessary provisions for its due compliance.

The holders of public entities will be responsible for the strict compliance with the provisions of this Law, their regulations and the procurement guidelines identified by the Secretary of Finance and Public Credit. Violations of this Law and the orders cited shall be sanctioned in the terms that are legally applicable and in accordance with the responsibility regime of the federal public servants.

CHAPTER II

From the Faculties of the Secretariat of Finance and Public Credit

ARTICLE 4.- Corresponds to the Federal Executive, through the Secretariat of Finance and Public Credit:

I.- Issue securities and contract loans for productive public investment purposes, for the exchange or refinancing of Federal Erarium obligations or for regulatory purposes monetary.

The currencies, the maturity of the amortizations, the interest rate of the issue of securities or the concertation of borrowings, as well as the other conditions, will be determined by the the Secretariat itself in accordance with the prevailing situation in the money and capital markets.

II.- Develop the public sector's financial program based on which the public debt will be handled, including the forecast of foreign currency required for debt management. external.

III.- Authorize parastatals to manage and contract external financing, setting the requirements they will need to observe in every eventuality;

IV.- To care that the resources from the financing of the public debt are destined to the realization of projects, activities and companies that support the plans economic and social development, which generate income for their payment or are used for the improvement of the structure of public debt.

V.- Contreating and managing the Federal Government's public debt and granting the Federal Government's guarantee for the conduct of credit operations to be held with agencies of which Mexico is a member or with public or private entities or foreign countries, provided that the appropriations are intended to carry out investment projects or productive activities that are in accordance with the with the economic and social development policies approved by the Executive and which generate sufficient resources for the payment of the credit and have adequate guarantees.

VI.- To monitor that the payment capacity of entities that engage in financing is sufficient to cover the commitments that they contract.   To this end, it will have to monitor the development of approved financing programmes on a permanent basis, as well as the adequate financial structure of the accredited entities.

VII.- To monitor the timely payment of capital and interest payments on credit contracted by institutions.

ARTICLE 5o.- The Secretariat of Finance and Public Credit will also have the following powers:

I.- Condeal directly with the Federal Government's funding under the terms of this law.

II.- Submit to the authorization of the President of the Republic the issuance of Federal Government bonds that are placed in and out of the country, which may consist of one or more several series that will be put into circulation at the time the Federal Executive authorizes it, through the Secretariat. These issues shall constitute general direct and unconditional obligations of the United Mexican States, in accordance with the terms set out in the minutes of issue or in the respective contractual documents. Its other characteristics shall be indicated by the Secretariat itself when it subscribe to the issuing minutes or the contractual documents referred to.

Titles that document emissions that are placed abroad, acquired by non-resident foreigners in the country, will not cause any tax. The Secretariat of Finance may extend this treatment to the financial agents of the Federal Government, when they make emissions on behalf of the government itself.

III.- Take administrative measures relating to the payment of principal, interest settlement, commissions, financial expenses, requirements and formalities of the minutes (a) the issuance of the respective contractual securities and documents arising from the agreed borrowings, as well as the replenishment of securities documenting obligations in national and foreign currency and for listing on the stock exchanges foreign and national securities. It may also agree with the accreditors in the formation of amortisation funds for the payment of the securities that are redeemed.

IV.- Authorize parastatals for the procurement of external financing;

V.- Take the federal public sector debt record.

ARTICLE 6o.- Federal public sector entities will require prior authorization from the Secretariat of Finance and Public Credit to conduct official negotiations, Informal or exploratory talks on the possibility of going to the external market for money and capital.

To obtain this authorization, you must provide the Secretariat with its annual and medium-and long-term financial programs, as well as other information requested to you, at last. to determine your credit needs.

For the procurement of internal financing, as regards the entities referred to in Article 1o, fractions III to VI. of this Law, the authorization of their respective governing bodies will suffice. In such cases, the Director-General of the entity concerned or equivalent shall inform the Secretariat of Finance and the Public Credit thereof.

ARTICLE 7o.- The management that the entities of resources coming from financing contracted in the terms of this Law, will be supervised by the Secretary of Finance and Public Credit will be able to coordinate with the Secretariat of State to which the respective sector corresponds.

ARTICLE 8.- The financing that the Secretariat of Finance and Public Credit contracts or authorizes must be included in the financial program elaborated in the terms Chapter III of this Law and the General Program of Debt.

CHAPTER III

From Public Debt Programming

ARTICLE 9o.- The Congress of the Union shall authorize the amounts of the internal and external net borrowing that is necessary for the financing of the Federal Government and federal public sector entities included in the Revenue Act and the Federation's Government Budget, as well as the Federal District. The Federal Executive shall inform the Congress of the Union of the State of the Debt, at the time the annual public account is held and when the revenue project is submitted, it shall also report on a quarterly basis on the movements thereof, within forty-five days. following the expiration of the respective quarter. Movements concerning the purposes of monetary regulation shall not be computed within such amounts.

ARTICLE 10.- The Federal Executive, when submitting to the Congress of the Union the initiatives corresponding to the Law of Revenue and the Budget of the Federation's expenditures, will have to propose the amounts of the net borrowing required, both internal and external, for the financing of the Federal Budget for the corresponding fiscal year, providing sufficient evidence to substantiate its proposal. The Congress of the Union when approving the Law of Revenue, may authorize the Federal Executive to exercise or authorize additional amounts of financing when, in the judgment of the Executive itself, extraordinary economic circumstances are presented. so require. When the Federal Executive makes use of this authorization, it will immediately inform the Congress.

The Federal Executive will make the proposals that correspond to the income bill initiatives and the Federal District's government budget. funding relating to the provisions of this Act, as appropriate.

ARTICLE 11.- To determine the financial needs referred to in the previous article, the Secretariat of Finance and Public Credit must know through the Secretariat of State, in charge of the coordination of the sector concerned, the projects and programmes of activities duly approved by the Secretariat, which require funding for its implementation.

ARTICLE 12.- The amounts of indebtedness approved by the Congress of the Union will be the basis for the hiring of the necessary credits for the financing of the Federal and Federal District budgets. The net borrowing of the entities included in these budgets will invariably be matched with the calendarisation and other forecasts agreed at regular intervals with the relevant expenditure and financing agencies.

ARTICLE 13.- The Secretariat of Finance and Public Credit, in accordance with the powers granted to it in Chapter II of this Law, will authorize, where appropriate, the financing of the promote entities, in the public sector; when these are from abroad or are concerned in foreign currency, the opinion of the Advisory Committee on External Financing will be taken into account.

ARTICLE 14.- Entities must clearly indicate the resources that will be used for the payment of the financing they promote.

ARTICLE 15.-In case will any financing be authorized to generate obligations that exceed, in the opinion of the Secretariat of Finance and Public Credit, the capacity to pay public sector entities that promote them.

ARTICLE 16.- The amount of items that institutions must allocate annually to meet commitments arising from the financing of financing will be reviewed by the Secretary of Finance and Public Credit, in order to be included in the Federation's Government Budget.   

CHAPTER IV

From Contracting Federal Government Financing

ARTICLE 17.- The Federal Executive and its agencies will only be able to contract financing through the Secretariat of Finance and Public Credit.

The entities mentioned in fractions III to VI of Article 1o. of this Law, will only be able to contract external financing with the prior authorization of the Secretariat of Finance and Public Credit. As regards internal financing, it will be sufficient for the approval of its governing bodies, in accordance with the terms of Article 6. of this order.

ARTICLE 18.- The projects in charge of the Federal Government agencies that require financing for their implementation must produce sufficient resources for their amortisation and the obligations to be assumed, for the purpose of such financing, shall not be higher than the payment capacity of the public sector entities that promote them.

The ability to pay Federal Government dependencies will be established based on your budget availability for subsequent exercises.

Dealing with obligations arising from financing of long-term productive infrastructure projects, relating to priority activities and through which entities purchase goods or services in any form, the source of which is the sufficient flow of resources that the same project generates, and in which the Secretariat of Finance and Public Credit are approved with prior approval in the terms of the Article 30 of the Law on Federal Budget, Accounting and Public Expenditure, only, for the purposes of this Law, as a direct liability, the amounts of financing to be paid during the current financial year and the following year shall be considered as a contingent liability until the following year. total payment of the same.

CHAPTER V

From Hiring Financing For Federal Government Distinct Entities

ARTICLE 19.- The entities mentioned in fractions III to VI of Article 1o. of this Law, which are not included within the budgets of the Federation and Federal District, will only require prior and express authorization from the Secretariat of Finance and Public Credit for the hiring of financial external.

The authorization may only include those financing included in the debt program, except for those that are obtained for the purpose of monetary regulation.

The institutions that provide the public banking and credit service, in the case of financing originated in the exercise of that service, require only the authorization referred to in this Article and the 17, where such financing results from the following concerted operations with credit institutions and financial institutions in the country or abroad:

I.- Term direct credits greater than one year;

II.- Indicated Credits;

III.- Emissions of serial or mass titles, placed and payable among the investing public; and

IV.- Operations originating from contingent liabilities and bank acceptances, in accordance with the general provisions issued by the Secretariat of Finance and Public Credit.

ARTICLE 20.- For the purposes of the preceding article, institutions shall formulate for the authorization of the external credits, the request corresponding to the Secretariat of Hacienda y Crédito Público, accompanying the information that it determines.

You must also submit to that Secretariat, monthly and in the manner required, its financial statements, data on its liabilities and the additional information it may provide to you. requested to determine its ability to pay and the duly reasoned need for the type of expenditure to be financed from the resources of the credit; the use of the availabilities of each credit line and its write-downs. The Secretariat of Finance and Public Credit may supplement this information by examining records and documents of the same entities.

ARTICLE 21.- The Secretariat of Finance and Public Credit will refrain from authorizing financing in favor of the entities referred to in this chapter, when the activities, supported in whole or in part by such funding, are not included in the approved plans and budgets.

The financing must be in accordance with the payment capacity of the entities, which shall be estimated in accordance with the criteria that it establishes in general or in particular the aforementioned Secretariat.

ARTICLE 22.- The Secretariat of Finance and Public Credit shall communicate its decision to the requesting entities in writing, specifying, where appropriate, the characteristics and conditions in which the credits can be arranged.

If the credit obtained will be formalized with a bond issue or a contract, both in the issuance act, and in the contract, as well as in the bonds and documents that are The basic data of the said authorisation should be given. The same provision shall be observed in other securities which, in respect of the individual, are subscribed, endorsed or accepted by the institutions. The reference documents shall not be valid if the particulars of the authorisation granted by the Secretariat of Finance and Public Credit are not included in them.

In securities or other documents in which the public institutions are required to carry out internal credit obligations, they must be expressed as to be negotiable only with national credit companies.

CHAPTER VI

From Borrowing Operations Monitoring

ARTICLE 23.- The accredited entities, whether from the Federal Government or from the parastatal sector, will keep records of the financing in which they participate according to the rules The Secretariat of Finance and Public Credit. They shall also provide the Secretariat itself with all the information necessary to carry out the monitoring of the application of the resources resulting from authorized financing, with the periodicity and in the form that The Secretariat shall determine.

ARTICLE 24.- The Secretariat of Finance and Public Credit will monitor the inclusion in the budgets of the public sector entities of the amounts necessary to satisfy In particular, the commitments arising from the procurement of financing under the terms of Articles 2o. and 17 of this Law.

ARTICLE 25.- Public sector entities will provide all kinds of facilities to the staff of the Secretariat of Finance and Public Credit, which, if necessary, will check the proper procurement, application and handling of the debt.  

ARTICLE 26.- Without prejudice to the provisions of this Chapter, the Secretaries of State responsible for the coordination of the sectors in the performance of their duties, they shall monitor the use of the resources from authorised financing to the entities in their sector.

CHAPTER VII

From The Financial Obligations Record

ARTICLE 27.- The Secretariat of Finance and Public Credit will maintain the record of the financial obligations constituting public debt to be assumed by the entities, in which will record the amount, characteristics, and destination of resources captured in their particular and global form.

The Secretariat of Finance and Public Credit will publish periodically the data on the public debt, including all those that are significant for its best understanding.

ARTICLE 28.- The owners of the entities are obliged to report to the Secretariat of Finance and Public Credit the data of all the financing contracted as well as the movements in which they are carried out.

ARTICLE 29.- Authorized credit operations, as well as their registration, may only be modified with the same requirements and formalities relating to their authorization.

CHAPTER VIII

From the External Financing Advisory Commission

ARTICLE 30.- The Advisory Commission for External Financing of the Public Sector is hereby established as the auxiliary technical body for consulting the Secretariat of Finance in the field of credit external, which will be integrated with a representative and alternate representative of:

a).- The Secretariat of Finance and Public Credit, which will chair it.

b).- The Bank of Mexico, S. A.; Nacional Financiera, S. A.; Banco Nacional de Obras y Servicios Públicas, S. A.; Banco Nacional de Crédito Rural, S. A.; Banco Nacional de Comercio Exterior, S. A.; Sociedad Mexicana de Crédito Industrial, S. A.; Financial National Sugar, S. A.; and public sector entities that the Secretariat of Finance and Public Credit deems appropriate.

ARTICLE 31.- The work of the Commission will be coordinated by a Technical Secretariat, which will be in charge of the Director General of Credit of the Secretariat of Finance and Credit Public.

ARTICLE 32.- The Commission will have the following functions:

I.- Assess federal public sector financing needs.

II.- To advise on the design of the policy to be adopted in foreign or foreign currency, for the federal public sector, having a view on annual plans in which the strategy for the collection of external resources is specified, the amounts to be obtained from these resources and the source and application thereof, in coordination with the measures that the Federal Executive will dictate in financial matters, for achieve the objectives of national economic policy.

III.- Propose the coordination measures of the federal public sector entities in all that relates to the collection of external resources for the same, considering guidelines for negotiations on the general terms and conditions of the external credits to be contracted.

IV.- Studying external financing programs for federal public sector entities with opportunity and ranking criteria.

V.- Know and review studies that address the federal public sector's external debt and recommend policies to keep it within the federal public sector's ability to pay sector and country.

VI.- The Commission will advise the Secretariat of Finance and Public Credit on the amount of external financing that public sector entities contract annually.

VII.- In general, all those who allow the Secretariat of Finance and Public Credit to be duly informed in the management of the external debt of public sector entities and those that point to this law and other ordinances.

For the programming of the financing the Secretariat of Finance and Public Credit will be able to take into account the opinion of the Commission.

TRANSIENT

ARTICLE FIRST.- This law will take effect from January 1, 1977.

ARTICLE SECOND.- Article 26 of the Organic Law of National Financial, S. A. concerning the Special Committee on Foreign Financing and the other legal provisions that are contrary to this Law shall be opened.

Mexico, D.F., at December 29, 1976.- Enrique Ramírez y Ramírez, D. P.- Hilda Anderson de Rojas, S. P.- Crescencio Herrera Herrera, D. S.- Mario Carballo Pazos, S. S.-Rubicas ".

In compliance with the provisions of Article 89 (I) of the Political Constitution of the United Mexican States and for their proper publication and observance, I hereby issue this Decree at the residence of the Government of Mexico. Federal Executive, in Mexico City, Federal District, at the thirty days of December of a thousand nine hundred and seventy-six.- José López Portillo.-Heading.-The Secretary of Finance and Public Credit, Julio Rodolfo Moctezuma Cid.-Heading.-The Secretary of Government, Jesus Reyes Heroles.-Heading.


DECREE by which various provisions of the Federal Law on Hacendaria Budget and Accountability and the General Law on Public Debt are reformed, added and repealed.

Published in the Official Journal of the Federation on 11 August 2014

ARTICLE THIRD. Article 1o., fractions V and VI is reformed; and Article 1o. is added, with a fraction VII to the General Law of Public Debt, to be as follows:

.........

TRANSIENT

First. This Decree shall enter into force on the day following that of its publication in the Official Journal of the Federation.

Second. The Federal Executive, through the Secretariat of Finance and Public Credit, will foresee what is necessary for the drafting of the Law The Federation's Revenue and the Draft Budget of the Federation for the Fiscal Year 2015, reflect the reforms to the Federal Law on the Budget and the Hacendaria Liability that are indicated in the second article, fraction I, of this Decree.

Third. The Federal Government may assume a proportion of the obligation to pay pensions and pensions in the course of payment, as well as those corresponding to the active workers of Mexican Petroleum and its subsidiary bodies recognized as the entry into force of this Decree and registered in its financial statements, in accordance with the contractual provisions in force on that date, provided that, within the year following the entry into force of this Decree, Petroleos Mexicanos reaches an agreement to modify the collective labor contract In the case of the company and subsidiary organizations, modify the Working Regulations of the Trust Personnel of Mexican Petroleum and Subsidiary Organizations, and implement an Austerity Program in Spending. These amendments, without considering the recognition of the obligation to pay pensions and pensions referred to by the Federal Government, should entail in the medium term a reduction in the payment obligations of pensions and pensions. Company retirements. In addition, the amendments must include at least that the pensions or retirements of the new income workers be financed under schemes of individual accounts that permit the portability of rights with the Savings System for the Retreat and that a gradual adjustment to the parameters to determine the pensions of the active workers, including the retirement age to reflect the change in life expectancy, in order to adjust it to the parameters currently established in the other pension and pension systems of the institutions of the Federal Government.

The proportion of the payment obligation that the Federal Government assumes in its case will be in an amount equivalent to the reduction of the employment liability recognized in accordance with the referred to in the preceding paragraph, resulting from the agreement to amend the collective labour contract and the Working Regulation referred to in the preceding paragraph.

The Federal Executive, through the Secretariat of Finance and Public Credit, taking into consideration the stability of public finances and the fulfillment of the objectives, strategies and lines of action of the National Development Financing Program, will establish the terms, conditions and amounts to cover the proportion of the labor liabilities assumed by the Federal Government, once the conditions laid down in the first paragraph of this Article. It will also determine the financing mechanisms and payment schemes and will issue the other general provisions necessary for their implementation.

With effect from the above, the Federal Executive is authorized, through the Secretariat of Finance and Public Credit, to hold the appropriate dates. (a) to finance the proportion of the obligations previously referred to by the Federal Government, and to issue general provisions for regulating such acts. The Federal Executive is also authorized through the Secretariat of Finance and Public Credit to make the corresponding adjustments in the Federation's Government Budget. the same amount of the obligations. The above acts and adjustments shall not be considered for the purpose of the target of the public sector financial requirements and of the budgetary balance referred to in Article 17 of the Federal Law on Budget and Liability I'd make.

As a prerequisite for the Federal Government to be able to assume, in the terms of this Article, the proportion of the pension payment obligation; and The Federal Audit Office will carry out a specific audit of the employment liabilities of Petroleos Mexicanos and its subsidiaries in order to identify the characteristics of the companies. obligations for the payment of pensions and pensions referred to, and the determinants of the evolution of the same. The audit shall be completed no later than 12 months after the entry into force of this Decree. The Higher Audit of the Federation, in terms of the Law of Taxation and Accountability of the Federation, will proceed to the finalization of the responsibilities that correspond, in case that derived from the audit practiced (a) illegal activities related to the pension and pension payment obligations mentioned above, including, if appropriate, the initiation of proceedings in respect of criminal liability.

Fourth. The Federal Government may assume a proportion of the obligation to pay the Federal Electricity Commission for pensions and pensions which are recognised and registered in its financial statements corresponding to its financial statements. workers who were hired until August 18, 2008, when the company signed an agreement with the union to adopt the scheme of individual accounts for the workers of the new income, according to the stipulations contractual arrangements in force on this last date, provided that, within the year following the entry into This Decree, the Federal Electricity Commission reaches an agreement to modify the collective contract of work and the Manual of Work of the Public Servants of Command of the Federal Commission of Electricity, applicable in the company, and implement an Austerity Program in Spending. This amendment, without considering the recognition of the obligation to pay pensions and pensions referred to by the Federal Government, should entail in the medium term a reduction in the obligations for the payment of pensions and In the case of the pension scheme, the pension scheme will be used for the purposes of the pension scheme for the benefit of the pension scheme for the benefit of the pension scheme. Retirement; to establish the necessary mechanisms for workers to be active contracted until August 18, 2008, voluntarily adhere to such individual account schemes, and a gradual adjustment to the parameters for determining the pensions of active workers, including for the retirement age, in order to reflect the change in life expectancy, with the aim of adjusting it to the parameters currently established in the other pension and pension systems of the Federal Government institutions.

The proportion of the payment obligation that is assumed by the Federal Government in accordance with the preceding paragraph shall be equal to the reduction of the the employment liability resulting from the agreement to amend the collective labour contract and the Manual referred to in the preceding paragraph.

The Federal Executive, through the Secretariat of Finance and Public Credit, taking into consideration the stability of public finances and the fulfillment of the objectives, strategies and lines of action of the National Development Financing Program, will establish the terms, conditions and amounts to cover the proportion of the labor liabilities assumed by the Federal Government once the conditions laid down in the first paragraph of this Article. It will also determine the financing mechanisms and payment schemes and will issue the other general provisions necessary for their implementation.

With effect from the above, the Federal Executive is authorized, through the Secretariat of Finance and Public Credit, to hold the appropriate dates. (a) to finance the proportion of the obligations previously referred to by the Federal Government, and to issue general provisions for regulating such acts. The Federal Executive is also authorized through the Secretariat of Finance and Public Credit to make the corresponding adjustments in the Federation's Government Budget. the same amount of the obligations. The above acts and adjustments shall not be considered for the purpose of the target of the public sector financial requirements and of the budgetary balance referred to in Article 17 of the Federal Law on Budget and Liability I'd make.

As a prerequisite for the Federal Government to be able to assume, in the terms of this Article, the proportion of the pension payment obligation; and The Federal Audit Office will carry out a specific audit in respect of the employment liabilities of the Federal Electricity Commission in order to identify the characteristics of the obligations. (i) the payment of pensions and pensions referred to, and the the evolution of the same. The audit shall be completed no later than 12 months after the entry into force of this Decree. The Higher Audit of the Federation, in terms of the Law of Taxation and Accountability of the Federation, will proceed to the finalization of the responsibilities that correspond, in case that derived from the audit practiced (a) illegal activities related to the pension and pension payment obligations mentioned above, including, if appropriate, the initiation of proceedings in respect of criminal liability.

Fifth. The reforms and derogations to the Federal Budget and Accountability Act and the General Law on Public Debt related to companies production of the State and its subsidiary production companies, as referred to in this Decree, shall enter into force in respect of Mexican Petroleum and its subsidiary bodies and the Federal Electricity Commission, on the date on which, pursuant to each of its laws, be in compliance with the provisions of the second paragraph of the The twentieth transitional period of the Decree by which various provisions of the Political Constitution of the United Mexican States are reformed and added in the matter of Energy, published in the Official Journal of the Federation on 20 December 2013.

Sixth. Without prejudice to the revenue obtained by each Coordinated Regulatory Body in Energy Matters by way of the contributions and availments available to it for the services it provides, in order to achieve a timely and effective implementation of its powers, during the period 2015 to 2018, the Chamber of Deputies will carry out the budgetary forecasts that guarantee that both the National Hydrocarbons Commission and the Energy Regulatory Commission will have the Budget resources as set out in the following table:

YEAR

NATIONAL HYDROCARBON COMMISSION BUDGET

ENERGY REGULATORY COMMISSION BUDGET

2015

350 million pesos

400 million pesos

2016

320 million pesos

370 million pesos

2017

290 million pesos

340 million pesos

2018

240 million pesos

280 million pesos

The General Office of the Energy Secretariat will be responsible for the legal, accounting, functional, structural and budgetary separation, as well as the transfer, human, financial and material resources, including the goods that are necessary to enable the Coordinated Regulatory Bodies in Energy Matters to comply with their powers. For the above, you must have the authorities of the corresponding instances within the scope of your competence.

Mexico, D.F., at 6 August 2014.-Dip. José González Morfin, President.-Sen. Raul Cervantes Andrade, President.-Dip. Javier Orozco Gómez, Secretary.-Sen. Rosa Adriana Díaz Lizama, Secretary.-Rubicas."

In compliance with the provisions of Section 89 of the Political Constitution of the United Mexican States, and for their due publication and observance, I request this Decree at the Federal Executive Branch, in Mexico City, Federal District, at 11 August of two thousand fourteen.- Enrique Peña Nieto.-Heading.-The Secretary of the Interior, Miguel Angel Osorio Chong.- Heading.