In the context of the reform of the traditional Economic and Fiscal Regime of the Canary Islands, Law 19/1994, of 6 July, creates and regulates the so-called Special Canary Zone, with the purpose, as expressly stated in Article 28 of the The Law, to promote the economic and social development of the archipelago.

This Canary Special Zone is organized around a Consortium, with the nature of public law entity attached to the Ministry of Economy and Finance, one of whose organs of government and administration is constituted by the Governing Council, which is basically regulated in Articles 34 and 37 of the aforementioned Law 19/1994.

For its part, the first transitional provision of the same legal text entrusts an interim body, composed of representatives of the General Administration of the State and the Autonomous Community of the Canary Islands, to draw up a proposal for a Statute of the Rector Council of the Consortium of the Special Area of the Canary Islands, which, prior to the report of the Chambers of Commerce, Industry and Navigation of the Canary Islands, had to be forwarded to the Government of the Nation for processing with urgency.

The representatives of the General Administration of the State in the aforementioned provisional body have been appointed by Ministerial Order of 29 July 1994, and the representatives of the Autonomous Community in the same have The Agreement was signed by the Governing Council of that date of 15 July 1994.

Meeting the provisional body in question, it has carried out the necessary tasks in order to draw up a proposal for a Statute of the Council Rector of the Consortium of the Special Area of the Canary Islands, which, after having been informed by the Official Chambers of Commerce, Industry and Navigation of both Canary provinces, has been referred to the Government of the Nation for processing as a matter of urgency.

Thus, the Statute that approves the present Royal Decree regulates the nature of the Rector Council of the Special Area of the Canary Islands and the regime applicable to its members; it specifies and concretely the powers conferred on it. Governing Council, while determining which of these may be delegated by that in the Chair of the Consortium of the Special Area of the Canary Islands; likewise, it establishes the framework within which the services of the Rector Council are to be organized and establishes the System of operation of this and that applicable to its agreements and resolutions.

Therefore, with the approval of this Statute, the sufficient legal basis is provided from which it is possible to initiate the implementation of the Consortium of the Special Area of the Canary Islands and, with this, special zone.

By virtue of the provisions of the first transitional provision and paragraph 2 of the final provision, both of Law 19/1994 of 6 July 1994 amending the Economic and Fiscal Regime of the Canary Islands, of the Official Chambers of Commerce, Industry and Navigation of the Canary Islands, in agreement with the Council of State, on a proposal from the Minister for Economic Affairs and Finance and after deliberation by the Council of Ministers at its meeting on 23 June 1995,

DISPONGO:

Single item. Approval of the Statute of the Rector Council of the Special Area of the Canary Islands.

The Statute of the Rector Council of the Special Area of the Canary Islands, created as the governing body and administration of the Consortium of that special zone by Law 19/1994, of July 6, of modification of the Economic Regime is approved Prosecutor of the Canary Islands, which is included in the Annex to this Royal Decree.

Single additional disposition. Amendment of the Statute of the Rector Council of the Special Area of the Canary Islands.

Any modification of the Statute of the Rector Council of the Special Area of the Canary Islands will be approved by the Government of the Nation by Royal Decree, jointly proposed by the Ministry of Economy and Finance and the Autonomous Community from the Canary Islands.

Single transient arrangement. Acting as Secretary of the Governing Council.

As long as the Secretary of the Governing Council is not appointed in the terms provided for in Article 4 of this Statute, he or she shall act as such the Minor Counsellor.

Single end disposition. Authorisation to the Minister for Economic Affairs and Finance and entry into force.

1. The Minister for Economic Affairs and Finance is hereby authorised to issue, in agreement with the Autonomous Community of the Canary Islands, how many provisions are necessary in order to implement and develop this Royal Decree.

2. This Royal Decree shall enter into force on the day following that of its publication in the Official Gazette of the State.

Given in Madrid to June 23, 1995.

JOHN CARLOS R.

The Minister of Economy and Finance,

PEDRO SOLBES MIRA

ANNEX

Status of the Rector Council of the Special Area of the Canary Islands

Article 1. Nature of the Governing Board.

The Governing Council of the Special Area of the Canary Islands (ZEC) is set up as one of the governing bodies and administration of the Consortium of the Special Zone, created by Article 28 of Law 19/1994, of July 6, amending the Fiscal Economic Regime of the Canary Islands.

Article 2. Members of the Rector Board.

1. The ZEC Governing Council consists of a President, a Vice President and five Directors.

2. The President of the Governing Council shall be the person holding the Presidency of the ZEC Consortium and appointed by the Government of the Nation, on a joint proposal from the Minister of Economy and Finance and the Government of the Autonomous Community of the Canary Islands, between persons of recognised competence in economic and financial matters. The appointment will be published in the "Official Gazette of the State" and in the "Official Gazette of the Canary Islands".

3. The Vice-President shall be appointed, among persons of recognized competence in economic and financial matters, in the same manner as the President and his appointment shall be published on the same terms as that of the President.

4. The members will be appointed by the Minister for Economic Affairs and Finance and the other two by the Government of the Autonomous Community of the Canary Islands. The appointments will be published in the "Official Gazette of the State" and in the "Official Gazette of the Canary Islands".

Article 3. Duration of the mandate and regime applicable to members of the Governing Council.

1. The term of office of the members of the Governing Board shall be four years, from the date of his appointment, at the end of which the term of office may be renewed for two further periods of four years each.

Where appropriate, the renewal of the mandate of the members of the Governing Council shall be carried out, in the form legally provided for, within the last month of the respective mandate.

Members of the Rector Board will cease in their posts:

(a) For the expiration of the term of the respective mandates, without prejudice to the renewal of these mandates referred to in the preceding paragraph.

b) By expressly accepted by the body that appointed them.

(c) For a serious breach of its obligations, which must be expressly stated by the body which appointed them, subject to the instruction of the appropriate file in which the person concerned will be heard.

d) For permanent incapacity for the exercise of its function, which shall be declared in the terms indicated in paragraph (c) above.

e) By incompatibility of the agreement as set out in paragraph 2 below of this article, declared by the body which appointed them, after instruction of the appropriate file in which the hearing will be given to the interested.

(f) For conviction for criminal offence, declaring in such a case the cessation by the body which appointed them, subject to the instruction of the appropriate file in which the person concerned will be heard.

The cessation of the President, the Vice President and the Directors, for any of the reasons outlined, should be published in the "Official Gazette of the State" and in the "Official Gazette of the Canary Islands".

In the cases of termination of a member of the Governing Council before the expiry of his term of office, the person who replaces him shall exercise his term of office for the period of time remaining from that of the remaining member, without prejudice to the of the renewal, if any, for two further periods in the terms provided for in this paragraph.

2. The members of the Board of the ZEC Consortium will be subject to the same incompatibilities as that provided for the high offices of the public administrations by the legislation in force at every moment.

3. During the two years following their cessation, counted from the date of the cessation, the members of the Rector Council will not be able to exercise any private professional activity related to the Special Area of the Canary Islands.

4. The remuneration of the members of the Board of Directors of the ZEC will be fixed by the Minister of Economy and Finance, prior to the report of the Minister of Economy and Finance of the Canary Islands.

Article 4. The Secretary of the Governing Council.

1. The Governing Council shall have a Secretary designated by him among the persons of management level who provide services in the Consortium of the Special Area of the Canary Islands.

2. The appointment and termination of the Secretary shall be freely produced by agreement of the Governing Council.

3. The Registrar, with a voice but without a vote, shall have the duties assigned to him by the Governing Council and, in general, those provided for in Article 25.3 of Law No 30/1992 of 26 November 1992, of the Legal Regime of Public Administrations and of the Procedure Common Administrative.

4. In the case of vacancy, absence or illness, the Registrar of the Governing Council shall be replaced by the person appointed by the Governing Council.

Article 5. Powers of the President of the Governing Council.

1. It is for the President of the Governing Council:

a) Ostend the representation of the Council.

(b) To exercise the other functions conferred on the President of the collegiate bodies by Article 23 of Law No 30/1992 of 26 November 1992 on the Legal Regime of Public Administrations and the Common Administrative Procedure.

c) Exercise how many competencies are delegated to you by the Rector Board.

d) Exercise how many other competencies specifically attribute the current legislation to you.

In the decision-making and resolutions of the Governing Council, the President's vote will be settled.

2. The Vice-President of the Governing Council shall replace the President in the case of vacancy, absence or disease and shall also exercise the functions delegated to him by the Governing Council.

Article 6. Powers of the Governing Council.

1. Corresponds to the Rector Board:

(a) To process and resolve applications for authorisation from entities seeking to benefit from the special regime of the Special Area of the Canary Islands.

b) Manage the Official Administrative Registry of ZEC entities.

c) Manage enrollment and stay rates in the Official Registry of ZEC entities.

d) To monitor the compliance of the ZEC entities with the provisions of Law 19/1994 of 6 July, which may require all information to be accurate, without prejudice to the provisions of the Law in respect of the powers conferred on other public bodies or bodies.

e) Initiate and resolve the sanctioning files which are dealt with in accordance with the rules contained in Chapter VI, Title V, of the aforementioned Law 19/1994, corresponding to the instruction of those files to the President of the Governing Council.

f) Provide the information required by the competent authorities or bodies, in accordance with the provisions of Law 19/1994 and its implementing rules.

g) Dictate the instructions on the operation of the Special Area of the Canary Islands in those aspects in which it has attributed the jurisdiction.

h) Develop a preliminary draft budget annually, with the structure of the Ministry of Economy and Finance.

i) Issue how many prescriptive reports are of your competence, as well as any other reports requested in relation to the matters of such competence.

j) Decide on the use of the annual remaining of the ZEC Consortium, without prejudice to the provisions of Article 38.4 of Law 19/1994, of 6 July.

k) Approve the tax concerts with the local Canary Islands entities referred to in Article 48 of Law 19/1994 of 6 July.

(l) Require the consideration of the consideration referred to in Article 51 of Law 19/1994, of 6 July, of Amendment of the Economic and Fiscal Regime of the Canary Islands.

m) Manage the wealth and economic and tax resources of the ZEC Consortium provided for in Article 38 of Law 19/1994 of 6 July.

n) Request the application to the credit institutions operating in the ZEC of the intervention and replacement measures provided for in Title III of Law 26/1988, of July 29, of Discipline and Intervention of the Entities of Credit.

n) Require insurance entities operating in the ZEC for non-systematic communication of policy models, technical bases, and premium rates for operations subject to the special ZEC regime.

or) The competencies that in relation to the Stock Exchange, the Rector Society of the Stock Exchange and the companies and agencies of exchange and securities are attributed to the Consortium of the ZEC in Section 3 of Chapter IV of Title V of the Law 19/1994, July 6.

p) The competencies that in relation to the Official Secondary Markets are attributed to the Consortium of the ZEC in Section 4. of Chapter IV of Title V of Law 19/1994, of July 6.

q) Approve and raise the proposals it deems necessary in accordance with the provisions of Article 36.4 of Law 19/1994, of 6 July, of Amendment of the Economic and Fiscal Regime of the Canary Islands.

r) Inform any amendments you deem necessary to this Statute.

s) Any other function or competence that is directly attributed to it by the legislation in force.

2. All functions not specifically attributed to the President of that body shall be the responsibility of the Governing Council.

3. The Governing Council may delegate to the President or the Vice-Chair of the Board:

(a) The powers referred to in paragraphs (b), (c), (d), (f) and (n) of paragraph 1 of this Article.

(b) The processing of applications for the authorisation of entities seeking to benefit from the Canary Special Zone regime.

(c) The administrative, management and procurement powers provided for in paragraph 1 (m) of this Article, within the limits set by the Governing Council.

Article 7. Services of the Governing Council.

1. The Governing Council shall promote, facilitate and organise the services of the Consortium for the proper functioning of the ZEC and the achievement of its purpose, all in accordance with criteria of effectiveness and according to the budgetary resources available to it. each time.

2. Corresponds to the Rector Board:

a) Structure the services of the Consortium.

b) Give the services of the Consortium the necessary material resources and infrastructures.

c) Set the job catalog and assignment of corresponding levels and functions.

d) Contreating the management staff to the Consortium service.

e) Select non-management personnel through appropriate public calls, through systems based on the principles of merit and capacity.

3. The Governing Council shall draw up the rules of internal staff arrangements for the ZEC Consortium.

Article 8. System of operation of the Governing Council.

As not provided for in this Statute, the rules of operation of the Governing Council, as a collegiate body, shall be adopted by the Governing Council in accordance with the principles and criteria laid down in Chapter II of Title II. of Law No 30/1992 of 26 November 1992 on the Legal Regime of Public Administrations and the Common Administrative Procedure, the provisions of which shall in any event be of an additional application.

Article 9. Agreements and resolutions of the Governing Council.

1. The acts and resolutions that the Rector Council of the Special Area of the Canary Islands has in the exercise of its public functions have the nature of administrative acts and exhaust the administrative route, except in tax matters that will be in economic and administrative terms before the Regional Economic and Administrative Tribunal of the Canary Islands, without prejudice in both cases of subsequent access to the Jurisdiction-Administrative Jurisdiction.

2. The agreements and resolutions of the Governing Council on the matters referred to in paragraphs (a), (g), (j), (k) of Article 6.1 and Article 8 of this Statute and those relating to the delegation of powers to the President or Vice-President, shall be approved in any case by at least five of the voting members of the Governing Council.