LAW ONE HUNDRED AND NINETY-SIX/SIXTY-THREE, OF 28 DECEMBER, ON ASSOCIATIONS AND ASSOCIATIONS OF UNDERTAKINGS, LAYS DOWN IN ITS SECOND ARTICLE THE PURPOSES WHICH COMPANIES OF UNDERTAKINGS MUST HAVE AS THEIR OBJECTIVE IN ORDER TO ENABLE THEM TO THE PRECEPTS OF THE SAME SHALL BE APPLICABLE.

IT IS OF PARTICULAR INTEREST TO THE NATIONAL ECONOMY TO ASSOCIATIONS OF UNDERTAKINGS WHICH AIM TO CARRY OUT AND USE FACILITIES FOR THE MANUFACTURE OF INTERMEDIATE PRODUCTS NECESSARY FOR THE DEVELOPMENT OF ACTIVITIES INDUSTRY OF ITS MEMBERS, WHEN THE ECONOMY OF SCALE OR THE TECHNOLOGICAL CHARACTERISTICS OF SUCH FACILITIES DEMAND STRONG INVESTMENTS FOR ITS REALIZATION.

THROUGH THE ASSOCIATIONS OF COMPANIES PURSUING THE INDICATED PURPOSE, COMPETITIVE PRODUCTION UNITS CAN BE OBTAINED AND THE PREVENTION OF SMALL UNITS, DIFFICULT TO BE VIABLE, INTEGRATED IN THE FACILITIES OF EACH COMPANY.

IN ITS VIRTUE, IN ACCORDANCE WITH THE PROVISIONS OF ARTICLE 2 (E) OF LAW ONE HUNDRED AND NINETY-SIX HUNDRED AND SEVENTY-THREE, OF TWENTY-EIGHT DECEMBER, ON THE PROPOSAL OF THE MINISTERS OF FINANCE AND INDUSTRY AFTER DELIBERATION BY THE COUNCIL OF MINISTERS AT ITS MEETING OF THE FIFTEENTH DAY OF APRIL, ONE THOUSAND NINE HUNDRED AND SEVENTY-SEVEN, I HAVE:

ARTICLE FIRST. COMPANIES OF COMPANIES WILL BE CONSIDERED FOR THE PURPOSES OF LAW ONE HUNDRED AND NINETY-SIX/SIXTY-THREE OF THE TWENTY-EIGHT OF DECEMBER, THE ANONYMOUS COMPANIES WHICH, TOGETHER WITH THE CONDITIONS AND REQUIREMENTS SET OUT THEREIN, WILL TRANSFORM THE RAW MATERIALS OR SEMI-FINISHED PRODUCTS, SUPPLIED BY MEMBER COMPANIES, IN OTHER PRODUCTS INTENDED FOR FURTHER PROCESSING IN SPAIN OR ABROAD IN THE INDUSTRIAL PROCESSES OF SUCH PRODUCTS, PROVIDED THAT THE ECONOMY OF SCALE OR OF THE TECHNOLOGICAL CHARACTERISTICS OF THE TRANSFORMATIVE ACTIVITY TO BE DEVELOPED BY THE SOCIETY OF COMPANIES DEMAND FACILITIES THAT DEMAND SIGNIFICANT INVESTMENTS.

ARTICLE SECOND. HOWEVER, IF THE PRODUCTS RECEIVED IN THE COMPANY COMPANY ARE TRANSMITTED OR DELIVERED TO THIRD PARTIES BY THE MEMBER COMPANIES, THESE TRANSACTIONS SHALL BE TAXED BY THE GENERAL TAX ON THE TRAFFIC OF THE UNDERTAKINGS AS IF THE PRODUCTS SOLD, TRANSMITTED OR DELIVERED HAD BEEN TRANSFORMED BY THE UNDERTAKING CARRYING OUT THE TAXED OPERATION.

ARTICLE THIRD. THIS ROYAL DECREE SHALL ENTER INTO FORCE ON THE DAY FOLLOWING ITS PUBLICATION IN THE "OFFICIAL STATE BULLETIN".

GIVEN IN MADRID, ON APRIL 15, THOUSAND NINE HUNDRED AND SEVENTY-SEVEN. -JUAN CARLOS.-THE MINISTER OF THE PRESIDENCY OF THE GOVERNMENT, ALFONSO OSORIO GARCÍA.