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Ancap. Capitalization.

Original Language Title: Ancap. Capitalizacion.

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Legislative Power/ Eastern Republic of Uruguay
Published D.O. 12 Jan/016-NAº 29373

Law No. 19,368

NATIONAL FUEL ADMINISTRATION,
ALCOHOL AND PORTLAND (ANCAP)

THE EXECUTIVE BRANCH IS AUTHORIZED TO PROCEED TO ITS CAPITALISATION "N A TRAVA%S OF THE CONDONACIA" N OF THE
DEBT IN FORCE THAT THE AFOREMENTIONED ENTITY MAINTAINS WITH THE MINISTRY OF ECONOMICS AND FINANCE

The Senate and the CA of Representatives of the Eastern Republic of Uruguay, meeting in General Assembly,

DECREE:


ArtAculoA 1Aº. -A Autorazase to the Executive Branch to capitalize until at Ul 5,712:381,810 (five thousand seven hundred twelve million three hundred and eighty-one thousand eight hundred units indexed) to the National Administration of Fuels, Alcohol and PAHrtland (ANCAP), through the condonation of the current debt of the Ente with the Ministry of Economic and Finance, contracted under the Laws NAºA 18.965, 30 August 2012, and NAºA 19,339, dated 26 August 2015.

It is to be found that the property increase established in the first article of this article constitutes gross income for the purposes of the Income Tax of Economic Activities (IRAE). In the event that the fiscal losses of previous financial years are lower than the fiscal net income of the year in which the increase occurs, the excess shall not be considered for tax purposes.

ArtAculoA 2Aº. -A The Executive Branch and ANCAP will proceed to cancel the respective loan contracts and to release the guarantees that have been constituted.

ArtAculoA 3Aº. -A Sustitátós yese the third of the article 565 of the Law No 17296, ofFebruary 2001, for the following:

“The tax per litre referred to in the first case corresponds to values at 31 August 2000. It would be necessary to the Executive Branch to update these values annually until the variation experienced by the Index of Prices to the Consumption from that date.

ArtAculoA 4Aº. -A Derogase the article 1Aº of the Law No 18.221, ofDecember 2007.

ArtAculo 5Aº. -A This law shall enter into force from the date of its promulgation.

A A A A A Sala de Sessions de la CA ¡ mara de Reputivas, en Montevideo, a 3 de enero de 2016.

ALEJANDRO SANCHEZ,
President.
Virginia Ortiz,
Secretariat.

MINISTRY OF INTERIOR
TO MINISTRY OF FOREIGN RELATIONS
TO MINISTRY OF ECONOMY AND FINANCE
TO A MINISTRY OF NATIONAL DEFENSE
A A A MINISTRY OF EDUCATION " N AND CULTURE
A A A A MINISTRY OF TRANSPORT AND
works pasblicas

A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A
A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A A PESCA
A A A A A A A A A A A A A A A A A A A A A A A A A MINISTRY OF HOUSING
, TERRITORIAL AND ENVIRONMENT
A A A A A A A A MINISTRY OF SOCIAL DEVELOPMENT

Montevideo, 4 January 2016.

CA-Mplase, acorsese recibo, comunaquese, publáquese e insáltese en el Registro Nacional de Leias y Decretos, la Ley por la que se autoritamión al Poder Executive a capitalaron la Administrationa Nacional de Fuels, Alcohol y Portland.

TABARA% VAZQUEZ.
JORGE VÁZQUEZ.
RODOLFO NIN NOVOA.
DANILO ASTORI.
ELEUTERIO FERNÁNDEZ HUIDOBRO.
GUILLERMO MONCECCHI.
CRISTINA LUSTEMBERG.
BENJAMAN RELEASED.
JORGE RUCKS.
ANA OLIVERA.

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Montevideo, Uruguay. Legislative Power.