Ancap. Payment Debt Petroleos Venezuela S.a. Loan Authorization.

Original Language Title: Ancap. Pago Deuda Petroleos Venezuela S.a. Prestamo Autorizacion.

Read the untranslated law here:

CONTRACT OF LOAN WITH THE NATIONAL ADMINISTRATION OF FUELS, ALCOHOL AND PORTLAND AUTHORIZATION TO POWER EXECUTIVE TO THE EFFECTS OF THE CANCELLATION OF THE DEBT OF THE ENTITY WITH PETROLEOS DE VENEZUELA S.A. The Senate and the Chamber of representatives of the Republic East of the Uruguay, gathered at General Assembly, Decree: article 1.-authorize the Executive Branch to conclude a loan agreement with the national administration of fuels, Alcohol, and Portland, in terms, terms and conditions deemed more appropriate, for an amount of up to the equivalent of US $ 267:000. 000, 00 (two hundred sixty-seven million dollars from the United States of America) , for the purposes of early cancellation of the debt of the entity with Petróleos de Venezuela S.A. (PEDEVESA), for purchases of crude oil and derivatives. Article 2.-this loan must be guaranteed with a guarantee trust, a garment on flows of box or any warranty otherwise at the discretion of the Executive power secure the prompt payment by the entity of the capital borrowed and its interests. Hall of sessions of the Senate, in Montevideo, August 18, 2015. LUCÍA TOPOLANSKY, President.
José Pedro Montero, Secretary. Ministry of economy and Finance Ministry of industry, energy and mining Ministry of livestock, agriculture and fishing Montevideo, August 26, 2015. Met, acknowledge receipt, communicate, publish, and inserted into the national registry of laws and decrees, the law authorizes the Executive to conclude a loan agreement with the national Cobustibles, Alcohol and Portland administration, for the purposes of the early termination of the doubt of the entity with Petróleos de Venezuela S.A. TABARÉ VÁZQUEZ.