Regulatory Alerts2014-07-15
Law 13/2014 of 14 July on the Transformation of the Fund for the Financing of Payments to Suppliers
The Spanish State issued Law 13/2014 to extinguish the Fund for the Financing of Payments to Suppliers and create the Fund for the Financing of Payments to Suppliers 2, a non-legal entity managed by the General State Administration. The law transfers the original fund's credit rights to the new entity while the State assumes its financial debt and treasury, ensuring the continuity of the extraordinary financing mechanism for local and autonomous community entities. It also updates public procurement payment deadlines and establishes the regulatory framework for the new fund's management, resources, and eventual liquidation.
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