Regulatory Alerts2011-08-09 | Resolución 097/2011Added · Updated
Resolution 097/2011
The Board of Directors of the Central Bank of Bolivia amends Article 8 of the Regulation for the Granting of Credit to Strategic National Public Enterprises for the 2010 and 2011 fiscal years. The modification requires that credit contracts approved by the Board be executed before the Notary of the Governor's Office, while the Central Bank of Bolivia remains responsible for protocolization procedures and the enterprises bear the associated costs. This amendment enters into force on the date of approval of the resolution.
BOARD RESOLUTION NO. 097/2011
SUBJECT: MONETARY OPERATIONS MANAGEMENT – APPROVES MODIFICATIONS TO THE REGULATION FOR THE GRANTING OF CREDIT TO STRATEGIC NATIONAL PUBLIC ENTERPRISES WITHIN THE FRAMEWORK OF THE GENERAL STATE BUDGET – MANAGEMENT PERIODS 2010 AND 2011, APPROVED BY BOARD RESOLUTION NO. 023/2011.
HAVING SEEN:
Law No. 1670, of October 31, 1995, of the Central Bank of Bolivia (BCB).
The Statute of the BCB, approved by Board Resolution No. 128/2005, of October 21, 2005, and its subsequent modifications.
Board Resolution No. 023/2011 of February 22, 2011, which approves the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – Management Periods 2011 and 2011.
Resolutions No. 026/2011 of March 2, 2011, No. 027/2011 of March 18, 2011, and No. 030/2011 of March 22, 2011, which approve modifications to the Regulation for the Granting of Credit to Strategic National Public Enterprises.
CONSIDERING:
That by Board Resolution No. 023/2011, of February 22, 2011, the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget – Management Periods 2010 and 2011 was approved.
That Board Resolutions 026/2011, 027/2011, and 030/2011 approve modifications to articles 2, 3, 4, and 10 of the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget Management Periods 2010 and 2011.
That article 11, numeral 29 of the Statute of the BCB, concordant with article 54, clause o) of Law No. 1670, establishes that the Board has the authority to approve, modify, and interpret the Statute and regulations by two-thirds of the votes of its members, without the need for any additional administrative act.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
//2. B.D. No. 097/2011
Article 1.- Modify article 8 of the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget Management Periods 2010 and 2011 as follows:
SAYS:
Article 8.- (Contract) The conditions of the credit approved by the Board of Directors of the BCB shall be recorded in the contract to be signed in a public document. The protocolization procedures of the Contract shall be carried out by the BCB and the expenses required for these procedures shall be covered by the SPNE.
SHOULD SAY:
“Article 8.- (Contract) The conditions of the credit approved by the Board of Directors of the BCB shall be recorded in the contract to be signed in a public document before the Notary of the Governor's Office. The protocolization procedures of the Contract shall be carried out by the BCB and the expenses required for these procedures shall be covered by the SPNE.”
Article 2.- The modification to the Regulation for the Granting of Credit to Strategic National Public Enterprises within the framework of the General State Budget Management Periods 2010 and 2011 shall enter into force from the date of approval of this Resolution.
Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.
La Paz, August 9, 2011
Marcelo Zabalaga Estrada
//3. B.D. No. 097/2011
Rolando Marín Ibáñez Hugo Dorado Araníbar
Gustavo Blacutt Alcalá Rafael Boyán Téllez
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