Ley 209 de 1995 | Ley 209 de 1995 — Colombia law | Esheria

Ley 209 de 1995

This provision is the preamble to Law 209 of 1995, stating that the law creates and regulates the operation of the Petroleum Savings and Stabilization Fund.

Jurisdiction
Colombia
Instrument
Act or statute
Citation
Ley 209 de 1995
Version
Undated source snapshot
Language
es
Updated
Official source
View official record ↗
account rules accounting administración de fondos comisiones committee composition contratación currency denomination debt prepayment financial statements fiscal stabilization fondos públicos fund accounting fund management fund transfers fund valuation gas exclusion governance investment governance investment management oil and gas oil fields oil production oil sector payment calculations +12 more

Statute overview

About this statute

This provision is the preamble to Law 209 of 1995, stating that the law creates and regulates the operation of the Petroleum Savings and Stabilization Fund. Creates the Petroleum Savings and Stabilization Fund and says certain transfers into it are temporary and for fiscal savings and macroeconomic stabilization. This article defines a “production unit” for the law as an oil production field or group of fields, presumes one field per unit, lets the National Government group fields in some cases, and bars adding new fields to the Cusiana-Cupiagua unit. El Banco de la República debe administrar el Fondo de Ahorro y Estabilización Petrolera mediante un contrato con los ministerios indicados; ese contrato requiere firmas específicas y publicación en el Diario Oficial para ser válido y perfeccionado. This article defines key terms for applying the law, including income, basic income, additional income, and average additional income.

LexChat organizes source-backed legal information for research. Verify amendments, commencement, and current legal force with the official publisher before relying on it.