Ley 2056 de 2020 | Ley 2056 de 2020 — Colombia law | Esheria

Ley 2056 de 2020

This provision is the opening of Law 2056 of 2020, which states that it regulates the organization and functioning of Colombia’s General Royalties System.

Jurisdiction
Colombia
Instrument
Act or statute
Citation
Ley 2056 de 2020
Version
Undated source snapshot
Language
es
Updated
Official source
View official record ↗
administrative coordination agricultural development allocation asignación de recursos autoridades administrativas budget budget allocation budget management cartografía geológica clasificación presupuestal comercialización compensation compensation distribution compliance monitoring contract publication control de contratos cumplimiento de requisitos data review debt financing destinación específica development planning education programs employment promotion energy +88 more

Statute overview

About this statute

This provision is the opening of Law 2056 of 2020, which states that it regulates the organization and functioning of Colombia’s General Royalties System. This article says the law’s purpose is to define how revenue from non-renewable natural resource exploitation is distributed, administered, controlled, and used, and to set beneficiary participation conditions. The article states the objectives and purposes of the General Royalties System, including equity, regional development, public participation, and environmental restoration. It also says companies that explore or exploit non-renewable natural resources must carry out conservation and environmental recovery actions in the territories where they operate. This article identifies the bodies of the General Royalties System and says they exercise their powers and duties under the law and under guidelines issued by the Rector Commission. La Comisión Rectora del Sistema General de Regalías define la política general, evalúa su ejecución y puede dictar regulaciones y lineamientos administrativos para asegurar el funcionamiento del sistema.

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