LAW NO. 20,309 TRANSFORMS HOUSE OF CHILEAN CURRENCY INTO A PUBLIC LIMITED COMPANY Having present that the National Congress has given its approval to the following Bill: " TITLE I OF THE AUTHORIZATION TO DEVELOP ECONOMIC ACTIVITY |! | Article 1 °.- Authorize the State to |! |develop business activities of character |! |industrial and commercial in graphic materials, or |! |those that do their times, and metallurgical, in |! |conformity and with strict subjection to article 3 ° of |! |this law, to through an anonymous company that |! |will constitute the Fisco and the Corporation for the Promotion of |! |the Production, who must keep |! permanently the property of the shares |! |representative of their social capital. Article 2 °.-According to the authorization established in the previous article, the Fisco, represented by the Treasurer General of the Republic, and the Corporation for the Promotion of Production in accordance with its organic law, shall constitute, within the Six months from the date of publication of this law, an anonymous company named Casa de Moneda de Chile S.A., which will be governed by the rules of the public limited companies, being subject to the supervision of the Superintendence of Securities and Insurance. Without prejudice to the foregoing paragraph, the company Casa de Moneda de Chile S.A., in matters relating to State enterprises, shall only be applicable to the rules laid down in Articles 11 of Law No 18.196 and 44 of the Decree Law No 1.263, 1975. Article 3.-The purpose of this company shall be to carry out for its own or other account: (1) the manufacture of coins and the manufacture of coins. 2) The manufacture of plates, the manufacture of banknotes and the creation and, or elaboration of other elements for the transfer of funds and, or means of payment. 3) Printing, creation and, or elaboration of, valued species and documents or elements of public faith or requiring special security. 4) The manufacture of patent plates for vehicles or for the control of other taxes. 5) The position of timbres in public and private documents taxed with taxes. 6) Gold and silver refining for activities directly related to this article. 7. The manufacture, development, distribution and marketing of elements that constitute instruments of public faith and the respective certifications. 8) The provision of services, the development of projects, the carrying out of consultancies and consultancy and the carrying out of all those activities deriving from the specialty which grants the company the development of the tasks and activities referred to in the this article. 9. The sale, import and export of all types of goods and services directly related to the activities referred to above; the supply, distribution and marketing of those goods. 10. Other related, complementary and ancillary services that are strictly related to the social object contained in this article. The activities included in the social object shall not be construed as exclusive rights of the company authorized to create by this law. Casa de Moneda de Chile S.A. will be able to celebrate all kinds of acts and contracts related to the social object. Article 4.-In the constitution of the public limited company, a participation of 1% of the social capital and the Corporation for the Promotion of Production will be responsible for the participation of 99%. The shareholders shall maintain in a permanent manner the ownership of the shares representative of the social participation referred to in the preceding paragraph. If capital increases are proposed, they may only vote in favour of such a proposal if they have the necessary resources to subscribe to the amounts required to ensure that these percentages are maintained. The actions referred to shall be non-embargable. Article 5 °.-The initial capital of the company created by this law will be an amount equal to the sum of the book value, as of December 31, 2007, of the tax assets that are destined for or in use by the public service of Chile's Casa de Moneda governed by the decree with force of law No. 228, 1960, of the Ministry of Finance, according to what determines the balance sheet to that date. The determination of the book value of such goods shall be made by supreme decree issued by the Ministry of Finance, which shall be issued within 30 days of the entry into force of this law. The equity of the company shall be constituted by the initial capital and by the assets and liabilities, rights, income and profits, whatever its nature, which it receives or holds at any rate, and by the obligations legally incurred by the company. Chile's Casa de Moneda public service in use of its spin. The company's final assets will be paid by the Corporation for the Promotion of Production by 99%, and by Chile's Fisco by 99%. Within 120 days of the formation of the company, the company must take stock in accordance with the rules dictated by the Superintendence of Securities and Insurance for the open public limited companies, in order to determine the differences existing to that date between the rights, obligations and patrimony, in relation to those assigned by the supreme decree referred to in the previous incissos. Such accounting differences or adjustments that may arise shall be adjusted in accordance with the rules governing the open-ended public limited liability companies, and shall be construed as having full rights, from the date of approval of the said balance sheet, to the "Company" legal continuator of the Public Service of Chile, by means of a supreme decree issued through the Ministry of Finance, within 30 days from the approval of the balance sheet indicated in the previous paragraph. Authorize the Treasurer General of the Republic to subscribe to the shares in the name of the Fisco. Article 6.-The anonymous company ordered to constitute by this law will be the legal continuator of the public service of the Casa de Moneda de Chile, to count from the date on which it begins its legal existence. Article 7 °.-Registration, subinscriptions and annotations existing in name or in relation to the Public Service of Chile, with respect to buildings, vehicles, trademarks and other goods subject to registration, shall be deemed to be in force for all intents and purposes and full rights, in the name of the public limited liability company which is authorised to constitute, by the respective conservators or in charge of such records, to carry out the new entries, subinscriptions and annotations in the name of Casa de Moneda de Chile S.A., with the sole request with respect to the General Manager of this society. Article 8 °.-All acts, contracts, publications, inscriptions and sub-inscriptions that aim to carry out the transfer of assets and liabilities of goods of any nature, from the public service Chile's Casa de Moneda to the limited liability company that happens to you, will be exempt from all taxes or duties. Article 9-Facultate the Minister of Finance so that, in representation of the Fisco and jointly with the Executive Vice President of the Corporation for the Promotion of Production, he concurs to the approval of the social statutes, of their modifications subsequent and subscribe to the relevant documents. The aforementioned statutes and their modifications must strictly conform to the norms contained in this law, contemplating the application of the System of High Public Management in the appointment of the members of its Board and of the highest executive positions, ensuring a high level of technical suitability of the same. It will be up to the board, to confer general powers to the general manager and special to other executives or lawyers of the company and, for specific and determined cases, to third parties. These powers may revoke or limit them at any time without any expression of cause. TITLE II OF THE STAFF OF THE CHILEAN CURRENCY HOUSE Article 10.-The staff of Casa de Moneda de |! | Chile, whatever the legal quality and the regime |! |labor to which this affection, will continue to perform, |! |without solution of continuity, in the public limited company to |! |that this law is referred to and will be governed by the rules of |! |the labor and social legislation applicable to the |! |workers of the private sector, without prejudice to the |! |provided in the following article. Likewise, they will be incorporated into the new |! |society the people they are providing |! |services to Mint hired on the basis |! |fees, continuously, at least during |! |the two years prior to the date of publication of this |! |law. The employment contracts that are to be held |! |between the new company and the workers, must |! |consist in writing within 60 days of |! |the constitution of the company. The total assets and |! |other economic benefits that are recorded, no |! |may be lower, in their final monthly amount, to the |! |that they perceive the workers of the Mint of |! | Chile in the month before the creation of the |! |company, Regarding the |! |variable consideration, the average of the |! |last three months. Article 11.-The personnel in current service may be kept in the pension system to which they are assigned, without prejudice to their right to opt for the regime established in Decree Law No. 3,500 of 1980. Article 12-Workers who, pursuant to Article 13 of Law No 18,834, have been affected by the eviction scheme, may make it effective only when they are definitively withdrawn from employment in the company. To this end, they will be considered as a time served only the one that would have been This is the first time for the new company to be incorporated. When it is imposed, it shall be paid in accordance with the legislation applicable to that date, expressed in units of promotion, as remuneration. On the first day of the month following their incorporation into the public limited liability company, the person concerned will be obliged to contribute to the fund, even if he chooses to maintain his pension system. Article 13.-The staff referred to in the first paragraph of Article 10 shall be entitled to the compensation which corresponds to them at the end of the employment relationship, in accordance with the Labour Code and, for that purpose, shall be deemed to be years of service provided at Casa de Moneda de Chile. However, the transitional Article 7 of the Code shall not apply to them. Notwithstanding the foregoing, the provisions of Article 7 of the Labor Code, the staff referred to in this article, whose employment relationship with Casa de Moneda de Chile was governed by the Code, shall apply without a solution to the continuity, from before 14 August 1981 to date. Article 14.-To the persons referred to in the second indent of Article 10, it shall be computed only for the purposes of the compensation for years of service, in addition to the period worked in the new company, the years served at Casa de Moneda de Chile contracted on the basis of fees and which have been carried out in that quality on a continuous and uninterrupted basis for at least 24 months prior to the date of the formation of the company, accounting for 30 days of compensation for each year of service, in the event that the company puts an end to the employment relationship application of any of the grounds of Article 161 of the Labour Code, not to the effect of Article 7 of the Code. The provisions of this Article shall in no case be considered as the antecedent of a dependent working relationship with that Service. Article 15.-Workers of the Company who, on the occasion of the change of employment status, have reduced the duration of the holiday which they have recognised in accordance with Article 103 of Law No 18,834, shall be entitled to such a reduction be rewarded in proportion to the remuneration agreed upon with the remuneration. Article 16.-During the 60 days, counted since the publication of this law, the Director of the Mint of Chile or the General Manager of the new company, as appropriate, may arrange for the transfer of officials who carry out career positions in the capacity of holders, to a transitional plant which shall be constituted under the Secretariat of Finance with such staff. Past officials will maintain their statutory, pension, remuneration, seniority, plant and grade of the Single Pay Scale. An additional template, which shall be readadjusted in the same proportion and opportunity as the remuneration of the public sector, shall supplement that remuneration at the event that the total assets are less than the last remuneration which, on a permanent basis, the holder at Casa de Moneda collected the average of the variable remuneration of the 3 months prior to the transfer. The additional amount shall be taxable in the same proportion as the remuneration it compensates. The personnel who meet the conditions set out in the first paragraph of this article may apply, within the period specified therein, to be incorporated in the aforementioned transitional plant. The Director of the Mint or the General Manager of the new company will settle these postulates. The officials who are integrated into this plant will not be considered in the maximum number of staff established for this Secretariat of State and the positions they serve, will be abolished in full due to any cause. The number of persons transferred to the transitional plant may not exceed 30% of the total of charges provided with officials as holders of the date of publication of this law. Article 17.-The President of the Republic shall be empowered to, within a period of 6 months from the date of the transfer of the staff of the Casa de Moneda de Chile to the temporary plant attached to the Secretariat of Finance, by one or more Decrees with force of law, issued through the Ministry of Finance, transfer, by appointment or typecasting and without solution of continuity, to the staff of the referred plant transient to any organ or service of those referred to in the Article 24 of Law No 18,575, in order to carry out the duties of the office he holds and in employment of the same hierarchy. Such appointments or appointments may not mean lower income, for which any difference shall be paid by an additional flat of similar characteristics as provided for in Article 15. Transfers involving change of the habitual residence, outside the Metropolitan Region of Santiago, will require the acceptance of the official, which must be recorded in writing. In the exercise of this faculty, the President of the Republic may modify, in the services to which he transfers officials, the plants and staff, creating the necessary charges and establishing, if relevant, his or her requirements specific. The President of the Republic, preferably, will transfer personnel to the vacant posts of the plants of officials of the services to which it is incorporated. The transfers that are available will not be considered as a cause of service termination, nor the removal of charges, the cessation of duties or the termination of the employment relationship. People who are transferred will keep the number of biennies they have recognized, as well as the time for a new one. Article 18.-Personnel who have received compensation for separation of their employment, pursuant to Articles 13, 14 and 1 of the transitional period, may not be rehired, or even on the basis of fees, during the five years. years following the end of their employment relationship, unless they have previously returned the received compensation, expressed in promotion units, plus the current interest for readjustable transactions. However, reincorporation of persons who have received compensation may be carried out in cases qualified by the General Manager based on the specialisation achieved by the worker, without these situations exceeding 5% of the beneficiaries. The application of this law shall be incompatible with the provisions of Article 154 of Law No 18,834. TRANSITIONAL PROVISIONS Article 1 transitory.-Grant for the only time, |! |a bonus to retirement to workers and officials of |! | Mint of Chile, according to what is |! |set below: I. The workers who to the date of |! |constitution of the company, would have performed in |! |quality of plant or contracts according to the rules of the |! | Administrative Statute or those workers |! |contracted under the rules of the Code of the I work in |! |the Chilean Mint service, and stop in the |! |charge or terminate your contract of work by resignation |! |volunteer and you could not access the bonus by withdrawal |! |established in law No. 20,212, by application of the |! |disposed in the Article 6th |! end point (s) not complying with the required |! |age requirement In the No. 1 of the article 7 |! |transient of the mentioned legal body, they will receive a |! |bonus for term of the employment relationship equivalent to |! |one month of remuneration per year of service, with a |! |maximum of 11 months maximum, calculated on the average |! |of the last twelve remunerations and in addition they will have |! |right to an economic benefit whose amount will be the |! |that is passed to point out: i. For those whose remuneration, including the |! |average variable values of the three |! |months prior to the end of their contracts, be |! |equal or lower $472,000 monthly, the benefit will be |! |equivalent to six months of the referred to |! |remuneration and consideration; ii. For those whose remuneration and other |! |consideration is greater than $472,000 and that no |! |exceed $780,000 monthly, the benefit will be |! |four months, and iii. For those whose remuneration and other |! |consideration is higher than $780,000 monthly, |! |the benefit will be two months. To access the benefits outlined in the above paragraph |! |, workers must comply with the following requirements: a. Have performed in the Service House of |! | Currency of Chile at least for 10 years uninterrupted |! |and immediately prior to the constitution of the |! | Company. b. That they have 60 or more years of age, if they are |! |women and 65 or more years, if they are men, to the date of |! |publication of the law. This bonus will be compatible with the bonus to the withdrawal |! |contemplated in the seventh article of the law No. |! | 19,882, under the same conditions and with the same |! |requirements mentioned in said legal body. The benefits of this number |! |will proceed with respect to those workers, who |! |voluntarily renounce their charges within the |! | 120 days following the company's constitution, and |! |will not be taxable or taxable, or will be |! |rent for no legal effect. II. The workers who to the date of |! |constitution of the company, would have performed in |! |quality of plant or contracts according to the rules of the |! | Administrative Statute or those workers |! |contracted under the rules of the Code of the I work in |! |the Chilean Mint service, and stop in the |! |charge or terminate the work contract, by |! |application of the first paragraph of article 161 of the |! | Labor Code and not pu Give access to the bonus by |! |withdrawal set in law No. 20.212, by application |! |of the provisions in the final paragraph of article 6º |! |transient or that do not comply with the requirement of |! |seniority required in the No. 1 of the article 7 |! |transient of the mentioned legal body, they will receive |! |as a supplement to the compensation for years of |! |service that corresponds according to the provisions in |! |article 13 of this law, a bonus whose amount will be the |! |that is passed to point out: i. For those whose remuneration, including the |! |average variable values of the three |! |months prior to the end of their contracts, be |! |equal or lower $472,000 monthly, the benefit will be |! |equivalent to six months of the referred to |! |remuneration and consideration; ii. For those whose remuneration and other |! |consideration is greater than $472,000 and that no |! |exceed $780,000 monthly, the benefit will be |! |four months, and iii. For those whose remuneration and other |! |consideration is higher than $780,000 monthly, |! |the benefit will be two months. To access the benefits outlined in the above |! |paragraph, workers must comply with the following requirements: a. Have performed in the Service House of |! | Currency of Chile at least for 10 years uninterrupted |! |and immediately prior to the constitution of the |! | Company. b. That they have 60 or more years of age, if they are |! |women and 65 or more years, if they are men, to the date of |! |publication of the law. The benefit of this number will proceed |! |regarding those workers, who are |! |terminate their contracts within 120 days |! |following the company's constitution, and will not be |! |taxable or taxable, nor constitute rent for |! |no legal effect. Notwithstanding the provisions |! |previously, you will not be able to access this benefit the |! |staff of the Chilean Mint Service that is |! |found governed by the rules of the Code of the |! | Work to which the provisions of the |! |article are applied. transient of said legal body and that it is |! |has performed with no continuity solution since |! |before August 14, 1981 to date. The bonus to the withdrawal that treats this article will be |! |incompatible with the bonus to the withdrawal set in the |! |article 6th transitional of law No. 20,212. Article 2 of the transitional period.-The date of the formation of the company Casa de Moneda de Chile S.A., the decree with force of law N ° 228, 1960, of the Ministry of Finance and the complementary rules of the same. Article 3 Transitional.-The highest fiscal expenditure representing in 2008 the application of Article 16 of this Law will be financed by item 50-01-03-24-03.104 of the Public Treasury Item of the current Budget Law. Article 4 ° transitory.-Autorizase al |! | President of the Republic to transfer to the |! |company Casa de Moneda de Chile S.A. the sum necessary |! |to finance the payment of bonuses and other |! |expenses that could irrogate the application of the |! |present law under item 50-01-03-24-03.104 of |! |the Public Treasury Item of the Budget Act |! |current. Article 5-Transitional.-The associations or groups of officials of the Casa de Moneda de Chile, governed by Law No 19.296, which are in legal personality in force at the date of the Constitution of the Company, shall, within the period of a year from that date, align its statutes with the provisions of Book III of the Labour Code. Failure to comply with this obligation within the prescribed period will mean the expiration of the legal personality of the respective organization by the sole ministry of law. Each union organization that begins to be governed by the Book III of the Labor Code, will be the legal successor of the respective association or grouping of the Chilean Mint. Article 6 of the transitional provisions.-The first collective bargaining of a non-regulated character between the legally constituted trade unions in the new company and the directory of the new company, may be carried out from the time of 120 days from, is, the first of the following facts: the appointment of the board of the company or the formation of the unions of the new company. Article 7 Transitional.-The new company must begin the necessary formalities to obtain the qualification of the tasks performed at Casa de Moneda as heavy works, according to the law No. 19,404 and its regulations. The workers and officials of Casa de Moneda de Chile, which for the purposes of this law are transferred to the new company, will be able to initiate the necessary formalities for the recognition of the time worked in the service as heavy works of According to the law No. 19,404, for which the totality of the time worked by these persons in the tasks qualified as heavy according to the law will be computed within that period. Transitional Article 8.-All workers and officials who are transferred to the new company that creates this law, may opt for the withdrawal bonus provided for in Law No 20.212 provided that they comply with the deadlines, requirements and conditions established in the aforementioned legal body. Article 9-Transitional.-The amounts received by the officials of Casa de Moneda de Chile by way of the replacement of Articles 17 and 18 of the Law Nº 19,185, at the time of publication of the law, are declared well paid at the time of publication of the law. compensatory allowance of Articles 10 and 11 of Law No 18,675; of the supplementary plan referred to in Article 30 (1) of Law No 19,882; of the allocation of production of Article 2 of Decree-Law No 632 of 1974; production incentives to all Chilean Mint personnel including supervisors, private security guards, operating plant personnel and fees; as well as the overtime that has been carried out by the personnel of the operating plant contained in Article 20 of Law Nº 18,827 and those paid to private guards governed by the decree law No. 3.607, 1981 and the decree with force of law No. 1, 2002, of the Ministry of Labor and Social Welfare, which fixed the consolidated, coordinated and systematized text of the Labour Code. Also, please have paid for all the staff of Casa de Moneda de Chile, including supervisors, private guards, staff of the operating plant and fees, the sum of $24,000, which monthly has received up to the moment of publication of the law, as a special bonus. As a result, the payments indicated in the preceding incites made by the Mint to the staff that are indicated in each case are adjusted to the right. Article 10 Transitional.-Notwithstanding the provisions of Article 11 of this Law, who at the date of the transfer meet the enabling conditions for the purposes of the provisions of Article 132 of the decree with force of law No 338, 1960, of the Ministry of Finance, shall maintain them, notwithstanding the changes which the application of this law will produce. " And because I have had to approve and sanction it; therefore, promulgate and take effect as the Law of the Republic. Santiago, 2 December 2008.-MICHELLE BACHELET, President of the Republic.-Andres Velasco Branes, Minister of Finance.-Hugo Lavados Montes, Minister of Economy, Development and Reconstruction. What I transcribe to you for your knowledge.-Salute intently to you, Maria Olivia Recart Herrera, Deputy Finance Secretary.