The Law that authorizes the President of the Republic to issue Decrees with the Status, Value, and Force of Law on the matters delegated to him was published in Official Gazette No. 6,112 of November 19, 2013.
The Law authorizes the President in order for him, in Cabinet Council, to issue Decrees with the Status, Value, and Force of Law in two ambits:
1.- In the ambit of fight against corruption, he may:
- Issue and/or amend rules and instruments intended to strengthen the essential values of the exercise of public functions.
- Issue and/or amend rules intended to strengthen the mechanisms of penalties for preventing the inadequate handling of public property and preventing acts of corruption.
- Issue rules against capital legalization.
- Establish mechanisms for fighting against foreign powers that seek to destroy the Homeland in the economic, political, and media sectors and issue rules that penalize the actions against the Nation’s security and defense.
- Fight the illegal financing of political parties.
- Establish rules that prevent and penalize the flight of foreign currency.
- Issue provisions to defend the national currency.
- Strengthen the national financial system.
2.- In the ambit of defense of economy, he may:
- Issue and/or amend laws that consolidate the principles that assure integral human development and a dignified and profitable existence for Venezuelan people.
- Issue and/or amend rules that establish the guidelines and strategies on matters related to production, importation, distribution, and commercialization of food, raw material, and essential products that have to be followed by the State agencies and entities.
- Issue and/or amend rules and/or measures intended to regulate the economy, as a means to encourage the transformation of the economic system, and assure monetary and price stability and a harmonious development of national economy. Strengthen the fight against stockpiling and charging of excessive prices (especulación).
- Regulate the matters concerning the requests for foreign currency.
- Guarantee the people’s right to have dependable goods and services, of quality, and at fair prices.
It is established that in the cases of Decrees on which the President confers the character of organic Decree and the Constitution of the Republic does not categorize them as such, prior to their being published in the Official Gazette, they have to be sent to the Constitutional Chamber of the Supreme Tribunal of Justice, in order for it to pronounce judgment on the constitutionality of such character.
The enabling of the President of the Republic will have a duration of 12 months for its exercise, as from November 19, 2013.
The Law entered into force upon its publication in the Official Gazette.
In order to access the Law, please click aquí.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”