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September 23, 2022
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AN defers discussion for reform of the Insurance Activity Law

National Assembly approved appointment of four new ambassadors

The National Assembly (AN) deferred this Thursday in the second discussion of the Law Reform Project with Rank, Value and Force of Law of the Insurance Activity.

During the debate, the deputies agreed to modify several articles of the current law, among them, articles 9, 11, 17 and 21; and the elimination of 12 and 18.

In the article-by-article discussion; Deputy Ramón Lobo, member of the Finance, Economy and National Development Commission, requested to defer the discussion of the reform, approved by Parliament President Jorge Rodríguez, for next Tuesday, September 27 at 2:30 in the afternoon.

The deputies debated the substitution of the Tax Unit for the official exchange rate of the currency with the highest value, published by the Central Bank of Venezuela (BCV), according to the weighted average resulting from the daily operations of the active exchange tables of the participating banking institutions, as a reference value for the calculation of minimum capital, guarantee to the nation, fees for services and the penalties established by law.

The reform of the legal instrument, under evaluation by the Legislative Power, seeks to promote the insurance activity of the investments of the natural and legal persons of the country, as well as to strengthen the activities that are developed in the Special Economic Zones (ZEE).

In addition, among its points it proposes to provide training and technical assistance to cooperative associations by the Superintendence of Insurance Activity.

The president of the Permanent Subcommittee of Productive Economy of the Permanent Commission of Economy, Finance and National Development, deputy José Gregorio Vielma Mora, affirmed this Wednesday that the legal regulations will offer stability to tourism, financing and credits, in addition to guaranteeing protection to contractors. policies, public or private.

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