Taken from Diario Libre
SANTO DOMINGO.-The Chamber of Deputies approved in its second reading the Public Trust bill that seeks to regulate this legal act in the country.
The bill had been approved in its second reading in the Lower House on January 25. It will now be considered by the Senate.
This is an initiative that was approved prior to the end of the last ordinary legislature, on January 12, so its consideration was taken up again in the Lower House, whose plenary session exempted it from the procedures of going to committee and reading.
The bill, revived in the current extraordinary legislative session, was introduced by Representatives Amado Díaz, Francisco Antonio Solimán, and Rosendy Polanco on January 24 of this year. The legislation establishes the creation of a technical council with an odd number of members, no fewer than three and no more than five, appointed by decree. This provision aims to ensure that the council is composed primarily of public officials.
The project, in its article 14, establishes that the processes of purchases and contracts in charge of the trust estate are done in accordance with the provisions of Law No. 340-06 on Public Purchases and Contracts, Works, Concessions and its modifications.
Furthermore, each public trust must develop its internal regulations for public procurement that contain the necessary international requirements and standards.
Furthermore, in its article 15, it states that all information contained in the trust agreement or in any other act subject to public registration or any other information that must be made public, by virtue of the law, must be disclosed by the settlor through his Office of Access to Public Information, as established by the Law of Free Access to Public Information.
