NewsWhore
05-12-2011, 04:00 PM
Yesterday the Senate passed the observations made by President Fernandez to the Law for the Development of the Mortgage and Trust Market, which permits the use of part of the pension fund money for housing construction. The full Senate body voted to accept the report presented by the Permanent Commission on Social Security, Labor and Pensions, chaired by Jose Maria Sosa and which had received the President's suggestions for review.
Two paragraphs that were eliminated will now be added to Article 69. Diario Libre says that these paragraphs establish the requirements with regard to the application process that should be carried out at the Risk Assessment and Investment Limits Commission by the agencies interested in having their stock considered as investment material by the Pension Fund Administrators. It was decided that the law, without the inclusion of these paragraphs, would present a high risk and an imminent danger for the country and for the pension system, taking into account the fact that they are precisely the ones that guarantee the control and the prudence in the use of these pension funds that belong to the Dominican workers.
More... (http://www.dr1.com/index.html#4)
Two paragraphs that were eliminated will now be added to Article 69. Diario Libre says that these paragraphs establish the requirements with regard to the application process that should be carried out at the Risk Assessment and Investment Limits Commission by the agencies interested in having their stock considered as investment material by the Pension Fund Administrators. It was decided that the law, without the inclusion of these paragraphs, would present a high risk and an imminent danger for the country and for the pension system, taking into account the fact that they are precisely the ones that guarantee the control and the prudence in the use of these pension funds that belong to the Dominican workers.
More... (http://www.dr1.com/index.html#4)