Esta ley enmienda la Ley Núm. 1 de 21 de agosto de 1990, conocida como la "Ley de la Corporación para el Desarrollo de las Exportaciones de Puerto Rico", para corregir un error en la composición de su Junta de Directores. La enmienda autoriza a los miembros de la Junta a delegar su participación en un representante y reincorpora al Administrador de la Administración de Desarrollo Comercial y al Secretario de Agricultura, además de añadir dos representantes adicionales del sector privado.
(Approved June 24, 2003)
To amend subsection
(a) of Section 6 of Act No. 1 of August 21, 1990, as amended, known as "Puerto Rico Exports Development Corporation Act," to authorize the members of the Board of Directors to delegate their participation before the Board upon a representative.
Pursuant to Act No. 12 of January 1, 2003, this Legislature amended Act No. 1 of August 21, 1990, as amended, known as the "Puerto Rico Exports Development Corporation Act," to authorize the members of the Board to delegate their participation before the Board upon a representative of said Corporation. However, the effect of the referenced amendment was that it changed the composition of the Board of Directors.
Therefore, this Legislature deems necessary to correct the error produced with the amendment to Act No. 1, supra, and to include the Administrator of the Commercial Development Administration and the Secretary of Agriculture in the Board of Directors of the Corporation once again, as well as two (2) additional private sector representatives.
Section 1.- Subsection
(a) of Section 6 of Act No. 1 of August 21, 1990, as amended, is hereby amended to read as follows:
"Section 6.- Administration.-
(a) The business of the Corporation and its subsidiaries shall be administered, and its corporate powers exercised, by a Board of Directors, which shall be constituted at all times by the Secretary of Economic Development and Commerce, who shall chair the Board, the Executive Director of the Industrial Development Company, the Administrator of the Commercial Development Administration, the President of the Economic Development Bank for Puerto Rico, the Executive Director of the Ports Authority, the Secretary of Agriculture, or their designated representatives, who must have the capacity, knowledge, and decisional power to effectively represent the executive public servant that they replace. Those designated shall report directly to the Agency Chief, who in turn shall be responsible for the determinations made by the Board. Additionally, five (5) private sector representatives, to be appointed by the other members of the Board, shall form part of the Board.
Section 2.- This Act shall take effect immediately after its approval.
I hereby certify to the Secretary of State that the following Act No. 145 (S.B. 2284) of the $5^{ ext {th }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to amend subsection
(a) of Section 6 of Act No. 1 of August 21, 1990, as amended, known as "Puerto Rico Exports Development Corporation Act," to authorize the members of the Board of Directors to delegate their participation before the Board upon a representative, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $3^{ ext {rd }}$ of March of 2004.
Elba Rosa Rodríguez-Fuentes Director