Copyright © 2023 Start-Ops Mexico All rights reserved.
The reproduction and/or distribution of this document is expressly prohibited without prior written permission of the author. You may not copy, reproduce, distribute, publish, display, perform, modify, transmit, nor may you distribute any part of this content over any network, including a local area network, sell or offer it for sale, or use such content to construct any kind of database.

Disclaimer
Legal texts and legal practice require close examination of terms and words and every sentence & paragraph can take very different meanings depending on how these are being interpreted. This document is an AI assisted translation of the original in Spanish and it should be used for information purposes only. The author of this document has made reasonable efforts to provide an accurate translation, however, in case of a discrepancy, the Spanish original will prevail before a court of law.

MEXICAN FOREIGN INVESTMENT LAW IN ENGLISH

New Law published in the Official Gazette of the Federation on December 27, 1993

CURRENT TEXT

Last amendment published DOF 15-06-2018

On the margin a seal with the National Coat of Arms, which reads: Estados Unidos Mexicanos - Presidencia de la República.

CARLOS SALINAS DE GORTARI , Constitutional President of the United Mexican States, to its inhabitants be it known:

That the H. Congress of the Union, has been so kind as to address to me the following

DECREE

"THE CONGRESS OF THE UNITED MEXICAN STATES, DECREES:

FOREIGN INVESTMENT LAW

TITLE ONE

GENERAL PROVISIONS

Chapter I

Object of the Law

ARTICLE 1. - This Law is of public order and of general observance throughout the Republic. Its purpose is to determine the rules for channeling foreign investment into the country and to encourage it to contribute to national development.

ARTICLE 2o .- For the purposes of this Law, the following definitions shall apply:

I.- Commission: the National Foreign Investment Commission;

II.- Foreign investment:

a) The participation of foreign investors, in any proportion, in the capital stock of Mexican companies;

(b) by Mexican companies with a majority of foreign capital; and

c) The participation of foreign investors in the activities and acts contemplated by this Law.

III.- Foreign investor: the individual or legal entity of a nationality other than Mexican and foreign entities without legal personality;

IV.- Registry: the National Registry of Foreign Investments;

V. Secretariat: the Secretariat of Economy;

Reformed fraction DOF 09-04-2012

VI.- Restricted Zone: The strip of the national territory of one hundred kilometers along the borders and fifty kilometers along the beaches, referred to in section I of Article 27 of the Political Constitution of the United Mexican States; and

VII.- Foreigners Exclusion Clause: The express agreement or pact that forms an integral part of the bylaws, whereby it is established that the companies in question will not directly or indirectly admit as partners or shareholders foreign investors, or companies with a foreigners admission clause.

ARTICLE 3 - For the purposes of this Law, investments made by foreigners in the country with the status of Permanent Resident, except those made in the activities contemplated in Titles One and Two of this Law, shall be considered Mexican investments.

Article amended DOF 25-05-2011

ARTICLE 4 .- Foreign investment may participate in any proportion in the capital stock of Mexican companies, acquire fixed assets, enter new fields of economic activity or manufacture new lines of products, open and operate establishments, and expand or relocate existing ones, except as provided in this Law.

The rules on the participation of foreign investment in the activities of the financial sector contemplated in this Law shall be applied without prejudice to the provisions of the specific laws for such activities.

For purposes of determining the percentage of foreign investment in economic activities subject to maximum participation limits, foreign investment that is indirectly made in such activities through Mexican companies with a majority of Mexican capital will not be computed, provided that the latter are not controlled by the foreign investment.

Paragraph added DOF 24-12-1996

Chapter II

Reserved Activities

ARTICLE 5 - The functions determined by law in the following strategic areas are reserved exclusively to the State:

I. Exploration and extraction of oil and other hydrocarbons, in terms of the provisions of Articles 27, paragraph seven and 28, paragraph four of the Political Constitution of the United Mexican States and the respective regulatory law;

Section amended DOF 11-08-2014

II. (Repealed.)

Section repealed DOF 11-08-2014

III. Planning and control of the national electric system, as well as the public service of transmission and distribution of electric energy, in terms of the provisions of Articles 27, paragraph six and 28, paragraph four of the Political Constitution of the United Mexican States and the respective regulatory law;

Reformed fraction DOF 11-08-2014

IV.- Nuclear energy generation;

V.- Radioactive minerals;

VI.- (Repealed).

Section repealed DOF 07-06-1995

VII.- Telegraphs;

VIII.- Radiotelegraphy;

IX.- Post Office;

X.- (Repealed).

Section repealed DOF 12-05-1995

XI.- Issuance of bills;

XII.- Coinage;

XIII.- Control, supervision and surveillance of ports, airports and heliports; and

XIV.- Any others expressly indicated in the applicable legal provisions.

ARTICLE 6 - The economic activities and companies mentioned below are reserved exclusively to Mexicans or Mexican companies with a foreigner exclusion clause:

I.- Domestic land transportation of passengers, tourism and cargo, not including courier and parcel services;

II. (Repealed.)

Section repealed DOF 11-08-2014

III.- Repealed

Section repealed DOF 14-07-2014

IV. (Repealed).

Section repealed DOF 20-08-2008

V.- Development banking institutions, in accordance with the terms of the applicable law; and

VI . The rendering of professional and technical services expressly indicated in the applicable legal provisions.

Foreign investment may not participate in the activities and companies mentioned in this article directly, nor through trusts, agreements, social or statutory covenants, pyramid schemes, or any other mechanism that grants them control or participation, except as provided in Title Five of this Law.

Chapter III

Activities and Acquisitions with Specific Regulation

ARTICLE 7 - In the economic activities and companies mentioned below, foreign investment may participate in the following percentages:

I.- Up to 10% in:

Production cooperative societies;

II. Repealed.

Section repealed DOF 26-06-2017

III.- Up to 49% in:

a) (repealed).

Subsection repealed DOF 19-01-1999

b) (repealed).

Subsection repealed DOF 19-01-1999

c) (repealed).

Subsection repealed DOF 19-01-1999

d) (repealed).

Subsection repealed DOF 19-01-1999

e) Repealed

Subsection repealed DOF 10-01-2014

f) Repealed

Subsection repealed DOF 10-01-2014

g) Repealed

Subsection repealed DOF 10-01-2014

h) Repealed

Subsection repealed DOF 10-01-2014

i) Repealed.

Subsection repealed DOF 18-07-2006

j) Repealed.

Subsection repealed DOF 18-07-2006

k) Repealed.

Subsection repealed DOF 18-07-2006

l) Repealed

Subsection repealed DOF 10-01-2014

m) (Repealed).

Subsection repealed DOF 04-06-2001

n) (repealed).

Subsection repealed DOF 04-06-2001

o) Repealed

Subsection repealed DOF 10-01-2014

p) Manufacture and commercialization of explosives, firearms, cartridges, ammunition and fireworks, not including the acquisition and use of explosives for industrial and extractive activities, nor the elaboration of explosive mixtures for the consumption of such activities;

q) Printing and publication of newspapers for exclusive circulation in the national territory;

r) Series "T" shares of companies that own agricultural, livestock and forestry land;

s) Freshwater, coastal and exclusive economic zone fishing, not including aquaculture;

t) Integral port administration;

u) Port services of pilotage to vessels to perform inland navigation operations under the terms of the corresponding Law;

v) Shipping companies engaged in the commercial exploitation of vessels for inland navigation and cabotage, except for tourist cruises and the exploitation of dredges and naval artifacts for the construction, conservation and operation of ports;

w) Supply of fuels and lubricants for ships and aircraft and railway equipment;

Section amended DOF 26-06-2017

x) Broadcasting. Within this maximum of foreign investment, the reciprocity that exists in the country where the investor or the economic agent that ultimately controls the investor, directly or indirectly, is incorporated will be taken into account, and

Reformed clause DOF 14-07-2014, 26-06-2017

y) Scheduled and non-scheduled domestic air transportation service; non-scheduled international air transportation service in the form of air cab; and, specialized air transportation service.

Subsection added DOF 26-06-2017

Reformed fraction DOF 24-12-1996

IV. (Repealed)

Section amended DOF 12-05-1995. Repealed DOF 24-12-1996

The limits for foreign investment participation set forth in this article may not be exceeded directly or through trusts, agreements, social or statutory covenants, pyramid schemes, or any other mechanism that grants control or a greater participation than that established, except as provided in Title Five of this Law.

ARTICLE 8o .- A favorable resolution of the Commission is required for foreign investment to participate in a percentage greater than 49% in the economic activities and companies mentioned below:

I.- Port services to vessels to carry out their inland navigation operations, such as towing, mooring of lines and launching;

II. Shipping companies dedicated to the operation of vessels exclusively in deep-sea traffic;

III. Companies holding concessions or permits for public service aerodromes;

Reformed fraction DOF 24-12-1996

IV. Private preschool, elementary, secondary, middle school, high school, higher and combined education services;

V. - Legal services;

VI. Repealed

Section repealed DOF 10-01-2014

VII. Repealed

Section repealed DOF 10-01-2014

VIII. Repealed

Section repealed DOF 10-01-2014

IX. Repealed

Section repealed DOF 14-07-2014

X. (Repealed.)

Section amended DOF 1986-12-24. Repealed DOF 11-08-2014

XI. (Repealed.)

Section amended DOF 1986-12-24. Repealed DOF 11-08-2014

XII . Construction, operation and exploitation of railroads that are general means of communication, and provision of public railroad transportation services.

Section added DOF 12-24-1996

ARTICLE 9 - A favorable resolution of the Commission is required in order for Mexican companies in which the foreign investment intends to participate, directly or indirectly, in a proportion greater than 49% of their capital stock, only when the total value of the assets of the companies in question, at the time of submitting the acquisition request, exceeds the amount determined annually by the Commission.

TITLE TWO

OF THE ACQUISITION OF REAL ESTATE, THE EXPLOITATION OF MINES AND WATERS, AND TRUSTS.

Title as amended DOF 12-24-1996

Chapter I

Acquisition of real estate and exploitation of mines and waters

Chapter name amended DOF 12-24-1996

ARTICLE 10 - Pursuant to the provisions of Section I of Article 27 of the Political Constitution of the United Mexican States, Mexican corporations with a foreigner exclusion clause or that have entered into the agreement referred to in said provision, may acquire ownership of real estate in Mexican territory.

In the case of companies whose bylaws include the agreement provided for in Section I of Article 27 of the Constitution, the following shall apply:

I.- They may acquire the ownership of real estate located in the restricted zone, intended for non-residential activities, and must give notice of such acquisition to the Ministry of Foreign Affairs, within sixty working days following the date on which the acquisition is made, and

Reformed fraction DOF 24-12-1996

II.- They may acquire rights over real property in the restricted zone, which are intended for residential purposes, in accordance with the provisions of the following chapter.

ARTICLE 10 A .- Foreigners who intend to acquire real estate outside the restricted zone, or obtain concessions for the exploration and exploitation of mines and waters in the national territory, must previously present before the Ministry of Foreign Affairs a written document in which they agree to the provisions of section I of Article 27 of the Political Constitution of the United Mexican States and obtain the corresponding permit from said agency.

When the real estate to be acquired is in a municipality totally located outside the restricted zone or when it is intended to obtain a concession for the exploitation of mines and waters in national territory, the permit will be deemed granted if the refusal of the Ministry of Foreign Affairs is not published in the Official Gazette of the Federation within five working days following the date of the filing of the application.

When the real estate to be acquired is in a municipality partially located within the restricted zone, the Ministry of Foreign Affairs will resolve the petition within thirty working days from the date of its presentation.

The National Institute of Statistics, Geography and Informatics will publish in the Official Gazette of the Federation and keep updated a list of the aforementioned municipalities, as well as those that are totally located in the restricted zone.

The Ministry of Foreign Affairs may determine, by means of general agreements to be published in the Official Gazette of the Federation , assumptions in which foreigners, in order to have the right referred to in this article, must only present before said agency a written document in which they agree to the provisions of section I of article 27 of the Constitution, without requiring the corresponding permit from said agency.

Article added DOF 24-12-1996

Chapter II

Real Estate Trusts in Restricted Areas

ARTICLE 11 . - Permission from the Ministry of Foreign Affairs is required for credit institutions to acquire as trustees, rights over real estate located within the restricted zone, when the purpose of the trust is to allow the use and exploitation of such property without constituting real rights over them, and the trustees are:

I.- Mexican companies without a foreigner exclusion clause in the case provided for in Section II of Article 10 of this Law; and

II.- Foreign individuals or legal entities.

ARTICLE 12 - The use and exploitation of the real property located in the restricted zone shall be understood to mean the rights to the use or enjoyment thereof, including, as the case may be, the obtaining of fruits, products and, in general, any yield resulting from the operation and lucrative exploitation, through third parties or the fiduciary institution.

ARTICLE 13 . - The duration of the trusts referred to in this chapter shall be for a maximum period of fifty years, which may be extended at the request of the interested party.

The Ministry of Foreign Affairs may at any time verify compliance with the conditions under which the permits provided for in this Title are granted, as well as the presentation and veracity of the content of the notices provided for therein.

Amended paragraph DOF 12-24-1996

ARTICLE 14 - The Ministry of Foreign Affairs shall decide on the permits referred to in this chapter, considering the economic and social benefit that the performance of these operations implies for the Nation.

Any application for a permit must be resolved by the Ministry of Foreign Affairs within five working days from the date of its submission to the competent central administrative unit, or within the following thirty working days, if it is submitted to the state delegations of said agency. Once said terms have expired without a resolution being issued, the respective application shall be deemed to have been approved.

Amended paragraph DOF 12-24-1996

TITLE THREE

OF THE COMPANIES

Incorporation and Modification of Corporations

ARTICLE 15 - The Ministry of Economy will authorize the use of the names or corporate names under which the companies intend to incorporate. The clause excluding foreigners or the agreement provided for in Section I of Article 27 of the Constitution must be inserted in the bylaws of the companies that are incorporated.

Article amended DOF 15-12-2011

ARTICLE 16 . - The procedure referred to in the preceding article shall apply to incorporated companies that change their name or corporate name.

Amended paragraph DOF 15-12-2011

Companies that modify their foreigner exclusion clause for the admission clause must notify the Ministry of Foreign Affairs within thirty working days following such modification.

If these companies are owners of real estate located in the restricted zone intended for non-residential purposes, they must give the notice referred to in Section I of Article 10 of this Law, within the term set forth in the preceding paragraph.

Article amended DOF 24-12-1996

ARTICLE 16 A .- The requests referred to in Articles 15 and 16 of this law must be resolved by the Ministry of Economy within two working days immediately following the date of their filing.

Article added DOF 24-12-1996. Amended DOF 15-12-2011

TITLE FOUR

OF THE INVESTMENT OF FOREIGN LEGAL ENTITIES

ARTICLE 17 - Without prejudice to the provisions of international treaties and agreements to which Mexico is a party, they must obtain authorization from the Secretariat:

I.- Foreign legal entities that intend to habitually carry out acts of commerce in the Republic, and

II.- The persons referred to in Article 2,736 of the Civil Code for the Federal District in common matters, and for the entire Republic in federal matters, who intend to establish themselves in the Republic and who are not regulated by laws other than said Code.

Article amended DOF 24-12-1996

ARTICLE 17 A .- The authorization referred to in the preceding article shall be granted when the following requirements are met:

a) That such persons prove that they are constituted in accordance with the laws of their country;

b) That the articles of incorporation and other constituent documents of such persons are not contrary to the precepts of public policy established by Mexican law; and

c) In the case of the persons referred to in section I of the preceding article, that are established in the Republic or have an agency or branch office therein; or, in the case of the persons referred to in section II of the preceding article, that have a representative domiciled in the place where they are going to operate, authorized to respond for the obligations they contract.

Any application that complies with the aforementioned requirements must be granted within fifteen business days from the date of its filing. Once said term has expired without a resolution being issued, it shall be deemed to be approved.

The Secretariat shall send to the Ministry of Foreign Affairs a copy of the applications and authorizations granted based on this article.

Article added DOF 24-12-1996

TITLE FIVE

OF THE NEUTRAL INVESTMENT

Chapter I

On the Concept of Neutral Investment

ARTICLE 18 . - The neutral investment is that made in Mexican companies or in trusts authorized in accordance with this Title and shall not be computed to determine the percentage of foreign investment in the capital stock of Mexican companies.

Chapter II

Of Neutral Investment Represented by Instruments Issued by Trust Institutions

ARTICLE 19 - The Secretariat may authorize trust institutions to issue neutral investment instruments which shall only grant, with respect to companies, pecuniary rights to their holders and, if applicable, limited corporate rights, without granting their holders the right to vote in their Ordinary General Meetings.

The Secretariat will have a maximum term of thirty-five business days to grant or deny the requested authorization, counted from the day following the day on which the application was filed. Once said term has expired without a resolution being issued, the respective application will be deemed to be approved.

Paragraph added DOF 24-12-1996

Chapter III

Neutral Investment Represented by Special Series of Shares

ARTICLE 20 - Investments in shares without voting rights or with limited corporate rights are considered neutral, provided they obtain prior authorization from the Ministry and, when applicable, from the National Banking and Securities Commission.

Article amended DOF 24-12-1996

Chapter IV

Neutral Investment in Holding Companies of Financial Groups, Multiple Banking Institutions and Brokerage Firms

ARTICLE 21 .- (Repealed)

Article repealed DOF 24-12-1996

Chapter V

Neutral Investment by International Finance Companies for Development

ARTICLE 22 - The Commission may decide on the neutral investment that international development finance companies intend to make in the capital stock of companies, in accordance with the terms and conditions established for such purpose in the regulations of this Law.

SIXTH TITLE

OF THE NATIONAL FOREIGN INVESTMENT COMMISSION

Chapter I

Structure of the Commission

ARTICLE 23 . The Commission shall be composed of the Secretaries of the Interior; of Foreign Affairs; of Finance and Public Credit; of Social Development; of the Environment, Natural Resources and Fisheries; of Energy; of Commerce and Industrial Development; of Communications and Transportation; of Labor and Social Welfare, as well as of Tourism, who may appoint an Undersecretary as alternate. Likewise, those authorities and representatives of the private and social sectors related to the matters to be discussed may be invited to participate in the meetings of the Commission, who will have the right to speak but not to vote.

The Committee shall meet at least every six months and shall decide on matters within its competence by majority vote, its chairman having the casting vote in the event of a tie.

Article amended DOF 24-12-1996

ARTICLE 24 The Commission shall be presided over by the Secretary of Commerce and Industrial Development and shall have an Executive Secretary and a Committee of Representatives for its operation.

ARTICLE 25 . The Committee of Representatives shall be composed of the public servant appointed by each of the Secretaries of State who are members of the Commission, shall meet at least every four months, and shall have the powers delegated to it by the Commission itself.

Article amended DOF 24-12-1996

Chapter II

Powers of the Commission

ARTICLE 26 - The Commission shall have the following powers:

I.- To dictate policy guidelines on foreign investment and design mechanisms to promote investment in Mexico;

II.- Resolve, through the Secretariat, on the appropriateness and, as the case may be, on the terms and conditions of the participation of foreign investment in activities or acquisitions with specific regulation, pursuant to Articles 8 and 9 of this Law;

III.- To be a mandatory consultation body on foreign investment matters for the agencies and entities of the Federal Public Administration;

IV.- To establish the criteria for the application of the legal and regulatory provisions on foreign investment, by means of the issuance of general resolutions; and

V.- Any other duties that correspond to it in accordance with these by-laws.

ARTICLE 27 . - The Executive Secretary of the Commission shall have the following duties:

I.- Represent the Commission;

II.- To notify the resolutions of the Commission, through the Secretariat;

III.- To carry out the studies entrusted to it by the Commission;

IV.- Submit to the Congress of the Union a four-monthly statistical report on the behavior of foreign investment in the country, including the economic sectors and regions in which it is located; and

Reformed fraction DOF 24-12-1996

V.- Any other duties that correspond to it in accordance with this Law.

Chapter III

Operation of the Commission

ARTICLE 28 . - The Commission shall resolve the requests submitted for its consideration within a term that shall not exceed 45 business days from the date of submission of the respective request, under the terms established in the Regulations of this Law.

In the event that the Commission does not resolve within the indicated term, the application will be considered approved in the terms presented. At the express request of the interested party, the Secretariat shall issue the corresponding authorization.

ARTICLE 29 - In order to evaluate the applications submitted for its consideration, the Commission shall consider the following criteria:

I.- The impact on employment and worker training;

II.- Technological contribution;

III.- Compliance with the provisions on environmental matters contained in the ecological ordinances governing the matter; and

IV.- In general, the contribution to increase the competitiveness of the country's productive plant.

The Commission, when deciding on the merits of an application, may only impose requirements that do not distort international trade.

ARTICLE 30 - For reasons of national security, the Commission may prevent acquisitions by foreign investment.

TITLE SEVENTH

OF THE NATIONAL REGISTRY OF FOREIGN INVESTMENTS

ARTICLE 31 . - The Registry shall not be of a public nature, and shall be divided into such sections as may be established by its regulations, which shall determine its organization, as well as the information to be provided to the Registry itself.

ARTICLE 32 - The following shall be entered in the Register:

I.- The Mexican companies in which they participate, including through trusts:

a) Foreign investment;

b) Mexicans who possess or acquire another nationality and who have their domicile outside the national territory; or

c) Neutral investment;

Reformed fraction DOF 24-12-1996, 23-01-1998

II.- Those who habitually carry out acts of commerce in the Mexican Republic, provided that they are:

a) Foreign individuals or legal entities, or

b) Mexicans who possess or acquire another nationality and who have their domicile outside the national territory; and

Reformed fraction DOF 23-01-1998

III.- Trusts of shares or social parts, of real estate or of neutral investment, by virtue of which rights are derived in favor of foreign investment or of Mexicans who possess or acquire another nationality and who have their domicile outside the national territory.

Reformed fraction DOF 23-01-1998

The obligation of registration will be the responsibility of the individuals or legal entities referred to in sections I and II and, in the case of section III, the obligation will correspond to the fiduciary institutions. The registration must be made within 40 business days from the date of incorporation of the company or of participation of the foreign investment; of formalization or notarization of the related documents of the foreign company; or of incorporation of the respective trust or granting of trustee rights in favor of the foreign investment.

ARTICLE 33 - The Registry shall issue the registration certificates when the application contains the following data:

I.- In the cases of fractions I and II:

a) Name, denomination or corporate name, domicile, date of incorporation, if applicable, and main economic activity to be carried out;

b) Name and address of the legal representative;

c) Name and address of the persons authorized to hear and receive notifications;

d) Name, denomination or corporate name, nationality and residence status, if any, domicile of the foreign investors abroad or in the country and their percentage of participation;

Section amended DOF 25-05-2011

e ) Amount of capital stock subscribed and paid-in or subscribed and payable; and

f) Estimated date of commencement of operations and approximate amount of total investment with its schedule.

II . In the case of section III:

a) Name of the fiduciary institution;

b ) Name, denomination or corporate name, domicile and nationality of the foreign investment or of the trusting foreign investors;

c) Name, denomination or corporate name, domicile and nationality of the foreign investment or of the foreign investors designated as trustees;

d) Date of incorporation, purpose and duration of the trust; and

e) Description, value, purpose and, if applicable, location of the trust assets.

Once the registration certificate and its renewals have been issued, the Registry reserves the right to request clarifications regarding the information submitted.

Any modification to the information submitted under the terms of this article shall be notified to the Registry in accordance with the provisions of its regulations.

ARTICLE 34 - In the incorporation, modification, transformation, merger, spin-off, dissolution and liquidation of mercantile corporations, partnerships and civil associations, and in general, in all legal acts and events in which the persons required to register with the Registry under the terms of Article 32 of this Law intervene by themselves or represented, the notaries public will require such persons or their representatives to prove their registration with the aforementioned Registry, or if the registration is in process, to prove the corresponding request. If they fail to do so, the notary public may authorize the public instrument in question, and shall inform the Registry of such omission within ten working days following the date of authorization of the instrument.

ARTICLE 35 . - The parties obliged to register in the Registry shall renew their registration certificate annually, for which purpose it shall be sufficient to submit an economic-financial questionnaire under the terms established in the respective regulations.

ARTICLE 36 - The federal, state and municipal authorities are obliged to provide the Secretariat with the reports and certifications necessary for the fulfillment of its functions in accordance with this Law and its regulatory provisions.

TITLE EIGHT

OF PENALTIES

ARTICLE 37 - In the case of acts carried out in contravention of the provisions of this Law, the Secretariat may revoke the authorizations granted.

The acts, agreements or social and statutory covenants declared null and void by the Secretariat, for being contrary to the provisions of this Law, will not be legally effective between the parties nor will they be enforceable against third parties.

ARTICLE 38 . - Violations of the provisions of this Law and its regulatory provisions shall be sanctioned in accordance with the following:

I.- In the event that the foreign investment carries out activities, acquisitions or any other act that requires a favorable resolution from the Commission to be carried out, without having previously obtained such resolution, a fine of one thousand to five thousand salaries shall be imposed;

II.- In the event that foreign legal entities habitually carry out acts of commerce in the Mexican Republic, without having previously obtained the authorization of the Secretariat, a fine of five hundred to one thousand salaries will be imposed;

III.- In case of performing acts in contravention of the provisions of this Law or its regulatory provisions regarding neutral investment, fines of one hundred to three hundred salaries will be imposed;

IV.- In case of omission, untimely compliance, submission of incomplete or incorrect information regarding the obligations of registration, report or notice to the Registry by the obligated parties, a fine of thirty to one hundred salaries will be imposed;

V.- In case of simulation of acts with the purpose of allowing the enjoyment or disposition of real estate in the restricted zone to foreign individuals or legal entities or to Mexican companies that do not have a foreigner exclusion clause, in contravention of the provisions of Titles Two and Three of this Law, the offender shall be sanctioned with a fine up to the amount of the transaction; and

VI.- In case of other violations of this law or its regulatory provisions, a fine of one hundred to one thousand salaries shall be imposed.

For the purposes of this article, salary means the general daily minimum wage in force in the Federal District at the time the infraction is determined.

For the determination and imposition of penalties, the interested party must be previously heard and, in the case of monetary penalties, the nature and seriousness of the violation, the economic capacity of the violator, the time elapsed between the date on which the obligation should have been complied with and its compliance or regularization, and the total value of the transaction must be taken into consideration.

The Secretariat shall be responsible for the imposition of sanctions, except for the infraction referred to in Section V of this Article and the others related to the Second and Third Titles of this Law, which shall be applied by the Secretariat of Foreign Affairs.

The imposition of the penalties referred to in this Title shall be without prejudice to any civil or criminal liability that may apply.

ARTICLE 39 - Notaries public shall list, insert or add to the official file or appendix of the instruments in which they intervene, the official documents containing the authorizations to be issued under the terms of this Law. When they authorize instruments in which such authorizations are not listed, they shall be subject to the penalties determined by the corresponding notarial laws and the Federal Public Brokerage Law.

TRANSITIONS

FIRST - This Law shall enter into force on the day following its publication in the Official Gazette of the Federation .

SECOND .- Abrogated:

I.- The Law to Promote Mexican Investment and Regulate Foreign Investment, published in the Official Gazette of the Federation on March 9, 1973;

II.- The Organic Law of Section I of Article 27 of the Constitution, published in the Official Gazette of the Federation on January 21, 1926.

III.- The Decree that establishes the transitory need to obtain a permit for the acquisition of goods from foreigners and for the incorporation or modification of Mexican companies that have or had foreign partners, published in the Official Gazette of the Federation on July 7, 1944.

THIRD .- Repealed:

I.- Articles 46 and 47 of the Federal Law of Firearms and Explosives, published in the Official Gazette of the Federation on January 11, 1972; and

II.- All legal, regulatory and administrative provisions of a general nature that oppose this Law.

FOURTH - Until the Regulations of this Law are issued, the Regulations of the Law to Promote Mexican Investment and Regulate Foreign Investment, published in the Official Gazette of the Federation on May 16, 1989, will remain in force in all that does not oppose the same.

FIFTH - Foreign investors and companies with foreign investment, which as of the date of publication of this Law have entered into programs, requirements and commitments before the Commission, its Executive Secretary or the General Directorate of Foreign Investment of the Ministry, may submit to the consideration of said General Directorate the exemption of their compliance, for which purpose said administrative unit must respond on the appropriate matter within a term not to exceed 45 business days, counted as of the filing of the corresponding request. Those foreign investors who do not avail themselves of the possibility of the aforementioned exemption must comply with the commitments previously defined before the Commission, persons and public entities indicated.

SIXTH - The activities of international land transportation of passengers, tourism and cargo between points of the territory of Mexico and the service of administration of passenger bus stations and auxiliary services are reserved exclusively to Mexicans or Mexican companies with a clause of exclusion of foreigners.

However, foreign investment may participate in the aforementioned activities in accordance with the following provisions:

I.- As of December 18, 1995, up to 49% of the capital stock of Mexican companies;

II.- Beginning January 1, 2001, up to 51% of the capital stock of Mexican companies; and

III.- As of January 1, 2004, up to 100% of the capital stock of Mexican companies without the need to obtain a favorable resolution from the Commission.

SEVENTH . Foreign investment may hold up to 49% of the capital stock of Mexican companies engaged in the manufacture and assembly of parts, equipment and accessories for the automotive industry, without prejudice to the provisions of the Decree for the Promotion and Modernization of the Automotive Industry. As of January 1, 1999, foreign investment may participate up to 100% in the capital stock of Mexican companies, without the need to obtain a favorable resolution from the Commission.

EIGHTH - Foreign investment may participate up to 49% of the capital stock of Mexican companies engaged in the provision of videotext and packet switching services. As of July 1, 1995, foreign investment may participate up to 100% in companies engaged in the aforementioned services, without the need to obtain a favorable resolution from the Commission.

NINTH .- A favorable resolution of the Commission is required for foreign investment to participate in a percentage greater than 49% of the capital stock of companies engaged in building, construction and installation activities. As of January 1, 1999, foreign investment may participate up to 100% in the capital stock of Mexican companies engaged in such activities, without the need to obtain a favorable resolution from the Commission.

TENTH .- For the purposes of the provisions of Article 9, and until the Commission determines the amount of the total value of the assets referred to in said Article, the amount of eighty-five million new pesos is determined to be eighty-five million new pesos.

Eleventh - Foreign investors and Mexican companies with a foreigners admission clause that have in their favor real estate in a restricted zone as of the entry into force of this Law, will be subject to the provisions of Chapter II of the Second Title of the same, in all matters that benefit them.

Mexico City, December 15, 1993.- Deputy Fernando Rodríguez Cerna , Chairman.- Senator Eduardo Robledo Rincón, Chairman.- Deputy Juan Adrián Ramírez García, Secretary.- Senator Antonio Melgar Aranda, Secretary.- Signatures". Eduardo Robledo Rincón , Chairman.- Deputy Juan Adrián Ramírez García , Secretary.- Sen. Antonio Melgar Aranda , Secretary.- Rubrics".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the twenty-third day of December of the year nineteen hundred and ninety-three.

TRANSITORY ARTICLES OF REFORM DECREES

Regulatory Law of the Railroad Service.

Published in the Diario Oficial de la Federación on May 12, 1995.

TRANSITIONS

First. This Law shall enter into force on the day following its publication in the Official Gazette of the Federation .

Second. The Secretariat will process the requests referred to in Articles 9, section I and 16, second paragraph, of the present Law 180 days after the Law enters into force.

Third. Repealed:

I. Articles 1, Section V; 9, Section I, and 129 to 145 of the General Communication Roads Law;

II. Articles 5, section X, and 7, section IV, subsection s) of the Foreign Investment Law, and

III. All provisions that oppose this Law.

Fourth. Ferrocarriles Nacionales de México, a decentralized public agency, will continue to manage and operate the Mexican railroads under its Organic Law, until such time as the Secretary, in accordance with the provisions of this Law, grants concessions and permits to third parties with respect to the railroads, the public railroad transportation service and the auxiliary services currently operated by said agency.

The foregoing, in the understanding that Ferrocarriles Nacionales de México shall comply with the provisions of this Law regarding the construction, operation, exploitation, preservation and maintenance of railroads, the rendering of public railroad transportation services and auxiliary services.

Fifth. The concessions and permits granted pursuant to this Law will not affect the rights of the active workers, retirees and pensioners of the decentralized public agency Ferrocarriles Nacionales de México, which will be respected in accordance with the provisions of Article 123 of the Constitution and the Federal Labor Law.

Sixth. The holders of the contracts entered into with Ferrocarriles Nacionales de México for the provision of maintenance services for railroad equipment and freight terminals, may continue to perform their activities under the terms and conditions agreed upon.

Seventh. Pending the issuance of the regulatory and administrative provisions referred to in this Law, the provisions issued on the matter prior to the enactment of this Law shall continue to apply, insofar as they do not oppose it.

Martha Lara Alatorre , President.- Alejandro González Alcocer , President.- Juan Fernando Palomino Topete , Secretary.- José Antonio Hernández Fraguas , Secretary.- Rubrics".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue the present Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the tenth day of May of the year nineteen hundred and ninety-five.

Federal Telecommunications Law.

Published in the Diario Oficial de la Federación on June 7, 1995.

TRANSITIONS

FIRST. This Law shall enter into force the day after its publication in the Official Gazette of the Federation , except for Sections III of Section B and IV of Section C of Article 71, which shall enter into force 180 calendar days after the effective date of this Law.

SECOND: The following are repealed:

I. Sections IX and X of Article 1; Section IV of Article 9; the second and third paragraphs of Article 11; 106; and Articles 374 to 377; 390; 392 to 402 and 579 of the General Communication Roads Law;

II. Section VI of Article 5 of the Foreign Investment Law; and

III. All those provisions that oppose the present Law.

THIRD. The regulatory and administrative provisions in force shall continue to apply until such time as new ordinances are issued to replace them, except insofar as they oppose this Law.

FOURTH. Telecomunicaciones de México will continue to operate the satellite communication services and the public networks it is in charge of, in the understanding that in the provision of telecommunication services it must comply with the provisions of this Law.

The Ministry, in accordance with the provisions of this Law, may grant concessions and permits to third parties with respect to the networks and services currently provided by Telecomunicaciones de México, except for telegraph and radiotelegraph services.

FIFTH. Concessions and permits granted prior to the entry into force of this Law shall be respected under the terms and conditions set forth in the respective titles, until their expiration.

Concession applications in process will be adjusted to the provisions of this Law, except when, in accordance with the General Communication Roads Law, the result of the technical studies has been favorable and the application has been published in the Official Gazette of the Federation , provided that no objections have been formulated or these have been rejected. In this case, the provisions in force prior to the entry into force of this Law will apply exclusively to the procedure.

The requests referred to in the preceding paragraph shall be resolved by the Secretariat within a term not to exceed 120 calendar days from the effective date of this ordinance.

Permit applications in process shall comply with the provisions of this Law.

SIXTH. The owners of frequency bands that have been assigned prior to the entry into force of this Law, who wish to provide through such frequency bands, services not contemplated in their concession or permit, shall apply to the Ministry, who will decide what is appropriate, based on the provisions of this Law.

For such purpose, the Ministry may require the payment of a consideration, the amount of which will be determined taking into account the amplitude of the radio spectrum band and the geographic coverage that the concessionaire will use to provide the new service and the payment made by other concessionaires to obtain frequency bands for similar uses under the terms of this Law.

SEVENTH. The concessions granted for public telecommunications networks may only begin to provide basic long distance public telephony services after August 10, 1996, except when the current concessionaires have not complied with the conditions of expansion and efficiency of the services contained in their concession title.

EIGHTH. The concessionaires of public telecommunications networks in operation must register and apply interconnection tariffs between their own services as of September 1, 1995. These obligations will also apply to the existing interconnection between the concessionaire and its affiliates and subsidiaries.

Likewise, as of January 1, 1996, they must keep separate accounting records for each service, applying unbundled rates.

NINTH. The concessionaires of public telecommunications networks in operation may begin negotiations for the interconnection of their respective public networks in accordance with the terms of this Law as of September 1, 1995.

TENTH. Public telecommunications network licensees that have entered into interconnection agreements under the terms of this Law with public network licensees that intend to provide national and international long distance public basic telephone service may begin to operate the respective interconnection as of January 1, 1997. For this purpose, the guidelines established by the Ministry in the "Resolution on the Interconnection Plan with Long Distance Public Networks", which was published in the Official Gazette of the Federation on July 1, 1994, must be observed.

Eleventh. Not later than August 10, 1996, the Federal Executive shall establish a decentralized body of the Ministry of Communications and Transportation, with technical and operational autonomy, which shall have the necessary organization and powers to regulate and promote the efficient development of telecommunications in the country, in accordance with the provisions of its decree of creation.

Mexico City, May 18, 1995.- Sen. Germán Sierra Sánchez , Chairman.- Dip. Lauro Rendón Castrejón , Chairman.- Sen. Angel Ventura Valle , Secretary.- Dip. Sergio Ramírez Vargas , Secretary.- Rubrics".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the sixth day of the month of June of nineteen hundred and ninety-five.

DECREE amending, adding and repealing several provisions of the Federal Law of Administrative Procedure; the Federal Law on Metrology and Standardization; the Mining Law; the Foreign Investment Law; the General Law of Mercantile Corporations and the Civil Code for the Federal District in common matters, and for the entire Republic in federal matters.

Published in the Diario Oficial de la Federación on December 24, 1996.

ARTICLE FOUR. Section III of Article 7, Sections III, X and XI of Article 8, the name of Title Two and Chapter I thereof, Section I of Article 10, the second paragraph of Article 13, the second paragraph of Article 14, Articles 16, 17, 20, 23 and 25, Section IV of Article 27 and Section I of Article 32 are amended ; a last paragraph is added to Article 4, Section XII to Article 8, Articles 10 A, 16 A, 17 A and a second paragraph to Article 19, and Articles 10 A, 16 A, 17 A and a second paragraph to Article 19 are repealed, a section XII to article 8, articles 10 A, 16 A, 17 A and a second paragraph to article 19, and repealing section IV of article 7 and article 21 of the Foreign Investment Law, to read as follows:

..........

TRANSITIONS

FIRST.- This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation , except as provided in the following article.

SECOND.- The second paragraph of Article 10A of the Foreign Investment Law will enter into force thirty business days following the date of publication of this Decree in the Official Gazette of the Federation . Within this period the list referred to in said provision must be published.

Mexico City, December 10, 1996. Laura Pavón Jaramillo , President.- Felipe Amadeo Flores Espinosa , President.- Ángel Ventura Valle , Secretary.- Carlos Núñez Hurtado , Secretary."

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States and for its due publication and observance, I issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the eighteenth day of December of the year one thousand nine hundred and ninety-six.

DECREE amending several legal ordinances.

Published in the Diario Oficial de la Federación on January 23, 1998.

SOLE ARTICLE. Articles 20 and 32, section I, are amended and section I BIS is added to Article 47 of the Mexican Foreign Service Law; Articles 4, section I, 117, 161, first paragraph, and 173, second paragraph, are amended and Article 148 BIS is added to the chapter called "Recruitment" and a subsection F) is added to section II of Article 170 of the Organic Law of the Mexican Army and Air Force; Article 57 is amended and a subsection E) is added to section I of Article 105 of the Organic Law of the Mexican Navy; Article 4, section I of the Code of Military Justice is amended; Article 5 BIS is added to the Military Service Law; Articles 106 and 108 of the Organic Law of the Judicial Power of the Federation are amended; 4, first paragraph, of the Organic Law of the Federal Tax Court; 9, section I, of the Law for the Treatment of Minor Offenders for the Federal District in Common Matters and for the whole Republic in Federal Matters are amended; 20, paragraph a), 22 and 23, in their respective sections I, of the Organic Law of the Federal District Attorney General's Office; 19, 34 and 35, in their respective sections I, of the Organic Law of the Federal District Attorney General's Office; 76, 91, 103, 114 and 120, in their respective paragraphs a), of the Federal Code of Electoral Institutions and Procedures; 22 and 50, in their respective first paragraphs, of the Navigation Law; 7, first paragraph and a second paragraph is added, articles 38 and 40, first paragraph, of the Civil Aviation Law are amended; 189, 216 and 612, section I, of the Federal Labor Law; 267 of the Social Security Law; 156, section I and 166, second paragraph, of the Law of the Institute of Social Security and Social Services of State Workers; 28, first paragraph, 50, section IV, and repealing section III of article 51 of the Law of the Institute of Social Security for the Mexican Armed Forces; Articles 21, Section I of the Federal Law of Parastatal Entities; 51 of the Regulatory Law of Article 27 of the Constitution on Nuclear Matters; 9, Section I of the Law of the National Human Rights Commission; 8, Section I of the Federal Law of Public Brokerage; 6, second paragraph of the Law of the National Commission of Human Rights; 8, Section I of the Federal Law of Public Brokerage; 6, second paragraph of the Law of the National Commission of Human Rights; 6, second paragraph of the Federal Law of Public Brokerage; 6, second paragraph, of the Organic Law of the National Institute of Anthropology and History; 32, sections I to III, of the Foreign Investment Law ; 14, section I, of the General Law that establishes the Bases for Coordination of the National Public Security System; 5o., Section I of the Law of the Energy Regulatory Commission; 10, Section I and 14, Section I of the Law of the Retirement Savings Systems; 12, Section I of the Organic Law of the Agrarian Courts; 39, Section I of the Law of the Bank of Mexico; 26, Section I of the Federal Law of Economic Competition; 121, Section I of the Federal Law of Workers in the Service of the State, Regulatory of Section "B" of Article 123 of the Constitution; and 15, Section I and last paragraph of the Law of the National Banking and Securities Commission, to read as follows:

..........

TRANSITORY

This Decree shall enter into effect on March 20, 1998.

Heladio Ramírez López , Chairman.- Luis Meneses Murillo , Chairman.- José Antonio Valdivia , Secretary.- Jaime Castro López , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the thirtieth day of December of the year nineteen hundred and ninety-seven, Ernesto Zedillo Ponce de León .

DECREE enacting the Bank Savings Protection Law and amending, adding and repealing several provisions of the laws of Banco de México, Credit Institutions, the Securities Market and to Regulate Financial Institutions.

Published in the Diario Oficial de la Federación on January 19, 1999.

TRANSITIONS

FIRST.- The second article of this Decree shall enter into force on the day following its publication in the Official Gazette of the Federation .

SECOND.- Subsections a), b), c) and d) of Section III of Article 7 of the Foreign Investment Law are hereby repealed.

THIRD.- Series "A" and "B" shares, representative of the capital stock of the controlling companies of financial groups, multiple banking institutions, brokerage firms and stock market specialists, are converted into series "O" shares with the characteristics contained in articles 18 of the Law to Regulate Financial Groups, 13 of the Law of Credit Institutions and 17-bis of the Securities Market Law, without the need for a shareholders' meeting resolution and as of the effective date of this Decree. Therefore, the aforementioned financial institutions must carry out the respective exchange in accordance with the following article.

FOURTH.- The exchange of shares to be carried out by the controlling companies of financial groups, credit institutions, brokerage firms and stock exchange specialists, shall be in accordance with the following:

I.- It will be formalized at the request made by the aforementioned financial institutions to the securities depository institution where the shares subject to the exchange are deposited.

The president and secretary of the board of directors of the financial entities mentioned in the first paragraph of this article will have a term of five years from the date this Decree becomes effective to present the petition referred to in this section, in order to cancel the series "A" and "B" shares, issue the shares of the new series "O", and deposit the latter in an institution for the deposit of securities, in accordance with the provisions of articles 18-bis, first paragraph of the Law to Regulate Financial Institutions, 12, first paragraph of the Law of Credit Institutions, 17-bis, penultimate paragraph, 67 and 74 of the Securities Market Law;

II.- The shares resulting from the exchange must represent the same participation in the paid-in capital as the shares exchanged;

III.- It will not be considered that there is a transfer of shares for purposes of the Income Tax Law, as long as the exchange referred to in this article does not imply a change of the owner of the shares, and

IV.- For purposes of the preceding section, the average cost of the shares resulting from the exchange will be that which corresponds to the shares exchanged.

FIFTH.- Once the term referred to in Section I of the preceding article has elapsed without compliance with said provision, the holders of the shares may not exercise the corresponding corporate and equity rights, nor may the controlling company, multiple banking institution, brokerage house or stock exchange specialist in question, register the transfers of Series "O" shares that are intended to be recorded in the shareholders' ledger, until the exchange and deposit referred to in Section I of the preceding article have been made.

SIXTH.- The financial companies of financial groups, credit institutions, brokerage firms and stock exchange specialists, as well as subsidiaries of the type of the aforementioned financial entities, whose shares, if any, remained registered in the National Registry of Securities and Intermediaries prior to the entry into force of this Decree, must notify the National Registry of Securities of the exchange carried out under the terms and conditions set forth in the Third and Fourth Transitory Articles above, for purposes of maintenance and other legal consequences that may apply.

SEVENTH.- The controlling companies of financial groups, multiple banking institutions, brokerage firms, stock exchange specialists and Subsidiaries of the type of the above mentioned financial entities, will have a term of three years as from the entry into force of this Decree, so that their board of directors and supervisory body adjust to the provisions of articles 24 and 27-L of the Law to Regulate Financial Groupings, 22, 26 and 45-K of the Law of Credit Institutions, and 17 bis 1 and 28 bis 11 of the Securities Market Law, as applicable.

The directors and statutory auditors of series "A", "B" and "F" of the aforementioned financial entities will continue to perform their duties until the corresponding appointments are made in terms of the provisions referred to in the preceding paragraph, and those appointed take office.

Luis Patiño Pozas , Chairman.- Sen. José Ramírez Gamero , Chairman.- Sen. Horacio Veloz Muñoz , Secretary.- Sen. Gabriel Covarrubias Ibarra , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the thirty-first day of December of the year one thousand nine hundred ninety-eight, Ernesto Zedillo Ponce de León .

DECREE enacting the Investment Companies Law.

Published in the Diario Oficial de la Federación on June 4, 2001.

TRANSITIONS

FIRST. This Decree enacting the Investment Companies Law will enter into force six months after the date of its publication in the Official Gazette of the Federation , with the exception of articles 61 and the sixth transitory article, which will enter into force as of the respective publication, for the purposes set forth in the latter article.

The provisions of articles 94 to 97 shall enter into force on January 1, 2002.

SECOND: Upon the entry into force of this Decree, the Investment Companies Law published in the Official Gazette of the Federation on January 14, 1985 is repealed, and paragraphs m) and n) of Article 7 of the Foreign Investment Law are repealed.

THIRD. Investment companies that have divided their fixed capital into two or more classes of shares, will have a term of six months from the date of publication of this Decree, to convert such shares into a single series of shares, without requiring the agreement of the shareholders' meeting, as well as to carry out the respective exchange in accordance with the following:

I. The exchange will be formalized at the request of the investment company to the securities depository institution where the shares being exchanged are deposited;

II. The shares resulting from the exchange must represent the same participation in the paid-in capital as the shares exchanged;

III.It will not be considered that there is a transfer of shares, for purposes of the Income Tax Law, as long as the exchange referred to in this article does not imply a change of the owner of the shares; and

IV. For purposes of the preceding paragraph, the average cost of the shares resulting from the exchange will be that which corresponds to the shares exchanged.

FOURTH. Investment companies, investment company operators and previously authorized appraisal companies must comply with the provisions of this Decree, once it becomes effective.

Investment companies that, upon the entry into force of this Decree, make amendments to their prospectuses for the information of the investing public, in order to comply with the provisions of Article 9 of the Investment Companies Law issued by this Decree, may disclose such amendments through their operating company or the persons that provide them with share distribution services and through the mass media, without the need to comply with any other formality.

FIFTH. Until the National Banking and Securities Commission issues the general provisions referred to in the Investment Companies Law issued by this Decree, those issued prior to the entry into force of this Decree will continue to apply.

SIXTH. The appointments of directors, general manager and executives with the hierarchy immediately below the latter, of investment companies and operators of investment companies, which as of the date of publication in the Official Gazette of the Federation of this Decree, are in the process of approval by the Board of Directors of the National Banking and Securities Commission, will be subject to the provisions of Article 61 of the Investment Companies Law issued by this Decree, and such companies will have a term of thirty business days as of said date to inform the Commission that they have carried out the verification referred to in said article.

Mexico City, April 28, 2001. Enrique Jackson Ramírez , Chairman.- Deputy Ricardo Francisco García Cervantes , Chairman.- Senator Yolanda González Hernández , Secretary.- Deputy Manuel Medellín Milán , Secretary.- Signatures " .

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the residence of the Federal Executive Power, in Mexico City, Federal District, on the thirty-first day of May of the year two thousand and one.- Vicente Fox Quesada .- Rubric.- The Secretary of the Interior, Santiago Creel Miranda .- Rubric.

DECREE amending, repealing and adding various provisions of the General Law of Credit Instruments and Operations, General Law of Credit Organizations and Auxiliary Activities, Law of Credit Institutions, General Law of Mutual Insurance Institutions and Companies, Federal Law of Bonding Institutions, Law to Regulate Financial Groups, Law of Savings and Popular Credit, Law of Foreign Investment, Income Tax Law, Value Added Tax Law and the Federal Tax Code.

Published in the Diario Oficial de la Federación on July 18, 2006.

ARTICLE EIGHT.- Subsections i), j) and k) of Section III of Article 7 of the Foreign Investment Law are hereby repealed to read as follows:

.........

TRANSITIONS

FIRST.- They shall enter into force the day following the publication of this Decree in the Official Gazette of the Federation:

I. Article One of this Decree;

II. The amendments to Articles 4, 7 and 95 Bis, as well as the identification of the Sole Chapter of Title Five and the additions to Title Five with Chapter II, which includes Articles 87-B to 87-Ñ, and Article 89 of the General Law of Credit Organizations and Auxiliary Activities, contained in Article Two of this Decree;

III. The amendments to Articles 46 and 89, as well as the addition of Article 73 Bis of the Law of Credit Institutions, contained in Article Three of this Decree; and

IV. The Ninth, Tenth and Eleventh Articles of this Decree.

As of the effective date referred to in this article, financial leasing and financial factoring transactions will not be considered reserved for financial leasing companies and financial factoring companies, so that any person may enter into them as lessor or factoring company, respectively, without the authorization of the Ministry of Finance and Public Credit referred to in article 5 of the General Law of Credit Organizations and Auxiliary Activities.

Limited purpose financial companies may continue to act as trustees in the trusts referred to in Article 395 of the General Law of Credit Instruments and Operations until the authorizations granted to them by the Ministry of Finance and Public Credit, in terms of Section IV of Article 103 of the Law of Credit Institutions, are terminated, unless they adopt the form of multiple purpose financial company, in which case they may continue to perform their fiduciary duties.

SECOND.- Persons who, as of the effective date of the provisions referred to in the first transitory article of this Decree, carry out financial leasing and financial factoring transactions, in their capacity as lessor or factoring company, respectively, without having the authorization of the Ministry of Finance and Public Credit referred to in article 5 of the General Law of Credit Organizations and Auxiliary Activities, will be subject to the provisions applicable to such transactions of the General Law of Credit Instruments and Transactions. The regime that the General Law of Credit Organizations and Auxiliary Activities provides for financial leasing companies and factoring companies will not be applicable to such persons.

In the financial leasing and financial factoring contracts entered into by the persons referred to in this article, they must expressly state that they do not have the authorization of the Ministry of Finance and Public Credit provided for in article 5 of the General Law of Credit Organizations and Auxiliary Activities and that, except in the case of regulated multiple purpose financial companies, they are not subject to the supervision of the National Banking and Securities Commission. The same mention must be made in any type of information used by the aforementioned persons for the purpose of promoting their services.

THIRD. The amendments to Articles 5, 8, 40, 45 Bis 3, 47, 48, 48, 48-A, 48-B, 78, 96, 97, 98 and 99, as well as the repeal of Articles 3 and 48 and of Chapter II of Title Two, which includes Articles 24 to 38, of Chapter II Bis of Title Two, which includes Articles 45-A to 45-T, of the General Law of Credit Organizations and Auxiliary Activities contained in Article Two of this Decree, will become effective seven years after the publication of this Decree in the Official Gazette of the Federation.

As of the effective date of the amendments and repeals mentioned in the preceding paragraph, the authorizations granted by the Ministry of Finance and Public Credit for the incorporation and operation of financial leasing companies and financial factoring companies will become null and void by operation of law, and therefore the companies that have such status will cease to be auxiliary credit organizations.

The companies referred to in the preceding paragraph shall not be obliged to dissolve and liquidate themselves due to the fact that, in accordance with the provisions of the preceding paragraph, the respective authorizations become null and void, although, in order to continue operating, they must:

I. Reform their bylaws in order to eliminate any express reference or any reference from which it may be inferred that they are auxiliary credit organizations and that they are authorized by the Ministry of Finance and Public Credit to be incorporated and operate as such.

II. Submit to the Ministry of Finance and Public Credit, no later than the date on which the amendments and repeals referred to in the first paragraph of this article become effective, the public instrument containing the statutory amendment referred to in the preceding section, with the respective registration data in the Public Registry of Commerce.

Companies that do not comply with the provisions of Section II above will enter, by operation of law, into a state of dissolution and liquidation, without the need for a resolution of the general shareholders' meeting.

The Ministry of Finance and Public Credit, regardless of whether or not the requirements set forth in the preceding sections have been met, will publish in the Official Gazette of the Federation that the authorizations referred to in this article have become null and void.

The entry into effect of the amendments and repeal referred to in this transitory article will not affect the existence and validity of the contracts that, prior to such entry into effect, were entered into by those companies that were financial leasing and financial factoring companies, nor will it be a cause for ratification or validation of such contracts. Notwithstanding the foregoing, as of the effective date indicated in this article, the leasing and financial factoring contracts referred to in this paragraph will be governed by the correlative provisions of the General Law of Credit Instruments and Operations.

In financial leasing and financial factoring contracts entered into by the companies after the date on which, pursuant to the provisions of this article, the respective authorizations granted to them by the Ministry of Finance and Public Credit are terminated, they must expressly state that they are not authorized by the Ministry of Finance and Public Credit and that, except in the case of regulated multiple purpose financial companies, they are not subject to the supervision of the National Banking and Securities Commission. The same mention must be made in any type of information used by the aforementioned companies to promote their services.

FOURTH: The Ministry of Finance and Public Credit will only process authorization requests for the incorporation and operation of financial leasing companies and financial factoring companies, in terms of the provisions of the General Law of Credit Organizations and Auxiliary Activities, that have been submitted prior to the date on which this Decree is published in the Official Gazette of the Federation. The authorizations granted, if any, will only be in effect until the seventh anniversary of the date of publication of this Decree in the Official Gazette of the Federation and will be subject to the provisions of the preceding article.

FIFTH.- The amendments, additions and repeals to Articles 45-A, 45-B, 45-D, 45-I, 45-K, 45-N, 49, 85 BIS, 103, 108, 115 and 116 of the Law of Credit Institutions contained in Article Three of this Decree will become effective seven years after the publication of this Decree in the Official Gazette of the Federation.

As of the effective date of the amendments and repeals mentioned in the previous paragraph, the authorizations granted by the Ministry of Finance and Public Credit, in terms of Article 103, Section IV, of the Law of Credit Institutions, to limited purpose financial companies, shall be null and void by operation of law, without the obligation to dissolve and liquidate, although, in order to continue operating, they must:

I. Amend their bylaws to eliminate any express reference or any reference from which it may be inferred that they are limited purpose financial companies and that they are authorized by the Ministry of Finance and Public Credit to do so.

The entry into effect of the amendments, additions and repeals to the articles of the Law of Credit Institutions mentioned in this transitory article will not affect the existence and validity of the contracts that, prior to the same, the companies that had the character of limited purpose financial companies have subscribed, nor will it be a cause for ratification or validation of such contracts.

In the credit agreements entered into by the companies after the date on which, pursuant to the provisions of this article, the respective authorizations granted to them by the Ministry of Finance and Public Credit become null and void, they must expressly state that they are not authorized by the Ministry of Finance and Public Credit. The same mention must be made in any type of information used by the aforementioned companies for the purpose of promoting their services.

SIXTH.- The Ministry of Finance and Public Credit will only process those applications which, in order to obtain the authorization referred to in Article 103, Section IV, of the Law of Credit Institutions and in terms of the provisions of the same law, have been submitted prior to the date on which this Decree is published in the Official Gazette of the Federation. The authorizations granted, if any, will only be in effect until the date of the seventh anniversary of the publication of this Decree in the Official Gazette of the Federation and will be subject to the provisions of the preceding article.

SEVENTH.- Financial leasing companies, financial factoring companies and limited purpose financial companies that, prior to the date seven years after the publication of this Decree in the Official Gazette of the Federation, intend to enter into financial leasing, financial factoring and credit granting operations without being subject to the regime of the General Law of Credit Organizations and Auxiliary Activities and the Law of Credit Institutions that, as the case may be, are applicable to them, must:

I. Agree at a shareholders' meeting that financial leasing, financial factoring and credit operations carried out by such companies as lessor, factoring or crediting companies will be subject to the regime of the General Law of Credit Instruments and Operations and, if applicable, to that of multiple purpose financial companies provided for in the General Law of Credit Organizations and Auxiliary Activities;

II. Amend their bylaws to eliminate, as the case may be, any express reference or any reference from which it may be inferred that they are credit auxiliary organizations or limited purpose financial companies; that they are authorized by the Ministry of Finance and Public Credit; that, unless they fall under the penultimate paragraph of Article 87-B of the General Law of Credit Auxiliary Organizations and Activities, they are subject to the supervision of the National Banking and Securities Commission and that their organization, functioning and operation are governed by said Law or by the Law of Credit Institutions; and

III. Submit to the Ministry of Finance and Public Credit the public instrument evidencing the holding of the shareholders' meeting referred to in Section I and the amendment of the bylaws referred to in Section II above, with the information of the respective registration in the Public Registry of Commerce.

The authorization granted by the Ministry of Finance and Public Credit, as the case may be, for the incorporation, operation, organization and functioning of the financial leasing company, financial factoring company or limited purpose financial company in question, will be without effect as of the day following the date on which the amendment of the bylaws mentioned in section II of this article is recorded in the Public Registry of Commerce, without the company having to enter into a state of dissolution and liquidation. The Ministry of Finance and Public Credit will publish in the Official Gazette of the Federation that the authorization has become null and void.

Contracts entered into by financial leasing companies, financial factoring companies or limited purpose financial companies prior to the date on which, in accordance with the provisions of this article, the aforementioned authorizations become null and void, shall not be affected in their existence or validity nor shall they have to be ratified or validated for such reason.

In the financial leasing, financial factoring and credit agreements that the companies referred to in this article enter into after the date on which the authorization of the Ministry of Finance and Public Credit has been terminated, they must expressly state that they are not authorized by the Ministry of Finance and Public Credit and that, except in the case of regulated multiple purpose financial companies, they are not subject to the supervision of the National Banking and Securities Commission. The same mention must be made in any type of information used by the companies mentioned in the first paragraph of this article for the purpose of promoting their services.

EIGHTH.- Until the authorizations granted by the Ministry of Finance and Public Credit are terminated or revoked, financial leasing companies, factoring companies and limited purpose financial companies will continue to be subject, as applicable, to the regime of the General Law of Credit Organizations and Auxiliary Activities, the Law of Credit Institutions and other provisions applicable thereto, as well as other provisions issued by the Ministry to preserve the liquidity, solvency and stability of the aforementioned entities.

Articles Four and Five of this Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Article Sixth of this Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Financial leasing companies, financial factoring companies and limited purpose financial companies whose voting shares representing at least fifty-one percent of their capital stock are owned by controlling companies of financial groups prior to the date seven years after the publication of this Decree in the Official Gazette of the Federation, will be considered as members of such financial groups as long as the authorization granted by the Ministry of Finance and Public Credit to such entities to be incorporated, operate, organize and function, as the case may be, with such character remains in force. In this case, the Law to Regulate Financial Groups will continue to be applicable.

In the event that, in accordance with the provisions of this Decree, financial leasing companies, financial factoring companies and limited purpose financial companies referred to in the preceding paragraph adopt the form of multiple purpose financial companies and the voting shares representing at least fifty-one percent of their capital stock remain under the ownership of the controlling company in question, such companies will be considered as members of the respective financial group in terms of article 7 of the Law to Regulate Financial Groupings, as amended by this Decree, Such companies will be considered as members of the respective financial group in terms of Article 7 of the Law to Regulate Financial Groupings, as amended by this Decree, provided that the corresponding amendments to the bylaws of the controlling company are registered in the Public Registry of Commerce, the liability agreement referred to in Article 28 of the same Law is amended and the Ministry of Finance and Public Credit approves the amendment to the authorization granted to the financial group in question to be incorporated and operate as such. The responsibilities of the controlling company will subsist as long as all the obligations contracted by the companies that cease to be financial leasing companies, financial factoring companies and limited purpose financial companies, prior to the aforementioned registration, are not fully complied with.

Articles Seven and Eight of this Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

TWELFTH - Credit institutions and brokerage firms that are owners of shares representing the capital stock of financial leasing companies and financial factoring companies, whose authorization has been terminated by virtue of this Decree, may keep such shares as long as such companies adopt the character of multiple purpose financial companies.

Credit institutions that are owners of shares representing the capital stock of limited purpose financial companies, whose authorization has been terminated by virtue of this Decree, may keep such shares as long as such companies adopt the character of multiple purpose financial companies.

THIRTEENTH.- Conciliation and arbitration proceedings under the Law for the Protection and Defense of Users of Financial Services, which as of the date of publication of this Decree are pending resolution, will continue to be governed by said Law, until their conclusion.

FOURTEENTH.- With respect to savings and loan companies, the transitory regime provided for in the Decree amending, adding and repealing various provisions of the Law of Savings and Popular Credit published in the Official Gazette of the Federation on January 27, 2003, as well as in the Decree amending and adding various provisions of the Law of Savings and Popular Credit published in the same Gazette on May 27, 2005, will apply to such companies.

FIFTEENTH.- Multiple purpose financial companies are considered rural financial intermediaries for the purposes of the Organic Law of the Financiera Rural.

SIXTEENTH.- After the effective date of this Decree, the Ministry of Finance and Public Credit may authorize broad corporate purposes that include all the credit operations of Article 46 of the Law of Credit Institutions, leasing and financial factoring to the Limited Purpose Financial Companies that so request and maintain the regulation of the Ministry itself and of the National Banking and Securities Commission, as well as the corresponding denomination.

For these purposes, the Ministry of Finance and Public Credit may grant authorization for the transformation to Sociedad Financiera de Objeto Limitado to leasing and financial factoring companies that request it, which will continue to be regulated.

The regulation and the authorization granted in accordance with the preceding paragraphs will become null and void by operation of law three years after the date of entry into force of this Decree and the companies that have obtained such authorization as of this date will be subject to the provisions of the third and fifth transitory articles of this Decree.

Marcela González Salas P. , President.- Sen. Enrique Jackson Ramírez, President. Enrique Jackson Ramírez , Chairman.- Dip. Ma . Sara Rocha Medina , Secretary.- Sen. Sara I. Castellanos Cortés , Secretary.- Rubrics. "

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the twelfth day of July of the year two thousand and six.

DECREE enacting the Law of Credit Unions and adding and amending the Law of Credit Instruments and Operations.

Published in the Diario Oficial de la Federación on August 20, 2008.

TRANSITIONS

First.- This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Second: Chapter III of Title Two of the General Law of Credit Organizations and Auxiliary Activities, published in the Official Gazette of the Federation on January 14, 1985, is hereby repealed, as well as all references in said Law to credit unions.

Credit unions authorized to operate as such under the provisions that are repealed shall be deemed authorized to operate under the terms of this Decree.

Credit unions authorized to operate as such prior to the entry into force of this Decree may only admit new members that comply with the characteristic established in the first paragraph of Article 21 of Article One of this Decree. Likewise, they will not be able to renew the operations they have agreed with members who do not prove the aforementioned characteristic.

Third: Until the National Banking and Securities Commission issues the general provisions referred to in this Law, those issued prior to the effective date of this Law will continue to apply in the corresponding matters, insofar as they do not oppose this Decree. When the provisions referred to in this article are issued, the provisions that they replace or are repealed will be expressly indicated.

Notwithstanding the foregoing, as of the effective date of this Decree, the Agreement determining the minimum capital requirements for general deposit warehouses, financial leasing companies, credit unions, financial factoring companies and exchange houses for 2008, published in the Official Gazette of the Federation on March 31, 2008, is repealed in all matters related to credit unions.

Fourth: Credit Unions will have a term of two years as from the entry into force of this Decree to comply with the provisions referred to in Articles 61 and 62 of the Credit Union Law.

Fifth: The authorizations granted to credit unions and other administrative acts carried out on the basis of the General Law of Credit Organizations and Auxiliary Credit Activities, which in accordance with the provisions of this Decree correspond to the National Banking and Securities Commission, will continue in force until, if applicable, they are revoked or their terms are expressly modified by said Commission or they cease to produce their effects.

Sixth: The infractions and crimes committed prior to the date of entry into force of this Decree shall be punished in accordance with the law in force at the time of the commission of such infractions or crimes.

In administrative proceedings that are in process, the interested party may opt for their continuation in accordance with the procedure in force at the time of their initiation or for the application of the provisions applicable to the administrative proceedings provided for in this Decree.

Seventh: Credit unions will have one hundred and eighty days from the entry into force of this Decree to submit to the National Banking and Securities Commission, for its approval, their bylaws in order to adjust their operation to the provisions of the Decree.

Eighth: Upon the entry into force of this Decree, all credit unions that have been authorized to operate as such under the terms of the General Law of Credit Organizations and Auxiliary Activities will be classified as level I operations.

Credit unions may request the National Banking and Securities Commission to authorize a change in the level of operations upon compliance with the requirements referred to in Articles 39 and 43 of Article One of this Decree.

Ninth: The credit unions that at the entry into force of this Decree do not comply with the minimum capital set forth in Article 18 of the First Article of this Decree for level I operations, will have a term of five years to integrate the minimum capital referred to.

Once the aforementioned term has elapsed, the authorizations granted by the National Banking and Securities Commission for the incorporation and operation of credit unions that do not have a minimum capital equivalent in Mexican pesos to the value of 2,000,000 investment units, will be null and void by operation of law, and therefore the companies that have such character will cease to be credit unions.

I. Amend their bylaws to eliminate any express reference or any reference from which it may be inferred that they are credit unions and that they are authorized by the National Banking and Securities Commission to incorporate and operate as such.

II. Submit to the National Banking and Securities Commission, not later than one hundred eighty calendar days, the public instrument evidencing the amendment of the bylaws referred to in the preceding section, with the information of the respective registration in the Public Registry of Commerce.

The National Banking and Securities Commission will publish in the Official Gazette of the Federation those authorizations that, in accordance with this article, become null and void.

Section IV of Article 6 of the Foreign Investment Law is hereby repealed.

Mexico City, April 30, 2008 - Sen. Santiago Creel Miranda , Chairman - Deputy Ruth Zavaleta Salgado , Chairman - Sen. Gabino Cué Monteagudo , Secretary - Deputy Ma. Mercedes Maciel Ortiz , Secretary - Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the nineteenth day of August, two thousand eight.- Felipe de Jesús Calderón Hinojosa .- Rubric.- The Secretary of the Interior, Juan Camilo Mouriño Terrazo .- Rubric.

DECREE enacting the Migration Law and amending, repealing and adding various provisions of the General Population Law, the Federal Criminal Code, the Federal Code of Criminal Procedures, the Federal Law against Organized Crime, the Federal Police Law, the Law of Religious Associations and Public Worship, the Foreign Investment Law, and the General Tourism Law.

Published in the Official Gazette of the Federation on May 25, 2011.

ARTICLE EIGHTH. Articles 3 and 33, section I, paragraph d) of the Foreign Investment Law are amended to read as follows:

..........

TRANSITIONAL PROVISIONS OF THE DECREE ENACTING THE MIGRATION LAW AND AMENDING, REPEALING AND ADDING VARIOUS PROVISIONS OF THE GENERAL POPULATION LAW, THE FEDERAL CRIMINAL CODE, THE FEDERAL CODE OF CRIMINAL PROCEDURE, THE FEDERAL LAW AGAINST ORGANIZED CRIME, THE FEDERAL POLICE LAW, THE LAW ON RELIGIOUS ASSOCIATIONS AND PUBLIC WORSHIP, THE FOREIGN INVESTMENT LAW AND THE GENERAL TOURISM LAW.

FIRST. This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

SECOND: The amendments to the General Population Law shall enter into force on the day following their publication in the Official Gazette of the Federation, except for the repeals to Sections VII and VIII of Article 3 and Articles 7 to 75, which shall enter into force until the Regulations of the Immigration Law are in force.

The amendments to the Law of Religious Associations and Public Worship, the Foreign Investment Law and the General Law of Tourism will enter into force until the Regulations of the Immigration Law are in force.

THIRD. The references that in other laws and other legal provisions are made to the General Population Law regarding migratory matters, shall be understood to refer to the Immigration Law.

FOURTH. The resolutions issued by the immigration authority during the validity of the provisions of the General Population Law that are repealed, shall have full legal effect.

Mexico City, April 29, 2011.- Sen. Manlio Fabio Beltrones Rivera , Chairman.- Deputy Jorge Carlos Ramírez Marín , Chairman.- Sen. Renan Cleominio Zoreda Novelo , Secretary.- Deputy María Dolores Del Río Sánchez , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on May twenty-fourth, two thousand eleven.- Felipe de Jesús Calderón Hinojosa .- Rubric.- The Secretary of the Interior, José Francisco Blake Mora .- Rubric.

DECREE amending, adding and repealing several provisions of the Foreign Investment Law, the General Law of Commercial Companies, the Organic Law of the Federal Public Administration, the Federal Law of Rights, the Federal Law of Administrative Procedure and the Federal Law for the Promotion of Microindustry and Artisan Activity.

Published in the Official Gazette of the Federation on December 15, 2011.

ARTICLE ONE.- Articles 15, 16 first paragraph and 16A of the Foreign Investment Law are amended to read as follows:

..........

TRANSITIONS

FIRST.- This Decree shall enter into force on the first day of January 2012 with respect to the General Law of Mercantile Corporations, the Organic Law of the Federal Public Administration, the Federal Law of Rights and the Federal Law for the Promotion of Microindustry and Artisan Activity.

SECOND.- The amendments to the Foreign Investment Law and to the Federal Law of Administrative Procedure will enter into force six months after their publication in the Official Gazette of the Federation.

Emilio Chuayffet Chemor , Chairman.- Sen. José González Morfín , Chairman.- Sen. Heron Escobar Garcia , Secretary.- Sen. Adrián Rivera Pérez, Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the twelfth day of December of the year two thousand and eleven.

DECREE amending several Federal Laws, with the purpose of updating all those articles that refer to the Secretaries of State whose names were modified and to the Government of the Federal District, as well as eliminating the mention of the administrative departments that are no longer in effect.

Published in the Official Gazette of the Federation on April 9, 2012.

ARTICLE NINTH. Article 2, Section V of the Foreign Investment Law is amended to read as follows:

..........

TRANSITIONS

First. This decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Second. As of the date on which this Decree enters into force, the provisions that contravene or oppose this Decree are hereby repealed.

Guadalupe Acosta Naranjo , Chairman.- Sen. José González Morfín , Chairman.- Sen. Laura Arizmendi Campos , Secretary.- Sen. Renán Cleominio Zoreda Novelo , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the thirtieth day of March of the year two thousand and twelve.

DECREE amending, adding and repealing several provisions on financial matters and enacting the Law to Regulate Financial Groupings.

Published in the Official Gazette of the Federation on January 10, 2014.

ARTICLE FOURTEENTH. Subsections e), f), g), h), i) and o) of section III of Article 7, as well as sections VI, VII and VIII of Article 8 of the Foreign Investment Law are hereby repealed to read as follows:

..........

Transitory Provisions

ARTICLE FIFTY-FIFTH: With respect to the amendments referred to in Articles Forty-First to Forty-Ninth of this Decree, the following shall apply:

I. Article Forty-Third, which shall enter into force thirty calendar days following the publication of this Decree, and

II. Article Forty-Seventh, which shall enter into force seven hundred and thirty calendar days following the publication of the Decree issuing the Law of Insurance and Bonding Institutions and amending and adding various provisions of the Law on the Insurance Contract, published on April 4, 2013 in the aforementioned Official Gazette.

III. Infractions and offenses committed prior to the date of entry into force of this Decree shall be punished in accordance with the law in force at the time the said infractions or offenses were committed.

In administrative proceedings that are in process, the interested party may opt for their continuation in accordance with the procedure in force during their initiation or for the application of the provisions applicable to the administrative proceedings stipulated by this Decree.

IV. The obligation to have the certification referred to in Article 4, Section X, of the Law of the National Banking and Securities Commission, will become effective as of January 1, 2015. The general provisions referred to in said precept will be issued by the Commission no later than September 2014.

.........

TRANSITORY

This Decree shall enter into effect on the day following its publication in the Official Gazette of the Federation, except for the provisions of ARTICLES TWENTY FIFTH, Section I; THIRTY FIFTH, Sections IV and VI; FOURTEENTH, Sections I and II and FIFTY FIFTH, Sections I and II, which shall enter into effect on the dates set forth in said provisions.

Ricardo Anaya Cortes , Chairman.- Sen. Raúl Cervantes Andrade , Chairman.- Sen. Javier Orozco Gomez , Secretary.- Sen. María Elena Barrera Tapia , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the ninth day of January of the year two thousand fourteen .

DECREE enacting the Federal Telecommunications and Broadcasting Law and the Law of the Public Broadcasting System of the Mexican State; and amending, adding and repealing several provisions on telecommunications and broadcasting.

Published in the Official Journal of the Federation on July 14, 2014.

ARTICLE TWO.- Subsection x) of section III of article 7 is amended; and section III of article 6 and section IX of article 8 of the Foreign Investment Law are repealed, to read as follows:

.........

TRANSITIONS

FIRST. This Decree shall enter into force thirty calendar days following its publication in the Official Gazette of the Federation, without prejudice to the provisions of the following transitory provisions.

SECOND: The Federal Telecommunications Law and the Federal Radio and Television Law are hereby repealed. Those provisions of the General Communications Law that oppose the provisions of the Federal Telecommunications and Broadcasting Law issued by virtue of this Decree are hereby repealed.

THIRD. The regulatory and administrative provisions and the Mexican official standards in force shall continue to apply until such time as new regulations are issued to replace them, except for those that oppose the Federal Telecommunications and Broadcasting Law that is issued by virtue of this Decree.

FOURTH. The Federal Telecommunications Institute shall adapt its organic statute to the Federal Telecommunications and Broadcasting Law within sixty calendar days following the entry into force of this Decree.

FIFTH. The Federal Executive shall issue, within one hundred and eighty calendar days following the issuance of this Decree, the regulatory provisions and guidelines on content established in the Federal Telecommunications and Broadcasting Law issued by virtue of this Decree.

Broadcasting and restricted television or audio concessionaires may not promote video games that have not been classified in accordance with the applicable regulations, which shall be issued by the Federal Executive within the term referred to in the preceding paragraph.

SIXTH. The attention, processing and resolution of the matters and procedures that have been initiated prior to the entry into force of this Decree, will be carried out under the terms established in the Seventh Transitory Article of the Decree that amends and adds various provisions of Articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States in matters of telecommunications, published in the Official Gazette of the Federation on June 11, 2013. The foregoing without prejudice to the provisions of the Twentieth Transitory Article of this Decree.

SEVENTH. Without prejudice to the provisions of the Federal Telecommunications and Broadcasting Law issued by virtue of the Decree, the law and the regulations issued for such purpose by the Federal Telecommunications Institute, the concessions and permits granted prior to the entry into force of this Decree, will be maintained under the terms and conditions set forth in the respective titles or permits until their termination, unless authorization is obtained to provide additional services to those that are the object of its concession or it has transitioned to the single concession provided for in the Federal Telecommunications and Broadcasting Law, in which case, it will be subject to the terms and conditions established by the Federal Telecommunications Institute.

In the case of radio spectrum concessions, the term of the concession, the authorized coverage and the number of Megahertz granted may not be modified, nor may the conditions to do or not to do set forth in the original concession title and which were determinant for the granting of the concession be modified.

Requests for extension of sound broadcasting concessions filed prior to the date of termination of the original term established in the corresponding titles will be resolved in terms of the provisions of Article 114 of the Federal Telecommunications and Broadcasting Law, without the term established for the extension request in question being applicable.

Paragraph added DOF 15-06-2018

EIGHTH. Except as provided in the Tenth and Eleventh Transitory Articles of this Decree, the current concessionaires may obtain authorization from the Federal Telecommunications Institute to provide additional services to those that are the object of their concession or to transition to the single concession, provided that they are in compliance with the obligations set forth in the laws and in their concession titles. Concessionaires that hold radio spectrum concessions must pay the corresponding considerations in terms of the Federal Telecommunications and Broadcasting Law.

Concessionaires who have several concession titles, in addition to being able to transition to a single concession, may consolidate their titles into a single concession.

NINTH. As long as there is a preponderant economic agent in the telecommunications and broadcasting sectors, in order to promote competition and develop viable competitors in the long term, mergers between economic agents holding concessions, as well as concession assignments and changes of control deriving therefrom, which meet the following requirements, shall not require the authorization of the Federal Telecommunications Institute:

a. Generate a sectorial reduction of the Dominance Index "ID", provided that the Hirschman-Herfindahl index "HHI" does not increase by more than two hundred points;

b. Result in the economic agent having a percentage of sectorial participation of less than twenty percent;

c. That the preponderant economic agent in the sector in which the concentration is carried out does not participate in such concentration, and

d. Do not have the effect of diminishing, damaging or impeding free competition and concurrence in the corresponding sector.

Hirschman-Herfindahl Index "HHI" means the sum of the squares of the shares of each economic agent (HHI= Σ i qi2), in the corresponding sector, measured in the case of the telecommunications sector based on the indicator of number of subscribers and users of telecommunications services, and in the case of the broadcasting sector based on audience. This index can take values between zero and ten thousand.

To calculate the Dominance Index "DI", first determine the percentage contribution hi of each economic agent to the HHI index defined in the previous paragraph (hi = 100xqi2/IHH). Then the value of ID will be calculated by applying the Hirschman-Herfindahl formula, but now using hi contributions instead of qi shares (i.e. ID= Σ i hi2). This index also varies between zero and ten thousand.

The economic agents must submit to the Federal Telecommunications Institute, within 10 days following the concentration, a written notice containing the information referred to in Article 89 of the Federal Law of Economic Competition referring to the corresponding sector as well as the elements of conviction that demonstrate that the concentration complies with the preceding paragraphs.

The Institute shall investigate such concentrations within a term not to exceed ninety calendar days and if it finds that there is substantial power in the telecommunications network market that provides voice, data or video services or in the radio and television market, depending on the corresponding sector, it may impose the necessary measures to protect and promote free competition and concurrence in such market, in accordance with the provisions of the Federal Telecommunications and Broadcasting Law and the Federal Economic Competition Law, without prejudice to the concentrations referred to in this article.

The measures imposed by the Institute will be terminated once the preponderant economic agents are authorized to provide additional services.

TENTH. The preponderant economic agents and the concessionaires whose concession titles contain any prohibition or express restriction to provide certain services, prior to the beginning of the procedure to obtain the authorization to provide additional services, will accredit before the Federal Telecommunications Institute and the latter will supervise the effective compliance with the obligations set forth in the Decree by which several provisions of Articles 6o, 7o., 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013, of the Telecommunications and Broadcasting Law, as well as of the Federal Economic Competition Law, their concession titles and applicable administrative provisions, in accordance with the following:

I. The preponderant economic agents must prove before the Federal Telecommunications Institute that they are in effective compliance with the above and with the measures issued by the Federal Telecommunications Institute itself referred to in sections III and IV of the Eighth Transitory Article of the above-mentioned Decree. For such purpose, the Federal Telecommunications Institute will establish the form and terms for submitting the respective information and documentation;

II. The preponderant economic agent must be in effective compliance with the measures referred to in section I above for at least eighteen months continuously;

III. Once the term referred to in the preceding section has elapsed and provided that it continues to comply with the provisions of the preceding section I, the Federal Telecommunications Institute shall issue a ruling certifying that the obligations referred to have been effectively complied with; and

IV. Once the concessionaire has obtained the certification of compliance, it may apply to the Federal Telecommunications Institute for authorization of the additional service.

The provisions of this article shall also apply in the event that the respective agents and concessionaires opt to transition to the single concession.

The provisions of this Article will not be applicable after five years from the entry into force of the Federal Telecommunications and Broadcasting Law, provided that the preponderant economic agent in the telecommunications sector is in compliance with the Eighth Transitory Article of this Decree, the measures that have been imposed in accordance with the provisions of sections III and IV of the Eighth Transitory Article of the Decree amending and adding various provisions of Articles 6, 7, 27, 73, 78, 94 and 105 of the Mexican Constitution, regarding telecommunications, published in the Official Gazette of the Federation on June 2013, and those that have been imposed in accordance with the provisions of Articles 6, 7, 27, 73, 78, 94 and 105 of the Mexican Constitution, published in the Official Gazette of the Federation on June 2013, 7o., 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, in matters of telecommunications, published in the Official Gazette of the Federation on June 11, 2013, and those imposed on it by the Federal Telecommunications Institute under the terms of the Federal Telecommunications and Broadcasting Law.

Eleventh. The processing of the request referred to in the preceding article shall be subject to the following:

I. Preponderant economic agents and concessionaires whose concession titles contain any express prohibition or restriction to provide certain services, must comply with the provisions of the guidelines of the Federal Telecommunications Institute in terms of the Fourth Transitory Article of the Decree amending and adding various provisions of Articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Constitution regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013;

II. When submitting the application, such agents and concessionaires shall accompany the compliance report referred to in section III of the preceding article, submit the information determined by the Federal Telecommunications Institute with respect to the services they intend to provide;

III. The Federal Telecommunications Institute will decide on the merits of the request within sixty calendar days following its submission, based on the general guidelines issued for such purpose, and will determine the appropriate consideration.

If the period indicated in the preceding paragraph has elapsed without the Institute having resolved the corresponding request, the same shall be deemed to be negative, and

IV. In processing the application, the Federal Telecommunications Institute shall ensure that the granting of the authorization does not generate adverse effects on competition and free competition.

Adverse effects on competition and free competition, among other factors considered by the Federal Telecommunications Institute, shall be deemed to be generated when:

a. Such authorization may have the effect of increasing the participation in the corresponding sector of the preponderant economic agent or of the economic interest group to which the concessionaires whose concession titles contain any prohibition or restriction to provide certain services belong, with respect to the participation determined by the Federal Telecommunications Institute in the resolution by which it was declared preponderant economic agent in the corresponding sector.

b. The authorization of additional services has the effect of conferring substantial power in the relevant market to any of the concessionaires or members of the preponderant economic agent or concessionaires whose concession titles contain any prohibition or restriction to provide certain services in the corresponding sector.

The provisions of this article shall be applicable in the event that the respective agents and concessionaires choose to transition to the single concession, and shall be independent of the economic sanctions that may apply pursuant to the Federal Telecommunications and Broadcasting Law.

TWELFTH. The preponderant economic agent in the telecommunications sector may opt at any time for the scheme set forth in Article 276 of the Federal Telecommunications and Broadcasting Law or exercise the right set forth in this Article.

The preponderant economic agent in the telecommunications sector may submit to the Federal Telecommunications Institute a plan based on a real, concrete situation and with respect to specific persons, which includes, as applicable, the structural separation, the total or partial disincorporation of assets, rights, social parts or shares or any combination of the above options in order to reduce its national participation below fifty percent of the telecommunications sector referred to in section III of the Eighth Transitory Article of the Decree amending and adding various provisions of Articles 6, 7, 27, 73, 78, 94 and 105 of the Mexican Constitution, regarding telecommunications, published in the Official Gazette of the Federation on June, 2013, 7o., 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013, in accordance with the variables and measurement parameters used by the Federal Telecommunications Institute in the corresponding preponderance declaration, and provided that with the execution of such plan effective competition conditions are generated in the markets comprising such sector in accordance with the Federal Economic Competition Law. In the event that the preponderant economic agent exercises this option, the following will apply:

I. When submitting the plan referred to in the preceding paragraph, the preponderant economic agent shall state in writing that it adheres to the provisions of this article and that it accepts its terms and conditions; it shall also accompany the necessary information and documentation that will allow the Federal Telecommunications Institute to know and analyze the proposed plan;

II. In the event that the Federal Telecommunications Institute considers that the information submitted is insufficient, within 20 business days following the submission of the plan, it will warn the preponderant economic agent to submit the missing information within 20 business days. In the event that the preponderant economic agent does not comply with the prevention within the term indicated or that in the opinion of the Institute the documentation or information submitted is not sufficient or suitable for analyzing the proposed plan, a second prevention may be made in the terms indicated above and in the event that it does not comply with this last prevention the plan will be considered not submitted, without prejudice that the economic agent may submit a new plan proposal under the terms of this article;

III. Once the prevention has been dealt with in the terms formulated, the Federal Telecommunications Institute will analyze, evaluate and, if applicable, approve the proposed plan within the following one hundred and twenty calendar days. If the Institute deems it necessary, it may extend said term up to two times and for up to ninety calendar days each.

In order to approve such plan, the Federal Telecommunications Institute must determine that it effectively reduces the national participation of the preponderant economic agent below fifty percent in the telecommunications sector referred to in section III of the Eighth Transitory Article of the Decree referred to above, that it generates conditions of effective competition in the markets comprising such sector under the terms of the Federal Economic Competition Law and that it does not have the purpose or effect of affecting or reducing the existing social coverage.

The plan must have as a result that the participation in the sector that the preponderant agent decreases, is transferred to another or other economic agents different and independent from the preponderant economic agent. When approving the plan, the Federal Telecommunications Institute must ensure the effective separation and independence of such agents and must establish the necessary terms and conditions so that such situation is duly safeguarded;

IV. In the event that the Federal Telecommunications Institute approves the plan, the preponderant economic agent in the telecommunications sector will have a term of up to ten business days to state that it accepts the plan and expressly consents to the rates derived from the application of paragraphs a) and b) of the second paragraph of article 131 of the Federal Telecommunications and Broadcasting Law, and sections VI to VIII of this article.

Once the plan is accepted by the preponderant economic agent, it may not be modified and must be executed in its terms, without such agent being able to exercise again the benefit granted by this article and without prejudice to the possibility of opting for the provisions of article 276 of the Federal Telecommunications and Broadcasting Law;

V. The plan shall be executed during the 365 calendar days after it has been accepted in terms of Section IV. The economic agents involved in the plan shall report with the periodicity established by the Federal Telecommunications Institute on the process of execution of the plan. In the event that the preponderant economic agent proves that the lack of compliance with the plan within the referred term is due to causes that are not attributable to it, it may request an extension from the Federal Telecommunications Institute, which may be granted for a term of up to 120 calendar days, on a single occasion and provided that such causes are duly justified;

VI. From the date on which the preponderant economic agent in the telecommunications sector has accepted the plan and during the term referred to in the preceding section, the reciprocal traffic compensation agreements referred to in the first paragraph of Article 131 of the Federal Telecommunications and Broadcasting Law will be provisionally applied between the preponderant economic agent in the telecommunications sector and the other licensees, and the rates derived from the application of paragraphs a) and b) of the second paragraph of said article will be suspended between them;

VII. The Federal Telecommunications Institute shall certify that the plan has been effectively executed within the term indicated in Section V of this Article. For such purpose, within 5 business days following the end of the execution term or, as the case may be, at the end of the corresponding extension, the Federal Telecommunications Institute shall initiate the studies that demonstrate that its execution generated conditions of effective competition in the markets that make up the telecommunications sector, in accordance with the Federal Economic Competition Law.

Once the certification referred to in the preceding paragraph has been granted, the traffic compensation agreements referred to in the first paragraph of Article 131 of the aforementioned Law shall apply generally to all concessionaires;

VIII. In the event that the plan is not executed within the term referred to in Section V or, as the case may be, at the end of the corresponding extension, or the Federal Telecommunications Institute denies the certification referred to in the preceding section or determines that the plan was not fully complied with under the terms approved, the reciprocal traffic compensation agreements and the suspension of the tariffs referred to in Article 131(a) and (b) of the Federal Telecommunications and Broadcasting Law will be rendered null and void, the reciprocal traffic compensation agreements and the suspension of the tariffs referred to in paragraphs a) and b) of Article 131 of the Federal Telecommunications and Broadcasting Law, between the preponderant economic agent in the telecommunications sector and the other concessionaires, will cease to have effect, and their application will go back to the date on which the suspension began, and said agent will have to reimburse the other concessionaires the amounts that correspond to the application of the aforementioned tariffs. In this case, the aforementioned concessionaires may offset the amounts to be reimbursed against other amounts owed to the preponderant economic agent;

IX. The Federal Telecommunications Institute will authorize the economic agent that proposed the plan and the resulting economic agents or those that are part of such plan, the rendering of additional services to those that are the object of its concession or its transition to the single concession model, as soon as it certifies that the plan has been effectively executed and provided that the execution of such plan generates effective competition conditions in the markets that make up the telecommunications sector in accordance with the Federal Economic Competition Law;

X. Once the Federal Telecommunications Institute certifies that the approved plan has been effectively executed, it will proceed to extinguish:

a. The resolutions by which it has determined the economic agent as preponderant in the telecommunications sector as well as the asymmetric measures it has imposed in terms of the provisions of sections III and IV of Article Eight of the Decree referred to above, and

b. The resolutions by means of which it has determined the economic agent with substantial power in any market, as well as the specific measures it has imposed.

THIRTEENTH. The Federal Executive through the Ministry of Communications and Transportation, will carry out the actions tending to install the shared public telecommunications network referred to in the Sixteenth transitory article of the Decree reforming and adding various provisions of articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, in matters of telecommunications, published in the Official Gazette of the Federation on June 11, 2013.

In the event that the Federal Executive Branch requires frequency bands of the spectrum freed by the transition to Digital Terrestrial Television (700 MHz band) to grow and strengthen the shared network mentioned in the preceding paragraph, the Federal Telecommunications Institute will grant them directly, provided that such network remains under the control of a public entity or agency or under a public-private partnership scheme.

FOURTEENTH. The Federal Telecommunications Institute shall implement a professional service system within one hundred and eighty calendar days following the entry into force of this Decree, which shall contain, among other aspects, the recognition of the rights of the workers of the Federal Telecommunications Commission who are certified as professional service workers.

FIFTEENTH. The Federal Telecommunications Institute shall install its Advisory Council within one hundred and eighty calendar days following the entry into force of this Decree.

SIXTEENTH. The Ministry of Communications and Transportation shall establish the mechanisms to carry out the coordination provided for in Article 9, Section V of the Federal Telecommunications and Broadcasting Law, within one hundred and eighty calendar days following the entry into force of this Decree.

SEVENTEENTH. The broadcasting permits that are in force or in the process of renewal at the entry into force of this Decree, must be transferred to the corresponding concession regime within the year following the entry into force of the Federal Telecommunications and Broadcasting Law, under the terms established by the Institute. The permits that have been granted to the powers of the Union, of the states, the government bodies of the Federal District, the municipalities, the autonomous constitutional bodies and public institutions of higher education must be transferred to the concession regime for public use, while the rest of the permits granted must be transferred to the concession regime for social use.

In order to transition to the corresponding concession regime, permit holders must submit a request to the Federal Telecommunications Institute, which will make the appropriate decision within ninety business days.

Pending the transition, such permits will be governed by the provisions of the Federal Telecommunications and Broadcasting Law for public or social use concessions, as the case may be.

In case of non-compliance with this article, the permits shall be terminated.

EIGHTEENTH. The Federal Telecommunications Institute shall issue within one hundred and eighty days following the entry into force of the Federal Telecommunications and Broadcasting Law, the work program to reorganize the radio electric spectrum to radio and television stations referred to in paragraph b) of section V of transitory Article Seventeen of the Decree reforming and adding various provisions of Articles 6o, 7o., 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013. In determining the work program, the Institute will seek the development of the relevant radio market, the migration of the largest possible number of concessionaire stations from the AM to FM band, the strengthening of competition conditions and the continuity in the provision of services.

NINETEENTH. The digital terrestrial transition will be completed on December 31, 2015.

The Federal Executive, through the Ministry of Communications and Transportation, will implement the programs and actions related to the policy of transition to digital terrestrial television, for the delivery or distribution of receiving equipment or decoders referred to in the third paragraph of the Fifth transitory article of the Decree reforming and adding various provisions of articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, in matters of telecommunications, published in the Official Gazette of the Federation on June 11, 2013.

The Federal Telecommunications Institute shall conclude the transmission of analog broadcast television signals throughout the country no later than December 31, 2015, once a penetration level of ninety percent of low-income households defined by the Ministry of Social Development with receivers or decoders capable of receiving digital broadcast television signals is reached.

For the foregoing, the Federal Telecommunications Institute shall terminate the analog broadcast television signals in advance to December 31, 2015, by area of coverage of such signals, once the penetration level referred to in the preceding paragraph is reached in the corresponding area.

The Ministry of Communications and Transportation and the Federal Telecommunications Institute will conduct dissemination campaigns for the delivery or distribution of equipment and for the conclusion of the transmission of analog television signals, respectively.

The concessionaires and permit holders of broadcast television will be obliged to make all the necessary investments and installations to transition to digital terrestrial television no later than December 31, 2015. The Federal Telecommunications Institute will oversee the due compliance with the aforementioned obligation.

Those permit holders or concessionaires of public or social use, including community and indigenous, that provide broadcasting service that are not in conditions to start digital transmissions on December 31, 2015, must, prior to that date, give notice to the Federal Telecommunications Institute, under the terms set forth in Article 157 of the Federal Telecommunications and Broadcasting Law in order to authorize the temporary suspension of their transmissions or, as the case may be, reduce their apparent radiated power so that the continuity program referred to in the following paragraph of this Article may be applicable to them. The terms authorized by the Institute shall in no case exceed December 31, 2016.

Paragraph added DOF 18-12-2015

In the event that by the dates of early termination of analog broadcast television signals by coverage area or that by December 31, 2015, the current broadcast television stations with an effective radiated power less than or equal to 1 kW for VHF channels and 10 kW for UHF channels are not transmitting digital terrestrial television signals and/or the penetration level indicated in the third and fourth paragraphs of this article has not been reached, either in any region, locality or in the whole country, the Federal Telecommunications Institute shall establish a program for the population to continue receiving this public service of general interest in the respective areas, until digital transmissions begin and/or the penetration levels indicated in this article have been reached; the Federal Telecommunications Institute shall establish a program for the population to continue receiving this public service of general interest in the respective areas, until digital transmissions are initiated and/or the penetration levels indicated in this article are reached. The owners of the stations shall carry out the necessary investments and installations in accordance with the terms set forth in the program. In no case will the actions derived from this program exceed December 31, 2016.

Amended paragraph DOF 18-12-2015

Any legal, administrative or regulatory provisions that are in conflict with this transitory provision are hereby repealed.

TWENTY EIGHTH. The Federal Telecommunications Institute will apply Article 131 of the Federal Telecommunications and Broadcasting Law and other applicable provisions regarding interconnection in terms of the same, and will guarantee due compliance with the obligations established in said precepts, which will be enforceable without prejudice and independent of the fact that upon the entry into force of the Law, The existence of a preponderant economic agent has already been determined and the necessary measures have been imposed to avoid affecting competition and free concurrence in accordance with section III of the Eighth Transitory Article of the Decree amending and adding several provisions of Articles 6, 7 and 8 of the Law., 7o., 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013.

For purposes of the provisions of paragraph b) of Article 131 of the Federal Telecommunications and Broadcasting Law, and until such time as the licensees referred to in that paragraph do not agree on the corresponding interconnection rates or, if applicable, the Institute does not resolve any dispute regarding such rates, the rates currently in effect will remain in effect, except in the case of the economic agent referred to in the second paragraph of Article 131 of the Law, to which paragraph a) of the same article will be applicable.

TWENTY-FIRST. For the attention, promotion and supervision of the rights of users provided for in the Federal Telecommunications and Broadcasting Law and in the Federal Consumer Protection Law, PROFECO shall create a specialized area at a level no lower than Deputy Attorney General, as well as the necessary structure for such purpose, in accordance with the budget approved by the Chamber of Deputies for such purpose.

TWENTY SECOND. The Federal Telecommunications Institute shall issue the general administrative provisions referred to in Title Eight of the Federal Telecommunications and Broadcasting Law within a maximum period of ninety calendar days from the entry into force of this Decree.

TWENTY-THIRD. The budgetary impact generated as a result of the entry into force of this Decree in the area of personal services, as well as the establishment of new powers and activities of the Federal Telecommunications Institute, will be covered by the budget approved annually by the Chamber of Deputies for said agency.

TWENTY FOURTH. Pursuant to the provisions of the Fifteenth, Sixteenth and Seventeenth transitory Articles Fifteenth, Sixteenth and Seventeenth of the Decree amending and adding various provisions of Articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, in matters of telecommunications, published in the Official Gazette of the Federation on June 11, 2013, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, published in the Official Gazette of the Federation on June 11, 2013, the last paragraph of Article 14 of the Federal Revenue Law for the Fiscal Year 2014 is repealed.

TWENTY FIFTH. The provisions of Section V of Article 118 of the Federal Telecommunications and Broadcasting Law shall enter into force on January 1, 2015, so that as of such date the licensees of public telecommunications networks that provide fixed or mobile services, or both, may not charge domestic long distance charges to their users for calls made to any domestic destination.

Notwithstanding the foregoing, concessionaires must consolidate all local service areas existing in the country in accordance with the guidelines issued for such purpose by the Federal Telecommunications Institute. Each licensee must assume the costs arising from such consolidation.

Likewise, the Federal Telecommunications Institute, within one hundred and eighty days following the entry into force of this Decree, shall define the interconnection points to the public telecommunications network of the preponderant economic agent or agent with substantial power.

The administrative resolutions that may have been issued shall be null and void insofar as they oppose the provisions of this transitory provision.

Concessionaires will maintain the numbering assigned to them in order to use it for intelligent network services in its reverse charge modalities and other special services, such as 900 numbers.

TWENTY SIXTH. The Federal Executive shall submit to the Senate of the Republic or, as the case may be, to the Permanent Commission, the proposal for the appointment of the President of the Public Broadcasting System of the Mexican State, within thirty calendar days following the entry into force of this Decree.

The Senate or, as the case may be, the Permanent Commission, shall appoint the President of the System within thirty calendar days following the date on which it receives the proposal from the Federal Executive.

TWENTY SEVENTH. The representatives of the Secretaries of State that make up the Governing Board of the Public System of the Mexican State must be appointed within sixty calendar days following the entry into force of this Decree.

TWENTY-EIGHTH. The appointment of the members of the Citizen Council of the Public Broadcasting System of the Mexican State shall be made within sixty calendar days following the entry into force of this Decree.

TWENTY-NINTH. The President of the Public Broadcasting System of the Mexican State shall submit to the Board of Directors, for its approval, the draft Organic Statutes, within ninety calendar days following his appointment.

THIRTY. As of the entry into force of this Decree, the decentralized agency called Organismo Promotor de Medios Audiovisuales, is transformed into the Sistema Público de Radiodifusión del Estado Mexicano, which will have the human, budgetary, financial and material resources of the aforementioned agency.

Pending the issuance of the Organic Statute of the Public Broadcasting System of the Mexican State, the Organic Statute of the Organismo Promotor de Medios Audiovisuales will continue to apply, insofar as it does not oppose the Law of the Public Broadcasting System of the Mexican State.

The labor rights of the staff of the Audiovisual Promotion Agency shall be respected in accordance with the law.

THIRTY-FIRST. The human, budgetary, financial and material resources of the Organismo Promotor de Medios Audiovisuales will become part of the Sistema Público de Radiodifusión del Estado Mexicano once its President is appointed, without detriment to the labor rights of its workers.

THIRTY SECOND. The Ministry of the Interior shall coordinate with the corresponding authorities for the exercise of the monitoring powers established in the Federal Telecommunications and Broadcasting Law.

The Chamber of Deputies shall allocate the necessary resources to guarantee the adequate exercise of the powers referred to in this transitory provision.

THIRTY THIRD. The Federal Telecommunications Institute will issue the guidelines referred to in Section III of Article 158 of the Federal Telecommunications and Broadcasting Law, within a term not to exceed 180 calendar days from the day following the entry into force of this Decree.

THIRTY-FOURTH. The Chamber of Deputies shall allocate to the Mexican State Public Broadcasting System economic resources in accordance with its objectives and functions, for which it shall consider:

I. Your growth plans;

II. Its operating expenses, and

III. Its financial equilibrium.

THIRTY FIFTH. With the exception of the provisions of the Twentieth Transitory Article, by which the Federal Telecommunications Institute is obliged to apply Article 131 of the Federal Telecommunications and Broadcasting Law issued by virtue of this Decree and others that may be applicable in interconnection matters in terms of the same, the administrative resolutions that the Federal Telecommunications Institute had issued prior to the entry into force of this Decree in matters of preponderance will continue to have all their effects.

THIRTY SIXTH. The Federal Telecommunications Institute, within 180 days after the entry into force of this Decree, shall carry out the corresponding studies to analyze whether it is necessary to establish mechanisms to promote and encourage licensees to include a programmatic bar aimed at children in which culture, sports, environmental conservation, respect for human rights, the best interests of the child, gender equality and non-discrimination are promoted.

THIRTY SEVENTH. For the purposes of the law enforcement authorities referred to in Section I of Article 190 of the Federal Telecommunications and Broadcasting Law, the provisions of the Federal Telecommunications Law regarding real-time geographic location shall remain in force until such time as the National Code of Criminal Procedures enters into force.

THIRTY EIGHTH. The Federal Telecommunications Institute shall issue, within sixty working days following the entry into force of the Federal Telecommunications and Broadcasting Law, the necessary administrative rules to eliminate requirements that may delay or prevent number portability and, if applicable, promote the use of electronic means.

The rules referred to in the preceding paragraph shall guarantee effective portability and that it is carried out within a term not to exceed 24 hours as from the request made by the holder of the respective number.

In order to carry out such transfer, it will only be necessary to identify the holder and the user's will. In the case of legal entities, the procedure must be carried out by the legal representative or attorney-in-fact who accredits his or her personality in terms of the applicable regulations.

THIRTY-NINTH. For the purposes of the provisions of Article 264 of the Federal Telecommunications and Broadcasting Law, the Federal Telecommunications Institute will initiate, without prejudice to the provisions of the Ninth Transitory Article of this Decree, within thirty calendar days after its entry into force, the corresponding investigation procedures in terms of the Federal Economic Competition Law, in order to determine the existence of economic agents with substantial power in any of the relevant markets of the telecommunications and broadcasting sectors, among which shall be included the national market of audio and associated video through public telecommunications networks and, if applicable, impose the corresponding measures.

FOURTH. The preponderant economic agent in the telecommunications sector or the agent with substantial power in the relevant market will be obliged to comply with the provisions of Articles 138, Section VIII, 208 and Sections V and VI of Article 267 of the Federal Telecommunications and Broadcasting Law, as of its entry into force.

FOURTY-FIRST. Public higher education institutions, which at the date of entry into force of this Decree, have broadcasting media referred to in Articles 67 section II and 76 section II of the Federal Telecommunications and Broadcasting Law, will not receive additional budget for that purpose.

FORTY-SECOND. The concession to install, operate and exploit a public telecommunications network which, pursuant to the terms of the Fifteenth Transitory Article of the Decree reforming and adding various provisions of Articles 6, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications, must be assigned by the Federal Electricity Commission to Telecomunicaciones de México, will not be subject to the provisions of Articles 140 and 144 of the Federal Telecommunications and Broadcasting Law, exclusively with respect to those contracts in force on the date of publication of this Decree which have been executed by the Federal Telecommunications and Broadcasting Law, the provisions of Articles 140 and 144 of the Federal Telecommunications and Broadcasting Law will not be applicable to it, exclusively with respect to those contracts in force as of the date of publication of this Decree that have been entered into between the Federal Electricity Commission and those individuals or legal entities that, in accordance with the same Law, are to be considered as end users.

Such contracts will be assigned by the Comisión Federal de Electricidad to Telecomunicaciones de México, together with the corresponding concession title. Telecomunicaciones de México will assign such contracts to other concessionaires authorized to provide services to end users within six months from the date on which they were assigned.

In the event that there is a technical, legal or economic impediment for Telecomunicaciones de México to assign the aforementioned agreements, they will remain in effect until the date indicated therein for their termination at the latest, and may not be renewed or extended for new periods.

FORTY-THIRD. Within a term not to exceed 36 months from the entry into force of this Decree, the signals of commercial concessionaires that transmit broadcast television and that cover more than fifty percent of the national territory must have Mexican sign language or hidden captioning in the national language, in the programming they transmit from 6:00 a.m. to midnight, excluding advertising and other cases established by the Federal Telecommunications Institute, in accordance with international best practices. Federal public entities that are concessionaires of public use of broadcast television will be subject to the same obligation.

FOURTY FOURTH. In relation to the obligations established in terms of accessibility for persons with disabilities referred to in the Federal Telecommunications and Broadcasting Law for audience advocates, the concessionaires will have a period of up to ninety calendar days from the entry into force of this Decree to initiate the corresponding adjustments and mechanisms.

FOURTY FIFTH. The restriction to access the infrastructure sharing of the preponderant economic agent in broadcasting, provided in section VII of Article 266 of the Federal Law of Telecommunications and Broadcasting, will not be applicable to the licensee or licensees resulting from the bidding of the new digital open television channels referred to in section II of the Eighth Transitory Article of the Decree by which several provisions of Articles 6, 7, 27, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States regarding telecommunications are reformed and added, 7, 27, 28, 73, 78, 94 and 105 of the Political Constitution of the United Mexican States, regarding telecommunications.

Mexico City, July 8, 2014.- Sen. Raúl Cervantes Andrade , Chairman.- Dip. José González Morfín , Chairman.- Sen. María Elena Barrera Tapia , Secretary.- Dip. Angelina Carreño Mijares , Secretary.- Rubrics ".

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the fourteenth day of July of the year two thousand and fourteen.

DECREE enacting the Hydrocarbons Law and amending several provisions of the Foreign Investment Law, the Mining Law and the Public-Private Partnerships Law.

Published in the Official Gazette of the Federation on August 11, 2014.

ARTICLE TWO. Articles 5, Sections I and III are amended and Section II of Article 5, Section II of Article 6 and Sections X and XI of Article 8 of the Foreign Investment Law are repealed, to read as follows:

..........

TRANSITIONS

FIRST. This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

SECOND: The Chamber of Deputies shall make the necessary budgetary provisions so that the agencies and entities may comply with the powers conferred by this Decree.

Mexico City, August 5, 2014.- Deputy José González Morfín , Chairman.- Senator Raúl Cervantes Andrade , Chairman.- Deputy Javier Orozco Gómez , Secretary.- Senator Lilia Guadalupe Merodio Reza, Secretary.- Signatures. Lilia Guadalupe Merodio Reza , Secretary.- Rubrics. "

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on August eleventh, two thousand fourteen, of the year two thousand fourteen, by Enrique Peña Nieto .

DECREE amending the Nineteenth Transitory Article of the Decree enacting the Federal Telecommunications and Broadcasting Law, and the Law of the Public Broadcasting System of the Mexican State; and amending, adding and repealing various provisions on telecommunications and broadcasting, published on July 14, 2014.

Published in the Official Gazette of the Federation on December 18, 2015.

SOLE ARTICLE. A seventh paragraph is hereby added, the subsequent paragraphs are deleted and the current seventh paragraph of the Nineteenth Transitory Article of the "DECREE BY WHICH THE FEDERAL TELECOMMUNICATIONS AND BROADCASTING LAW AND THE LAW OF THE PUBLIC BROADCASTING SYSTEM OF THE STATE OF MEXICO ARE ENACTED; AND AMENDING, ADDING AND REPEALING VARIOUS PROVISIONS IN THE MATTER OF TELECOMMUNICATIONS AND BROADCASTING", PUBLISHED IN THE OFFICIAL JOURNAL OF THE FEDERATION ON JULY 14, 2014, to read as follows:

..........

Transitory

First. This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Second. With the entry into force of this Decree, all legal, regulatory and administrative provisions that oppose it are repealed.

Third. From the beginning of the pre-campaigns and until the day of Election Day, the Federal Government and the governments of the federal entities and municipalities will suspend the distribution or replacement of receiving equipment or decoders, as well as the delivery programs of digital televisions in those federal entities in which electoral processes will take place during 2016. The National Electoral Institute will verify compliance with this provision and will apply, if applicable, the corresponding sanctions. The delivery, distribution or replacement of receiving equipment, decoders, or digital televisions in contravention of the provisions of this article will be sanctioned in terms of the General Law of Electoral Institutions and Procedures.

Mexico City, December 9, 2015.- Sen. Roberto Gil Zuarth , Chairman.- Dip. José de Jesús Zambrano Grijalva , Chairman.- Sen. Rosa Adriana Díaz Lizama , Secretary.- Dip. Alejandra Noemí Reynoso Sánchez , Secretary.- Rubrics. "

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, Federal District, on the sixteenth day of December of the year two thousand fifteen.- Enrique Peña Nieto .- Rubric.- The Secretary of the Interior, Miguel Ángel Osorio Chong .- Rubric.

DECREE adding a paragraph y) to Section III of Article 7 and repealing Section II of Article 7 of the Foreign Investment Law.

Published in the Official Journal of the Federation on June 26, 2017.

Sole Article.- A subsection y) is added to section III of article 7, and section II of article 7 of the Foreign Investment Law is repealed, to read as follows:

..........

Transitory

Sole Paragraph: This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Mexico City, April 27, 2017.- Dip. María Guadalupe Murguía Gutiérrez , President.- Sen. Pablo Escudero Morales , President.- Dip. María Eugenia Ocampo Bedolla , Secretary.- Sen. Rosa Adriana Díaz Lizama , Secretary.- Rubrics. "

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, on the twenty-first day of June, two thousand seventeen.- Enrique Peña Nieto .- Rubric.- The Secretary of the Interior, Miguel Ángel Osorio Chong .- Rubric.

DECREE adding a third paragraph to the Seventh Transitory Article of the "Decree enacting the Federal Telecommunications and Broadcasting Law, and the Law of the Public Broadcasting System of the Mexican State; and amending, adding and repealing various provisions on telecommunications and broadcasting", published in the Official Gazette of the Federation on July 14, 2014.

Published in the Official Journal of the Federation on June 15, 2018.

Sole Article.- A third paragraph is added to the Seventh Transitory Article of the "Decree issuing the Federal Telecommunications and Broadcasting Law, and the Law of the Public Broadcasting System of the Mexican State; and reforming, adding and repealing various provisions on telecommunications and broadcasting", published in the Official Gazette of the Federation on July 14, 2014, to read as follows:

.........

Transitory

First.- This Decree shall enter into force on the day following its publication in the Official Gazette of the Federation.

Second.- The provisions of the third paragraph of the Seventh Transitory Article of the "Decree issuing the Federal Telecommunications and Broadcasting Law, and the Law of the Public Broadcasting System of the Mexican State; and reforming, adding and repealing various provisions on telecommunications and broadcasting", published in the Official Gazette of the Federation on July 14, 2014, which is added, shall only apply to extension requests submitted prior to the entry into force of this Decree.

Mexico City, April 26, 2018.- Sen. Ernesto Cordero Arroyo , Chairman.- Deputy Edgar Romo García , Chairman.- Sen. Juan Gerardo Flores Ramírez , Secretary.- Deputy Mariana Arámbula Meléndez , Secretary.- Rubrics. "

In compliance with the provisions of Section I of Article 89 of the Political Constitution of the United Mexican States, and for its due publication and observance, I hereby issue this Decree in the Residence of the Federal Executive Power, in Mexico City, on the thirteenth day of June, two thousand eighteen.- Enrique Peña Nieto .- Rubric.- The Secretary of the Interior, Dr. Jesús Alfonso Navarrete Prida .- Rubric.

from