Assignment of the right to state funding

Subject to the restrictions stipulated in this Article and in this Act, political parties can, through their higher executive committees, completely or partly assign the amounts of state funding determined in Article 96 of the Political Constitution to which they are entitled.

All assignments must be effected by means of certificates of one or more securities exchangeable in the National Treasury for the bonds issued by the State to fund political parties. The aforementioned certificates shall indicate the total amount of the issue, which shall be notified to the Political Parties Funding Department. When there are several issues, each one shall include the appropriate serial number, its amount and that of previous ones. With respect to payment, the first issue shall take precedence over the second and so on until the last issue. The notification to the Political Parties Financing Department shall not imply any liability whatsoever for the State if the assigned right is wholly or partially non-existent.

The Department shall make information about reported issues available to the public.

Given that they are redeemable financial expenses, political parties shall be entitled to liquidate the discounts that they decide to apply for the placement on the market of their certificates issued as assignments of eventual rights with discounts being the difference between the nominal value of the certificate and the price at which it shall be sold. The maximum discount rate recognized by the State shall be up to fifteen percent (15%).