Legal instrument sets forth new obligations within the foreign currency administration scheme currently operating in Venezuela

LEGAL FORUM / Foreign Exchange Law -- This legal instrument sets forth new obligations within the foreign currency administration scheme that is currently operating in the country. Get to know, in this new edition, the details of this law’s application, in effect since January 27th, 2008. Caracas, February 20, 2008.- February 13th, 2008.- December 28th, 2007, published in Extraordinary Official Gazette Number 5.867, appears the “Foreign Exchange Law”. This law, which was sanctioned by the National Assembly, states some corrections to the previous law (2005) and establishes new obligations within the foreign currency administration scheme that is currently operating in the country.