Decree 1821 of 31 December 2020 of the National Planning Department.

Whereby the Sole Regulatory Decree of the General Royalties System is issued.

part 1. investment of the resources of the general system of royalties

chapter 1. resources of the general system of royalties

chapter 1. expenditure allocations of the general royalty system

Article 1.1.1.1.1.1. Resources of the General System of Royalties. In accordance with the provisions of Articles 331, 360 and 361 of the Political Constitution and Law 2056 of 2020, the resources of the General System of Royalties may only be used for the following purposes:
1. The financing of investment projects in their different stages, as long as the horizon of realisation is defined in the same, previously feasible and registered in the Bank of Investment Projects of the General Royalties System, approved by the respective entity or competent body, charged to the Direct Allocations, Allocation for Local Investment, Allocation for Regional Investment, Allocation for Science, Technology and Innovation, Environmental Allocation, the Allocation for Peace, the incentive for production, exploration and formalisation and the surpluses from territorial pension savings credited to the FONPET. In any case, investment projects may not finance current expenses, understood as recurrent expenses of a permanent nature. Once the investment stage is completed, the provision of the service must be sustainable and financed with resources other than the General Rebate System.
2. The financing of the functions of the bodies in charge of the functioning, operation and administration of the System, the evaluation and monitoring of the environmental licensing of exploration and exploitation projects, the supervision of exploration and exploitation of deposits, knowledge and geological mapping of the subsoil, and incentives for exploration and production.
3. The financing of monitoring, evaluation and control functions.
4. Savings for pension liabilities and savings for investment stabilisation.

 

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DECRETO-1821-DEL-31-DE-DICIEMBRE-DE-2020.pdf