A year later than scheduled, the Chilean government has finally sent a draft law for Military Procurement Funding to the parliament.rnThe new legislation will replace the Copper Law, which allocates 10 per cent of sales by the state-owned CODELCO mining holding to finance military equipment acquisitions.rnA commission including the Defence Ministry, the Treasury and the military services worked on the project between 2006 and 2008, agreeing on a draft expected at the time to be sent to the Chilean parliament in November 2008. However, President Ms Michelle Bachelet was convinced by the Treasury to make changes to the draft, delaying it until now, sources in Santiago told Jane's.
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