Sept. 20 (Bloomberg) -- Ecuadorean President Rafael Correa said today he would resign if voters turn down a new constitution in a Sept. 28 referendum.

Should the constitution fail to win approval from more than half the voters, former officials and governing bodies -- including a suspended congress -- would be reinstated, he said today in his weekly radio and television broadcast.

``I would then have to resign,'' Correa said. Previously, he said that he would serve out the remaining two years of his four-year term.

If approved, the constitution would allow him to be re- elected for a second consecutive term and extend government control over key industries including oil, telecommunications and transportation. Opinion polls published before a Sept. 9 cutoff date showed a majority supported the new charter, with as many as 35 percent still undecided.

Voting in Ecuador is compulsory for people who can read and write. There are 10 million voters in the South American country.

To contact the reporter on this story: Stephan Kueffner in Quito at skueffner@bloomberg.net

Last Updated: September 20, 2008 14:03 EDT