HYDROCARBONS Law 26.659 establishment conditions for exploration and exploitation of hydrocarbons in the Continental platform of Argentina. Adopted: 16 March 2011 fact promulgated: 12 April 2011 the Senate and Chamber of deputies of the Argentina nation gathered in Congress, etc. they attest to the force of law: article 1. º - the exploration and exploitation of hydrocarbons in the Continental platform of Argentina may be made only observing the conditions laid down by this law, the laws and regulations in force.
Article 2º - is prohibited any person physical or legal, national or foreign, who perform or is authorized to carry out activities in the Republic of Argentina and its shareholders to: 1. develop hydrocarbon activities on the Continental platform of Argentina without having obtained the relevant qualification issued by competent authority in argentina; 2. have direct or indirect participation in legal, national or foreign, people who develop hydrocarbon activities in the Continental platform of Argentina without having obtained the relevant qualification issued by competent Argentine authority, or who provide services to these developments; 3 hire and/or carry out activities hydrocarbon, transactions, acts of trade, economic, financial, logistical, technical, operations, consulting and/or counseling activities, whether for payment or free, with natural persons or legal, national or foreign, so that they develop hydrocarbon activities on the Continental platform of Argentina without having obtained the relevant qualification issued by competent Argentine authority.
Article 3º - the enforcement authority will proceed prior administrative process, to disable for the term of five (5) to twenty (20) years to physical or legal, national or foreign, persons who do not comply with the provisions of article 2 of this law, without prejudice to the criminal sanctions which could correspond. In the case of own hydrocarbon concessions, they will revert to the State or provincial governments, according to the geographical area in which they are.
Article 4. - the disqualification will be registered in national, provincial records and of the city of Buenos Aires. Also be an immediate end to the exemptions, tax or social security facilities that might have been granted, causing the terms granted and the immediate enforceability of the balances that I might owe.
https://www.boletinoficial.gob.ar/pdf/linkQR/c1ZGRlFxTlc1Z015VC9wRXlpb01lUT09 article 5 - national State, provincial and municipal governments may not contract with individuals or legal, national or foreign, its subsidiaries or shareholders who directly or indirectly develop hydrocarbon activities in the Argentina Continental platform, without having obtained permits to carry out activities of exploration and exploitation of hydrocarbons emitted by the competent Argentine authority.
Article 6. - it is authority for the application of this Act the Secretary of energy, dependent on the Ministry of Federal Planning, public investment and services or the body designated by the national executive power. The implementing authority provide a roster of public character of physical or legal, national or foreign, people who develop hydrocarbon activities in the Continental Argentina platform that do not meet the qualifications for hydrocarbon emitted by the competent Argentine Authority activities.
Article 7th - this law shall become effective from ninety (90) days from its publication in the Official Gazette.
Article 8º - the national executive power will dictate the regulation of this law within a maximum period of sixty (60) days from its publication in the Official Gazette.
Article 9º - all the provisions of this law are established without prejudice to the rights and competences of the province of Tierra del Fuego, Antarctica and South Atlantic Islands, as well as other provinces.
ARTICLE 10. -This law is of public order.
ARTICLE 11. -Communicate to the national executive power. GIVEN IN THE CHAMBER OF THE CONGRESO ARGENTINO, BUENOS AIRES, SIXTEEN DAYS AFTER THE MONTH OF MARCH OF THE YEAR TWO THOUSAND ELEVEN. -REGISTERED UNDER NO. 26.659 - JULIO C. C. COBOS. -EDUARDO A. FELLNER. -Enrique Hidalgo. -John H. Estrada.
Date of publication: 13/04/2011 https://www.boletinoficial.gob.ar/pdf/linkQR/c1ZGRlFxTlc1Z015VC9wRXlpb01lUT09