EXPROPIATION
Law 26,761
Determine public utility and subject to expropriation to the South American Securities Company S.A.
Sanctioned: August 22, 2012
Promulgated: August 28, 2012 The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:
ARTICLE 1 — Determine public utility and subject to expropriation to the South American Securities Company S.A.
The process of expropriation shall be governed by the provisions of Act No. 21.499 and shall act as expropriating the body designated by the national executive branch.
ARTICLE 2 — The price of assets subject to expropriation shall be determined as provided for in article 10 and as concordants of law 21.499, and the National Taxation Court shall effect the valuation of such assets.
ARTICLE 3 — The sum that should eventually be paid in compliance with the expropriation process will be paid — up to the corresponding amount if it exceeds that of the taxation — with the debt that Company of South American Values S.A. registers with the Federal Public Income Administration (AFIP), an agency operating in the Ministry of Public Economy and Finance.
ARTICLE 4° — Once the process of expropriation has ended, the whole of the goods will become part of the patrimony of the Society of the State House of Currency.
ARTICLE 5° — The S.A. South American Securities Company staff will be transferred to the State Society of the Coin House, retaining all the acquired labour rights, the union membership they currently possess and the validity of their Collective Labour Convention; governed in their working relations by the Labour Contract Act 20,744 (t. 1976) and its amendments.
ARTICLE 6 — In order to ensure the continuity of the activities carried out by the company, the maintenance of labour sources and the safeguarding of its goods, the national executive branch through the agency which designates, in the terms of articles 57 and 59 of Law 21.499, shall exercise from the time of entry into force of this Law all the rights conferred upon it by the ownership of such property.
ARTICLE 7 — This law is of public order and will enter into force from its publication in the Official Gazette.
ARTICLE 8 — Let the National Court of First Instance know in Commercial No. 8 the content of this measure, with certified copy aggregation.
ARTICLE 9 - Contact the national executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE TWENTY DAYS OF THE MONTH OF AUGUST OF THE YEAR DOS MIL DOCE.
— REGISTRATION BAJO #26,761 —
LOVE BOUDOU. - JULIAN A. DOMINGUEZ. - Gervasio Bozzano. — Juan H. Estrada.
