Advanced Search

Public Emergency And Reform Of The Anti-Government Regimen - Full Text Of The Norm


Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
PUBLIC EMERGENCY AND REFORM OF THE CHANGE REGIME Act No. 25.587. Please note that only the precautionary measure governed by article 230 of the Code of Civil and Commercial Procedure of the Nation shall be admissible in the judicial proceedings in which the national State is requested, financial, insurance or mutual entities, on the basis of credits, debts, obligations, deposits or financial reschedulings that may be deemed to be affected by the provisions of Act No. 25.561, regulations and additional dangers, if there is any Watch.

Sanctioned: April 25, 2002.

Promulgated: April 25, 2002.

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

ARTICLE 1 In the judicial proceedings of any nature in which the national State, entities that are members of the financial, insurance or mutual assistance system are requested on the basis of the credits, debts, obligations, deposits or financial rescheduling that may be considered to be affected by the provisions contained in Act No. 25.561 and its regulations and supplements, only the precautionary measure governed by article 230 of the Code of Civil and Commercial Procedure is admissible if there exists

In no case may the precautionary measures available have the same object as the persecuted in respect of what should be the subject of the final judgment of the case, nor shall it be the surrender, under any title, to the petitioner of the goods subject of the precaution.

Except as provided in the preceding paragraph are those cases, which prove that there are sufficient grounds for risking the life, health, or physical integrity of persons, or when the claimant is a natural person of seventy-five (75) or older years of age.

This provision, of public order, shall apply to all cases in progress and shall also be complied with to all the precautionary measures that are pending, regardless of the date of the court order.

(Note Infoleg: The time limit of CIENTO VEINTE (120) working days is suspended for the performance and execution of all the precautionary measures and final judgements issued in the judicial proceedings referred to in this article, which shall be executed as provided in the reference decree, to see cases of exception and procedure, by art. 1 Decree No. 1316/2002 B.O. 24/7/2002. Watch: since publication in Official Gazette.) ARTICLE 2 The precautionary measures set out in the previous article may in no case be executed on the funds of the Central Bank of the Argentine Republic, although they are for transitional or operative reasons in the possession of the financial entities. Article 3 For the purposes of compliance with any precautionary measure, the Central Bank of the Argentine Republic must be made available to the Central Bank, for the purpose of reporting on the existence and legitimacy of the imposition made before the financial entity, the existing balances at the date of the report in the petitioner ' s account, as well as the amount and deposit currency originally agreed. ARTICLE 4 The precautionary measures referred to in article 1 of this Act shall be appealed with suspensive effect to the Federal Appeals Chamber which is the court of the High Court. They are exempted from this effect, in cases where it is proved that there is sufficient reason to endanger the life, health or physical integrity of the person or when the claimant is a natural person of seventy-five (75) years or older. Such a remedy shall be submitted to the court within five (5) days, after the person concerned takes notice of the decision granted by the interim measure.

The basis of the appeal shall be expressed in the same written statement. They are entitled to lodge both the respondent, the actor and the banking or financial entities affected by the precautionary measure, although they do not review that character.

ARTICLE 5o The appeal referred to in the previous article shall be limited by the Magistrate ' s Court to refer the case to the Chamber without further proceedings. Upon receipt of the file in the House, it will be transferred from the appeal to the contrary for five (5) days. Once the transfer has been answered, or the time has expired to do so, the Chamber shall rule on the origin or improperness of the appeal, and may, if any, confirm, revoke or modify the scope of the precautionary measure. ARTICLE 6 The processing of the proceedings referred to in article 1 corresponds to the competence of the Federal Justice. ARTICLE 7 Article 195 bis of the National Code of Procedure, Civil and Commercial Procedure. ARTICLE 8 In cases where appeals had been filed directly with the Supreme Court of Justice of the Nation pursuant to article 195 bis of the Civil and Commercial Proceedings Code of the Nation which, by the previous article, is repealed, the Supreme Court of Justice of the Nation shall refer to the respective Appeals Chambers, proceedings pending decision at the date of entry into force of this Act. The Appeals Chambers should resolve the appeals by adapting their proceedings to the provisions of the preceding articles. Article 9 This law shall begin to govern from the time of its promulgation and shall be in effect as long as the public emergency in social, economic, administrative, financial and exchange matters, as provided for in Act No. 25.561, is committed to the development of an essential activity of the State. ARTICLE 10. Contact the Executive.



EDUARDO O. CHANGE. . MARCELO E. LOPEZ ARIAS. . Eduardo D. Rollano. . Juan C. OyarzĂșn.