Public Debt - Restructuring - Full Text Of The Norm

Original Language Title: DEUDA PUBLICA TITULOS PUBLICOS - REESTRUCTURACION - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
DEUDA PUBLICA Law 26.547 Restructuring of Public Titles eligible for redemption. Replace the validity of articles 2°, 3° and 4° of Act No. 26.017. Posted: November 18, 2009 Cast: December 9, 2009

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

ARTICLE 1 Replace the validity of articles 2o, 3o and 4o of Law 26.017 until 31 December 2010 or until the national executive branch, through the Ministry of Economy and Public Finance, declare the process of restructuring the public securities reached by the aforementioned norm, which occurs first. ARTICLE 2 Authorize the national executive branch, through the Ministry of Economy and Public Finance, to carry out all those acts necessary for the completion of the process of restructuring public titles that are eligible for the exchange provided for in the Decree No. 1735 of 9 December 2004 and its supplementary rules that had not been submitted to it, in the terms of article 65 of Law 24,156 on Financial Administration and the National Public Sector Control Systems and their amendments, in order to adapt the services of such debt to the possibilities of payment of the national State in the medium and long term. Article 3 The financial terms and conditions offered may not be equal or better than those offered to creditors, in the restructuring of debt provided by Decree No. 1735/04. ARTICLE 4 Except for the public debt securities issued as a result of the provisions of this Act, the provisions of articles 7 and 10 of Act No. 23,928 and their amendments, to be appropriate. ARTICLE 5o The holders of public securities that are eligible for exchange under Decree No. 1735/04 and their complementary rules that wish to participate in the restructuring operation that is carried out under the provisions of this law shall waive all rights that correspond to them under the aforementioned titles, including those rights that have been recognized by any judicial or administrative judgement, the arbitral award or decision of any other authority, and may waive and waive any other jurisdiction,

Public debt holders who have initiated judicial, administrative, arbitral or other proceedings are prohibited from being treated more favourably than those who have not done so.

ARTICLE 6 The Ministry of Economy and Public Finance will report quarterly to the Honorable Congress of the Nation, the advance of the trades and the agreements reached during the negotiation process. ARTICLE 7 Contact the national executive branch.

IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE DIASS OF THE MONTH OF NOVEMBER OF THE YEAR DOS MIL NEW.

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JOSE J. B. PAMPURO. EDUARDO A. FELLNER. . Enrique Hidalgo. . Juan H. Estrada.