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Its Financing Plan Quinquennial - Full Text Of The Norm

Original Language Title: SU FINANCIACION PLAN QUINQUENAL - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos

LEY No. 12.966


Buenos Aires, April 2, 1947

As for:



Article 1 - The Executive Power may, regardless of the special resources that, if any, establish the laws, finance the investments it deems necessary in public works and works, as follows:

(a) According to the banking system governed by the Central Bank of the Argentine Republic, within the provisions of the laws governing that system;

(b) By issuing public debt securities as necessary and in accordance with the laws governing the matter.

The resources set forth in this article may only be used by the Executive Branch to cover the amounts of the authorizations of this Act.

The Executive Branch will report annually to the Congress on how authorized amounts have been invested, as well as details of funding, for approval.

Article 2 - Authorize the Executive Power to invest in the various concepts of this plan the following sums:

(a) Public work and transport: up to the sum of three thousand seven hundred ten million pesos national currency of legal course (m$n. 3.710.000.000) whose distribution will be made by the Executive Power taking into account the following concepts: Sanitary Works, Navigation and Ports, Architecture, Viality, Transport, National Parks and Tourism, Ezeiza National Airport and others and m$n. 200,000 for buildings of national universities;

(b) National energy plan: up to the sum of two thousand two hundred thirty-five million pesos national currency of legal course ($ 2.235,000.000), whose distribution will be made by the executive branch taking into account the following concepts: water, electricity, oil, gas, solid mineral fuels and vegetable fuels;

(c) Public health: up to the sum of six hundred and twenty-five million pesos national currency of legal course ($ 625,000.000);

(d) Immigration and colonization: up to the sum of two hundred million pesos national currency of legal course ($ 200,000);

(e) Production: up to the sum of twenty million pesos national currency of legal course ($ 20,000.000) whose distribution will be made by the executive branch taking into account the following concepts: maritime fishing and hunting and promotion of the national industry.

Article 3 - Determine public utility and subject to expropriation the necessary properties for the purpose of carrying out the programme of realizations contained in the government plan 1947/51, empowering the executive branch to constitute bondages and expropriate the materials necessary for the authorized works. Please also inform the Executive Branch to proceed to the sale or location of the expropriated properties and that once the works have been carried out they will not be judged indispensable for the conservation and exploitation of the same.

The executive branch may make arrangements directly for the acquisition of property and materials and constitute bonds.

Art. 4o - The Executive Power may take immediate possession of the property whose expropriation interests it, depositing to the order of the expropriated owners the value of taxation of those for the purpose of payment of the territorial contribution, increased by twenty percent.

If a legal exemption does not include improvements in the valuation and an agreement on its value is not reached, the Federal Judge will resolve the divergence, in the sole instance through verbal and summary proceedings, without the value assigned to such improvements, exceeding the legally exempt amount of the payment of the contribution. If the property is enslaved in jurisdictions of different courts, it shall be competent to have the greatest extent of such property.

Art. 5 - The legal provisions of this law are repealed.

Article 6 - Contact the Executive.

Given in the meeting room of the Argentine Congress, in Buenos Aires on March twenty-eight, nine hundred and forty-seven.

J. H. Quijano
Ricardo C. Guard
Alberto H. Reales
Leonidas Z. Carbó

For: Please enter by Law of the Nation, fill in, report, report to the National Register and Official Gazette and archdiocese.

PERON - Ramón A. Cercijo