MINISTERY OF INTERIOR Act No. 13.501 DISOLUTION OF THE CORPORATION OF TRANSPORTS OF THE Sanctioned: September 30-1948.
Promulgated: October 13-1948.
The Senate and Chamber of Deputies of the Argentine Nation, assembled in Congress, etc., sanction with force ARTICLE 1 -
Declárase expires the concession granted by Law 12.311 to the Transport Corporation of the City of Buenos Aires and dissolves the entity. The trustee will proceed to the liquidation of the corporation. ARTICLE 2° -
For the purpose of the liquidation, the current single trust system will be replaced by three trustees designated by the Executive, who will act together and make decisions by a majority. ARTICLE 3° -
The trusteeship shall:
(a) Initiate liquidation within 10 days of the promulgation of the present;
(b) To carry out the tasks of the state of liquidation and to continue to carry out the administration of the corporation aimed at the total liquidation of the corporation; without affecting the present or future continuity and regularity of the public service, for which the Nation will guarantee the necessary expenses to be incurred;
(c) Proceed to liquidation through public or private tendering, and sale or direct award. The disposal of the entire physical assets of the corporation, including both the main and the accessories, will be done, only, in one block, without affecting the functional unit of the physical asset destined for public service;
(d) Liquidate physical assets within one hundred and eighty days of the promulgation of the present. ARTICLE 4° -
The alienation referred to in the preceding article shall not be valid or perfected until it is approved by the Congress, who, to pronounce himself, will review the entire liquidation process practiced until that time and especially the proposals presented, an opportunity to readjust the proposals, taking into account the acquired and consumed to maintain the continuity and regularity of the service. ARTICLE 5° -
The Transport Control Commission of the city of Buenos Aires, throughout the liquidation process, shall:
(a) To continue to exercise the functions prescribed by Act No. 12,311, controlling the entire liquidation process and, in particular, not affecting the continuity and regularity of services;
(b) To project, within four months of the promulgation of the present, the future organization of public transport services of the city of Buenos Aires and areas that make up the Gran Buenos Aires, on the basis of the direct presentation of such services by the State;
(c) Report to Congress. ARTICLE 6
Authorize the Executive Branch to intervene in the acquisition referred to in Article 3, paragraph (c); the financing will be made through the official banking system. ARTICLE 7° -
The liquidation situation of the Corporation shall not be a cause for the declaring in "commission" to the staff currently providing services therein, nor for the demolition of such a situation, the declaring of a ceaser or the detriment of the scale. ARTICLE 8° -
Contact the Executive. Given in the meeting room of the Argentine Congress, in Buenos Aires, in the thirtieth day of the month of September of the year thousand nine hundred forty-eight.
J. H. QUIJANO H. J. CAMPORA
Alberto H. Reales L. Zavalla Carbó
- Registered under number 13.501 -