STATE COMPANY REGIME AND FUNCTIONING LEY 13.653 INITENDS AS TALES, THE DECENTRALIZED ENTITIES OF NATIONAL ADMINISTRATION FUNTIONS OF COMMERCIAL, INDUSTRIAL AND PRESTATION OF PUBLIC SERVICES Sanctioned: September 30 -1949 Promulgated: October 24 - 1949 WHY:
The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress sanction with force ARTICLE 1
— For the purposes of this Act, the decentralised entities of the national administration, which carry out functions of a commercial, industrial or public services of a similar nature, are defined as "State enterprises". ARTICLE 2
— State enterprises shall act in accordance with what they establish their laws of creation and the organic statutes established by the executive branch. Article 3
— State Enterprises shall operate under the direct control of the executive branch for the purpose of guiding their activities, and notwithstanding any provision contrary to the respective organizational laws. ARTICLE 4o —
Annually, the Executive shall include in the respective jurisdictional annexes to the draft general budget of the Nation. to be elevated to the Honorable Congress, the budget for salaries and expenses for the administration of the State Enterprises, or, failing that, of the executive bodies of equal character that have under their regime or government, their functioning. When financial or economic reasons make it indispensable as a result of the increase or decrease in its resources, the Executive Power may authorize extensions or reductions of the same, giving account to the Honorable Congress, which will be incorporated into the General Budget, if during the corresponding legislative period, they have not been considered by the Congress. ARTICLE 5o —
Subject to their laws and regulations, the State Enterprises shall make all other expenses, investments and operations required for the common turn of their specific activities, giving account to the Executive Branch in accordance with this law. ARTICLE 6o —
In the form and opportunity to be determined by the Executive, they will elevate for the purposes of their approval a memory that will contain:
(a) Work done;
(b) Performance result of its administration budget;
(c) Statement of assets and liabilities and profit and losses account.
This memory once approved will be forwarded to Congress H. ARTICLE 7o —
The National Accounting Office will oversee the State Enterprises through the accounting audit procedure, in the manner that will regulate the executive branch. ARTICLE 8° —
The Laws 12,961 and 13,064 and any other legal provision that is contrary to the provisions of this Law shall not apply to State Companies. ARTICLE 9o —
The executive branch is empowered to form State Enterprises with the services currently in charge and which, by their nature, are covered by this law, giving account to the Honorable Congress. ARTICLE 10. -
The Executive Power is authorized to extend the salary and expenditure budget to the extent required by the creation, in the Account of the Nation, of a body of auditors, of the effects of compliance with the provisions of Article 7. ARTICLE 11. -
This law shall not be applicable to the institutions that comprise the Official Banking System, which shall continue to operate under the control regime that establish their respective laws, without prejudice to the fact that the balance sheets of the Central Bank of the Argentine Republic are certified by one of the National Accountants, designated for the purpose by the Executive Branch. ARTICLE 12. -
Contact the Executive.
Given in the meeting room of the Argentine Congress, in Buenos Aires, on the thirtieth day of the month of September of nine hundred and forty-nine.
J. H. QUIJANO H. J. CAMPORA
Alberto H. Reales L. Zavalla Carbó
- Registered under number 13.653 -