MODIFICATE REGULATION ON STATE COMPANY Act No. 14.380
The Senate and Chamber of Deputies of the Argentine Nation, meeting in Congress, punishes with force ARTICLE 1
- Amend the following articles of Law 13.653, as follows: Article 1 -
The activities of industrial, commercial or exploitation of public services of the same nature, which the state, for reasons of public interest, considers necessary to develop, may be carried out through entities that will be called "Empresas del Estado".
State enterprises are subject to: (a) Private law in all its specific activities; and (b) To the public law in all matters relating to its relations with the administration or the public service in its charge. Article 2 -
The enterprises of the State shall adjust their functioning to the provisions of this law, to that of its creation and to the respective organic statutes established by the executive branch.
The statutes of the companies shall specify at least:
Management and Administration.
Requirements and incompatibility of the authorities.
Faculty and obligations of the authorities.
Distribution of utilities. Article 4
The enterprises of the State shall submit annually to the Executive Branch, in the time and manner determined by it, the Pln of Action to develop during the following financial periods, accompanying a descriptive memory of the activities to be carried out by the Company and an operating budget that covers, in an integral way and by large sectors, the resources and erogations to be made during the following financial period, as well as the estimation of the probable results to be obtained. These plans and operating budgets will be communicated to Congress within 30 days of their approval. Article 5:
(Suppressed). Article 6:
Within the time period determined by the executive branch, the companies will raise the report, General Balance and Account of Wins and Losses of each financial period.
The Executive Branch will include this information in the first investment account to be submitted to Congress. Article 7:
The Accounts of the Nation shall exercise the control of the agencies referred to in the present Act, in all aspects related to their economic-financial and property development, guiding this task in the form of:
(a) Verify the movement of funds, values and species, as well as the results of the exploitation;
(b) Observe any act or procedure that does not conform to the conferred mandate.
The aforementioned control will be exercised through the procedure of "accounting cash" in the way that the executive branch will regulate. Article 8
- The Executive Power is empowered to form State Enterprises with the services currently in charge and which, by their nature, are covered by this Law, as well as to adapt the provisions of the organic laws, which govern their current functioning, to the needs and characteristics of their new institutional organization, giving account to the H. Congress. Article 10. -
(Suppressed). ARTICLE 2° -
The responsibilities of the State Enterprise authorities shall be determined according to the rules applicable to public officials and those that govern for directors of anonymous companies as soon as they amount to greater legal protection for the injured interest.
All staff of the State Enterprises are subject to liability proceedings under the Accounting Act No. 12.961. ARTICLE 3° -
In the future, the State Enterprises, excluding those responsible for the provision of a public service, shall be subject to all existing national, provincial and municipal taxes, fees and contributions, or to the creation, with the exception of taxes on revenues, of extraordinary benefits, of eventual and substitutional gains of the tax on the free transfer of goods.
The State Enterprises, whatever their nature, shall enter into General Rents the proportion established in the respective regulations on the liquid and realized profits determined in accordance with the rules to which the executive branch will give effect. ARTICLE 4° -
State Companies may not be declared bankrupt. In cases where the Executive Branch resolves the dissolution or liquidation of a State Enterprise, it will determine the destination and procedures to follow in respect of the assets that constitute its assets.
Please refer to the Executive Branch to arrange for the full or partial transfer or disposal of the assets of the State Enterprises, when reasons of general interest justify it, in charge of giving account to the H. Congress.
The net production of the operations carried out by the Executive Branch, pursuant to this article, shall be entered into the National Treasury.
The State shall answer for the payment of the non-covered liabilities. ARTICLE 5° -
Default all provisions that are contrary to this Law and empower the Executive Branch to order its order. ARTICLE 6
Contact the Executive.
Given in the meeting room of the Argentine Congress, in Buenos Aires, on the thirty days of the month of September of the year, a thousand nine hundred and fifty-four.
A. TEISAIRE A. .J. BENITEZ
Alberto H. Reales Rafael V. González
- Registered under No. 14.380 -