DECRETO N° 1725

STATE SOCIETIES

State Society House Coin. Statute organic.

Modification of the Organic Statute.

VISTO Decree 2475° dated 19 August 1977, by which the organic status of the Society of the State Casa de Moneda was approved, created by Law No. 21622°, and

CONSIDERING:

It is necessary to modify certain articles of the aforementioned statute, as well as to repeal and replace others, in order to print a clear sense of application and thus facilitate the best functioning of the state entity subject to its legal provisions.

That, on the other hand, reasons for administrative convenience advise to delegate to the Secretary of State of the Treasury the assembly powers referred to in article 5° Act No. 21622.

That article 3° of Act No. 21622 empowers the national executive branch to make changes to the aforementioned organic status.

Therefore,

Article 1 - Amend the articles. 7th, 9th, 11th, 12th and 15th, deflect the articles. 16, 17, 18, 19, 20, 21 and 22 and replace the articles. 23 and 24 for the articles. 17 and 18 of the Organic Statute of the Society of the State House of Currency, approved by Decree No. 2475 of 19 August 1977, as contained in the single annex to the present decree.

Article 2 — Refer to the Secretary of State of the Treasury the powers granted by Article 5 of Law No. 21.622.

Article 3 - Communicate, publish, give to the National Directorate of the Official Register and archvese.

Videla. - David R. H. de la Riva. - José A. Martínez de Hoz.

UNICO Annex
STATE SOCIETY
MONEDA CASE

Amendment to its Statute
Professional

Article 7 — The management and administration of society will be in charge of a Directory composed of three members, who will last three years in office, each being re-electable. — One will exercise the presidency, another the vice president, and the remaining one will serve as director.

The President, the Vice President and the Director shall be appointed by the National Executive Branch, on the proposal of the Ministries of Economy, Defence and the Central Bank of the Argentine Republic respectively. — In the first case, the proposal will be made with the advice of the Ministry of Finance.

The Board members shall remain in office until the expiration of their term of office, except for resignation, incapacity, removal, death or abandonment of their posts.

In the event of a vacation, the National Executive shall appoint its replacement by the term remaining until the end of the period for which the member was appointed to whom it replaces.

The Prosecutor ' s Commission shall designate the provisional replacement, which shall act until the member appointed by the National Executive, for which purpose it shall require the above-mentioned agencies, the persons who may eventually be appointed.

Article 9 — In guarantee of the performance of their duties the directors will deposit in the box of society the sum of fifty thousand pesos ($ 50,000), in cash, values or national titles.

Article 11 (last paragraph) — The members of the directory are subject to the prohibitions and responsibilities set out in the articles. 271-279 of Act No. 19.550.

Article 12. — The Board shall have broad powers to organize, direct and administer society, without other limitations resulting from the laws applicable to it and the present statute, corresponding to it:

(a) To propose to the Secretary of State of Finance the organizational-functional structure, mission and functions of the society and its modifications.

(c) To submit to the consideration and resolution of the competent authority, the annual budget and the plan of action, in accordance with the guidelines established by that authority.

(d) To submit to the consideration and resolution of the competent authority the general balance, status of results, project of distribution of profits and memory of the exercise, as well as any other measure concerning the management of the society, as appropriate.

(n) To submit to the consideration and resolution of the competent authority, adjustments to the budget or action plans, where technical or economic reasons advise.

(o) Establish the salary scales, salaries and other remunerations of its staff, in accordance with the pay standards and other provisions applicable in accordance with the laws for the relevant validation by the competent authority.

(u) Hold mutual or asdato contracts.

(y) Resolve any doubt or issue that might arise in the application of this statute, ad referendum of the Ministry of Finance.

The enumeration is declarative and non-binding and, consequently, the Board has all the necessary powers to administer and dispose of the property of the society and to hold all acts that do to the social object, except the exceptions provided for in this statute, including through specially appointed agents, for purposes and with the scope of powers that be determined in each case.

Article 15. — The control of the society in accordance with Article 7 of the Creation Act shall be carried out by the Fiscalizing Commission, which shall be integrated with 3 (three) Summary and 3 (three) Supplementary Syndrome who shall remain in office for 3 (three) exercises, however they shall continue to exercise the same until their replacement by being re-elected.

The Fiscalizing Commission shall adjust in its operation to Law No. 21.801 forming the quorum with the presence of half plus one of its members and by adopting the decisions by an absolute majority of those present must be carried the corresponding book of records.

In the event of dissent, the physician adopting such a temperament shall have the rights, duties and powers set out in article 294 of Act No. 19.550.

Article 16. — The designation of the trustees shall be in accordance with Act No. 21.801.

Article 17. — The financial period of the Company of the State Currency House will begin on 1 January and will end on 31 December of each year. At the end of each exercise the Board shall formulate an inventory, a general balance, a state of results and a memory of the progress of the society, in accordance with the rules established by Law No. 19.550 and the generally accepted principles in the matter which shall be subject to the consideration and approval of the competent authority, with the opinion of the Fiscalizing Commission within the term set out in Article 234 of Law No. 19.550.

Of the liquid and realized profits will be allocated 5 percent for the Legal Reserve Fund, until the completion of 20 percent of the social capital. Once the legal reserve fund and other optional forecasts advised by the Directory are covered, the remainder shall be made available to the competent authority, which shall decide on its destination, by itself, or on the proposal of the directory.

Article 18. — The liquidation of the Society, upon legislative authorization, shall be carried out by the administrative authority designated by the national executive branch for that purpose. Calculated the liability, paid the liquidation costs and reimbursed the capital, the remainder shall be made available to the National State for the purpose of its distribution, in accordance with what the competent authority determines.