DEFENSA MINISTERY

Decree 161/92

Transfer to the State Department the totality of the share capital owned by the National State for anonymous companies with majority state participation, anonymous companies, state societies and mixed economy societies whose ownership, possession or possession is exercised by the Armed Forces and the agencies under the jurisdiction of the Ministry.

Bs. As., 23/1/92

I SEE Law Nro. 23.696, Decrees Nros. 946/90 and 1757/90, as proposed by the Minister of Defence, and

CONSIDERING

That the need to move forward in the process of State reform requires that the competent bodies be provided with all the necessary powers.

In accordance with articles 13 of Law No. 23,696 and 71 of Decree No. 1757/90, the Ministry of Defence has assigned exclusive competence for the privatization of the companies in its area, including through the sale of the shareholders of companies whose ownership, possession or possession is currently exercised by the ARMED FORCES and by agencies and divisions under its jurisdiction.

Moreover, articles 64 of Act No. 23,696 and 1 of Decree No. 946/90 grant the Ministry of Defence the exercise of economic and political rights derived from the participations in the aforementioned companies.

It is appropriate for the better implementation of the privatization and deregularization objectives that may eventually be subject to such State-owned shareholders, their transfer to the Ministry which is the authority to apply the matter.

That this act is within the powers conferred by article 86, paragraph 1 of the National Constitution and article 15, paragraph 13 of Act No. 23,696.

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 — Transfer to the MINISTERY DEFENSA the totality of the share capital owned by the NATIONAL STATE corresponding to anonymous companies with majority state participation, anonymous companies, state societies and mixed economic societies whose ownership, possession or possession currently includes the ARMED FORCES and the agencies or distributions under the jurisdiction of the Ministry.

Article 2 — The transfer mentioned in the previous article shall be operated by the tradition of the titles or certificates that credit the respective participations.

Article 3 — The MINISTERY OF DEFENSA is empowered to provide all measures leading to the effectiveization of the available transfers, in accordance with the applicable legal or statutory rules in each case.

Article 4° — Contact, post, give to the National Directorate of the Official Register and archvese. - MENEM. - Antonio E. González.