Key Benefits:
Bs. As., 15/7/1994
VISTO THE N.001-001389/94 Record of the MINISTERY OF ECONOMY AND PUBLIC SERVICES AND
CONSIDERING:
That the placements made in international financial markets over the past two years have involved a reduction in the cost of financing of NATIONAL TESORO.
That in a first stage these placements were made in the international markets, then acquire a global character with the participation of the local market.
That the placement of a Global External Bonus of the Argentine Republic, simultaneously in the country and abroad, has had a beneficial effect on the National Treasure and the economy of the country in general.
It is favourable to continue to carry out simultaneous placements in the country and abroad.
It is desirable to open the possibility of access in the next two years to the domestic market of the United States of AMERICA for a nominal value of up to DOLARES STADOUNIDENSES DOS MIL MILLONES (VN. U$S 2,000,000.000).
That in this sense the registration of obligations of the ARGENTINA REPUBLIC in the face of the "Securities and Exchange Commission" of the United States of AMERICA will allow to quickly access qualified investors from the US domestic market and will enable them to globalize these instruments.
That the NATIONAL EXECUTIVE PODER is empowered to submit disputes with foreign persons in non-Argentine courts in accordance with article 16 of the 1993 orderly supplementary budget law.
That article 36 bis of Act No. 23.576 and its amendments establish tax treatment to apply to credit instruments that review the characteristic of public titles.
That the NATIONAL EXECUTIVE POWER is empowered to authorize external indebtedness operations for the current fiscal year, in accordance with article 9 of Act No. 24 307.
THE PRESIDENT OF THE ARGENTINA NATION
RIGHT:
Article 1 Artículo Please refer to the MINISTERY OF ECONOMY, through the Responsible Body for the Coordination of the Financial Management Systems of the National Public Sector, to include in the contracts that it subscribes for the emissions of public debt securities, under this Decree, clauses that establish the extension of jurisdiction, for an amount that does not exceed the figure of VALOR NOMINAL DOLARES ESTADOUNIDENSES SESENTA 6000.
(Article replaced by art. 1 Decree No. 986/2001 B.O. 6/8/2001).
Article 2° Artículo Commend the MINISTERIO DE ECONOMIA, through the Responsible Body for the Coordination of the Financial Management Systems of the National Public Sector, the registration before the "SECURITIES AND EXCHANGE COMMISSION" of the United States of AMERICA of an amount that does not exceed the sum of the nominal value authorized by Article 1 of the present Decree and the emissions of the instruments mentioned in the article. When operations under this Decree are carried out, they shall be within the authorizations of the Budget Act for each exercise or under section 65 of Act No. 24.156.
In addition, emissions arising from article 1 of this Decree, except those covered by article 65 of Act No. 24,156, must comply with the requirement of article 61 of the Act.
(Article replaced by Article 2 of the Decree No. 986/2001 B.O. 6/8/2001).
Article 3° Artículo Include the MINISTERY OF ECONOMY, through the SECRETARIAT OF FINANCIALS, to:
(a) Designate the financial institutions that will participate in the registration and issuance of these instruments.
(b) Determine the nominal value of the bonds within the limit of Article 1 to be offered for sale, the times and times in which they will take place, the different conditions in which they will be made and the markets of the country or of the outside where they will be offered.
(c) Establish methods and procedures for the placement and sale of the respective bonds, in accordance with existing practices in both national and international jurisdictions where such placements will take place.
(d) To agree to and subscribe to the contracts necessary for the implementation of the registration, the organization of an emission program and the placement and/or sale of the bonds, which shall include the usual clauses for this purpose.
(e) To participate actively in the follow-up of the various operations, having to be continuously informed about the method of placing the respective bonds, the allocation of purchase orders between the different participants and other relevant market decisions.
(f) To agree on conditions by which the placeholders are obliged to purchase the bonds offered and to place them on the market.
(g) Hiring the legal advisory services of internationally recognized firms necessary to assist the NATIONAL STATE.
(h) Pay for all expenses incurred and fees agreed upon in accordance with the relevant arrangements.
(i) Authorize certain officials in the relevant areas to subscribe the respective documentation and implement any other action related to the operations.
(Article replaced by Art. 3rd Decree No. 343/2000B.O. 24/4/2000)
Article 4° Artículo Authorize the inclusion, under the terms of issuance of the Bonds issued, of clauses establishing the extension of jurisdiction in favor of the courts located in the city of NEW YORK, UNITED STATES OF AMERICA; and the waiver of opposing the defense of sovereign immunity, the inembargobility with respect to:
(a) Assets that constitute reserves of free availability, within the framework of the Law on Convertibility, the amount, composition and investment of which is reflected in the General Balance and Accounting Status of the ARGENTINA REPUBLIC BANCO prepared in accordance with Article 5 of Law No.23.928.
(b) Public domain assets located in the territory of the ARGENTINA REPUBLIC or property belonging to it and which are located in its territory and are intended for the purpose of an essential public service.
(c) The funds, values and other means of financing affected to the budgetary execution of the PUBLICO SECTOR, whether it is cash, deposits in bank accounts, securities issued, obligations of third parties in portfolio and in general any other means of payment that is used to meet the erogations provided for in the National General Budget
(Article replaced by Art. 2nd Decree No. 338/1996B.O. 8/4/1996)
Article 5° Artículo Contact, post, give to the National Directorate of the Official Register and archvese. CAMENEM CA CAVALLO
- Article 1 replaced by art. 1 Decree No. 648/2001 B.O. 17/5/200;
- Article 2 replaced by art. 2ndDecree No. 343/2000B.O. 24/4/2000;
- Article 1 replaced by art. 1 Decree No. 1179/2000 B.O. 18/12/2000;
- Article 1 replaced by art. 1 Decree No. 343/2000B.O. 24/4/2000;
- (Article 1 replaced by art. 1 Decree No. 436/1999B.O. 6/5/1999;
- Article 1 replaced by art. 1 Decree No. 650/1998B.O. 11/6/1998;
- Article 2 replaced by art. 2nd Decree No. 650/1998B.O. 11/6/1998;
- Article 3, replaced by article 3, Decree No. 650/1998B.O. 11/6/1998;
- Article 1 replaced by art. 1 Decree No. 862/1997B.O. 8/9/1997;
- Article 2 replaced by art. 2nd Decree No. 862/1997B.O. 8/9/199;
- Article 1 replaced by art. 1 Decree No. 1573/1996B.O. 30/12/1996;
- Article 2 replaced by art. 2nd Decree No. 1573/1996B.O. 30/12/1996;
- Article 1 replaced by art. 1 Decree No. 338/1996B.O. 8/4/1996.
