Aeronautical Code Article 99 Paragraph 4- Clarifications - Full Text Of The Rule

Original Language Title: CODIGO AERONAUTICO ARTICULO 99 INCISO 4- ACLARACIONES - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
CODIGO AERONAUTICO Decree 52/94 Please clarify a forecast for commercial capital companies that operate internal and international air transport services.

Bs. As. 18/1/94

VISTO Section 99(4) and 128 of the Aeronautical Code, sanctioned by Law 17.285, as amended by Laws 19.620, 20,509 and 22,390, and


That commercial companies of capital carrying out the exploitation of domestic and international air transport services must comply with the requirement that most of the actions, to which the majority of computable votes correspond, be nominal, and belong to Argentines with a real domicile in the Republic.

That this reference includes both Argentinean natural persons and Argentine legal persons, both with real domicile in the Republic.

That such hermeneutics is consistent with the provisions of article 2 inc. 4 of the Foreign Investments Act (t. Dto. 1853/93) which defines the local national capital company, and the provisions of the Commercial Societies Act No. 19.550.

That it is not the will of the National Executive, as a regulatory and enforcement authority of the rules of the Aeronautical Code, to limit or restrict its application, as this would not be consistent with the policy of deregulation of privatized public services and the economic activity of production of goods and services in general that has been implemented by the National Government, nor with the very unregulated evolution that air transport has experienced in the international arena in the last decade.

That this is equally consistent in a complementary manner, with the objectives pursued by article 10 of Act No. 23.696, which authorizes the National Executive Power to provide, where necessary, the exclusion of legal norms whose maintenance is in conformity with the objectives of privatization or prevents the demonopolization or deregulation of the respective service.

That the Executive Power is empowered to dictate this measure under article 86, paragraph 2, of the NATIONAL CONSTITUTION.



Article 1.- Please note that the provision of article 99, paragraph 4, of the Aeronautical Code, which provides that in commercial capital companies that carry out the exploitation of internal air transport services, most of the actions, to which the majority of computable votes correspond, shall be nominal and belong in property to Argentines with real domicile in the Argentine Republic, includes Argentine natural and legal persons, with real domicile in the Republic. Art. 2°.- The clarification in the preceding article applies to the international air transport service, in accordance with article 128 of the Air Code. Art. 3rd.- Contact, post, give to the National Directorate of the Official Register and archvese. . MENEM.. Domingo F. Cavallo. (Note Infoleg: by art. 10 Decree No. 1012/2006 B.O. 8/8/2006 reinstates the validity of this decree. (Note Infoleg: - By art. 1 Decree No. 204/2000B.O. 7/3/2000 suspends the application of this decree by the end of 180 administrative working days from 8/3/2000. - Extended by the term of 365 administrative working days from the date of expiry of the period determined by Decree No. 204/2000, by art. 1 Decree No. 1113/2000B.O. 1/12/2000. - Derived from the term of expiry determined by Decree No. 1113, until the expiration of the term established in article 1 Decree No. 1654/2002 (approval of law 25.561), by art. 11 of Decree No. 1654/2002 B.O. 6/9/2002)