VETO

Decree 843/95

See the Bill of Law sanctioned under No. 24,490.

Bs. As; 22/6/95

VISTO Draft Law No. 24.490, sanctioned by the HONORABLE CONGRESS OF NATION dated 31 May 1995 and

CONSIDERING:

That the HONORABLE CONGRESS OF NATION has provided for by the aforementioned Draft Law the extension of the validity of the additional reimbursement to exports established in Article 1 of Law No. 23.018, maintaining the applicable profit levels since January 1, 1984, for all ports and customs located south of the Colorado River mentioned in that rule by the end of CINCO (5) years from January 1, 1995.

That article 2 of the rule states that the additional reimbursement will be reduced by reason of UN (1) point per year from 31 December 1999 until its gradual extinction.

That the reimbursements for Patagonian ports for being applied on exports are included in the category of subsidies prohibited in the Agreement on Subsidies and Countervailing Measures of the Uruguay Round.

That such subsidies, pursuant to Part VIII of the aforementioned Agreement, should be dismantled progressively within the period of OCHO (8) years from 1 January 1995.

That the extension of the regime for an additional period of CINCO (5) years would lead to a situation of inconsistency with the obligations assumed by Argentina in the Uruguay Round of Multilateral Trade Negotiations.

That in the merits of the above reasons it is up to the total veto of the Bill sanctioned under No. 24,490.

That the present measure is determined in the use of the powers conferred by article 83 of the National Constitution.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 - See the Bill of Law sanctioned under No. 24,490.

Art. 2o - Return to the HONORABLE CONGRESS of NATION the Bill of Law cited in the previous article.

Art. 3o - Contact, post, give to the National Directorate of the Official Register and archvese. - MENEM. - Domingo F. Cavallo.