CREDICT FACTURES

Decree 1221/97

Please provide for the time limit set out in article 2 of Decree No. 410/97 on transitional regimes established by article 4 of Decree No. 376/97.

Bs. As., 14/11/97.

B. O.: 21/11/97.

VISTO the regime of the credit invoice established by article 2 of Act No. 24,760, Decree No. 376 and 377, both dated 25 April 1,997, Decree No. 410 of 8 May 1,997, and

CONSIDERING:

That the NATIONAL EXECUTIVE PODER, through the decrees quoted, has issued the corresponding complementary and regulatory rules in order to operationally enforce the application of the regime treaty.

That through Article 4 of Decree No. 376/97, transient regimes of application of Act No. 24.760 were introduced, by which economic operators could use vouchers in use to document their commercial transactions.

The regimes were applied until 31 August, including 1,997.

That by Decree No. 410 of 8 May 1,997, it was decided to extend the entry into force of the provisions of Act No. 24,760, governing the provisions of Act No. 24,760 from 1 September 1,997, including, consequently, extending the period of application of the regimes regulated by article 4 of Decree No. 376/97, until 30 November 1,997, inclusive.

That the situations raised and exposed by specialists and by various sectors of economic activity have shown that the provisions of Act No. 24,760 profoundly restructure contractual relations, commercial uses and administrative procedures, which may lead to distortions in trade, forcing to make an important adaptation effort to document transactions included in the credit bill regime.

The above circumstances suggest extending the time limit for the use of the transitional regimes established by article 40 of Decree No. 376/97 in force until 30 November 1,997, inclusive.

That, for the reasons stated, it is in the presence of an exceptional circumstance that makes it impossible to follow the ordinary procedures provided for by the National Constitution for the sanction of the laws.

That the General Directorate of Humanitarian Affairs of the MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICOS has taken the intervention that belongs to him.

That the present is dictated in the use of the powers conferred on the NATIONAL EXECUTIVE POWER by article 99, paragraph 3, of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION IN GENERAL AGREEMENT OF MINISTERS

RIGHT:

Article 1- Please provide for the deadline set out in article 2 of Decree No. 410/97 until 31 March 1,998, including.

Art. 2°- Note the Honorable Congress of a Nation.

Art. 3°- Contact, post, give to the National Directorate of the Official Register and archvese. - MENEM. - Jorge A. Rodriguez. - Roque B. Fernández. - Guido Di Tella. - Alberto J. Mazza. - José A. Caro Figueroa. - Carlos V. Corach. - Susana B. Decibe.