INDUSTRIA AUTOMOTRIZ

Decree 864/97

Authorize the company Nakai Japan Sociedad Anónima to settle in the country in order to produce automotive vehicles, in accordance with the regime established by Law No. 21.932 and its regulations.

Bs. As., 1/9/97

B.O. 3/9/97

VISTO file No. 060-014322/96 of the Register of the ECONOMY MLNISTERIO and PUBLIC SERVICES, and

CONSIDERING:

That by such actions the company NAKAI JAPAN SOCIEDAD ANONIMA requests the relevant authorization for the purpose of its residency in the country as a terminal company of the Automotive Industry, according to the regime established by Law No. 21.932 and its regulations.

That the presentation meets the requirements established by the Resolution

ex-SECRETARIAT OF INDUSTRIA AND MINERIA del ex MlNISTERIO DE ECONOMIA No. 248 dated 21 October 1982.

That the industrial project involved in the above request involves significant investments and the creation of a significant number of new jobs.

That also the product of the industrial activity that the company plans to develop will be destined both to the domestic market and to the export.

That the SECRETARIAT OF INDUSTRIA, COMMERCY AND MINERIA of the MlNISTERIO DE ECONOMIA AND ARTWS AND PUBLIC SERVICES, in its capacity as the Authority of Application of the aforementioned regime, has considered viable the request of the company NAKAI JAPAN SOCIEDAD ANONIMA, recommending its approval.

That the GENERAL DIRECTION OF JURIDIC MATTERS OF ECONOMY AND ARTWORKS AND SERVICES PUBLICOS has taken the intervention that belongs to him.

That this Decree is issued in the use of the powers conferred by article 3 of Act No. 21.932 and article 99 (1) of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1Authorize the company NAKAI JAPAN SOCIEDAD ANONIMA, to settle in the country in order to produce motor vehicles, in accordance with the regime established by Law No. 21.932 and its regulations. The authorised firm is domicile for legal purposes in San Martín Street No 492, 6th Floor, Office 46/48 of the Federal Capital and the industrial plant will be installed in the BARRIO SANTA ISABEL - Second Section - CORDOBA, PROVINCIA DE CORDOBA.

Art. 2o -In a no greater period of CIENTO OCHENTA (180) days, to be counted from the publication of this decree in the Official Gazette, the aforementioned company shall begin the execution of the works intended for the construction of its industrial plant.

Art. 3o-The commissioning of the above-mentioned industrial plant and the effective start of production should be verified by 31 December 1997. Prior to the verification of the facts mentioned in this article, the signature NAKAI JAPAN SOCIEDAD ANONIMA shall submit to the SECRETARIAT OF INDUSTRIA, TRADE AND MINERIA of the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS the exchange plan referred to in article 9 of Decree No. 2677 of 20 December 1991 as amended by Decree No. 683 of 6 May 1994.

Art. 4o- The deadlines set out in Articles 2 and 3 may be extended for reasons duly justified by the Implementation Authority.

Art. 5o-The authorization granted in this decree is subject to any modifications that may be introduced in the future to the current regime for the automotive industry.

Art. 6o-The petitioner will not be able to make modifications to the proposed project. Any modifications that may be made by the petitioner signature shall be authorized in advance by the Application Authority.

Art.7o-Failure to comply with any of the conditions imposed by the present and/or the time limits established therein shall determine the automatic expiration of the present authorization.

Art. 8o-Contact, post, give to the National Directorate of the Official Register and archívese.-MENEM.-Jorge A. Rodríguez.Roque B. Fernández.