CONTRACTING REGIME

Decree 847/97

Please note that the Central Bank of the Argentine Republic has submitted to the Ministry of Labour and Social Security the information to be provided by the banking entities to the said Bank regarding the deposits made by the employers for the payment of wages, for the purposes of the control and supervision provided by Article 124 of the said Regime.

Bs. As., 27/8/97

B.O.: 01/09/97

VISTO Article 124 of the WORKING CONTRACT REGIME Law No. 20,744 (T.O. 1976), and

CONSIDERING:

That, pursuant to article 124 of the WORKING CONTRACT REGIME Law No. 20,744 (T.O. 1976), the remuneration of the worker in money shall be paid, under penalty of nullity, in cash, check to the worker's order to be charged personally by the worker or by the person who indicates or through the accreditation in open account to his name in a bank or in an official savings institution.

That the above-mentioned rule empowers the enforcement authority to provide that in certain activities, companies, farms or establishments, or in certain areas or times, the payment of remuneration for the worker is made exclusively through some or some of the forms envisaged and with the control and supervision of officials or agents dependent on that authority.

That also states that the payment to be made without such supervision may be declared invalid.

That, in the case of payment through credit in bank account, such supervision can be exercised through the control of the deposits made by the employers for payment of wages, through the information provided by the banking entities to the BANCO CENTRAL DE LA REPUBLICA ARGENTINA.

That, without prejudice to such supervision, the relevant obligations that, in respect of receipt of payment, provide for articles 138, 139, 140, 141, 143 and 144 of the WORKING REGIMEN LEY No. 20,744 (T.O. 1976).

That the present decree is issued in the use of the powers set out in article 99, paragraph 2 of the NATIONAL CONSTITUTION.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1The control and supervision provided for in article 124 of the WORKING CONTRACT REGIME LEY No. 20,744 (T.0.1976) for the case with the MINISTERY OF WORK and SECURITY SOCIAL provides for the payment of remuneration by means of open-accreditation on behalf of the worker in a banking entity, they are fulfilled through the remission by the BANCO CENTRAL DE LA REPUBLICA ARGENTINA to that Ministry of the information to be provided by the banks to the BANCO CENTRAL DE LA REPUBLICA ARGENTINA regarding the deposits made by employers for the payment of wages. To this end, the CENTRAL BANCO of the REPUBLICARGENTINA will establish the operating conditions of the respective accounts.

Art. 2o-The exercise of control and supervision and compliance by the Ministry of Labour and Security SOCIAL as referred to in the previous article, does not exempt from the relevant obligations in respect of receipt of payment provided for in articles 138, 139, 140, 141, 143 and 144 of the WORKING CONTRACT REGIME Act No. 20,744 (T.O. 1976).

Art. 3o-Contact, post, give to the National Directorate of the Official Register and archvese.- MENEM.- Jorge A. Rodríguez.- José A. Caro Figueroa.- Roque B. Fernández.