Key Benefits:
VISTO Issue No. 080-005735/98 of the Register of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, Decree No. 2703 of 20 December 1991, Decree No. 2512 of 13 December 1993, Decree No. 1499 of 18 December 1996, Resolution of the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES No. 557 of 26 April 1994 and
CONSIDERING:
That Decree No. 2703 of 20 December 1991 entrusted the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, the BANCO OF THE ARGENTINA NATIONAL NATIONAL NATIONAL NATIONAL NATIONAL MINISTERY the creation of an investment bank and foreign trade in the form of an anonymous society, which was constituted under the name of BANCO DE INVERSION
That its constitution was aimed at fulfilling the objectives of economic policies for export and investment stimulation, as a means of achieving sustained growth in the national economy in a context of stability.
That by Decree No. 2512 of December 13, 1993, in order to increase the capital of the BANK OF INVERSION and EXTERIOR TRADE ANONIMA, the MINISTERIO OF ECONOMY AND ARTWORKS and SERVICES were authorized to make irrevocable contributions of capital with the amounts resulting from the
That, by Decree No. 1499 of 18 December 1996, the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES was authorized PUBLICS to make in the Bank mentioned, in equal character to the described in the previous consideration, the amounts received and those to be perceived by the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA in accordance with the provisions of the Trust Convention of 6 May 1994 (adopted by Resolution of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES No. 557 of 26 April 1994).
That such contributions have succeeded in converting the SOCIEDAD BANCO ANONIMA in an effective instrument for the expansion of foreign trade and the encouragement of investments in dynamic sectors of the national economy.
That in this context the favorable situation of the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA reflected in the balance sheets of its last exercises.
It is necessary to establish new rules of procedure for the allocation of funds transferred to the BANCO OF INVERSION AND EXTERIOR TRADE ANONIMA in the framework of Decrees No. 2512 of 13 December 1993 and No. 1499 of 18 December 1996, affecting those resources for general income of the NATIONAL TESORO.
That in such a temper, irrevocable contributions of capital that are made in the BANK OF INVERSION AND EXTERIOR TRADE ANONIMA SOCIEDAD through the SECRETARIAT OF HACIENDA OF THE MINISTERY OF ECONOMY AND ARTWS AND SERVICES PUBLICS should, starting in 1999, have the corresponding budget forecast.
That it is necessary that the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA proceeds to transfer the sum of PESOS VEINTE MILLONES to the NATIONAL TESORO ($ 20,000.000).
For its part, it is considered appropriate to authorize the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS to make an extraordinary and irrevocable contribution of capital in the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA a contribution of PESOS DIECINUEVE MILLONES CINCUENTA AND SIETE M1L ($ 19,157,000.-) according to Balance General as of June 30, 1998, the amount already in power of that bank institution.
That it is considered appropriate, to authorize the SECRETARIAT OF HACIENDA dependent on the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES to subscribe with the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA, a new Trust Convention in order to implement those aspects that are necessary from the dictation of the established rule.
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 this Decree is issued in exercise of the powers provided for in Article 99, paragraph 1, of the NATIONAL CONSTITUTION.
Therefore,
THE PRESIDENT OF THE ARGENTINA NATION
RIGHT:
Article 1Disposed the income to the NATIONAL TESORO of those amounts to be received, and in its case the balance of the contributions received from non-capitalized, which under the requirements contained in Decrees No. 2512 of 13 December 1993 and No. 1499 of 18 December 1996 were, until the date of the dictation of the present, affected to the BANCO OF INVERSION AND TRADE ANONIMA, as irrevocable contributions of capital. Art. 2o-From the year 1999 the irrevocable contributions of capital made by the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES, through the SECRETARIAT OF HACIENDA to the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA, they must be contained in the National Administration Budget Act for the corresponding fiscal year. Art. 3o-Articles 1 and 2 of this Decree amend the provisions of Decrees No. 2512 of 13 December 1993 and No. 1499 of 18 December 1996 in all cases as soon as they oppose the provisions of those Decrees. Art. 4o-Tell yourself that the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA transferred to the NATIONAL TESORO, of the financial assets given in Trusteeship by the Resolution of the MINISTERY OF ECONOMY AND PUBLIC SERVICES No. 557 of 26 April 1994, the sum of PESOS VEINTE MILLONES ($ 20,000.000.-) within the time limit of CINCO (5) days from the date of publication of this Decree. Art. 5o-Authorize the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES, through the SECRETARIAT OF HACIENDA, to perform in the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA, an extraordinary irrevocable contribution of capital of PESOS DIECINUEVE MILLONES CINCUENTA AND SIETE MIL ($ 19,157,000). Art. 6o-Authorize the SECRETARIAT OF HACIENDA, under the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, to subscribe to a new Trust Agreement with the BANCO OF INVERSION AND EXTERIOR TRADE SOCIEDAD ANONIMA, in order to implement those aspects that are necessary, in accordance with the provisions of this Decree. Art. 7o-Authorize the SECRETARIAT OF HACIENDA, under the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES, to carry out the necessary property and accounting operations, in order to comply with the provisions of this Decree. Art. 8o-Please refer to the BANCO OF INVERSION AND EXTERIOR SOCIEDAD ANONIMA and to the public sector agencies that are shareholders of that institution at the date of the present, to perform the necessary corporate acts, in order to comply with the provisions of this Decree. Art. 9o-Please refer to the MINISTERY OF ECONOMY AND PUBLIC ARTWS AND SERVICES to dictate the complementary standards necessary for the implementation and implementation of the provisions of this Decree. Art. 10-Communicate, publish, give to the National Directorate of the Official Register and archívese-MENEM-Roque B. Fernández - Jorge A. Rodríguez.