FINANCIAL FUND FOR THE DEVELOPMENT OF THE SILVER BASIN

Law 26,986

Increase of Capital Resources and modifications to the Constitutive Convention. Approval. Sanctioned: September 17, 2014 Enacted in Fact: October 3, 2014

The Senate and Chamber of Deputies of the Argentine Nation, meeting in Congress, etc., are sanctioned by law:

ARTICLE 1-Approve the increase of the Capital Resources of the Financial Fund for the Development of the Silver Basin (FONPLATA), in accordance with the "Resolution A.G. 138/2013" of the Assembly of Governors of the aforementioned Fund, which in copy authenticated form an integral part of this law as Annex I.

ARTICLE 2 °-Approve the modifications to the Constitutive Convention of the Financial Fund for the Development of the Silver Basin, contained in 'Resolution A.G. N ° 137/2013', whose authenticated copy is an integral part of this law as Annex II. Under these reforms Articles 15, 17, 19, 20, 29, 30, 31 and 37 of the said Convention are amended.

ARTICLE 3-Approve the contribution referred to in Article 1 of this Law, in accordance with the provisions of Article 3 of 'Resolution A.G. N ° 138/2013', which shall be represented by a total of three hundred and eighty US dollars; and Three million three hundred and forty-six thousand five hundred (U$S 383,346,500), of which US dollars one hundred and sixteen million six hundred and sixty-six thousand five hundred (U$S 116,666,500) correspond to the integrated capital payable in cash; and US dollars two hundred and sixty-six million six hundred and eighty thousand (U$S 266,680,000) correspond to the capital required. The amounts of the contributions referred to in the article 1 ° to be carried out by the Argentine Republic during the period 2014-2018 shall be made in annual and equal shares, distributed as follows: US dollars twenty-three Three hundred and thirty-three thousand three hundred (U$S 23,333,300) of integrated capital payable in cash; and US dollars fifty-three million three hundred and thirty-six thousand (U$S 53,336,000) of capital required; set out in Article 3 of 'Resolution A.G. N ° 138/2013'.

ARTICLE 4 °-Approve that, according to the standard of Article 4 ° of 'Resolution A.G. N ° 138/2013', the Argentine Republic may choose to make in its national currency the contributions of integrated capital payable in cash up to a maximum of ten percent (10%) of the capital to be subscribed. The contributions made in national currency shall be subject to agreements concluded with FONPLATA for the maintenance of the value of that currency in respect of their equivalence in US dollars, at the rate of

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the official change at the time the contribution is made effective.

ARTICLE 5-Authorize the Central Bank of the Republic of Argentina to make, in the name and on behalf of the Argentine Republic, the contributions established by this law.

Article 6-In order to meet the emerging commitments of this law, the Central Bank of the Argentine Republic must have the corresponding counterpart contributions to be provided by the Secretariat of Finance of the Ministry of Economy and Public Finance, prior to the inclusion of this administration in the General Budget Law of the National Administration for the relevant financial years.

ARTICLE 7 °-Commune to the national executive branch.

GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, AT THE SEVENTEEN DAYS OF THE MONTH OF SEPTEMBER OF THE YEAR TWO THOUSAND FOURTEEN.

-REGISTERED UNDER NO 26,986-

BELOVED BOUDOU. -JULIAN A. DOMINGUEZ. -Juan H. Estrada. -Lucas Chedrese.

NOTE: The Annex/s that integrates this (a) Law are published in the web edition of the BORA -www.boletinoficial.gov.ar-and can also be consulted in the Central Headquarters of this National Directorate (Suipacha 767-Autonomous City of Buenos Aires).

Date of publication: 07/10/2014

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