Read the untranslated law here: https://www.boletinoficial.gob.ar/#!DetalleNorma/10530398/20160703
PUBLIC government securities securities law 26.984 payment sovereign. Restructuring of debt. Sanctioned: 10 September of 2014 promulgated: 11 September of 2014 the Senate and Chamber of deputies of the Argentina nation gathered in Congress, etc. sanctioned with force of law: title I Chapter first of the payment sovereign Local of the debt of the Republic Argentina article 1 - in exercise of the power of the sovereign of the Argentina Republic, declared of public interest the sovereign debt restructuring carried out in the years 2005 and 2010, as well as the payment in fair, fair, legal and sustainable to one hundred per cent of the holders of public securities of the Republic Argentina; and, therefore, the implementation of contracts concluded in the framework of the restructuring provided for by Decree 1735/04 and 563/10, for the purposes of preserving the collecting by the interested bondholders.
Article 2 °-the present law has by object implement instruments legal that allow the collection of them services corresponding to the hundred percent of them titles issued in the frame of the restructuring of debt sovereign 2005-2010 (in forward, "titles restructured"), in safeguards of the order public national and of them contracts celebrated in the frame of such restructuring, before the illegitimate e illegal obstruction of them mechanisms of collection of them funds paid by the Republic Argentina with date 26 June 2014, arranged by judicial orders issued by the Court of Southern District of the city of New York as part of the cause, NML Capital Ltd. et al v. Republic of Argentina that, such as they have been handed down, are unenforceable and violate the sovereignty and immunities of the Argentina Republic both the rights of third parties.
Chapter second of the mechanism to safeguard the collection of them forks that adhered to the restructuring of debt sovereign 2005-2010 https://www.boletinoficial.gob.ar/pdf/linkQR/eEZpNjlhWEtlcEZycmZ0RFhoUThyQT09 article 3 °-under the public and notorious inability of Act of the Bank of New York Mellon as agent trust of the Convention of trust 2005-2010 ("Trust Indenture" of date 2 of June of 2005, modified the 30 of April of 2010) , and taking into account the powers of removal provided for in that Convention (which provides in its clause 5.9, among other powers, as when "the trust agent is unable to act [...]") the Republic will remove [him] and hire a successor fiduciary agent with respect to the debt securities"), as well as the right of the Argentina Republic ensure the effective payment of their holders, authorized the authority for the application of this Act to take appropriate measures to remove the Bank of New York Mellon as trustee agent and to appoint , in his replacement, Nación Fideicomisos S.A.; all this without prejudice that attends to the bondholders to appoint a new trustee agent which ensures channel collection of the services corresponding to the titles restructured, according to provisions of articles 5.9 and 7 of the agreement of trust 2005-2010, among others, as it was promptly reported by the Republic of Argentina in the ' legal debt Argentina bondholders Exchange 2005-2010 " published in the Official Gazette dated 27 June, 7 July and August 11, 2014.
Article 4 ° - create the account called "Fund Act No. XX payment sovereign's debt restructured", which will be a special account of Nación Fideicomisos S.A. in the Central Bank of the Republic of Argentina, and whose object shall be kept in trust funds deposited there and apply them to the payment of the debt services corresponding to the titles governed under the escrow agreement 2005-2010 , according to the provisions in clause 2 (e) and matching of terms and conditions of such securities, and of that Convention.
Article 5 ° - authorized enforcement authority to pay, in corresponding due dates, the services of the titles governed under the agreement of trust 2005-2010 account Fund Act No. XX - sovereign payment of debt restructured created by article 4 of this law where will be maintained for the exclusive benefit of bondholders until its effective enforcement.
Article 6 ° - the funds corresponding to payments in the previous article will be distributed through the new entities that, for these purposes, designated enforcement authority or the holders of titles, governed under the agreement of trust 2005-2010, in accordance with that Convention, being currencies there deposited free availability for bondholders.
Article 7 ° - in case that on the occasion of the illegitimate and illegal obstruction of mechanisms for payment of services of the restructured titles not governed by law and Argentine jurisdiction, their holders opted - in individual or collective form - by requesting a change in the legislation applicable and jurisdiction to their titles, authorized the authority of application to: 1. implement an exchange for new Government securities governed by legislation and local jurisdiction, in identical financial conditions and terms, and by equal nominal value, to the of the titles restructured presented such an Exchange operation. 2 implement an exchange for new Government securities, governed by legislation and jurisdiction of the French Republic, in terms and financial conditions identical, and at equal nominal value, to the of the titles restructured presented such an Exchange operation; being authorized for these purposes, as it is relevant, the extension of jurisdiction of courts located in the French Republic under the terms and conditions of this law. In such cases, the funds deposited in their benefit under the terms of article 5 of the present, https://www.boletinoficial.gob.ar/pdf/linkQR/eEZpNjlhWEtlcEZycmZ0RFhoUThyQT09 will be delivered together with the new Government securities that are issued at the time of their placement. The Republic Argentina does not waive immunity with respect to enforcement of judgments arising from the extension of jurisdiction clauses, including respect of the goods listed below: i. the reservations, the assets that comprise them, and accounts of the Central Bank of the Republic of Argentina, and in general the accounts of the Argentina Republic that link with a public function; II. ownership of the Argentina Republic affected the fulfilment of its diplomatic and consular functions subject to privileges and immunities under the Vienna Convention of 1961 on diplomatic relations, including but not limited to ownership, property and accounts of the Argentine missions; III. any well belonging to the public domain in the territory of the Republic of Argentina that are included in the provisions of the articles 2337 and 2340 of the Civil Code of the Republic of Argentina, as well as property situated within or outside the territory of the Republic of Argentina which are intended for the provision of an essential public service; IV. any either of the Republic Argentina, its agencies or governmental entities concerned to the budgetary implementation of the public sector in a whole in accordance with the provisions of article 165 of law 11.672 permanent complementary of budget (t.o. 2014); v. The property intended for or in connection with military use or under control of military authority or agency of Defense of the Republic of Argentina; VI. cultural objects that belong to the historical and cultural heritage of the Republic of Argentina; or vii. Property protected by any law of sovereign immunity which applies.
Chapter third of the deposit on behalf of the bondholders still not admitted to the restructuring of sovereign debt 2005-2010 article 8 ° - authorized enforcement authority to implement the exchange of the Government securities that were eligible and that still not entered the restructuring of sovereign debt 2005-2010, in accordance the Law 26.886.
Article 9 ° - create the account called "Fund Law No. XX – payment sovereign of debt slope of redemption", which will be a special account of nation Fideicomisos S.A. in the Central Bank of the Republic of Argentina open under the good faith of the Argentina nation, and their willingness and ability to pay on equal terms to all creditors According to the interpretation, conventional and generally accepted term pari passu.
ARTICLE 10. -Authorized enforcement authority to deposit on the account Fund Act No. XX - sovereign payment of debt redemption slope created by article 9 of this law, in corresponding due dates, an amount of money equivalent to those who would pay for the services of the new Government securities that are issued in the future According to the provisions of article 1 ° of the Law 26.886, in replacement of those that still not entered the restructuring of sovereign debt 2005-2010.
ARTICLE 11. -The funds corresponding to payments in the previous article will be delivered to holders attending the Exchange operation which is available under the terms of https://www.boletinoficial.gob.ar/pdf/linkQR/eEZpNjlhWEtlcEZycmZ0RFhoUThyQT09 Law 26.886, together with the new Government securities corresponding to the time of their placement.
Title II chapter one of the public order of this law
ARTICLE 12. -Create, in the field of the Honorable National Congress, the Joint Standing Committee monitoring the management and research of the origin and the payment of the debt outside of the nation, which will be composed of eight (8) senators and eight (8) members, appointed by the Presidents of the respective Chambers on the proposal of the blocks of Parliament respecting the proportion of political representations , and that will be governed by the regulation of internal operation to that effect issued by. The permanent Bicameral Commission created by this Act shall purpose investigate and determine the origin, evolution and the current state of the external debt of the Republic Argentina from March 24, 1976 to date, including their renegotiations, refinancing, swaps, megacanje, shields, the respective commissions payments, default and restructuring, by issuing opinion founded with respect to the effect of the amounts rates and deadlines agreed upon in each case, and irregularities that could detect. In addition, the Commission will have the following functions: 1. Management tracking and payments carried out. 2. the investigation of the legality or illegality of the hostile takeover, operated by the Fund vultures in order to hinder the rest of the holders of debt collection, as well as the action that develop in our country the task force hired by those (American Task Force Argentina-ATFA), dedicated to discredit the Republic Argentina, its Executive Branch the Honorable Congress of the nation and its judiciary. 3. the presentation of a report end with regard to them themes covered in the present article, to be considered by both cameras, within the term of cent eighty (180) days starting from its Constitution. The permanent Bicameral Commission created by this law may request information, documentation or data to national, provincial, or municipal agencies, centralized, decentralized or autarchic, as well as financial institutions, national and international, private or public; and any other agency that is necessary for the fulfilment of its tasks. The present Joint Standing Committee members as well as the eventual or permanent staff assigned to it, must keep the strictest confidentiality with respect to information to which access pursuant to the preceding paragraph. In case of disclosure or misuse of the information to which they have access on occasion or exercise of its functions, you will be considered in serious misconduct to their duties and the penalties regime, without prejudice to the responsibilities that may be applicable by application of the Penal Code shall apply to them. This law is of public order and shall enter into force as from the day of its publication in the Official Gazette.
ARTICLE 13. -The payments provided for in articles 5 and 10 will be attended with charge to the jurisdiction 90 - services of the public debt.
https://www.boletinoficial.gob.ar/pdf/linkQR/eEZpNjlhWEtlcEZycmZ0RFhoUThyQT09 article 14. -Exempt funds created by this law and the fiduciary agent in their transactions relating to the same, all taxes, fees and existing national contributions and to create in the future. This exemption includes laws 20.628, 23.349 and 25.063 25.413 taxes and other internal taxes that may be applicable. It invited provinces and the autonomous city of Buenos Aires to adhere to the relief of all applicable taxes in your jurisdiction in equal terms from those established in the previous paragraph. Empower the enforcement authority to issue clarification and complementary standards that are necessary to implement the enforcement of this Act.
ARTICLE 15. -Communicate to the national executive power.
GIVEN IN THE CHAMBER OF THE CONGRESO ARGENTINO, BUENOS AIRES, ON THE TENTH DAY OF THE MONTH OF SEPTEMBER IN THE YEAR TWO THOUSAND FOURTEEN.
-REGISTERED UNDER NO. 26.984 - AMADO BOUDOU. -JULIAN A. DOMINGUEZ. -Lucas Chedrese. -John Estrada.
Date of publication: 12/09/2014 https://www.boletinoficial.gob.ar/pdf/linkQR/eEZpNjlhWEtlcEZycmZ0RFhoUThyQT09
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