FOREIGN GOVERNMENT AGENCIES

Law 26,961

Jurisdictions. Immunity. Sanctioned: August 6, 2014 Enacted: August 7, 2014

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

ARTICLE 1-Establishment that foreign central banks or other foreign monetary authorities are immune to the jurisdiction of the Argentine Courts except for the alleged cases listed below: (a) expressed in writing through an international treaty, contract, arbitration agreement or written declaration following the initiation of a judicial or arbitral dispute; (b) Counterclaim based on the same relationship (c) Where the application is based on an activity outside its own functions and the jurisdiction of the Argentine Courts arises from the contract relied on or from international law.

ARTICLE 2 °-For the purposes of this law, foreign monetary authority shall be entitited to foreign governmental bodies responsible for designing, studying, executing and adopting the necessary credit and exchange measures for the regulation. the currency and liquidity circulation of the foreign exchange and financial market, as well as ensuring the normal functioning of the internal and external payments of the economy, safeguarding the stability of the currency's value. The assets of a foreign central bank or a foreign monetary authority enjoy immunity from enforcement and/or embargo in the Argentine courts from any coercive measures that might affect such assets.

ARTICLE 3-The immunity referred to in the preceding article shall apply to the same extent as the assets of the Central Bank of the Argentine Republic, as a national monetary authority, enjoy immunity under the law of the the country to which the foreign central bank or the foreign monetary authority concerned belongs.

Article 4 °-The Central Bank of the Republic of Argentina shall subscribe to the corresponding international instruments within the framework of its own rules and the powers of this law.

ARTICLE 5 °-Commune to the national executive branch.

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GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, ON THE SIX DAYS OF AUGUST OF THE YEAR TWO THOUSAND FOURTEEN.

-REGISTERED UNDER NO 26,961-

JULIAN A. DOMINGUEZ. -Juan H. Estrada. -Lucas Chedrese. -Gerardo Zamora.

Date of publication: 08/08/2014

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