HYDROCARBONS

Law 26,915

Law No. 26,659. Amendment. Sanctioned: November 27, 2013 Enacted: December 5, 2013

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

ARTICLE 1-Substitute Article 7 of Law 26,659 by the following:

Article 7 °.-1. It will be repressed with prison of FIVE (5) to DIEZ (10) years, fine equivalent to the market value of TWENTY THOUSAND (20,000) to HUNDRED THOUSAND (100,000) barrels of crude oil (WTI) with capacity of FORTY TWO (42) gallons of the United States, equivalent to ONE HUNDRED AND FIFTY NINE (159) litres, and special disablement for twice the time of the conviction to carry out any commercial activity, which, without the authorization of the competent authority, will take up or carry out, for its own account or third parties, any activity of searching for hydrocarbons through exploration in the bed or in the subsoil of the territorial sea or on the Argentine continental shelf; 2. It will be repressed with prison of DIEZ (10) to QUINCE (15) years, fine equivalent to the market value of HUNDRED AND FIFTY THOUSAND (150,000) to A MILLION FIVE HUNDRED THOUSAND (1,500,000) barrels Crude oil (WTI) with capacity of forty-two (42) US gallons, equivalent to HUNDRED AND FIFTY-NINE (159) litres, and special disablement for twice the time of the conviction to perform any commercial activity, the which, without the authorization of the competent authority, takes up or shall carry out, for its own account or third parties, any activity of extracting hydrocarbon from deposits located in any of the maritime areas indicated in the preceding paragraph, or their transport or storage; 3. The conviction for the facts provided for in this article shall be imported the confiscation of equipment and materials used in the execution of the illicit acts and of the hydrocarbons that have been extracted, and the extinction of any exploration permit or concession of exploitation or of mining or mining, and of any concession or license originating in any type of contract granted or approved by the National State or any Provincial State, and the expiry of the tax or pension benefits that have been agreed upon for the benefit of the author of the event.

ARTICLE 2-Substitute Article 8 of Law 26,659 by the following:

Article 8 °-When any of the facts provided for in the preceding article have been executed in the name, with the aid or for the benefit of an ideal person of existence, an association of fact, or a

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The Court held that, despite the fact that it had no quality of the subject of the right to be bound by the tax effects in accordance with the rules in that matter, the prison sentence would apply to the directors, managers, syndicates, members of the Board of Directors supervision, administrators, agents, representatives or authorized persons who have intervened in the punishable fact.

ARTICLE 3-Substitute Article 9 ° of Law No 26,659 by the following:

Article 9 °-Where any of the facts referred to in points (1) and (2) of Article 7 have been executed in the name, with the intervention, or for the benefit of an ideal person, the following penalties shall be imposed on the institution or alternatively, without prejudice to the provisions of other provisions of this rule: 1. Multa equivalent to the market value of HUNDRED THOUSAND (100,000) to ONE MILLON (1,000,000) or ONE HUNDRED AND FIFTY THOUSAND (150,000) to ONE MILLION FIVE HUNDRED THOUSAND (1,500,000) barrels of crude oil (WTI) with capacity of FORTY-TWO (42) gallons (a) the United States, equivalent to HUNDRED AND FIFTY-NINE (159) litres, in the case of an infringement of Article 7 (1) or (2), respectively; 2. Total or partial suspension of activities, by up to DIEZ (10) years; to participate in public works or public works contracts or invitations to tender or in any other activity linked to the State, by up to DIEZ (10) years; 4. Cancellation of the person's office when it has been created to the sole effect of the commission of the offence, or those acts constitute the main activity of the entity; 5. Publication of an extract of the sentence (a) a conviction at the expense of the legal person or entity that is liable for tax purposes under the laws in that matter; in order to graduate these penalties, the judges shall take into account the non-compliance with internal rules and procedures; extent of the damage caused, the amount of money involved in the commission of the crime, the size, the nature and the economic capacity of the legal person.

ARTICLE 4 °-Substitute Article 10 of Law No. 26,659 by the following:

Article 10.-The jurisdiction for the instruction and judgment of the facts provided for in this law corresponds to the Federal Justice.

ARTICLE 5-Substitute the numbering of Articles 7, 8, 9, 10 and 11 of Law No 26,659 as Articles 11, 12, 13, 14 and 15 respectively.

ARTICLE 6-Commune to the national executive branch.

GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, AT THE TWENTY-SEVEN DAYS OF THE MONTH OF NOVEMBER OF THE YEAR TWO THOUSAND THIRTEEN.

-REGISTERED UNDER NO 26,915-

BELOVED BOUDOU. -JULIAN A. DOMINGUEZ. -Juan H. Estrada. -Gervasio Bozzano.

Date of publication: 09/12/2013

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