Asian Bank Agreements On Investment In Infrastructure-Approval

Original Language Title: ACUERDOS BANCO ASIATICO DE INVERSION EN INFRAESTRUCTURA - APROBACION

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image start infoleg site The Ministry of Justice and Human Rights
AGREES

Act 27571

Approval .

The Senate and Chamber of Deputies of the Argentine Nation, meeting in Congress, etc.

Law:

Article 1-Approve the entry of the ARGENTINE REPUBLIC, as a non-regional member, to the ASIAN INFRASTRUCTURE INVESTMENT BANK (BAII).

Art. 2nd-Approve the AGREEMENT ESTABLISHING the ASIAN INFRASTRUCTURE INVESTMENT BANK (BAII), signed on June 29, 2015 by its founding members in Beijing, POPULAR REPUBLIC CHINA, consisting of SESENTA (60) articles and DOS (2) Annexes the one that, together with its public translation into the Spanish language, forms part of this law.

Art. 3º-THE NATIONAL EXECUTIVE BRANCH shall appoint the representative to subscribe to the AGREEMENT ESTABLISHING the ASIAN INFRASTRUCTURE INVESTMENT BANK (BAII) on behalf of the Argentine Republic and deposit the instruments of approval and ratification of the said Agreement with the Government of the People's Republic of China, in accordance with Article 58 of the said Agreement.

Art. 4th-Authorize the CENTRAL BANK OF THE ARGENTINE REPUBLIC so that, in the name and on behalf of the ARGENTINE REPUBLIC, it will subscribe to FIFTY (50) shares of capital, whose nominal value is USD 100 thousand ($100,000) each one, corresponding to the subscription accepted by the Asian INFRASTRUCTURE INVESTMENT BANK (Baii) for the accession of a member country. Of the total to subscribe, FORTY (40) shares correspond to the capital required, equivalent to US DOLLARS FOUR MILLION (U 4,000,000) and the remaining DIEZ (10) to the capital to be integrated, equivalent to US DOLLARS ONE MILLION 1,000,000), payable in accordance with the terms and conditions provided for in Article 6 of the CONSTITUTIVE AGREEMENT.

Article 5-The CENTRAL BANK OF THE ARGENTINE REPUBLIC is hereby authorized to make, in the name and on behalf of the ARGENTINE REPUBLIC, the payments necessary to meet the commitments emanating from the CONSTITUTIVE AGREEMENT.

Art. 6th-The CENTRAL BANK OF THE ARGENTINE REPUBLIC shall be the depositary of the Asian INFRASTRUCTURE INVESTMENT BANK (BAII), in accordance with the provisions of Article 33 of the CONSTITUTIVE Agreement. For such purposes, it is authorised to carry out all the operations provided for in that Agreement.

Art. 7-The provisions of Article 44 of the TREATY ESTABLISHING the BAII shall have the force of law throughout the territory of the Nation, in accordance with the national constitution.

Article 8-Contact the national executive branch.

GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, ON THE TWENTY-EIGHTH OF OCTOBER OF THE YEAR TWO THOUSAND TWENTY.

REGISTERED UNDER NO 27571

CLAUDIA LEDESMA ABDALLAH DE ZAMORA-SERGIO MASSA-Marcelo Jorge Fuentes-Eduardo Cergnul

NOTE: The Annex/s that integrates this (a) Law are published in the web edition of the BORA -www.boletinofficial.gob.ar-

ê 18/11/2020 N ° 56504/20 v. 18/11/2020

( Note Infoleg: The annexes referred to in this standard have been extracted from the Official Gazette web edition. The same can be found in the following link: Annexes )