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"2016 - YEAR OF THE BICENTENNIAL OF THE DECLARATION OF NATIONAL INDEPENDENCE"
SENATE AND HOUSE OF REPRESENTATIVES
NATION ARGENTINA MEETING CONGRESS, ETC.
SANCTIONED FORCE
LAW:
Article 1 .- Revoke Laws Nos. 26,017, 26,547 and 26,886, and its rules
regulations and complementary Articles 1 to 11 inclusive, the last paragraph of
Article 12 and Articles 13 to 15 of Law No. 26,984, as well as any other law,
decree or rule that is contrary or inconsistent with the provisions of this law.
ARTICLE 2 .- amend section 42 of Law No. 27,198, which shall read
as follows:
"ARTICLE 42.- Authorize the Executive Branch, through the Ministry
OF FINANCE AND PUBLIC FINANCES, to continue the standardization of services
public debt referred to in Article 41 of this Law, under the terms of Article
65 of the Law of Financial Administration and Control Systems Public Sector
National, No. 24,156, as amended, being empowered EXECUTIVE POWER
NATIONAL to perform all acts necessary for the conclusion of that
process in order to adapt its services to the payment possibilities NATIONAL STATE
in the medium and long term.
The MINISTRY OF FINANCE AND PUBLIC FINANCES report
semiannually to HONORABLE CONGRESS OF THE NATION, the progress of the negotiations and
the agreements that arrive during the negotiation process.
The final court rulings issued against the provisions of the
Law No. 25,561, Decree No. 471 dated March 8, 2002, and its rules
Further, backsliders on such securities are included in the deferral indicated
in Article 41 of this law. "
"2016 - YEAR OF THE BICENTENNIAL OF THE DECLARATION OF NATIONAL INDEPENDENCE"
ARTICLE 3 .- Ratifícanse cancellation agreements concluded between the REPUBLIC
ARGENTINA and holders of government securities (and / or their representatives) were
eligible for the swap provisions of Decree No. 1735 dated December 9, 2004 and
its complementary rules, which have not been submitted to such exchange or the provisions
by Decree No. 563 dated April 26, 2010 (Eligible Securities), which
as Annex I, in copy in English and translated into Spanish language are part
integral part of this law.
It allows the MINISTRY OF FINANCE AND PUBLIC FINANCE as
Enforcement Authority of this Act, to extend the respective periods
maturity established in the agreements mentioned cancellation.
ARTICLE 4 .- Authorize the implementing authority to make amendments and / or addenda to
cancellation agreements referred to in the preceding article while not affecting
object or their economic conditions, as well as to perform all acts
to settle the debt with the holders of Eligible Securities (and / or its
representatives) estuvieren not covered by the agreements referred Cancellation
in the preceding article, including the signing of agreements and other instruments.
In order to implement the signing of the agreements referred to in paragraph
above, the Enforcement Authority may offer:
a) all holders of Eligible Securities, a payment equal to the amount of
principal amount outstanding of its securities plus a fifty percent (50%) of the
principal amount (Offer Base). In any case, the amount payable may exceed
amount recognized by any judgment with respect to such securities more
corresponding to the application of legal interest as of January 31 legal update
2016.
The Base Offer will be implemented and implemented through:
 i) the signing of debt cancellation; Y
"2016 - YEAR OF THE BICENTENNIAL OF THE DECLARATION OF NATIONAL INDEPENDENCE"
ii) a national and international offer of cash payment on delivery of Titles
Eligible public ( "cash tender offer," according to its name in English).
With respect to holders of Eligible Securities who initiated
claims before the District Court for the Southern District of New York, UNITED
STATES OF AMERICA, grouped in a class action is authorized to agree on a
additional sum to cover the administrative costs required to notify
who they are included in the respective class, under the terms of the Agreement
provided for in paragraph 4 of Annex I.
b) Those holders of Eligible Securities whose claims were
included in court orders issued by the District Court for the District
Southern New York, UNITED STATES, dated February 23, 2012,
and amended as of November 21, 2012 (the "Order" Pari Passu "Original") and
dated October 30, 2015 (the "Order" Pari Passu "Me Too" and together with the
Order "Pari Passu" Original, the "Pari Passu Orders"), the provisions of the Offer Base
provided for in paragraph a) above or, at its option, the following proposal (the "Offer
"Pari Passu" "):
i) those holders of Eligible Securities which they would be achieved by
Orders "Pari Passu" which they come down with a monetary judgment, delivered with
prior to 1 February 2016, that it finds the debt arising from Titles
Eligible public under his tenure, a payment equal to seventy percent
(70%) of legal claims (including the amount recognized in that judgment and
legal interest from the date of judgment until January 31
2016) and
ii) to those holders of Eligible Securities which they would be achieved by
Orders "Pari Passu" not they come down with a monetary judgment, delivered with
prior to 1 February 2016, that it finds the debt arising from Titles
"2016 - YEAR OF THE BICENTENNIAL