\n\nLEGISLATION<\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nCommunication “A” Nº 7327\/21 – Access to MULC<\/h3>\nBy means of Communication A Nº7327, the Central Bank (“BCRA”) partially modifies the regulations of Foreign Exchange of the BCRA (“Exterior y Cambios”) by adding new complementary requirements applicable to the transfers of currency abroad, setting forth -among others- that BCRA’s prior authorization shall be required except the interested party submits an affidavit declaring that during the last 90 days as of the date of the transfer request, and also during the following 90 days, the interested party had\/will not arrange sales or exchanges of securities settled in foreign currency in Argentina or transfer of same to foreign depositary entities. In addition, in case the interested party is a legal entity, the submitted affidavit shall include information of its controllers and a declaration that during the last 90 days as of the date of the transfer request, the entity has not delivered funds in local currency to said controllers, with the exception of those funds directly related to the regular operation of the entity.<\/p>\n General Resolution Nº 895\/21 – New Foreign Exchange Regulations<\/h3>\nBy means of General Resolution Nº 895\/2021, the National Securities Commission (“CNV”), modifies the regulations related to the minimum holding period (“parking”) applicable to certain securities trading operations. The sale of securities settled in foreign currency abroad shall be subject to a parking period of 2 business days. The local sale of securities settled in foreign currency shall be subject to a parking period of 1 business day. Said parking periods shall not apply in case of purchase of securities settled in foreign currency. Transfers of securities settled in local currency to foreign depositary entities shall be subject to a parking period of 2 business days (except in case of securities issued by the National Treasure or CEDEAR). The Resolution also provides a weekly maximum limit for the operations of trading of securities with fixed rate issued by the Argentine Republic nominated and payable in US dollars.<\/p>\n Decree Nº 455\/21 – Deferral of Restrictions Due to Health Emergency<\/h3>\nBy means of Decrees Nº 455\/2021, the Executive Branch defers until August 6th, 2021 the preventive measures set forth under Decree Nº 287\/21 in order to mitigate the spread of SARS-CoV-2, which provided certain parameters for considering each jurisdiction as Low Risk, Medium Risk, High Risk or Epidemiologic Alarm, and the corresponding restrictions applicable to jurisdiction according to said categories.<\/p>\n Administrative Decision Nº 723\/21 – Amendments to Sanitary Restrictions<\/h3>\nBy means of Administrative Decision Nº 723\/21, Chief of Staff sets forth new parameters for considering jurisdictions as High Risk in relation to SARS-CoV-2 epidemiological preventive measures and sanitary risk, and excepts certain activities from the suspensions and restrictions previously imposed to High Risk jurisdictions<\/p>\n Administrative Decision Nº 683\/21 – Closure of National Borders<\/h3>\nBy means of Administrative Decision Nº 683\/2021, the Chief of Staff defers until August 6th, 2021 the term provided under Administrative Decisions Nº 2252\/20, 268\/2021 and complementary regulations regarding closure of national borders due to the transmission of SARS-CoV-2 and the increase in the number of coronavirus cases.<\/p>\n General Resolution Nº 10\/21 – New Requirements for Registration of Transfers of Quotas<\/h3>\nBy means of General Resolution Nº18\/2020, the Superintendence of Corporations (“IGJ”) sets forth that registration of transfer of quotas of Limited Liability Companies (S.R.L.) shall require -in addition to other previous requirements- the publication provided under Section 10 of Law 19.550, including reference to company’s stock capital, quantity and nominal value of company’s quotas, identity of transferor and transferee and the amount of quotas subject to such transfer.<\/p>\n Resolution Nº 6\/21 – New Values for the Minimum Wage<\/h3>\nBy means of Resolution Nº 6\/2021, the Ministry of Work, Labor and Social Security modifies Resolution Nº4\/21 and sets forth the new values of the minimum wage applicable as from July 1st, August 1st and September 1st, 2021.<\/p>\n Decree Nº 438\/21 – Choice of Health Insurance Coverage<\/h3>\nDecree Nº438\/21 issued by the Executive Branch modifies certain aspects of the health insurance system. Among other aspects, the Decree determines that workers who commence a working relationship shall remain in the health insurance corresponding to their activity at least for one year before being able to change of health insurance provider<\/p>\n Resolution Nº 388\/21 – REPRO II<\/h3>\nBy means of Resolution Nº 388\/2021, the Ministry of Work, Labor and Social Security adopts the recommendations issued by the Evaluation Committee of the Repro II Program which sets forth the parameters to be met by companies in order to access the benefits under the program regarding the salaries accrued during June 2021.<\/p>\n Resolution Nº 5024\/21 and Nº 5037\/21 – Reference Values Applicable to Export<\/h3>\nBy means of General Resolutions N° 5024\/2021 and Nº 5037\/2021, the General Direction of Customs sets forth new values of reference for the exportation of certain products provided therein.<\/p>\n \n\n\n\nLATEST NEWS IN THE HYDROCARBON SECTOR <\/span><\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nResolutions N° 623\/21 and N° 633\/21 – Price of Bioethanol (Sugar Cane and Corn)<\/h3>\nResolution N° 633\/2021 issued by the Secretary of Energy amends Resolution Nº 624\/2021 regarding determination of the price for the acquisition of bioethanol obtained from sugar cane and corn destined for mandatory mixture with fuel (Disposition N° 81\/2019) and sets forth that the new prices shall become valid as from the date of publication of said Resolution in the Official Gazette.<\/p>\n Resolutions N° 624\/21 and N° 634\/21 – Price of Biodiesel<\/h3>\nResolution N° 634\/21 issued by the Secretary of Energy modifies Resolution Nº624\/21 regarding determination of the price for the acquisition of biodiesel destined for mandatory mixture with diesel (Law N° 26,093) and sets forth that the new price shall become valid as from the date of publication of said Resolution in the Official Gazette.<\/p>\n Decree Nº 456\/21 – Promotion Regime for the Sustainable Production and Use of Biofuels<\/h3>\nBy means of Decree Nº 456\/2021, the Executive Branch defers until August 27th, 2021 or until a new “Biofuel Regulatory Framework” comes into effect, whichever comes first, the validity of the Promotion Regime for the Sustainable Production and Use of Biofuels (Law Nº26,093).<\/p>\n Resolution N° 201\/21 – Protocol for the Monitoring of Marine Fauna during Seismic Surveys<\/h3>\nResolution Nº201\/2021 issued by the Ministry of Environment approves the “Protocol for the Implementation of Monitoring of Marine Fauna During Seismic Surveys” which aim is to systemize the implementation of actions for the mitigation the damage to marine fauna caused by seismic surveys and the information about events and behavior of the fauna that could be observed. To such end, companies which had finished a seismic survey campaign shall submit with the Ministry of Environment a “Final Report of Marine Fauna Monitoring and Mitigation”.<\/p>\n Resolution Nº 706\/21 – Liquefied Natural Gas Operators Registry and LNG Export Regime<\/h3>\nBy means of Resolution Nº 706\/21 (the, “Resolution”), the Secretary of Energy creates the “Liquefied Natural Gas Operators Registry” (the, “Registry”). According to the Resolution, all producers, storages, transporters and\/or traders of Liquefied Natural Gas (“LNG”) must register with the Registry and comply with the requirements set forth under the Resolution. The operators registered with the Registry shall submit the safety audit certificate elaborated in accordance with the applicable regulations and fulfill the safety regulations set forth under the Resolution. In addition, the Resolution creates a special regime applicable to the export of LNG under which interested companies\/persons in exporting LNG must comply with certain requirements in order to obtain the permit to such purposes, including among others, the registration with the registry and demonstrating that the product was offered in the local market. The export permits shall be granted by the authority on firm bases.<\/p>\n Resolution Nº 234\/21 – Public Tender for the Consulting Service of Retained Gas<\/h3>\nResolution Nº234\/21 issued by Gas Enforcement Authority (“ENARGAS”) calls a public tender for the consulting service for the investigation of the percentages of retained gas, a concept used for the determination of the gas transport costs.<\/p>\n Please, do not hesitate to contact us in case you have any further questions or comments:<\/p>\n \n Mar\u00eda Victoria Tiscornia
Senior Associate
mvtiscornia@bcoabogados.com.ar
+54 11 4326-7777<\/p>\n Leandro Martin Orts
Senior Associate
lorts@bcoabogados.com.ar
+54 11 4326-7777<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Relevant News Restrictions to acquire foreign currency (access to MULC) for economic groups Parking period for securities trading Health Emergency (COVID-19). New preventive restrictions Minimum Wage Deferral of the Promotion Regimen for Biofuels Liquefied Natural Gas Operators Registry<\/p>\n","protected":false},"author":1,"featured_media":32,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/comments?post=104"}],"version-history":[{"count":1,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/104\/revisions"}],"predecessor-version":[{"id":275,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/posts\/104\/revisions\/275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media\/32"}],"wp:attachment":[{"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/media?parent=104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/categories?post=104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bcoabogados.com.ar\/en\/wp-json\/wp\/v2\/tags?post=104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | |