Increase of the minimum capital required by the Argentine Corporate Law

On August 7, 2012 the Decree No. 1331/2012 (the “Decree”) was published in the Official Gazette. The Decree updates the capital required by Section 186 of the Argentine Corporate Law No. 19,550.
The minimum capital is set at one hundred thousand pesos (AR$100,000). The preamble of the Decree states that the minimum capital for the establishment of corporations must be renewed periodically for the purpose of having a correlation with the economic reality, and that this need has been long overdue.
Also, the preamble mentions that this update was requested by the Public Registry of Commerce. The previous update was on September 20, 1991, by Decree No. 1937.
The Decree shall come into force as of October 7, 2012.

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