Extension of terms for foreign companies registered with the Public Registry of Commerce

On May 30, 2005, the Inspección General de Justicia (“IGJ”), a governmental agency in charge of the Public Registry of Commerce of the City of Buenos Aires, issued General Resolution No 6/2005, which is in force as of May 31, 2005, the date of its publication in the Official Gazette.

This resolution extended the term according to which the foreign companies referred to in General Resolution No 2/2005 (see “New restrictions on registration of “off-shore” companies in the City of Buenos Aires” in Marval News # 36 of February 28, 2005) should comply with the following acts:

(a)make the filings required by sections 3 and 4 of General Resolution No 7/2003 (see “Additional requirements to register foreign entities - Resolution No 7/2003” in Marval News # 21 of September 30, 2003);

(b)adapt to Argentine law pursuant to General Resolution No 12/2003, where appropriate (see “Foreign companies - General Resolution PRC No 12/2003” in Marval News # 24 of December 23, 2003).

Pursuant to Resolution No 6/2005 the term was extended until July 29, 2005. As from that date, the PRC may, without prior notice, judicially demand the cancellation of the registration or, where appropriate, the dissolution and liquidation of the foreign companies that have not complied with Resolution No 2/2005.