Corporations under permanent State control

On May 11, 2005 the Sub-secretary of Registration Matters of the Ministry of Justice, upon the request of the Public Registry of Commerce of the City of Buenos Aires, enacted Disposition No 6/2006.  This disposition raises the capital amount set forth in Section 299, paragraph 2, of the Argentine Corporate Law from AR$ 2.100.000 to AR$ 10.000.000. Upon such amount corporations shall be subject to permanent State control.

The effective date is not mentioned in Disposition No 6/2006. Therefore, it became effective eight days after its publication in the Official Gazette, namely on May 25, 2006.