The Senate passed the Capital Market Bill with 54 affirmative and ten negative votes. The amendments introduced by the parliamentary coalition Argentina Federal (Senate’s agenda Nº 10) were incorporated. Now the bill has to return to the Chamber of Deputies.
Besides the amendments added in the ruling, legislators included another proposal suggested by Argentina Federal in Article 53. Thus, the whole changes are:
Article 37 paragraph D. It was eliminated the tacit agreement needed of the Senate -after 60 days without a pronuncement of the floor.- established for designations. The article 7 of the Organic law of the Central Bank was adopted.
Articles 42 and 89 were deleted. Both were identical to articles 17 and 119 of Law Nº 26.831.
Article 207 was eliminated because it is already in the Tax Reform Law (Nº 27.430), which was passed December 2017.
Article 129 indent B was deleted since it was contrary to the guidelines set in the Tax Reform Law
Article 208 was modified, which limits its application to the profits generated after January 1st, 2018. Otherwise, taxes would be applied retroactively, which is against the law.
Article 53. The second paragraph was modified, where “may” was replaced by “shall”