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Overhaul of Economic Deregulation Laws in Argentina: Repealing Obsolete Legislation for Economic Transformation

In a groundbreaking move, Argentina is witnessing a significant shift in its economic landscape through the repeal of several outdated laws. This comprehensive legal transformation, captured under Title II – Economic Deregulation, aims to pave the way for a more dynamic and responsive economic environment. Let’s delve into the key amendments and their implications for the business sector.

Article 4: Repeal of Law No. 18.425

The first stride in this transformative journey involves the revocation of Law No. 18.425. This move signifies a departure from outdated economic regulations, making room for more contemporary frameworks.

Article 5: Termination of Law No. 26.992

A subsequent and crucial step is the annulment of Law No. 26.992. By doing so, the authorities are signaling a commitment to fostering an environment that aligns with current economic trends and demands.

Article 6: Abolishment of Law No. 27.221

The third legislative action revolves around the abolition of Law No. 27.221. This strategic move aims to eliminate bureaucratic hurdles and streamline economic processes for enhanced efficiency.

Article 7: Repeal of Law No. 27.545

In line with the overarching objective of dismantling outdated regulations, Law No. 27.545 faces repeal. This deliberate action emphasizes the government’s dedication to creating a business-friendly atmosphere.

Article 8: End of Law No. 19.227

The sweeping changes continue with the termination of Law No. 19.227. This decision underscores a commitment to creating an adaptive economic framework that responds to the evolving needs of businesses.

Article 9: Closure of Law No. 20.680

A pivotal moment in this legislative overhaul is the closure of Law No. 20.680. This step is geared towards eliminating redundant rules, making way for a more agile and responsive economic structure.

Article 10: Abrogation of Sections of Law No. 27.437

The transformation extends to the abrogation of Articles 1 to 21 and 24 to 30 inclusive of Law No. 27.437. This bold move is aimed at clearing the regulatory landscape for a more seamless business environment.

Article 11: Repeal of Law No. 26.736

Further streamlining the legal framework involves the repeal of Law No. 26.736. This strategic decision contributes to the simplification of regulations for businesses operating in Argentina.

Article 12: Nullification of Law No. 20.657

The final blow to outdated economic regulations comes with the nullification of Law No. 20.657. This conclusive step solidifies the commitment to a modern and adaptable economic ecosystem.

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Chapter I – Reforms in the Banco de la Nación Argentina (Law No. 21.799)

Article 13: Removal of Article 2 of Law No. 21.799

The evolution of economic regulations extends to the banking sector with the removal of Article 2 of Law No. 21.799. This step is designed to enhance the agility and responsiveness of the Banco de la Nación Argentina.

Chapter II – Credit Cards (Law No. 25.065)

Article 14: Abolition of Sections in Law No. 25.065

Revolutionizing the credit card landscape involves the abolition of Articles 5, 7, 8, 9, 17, 32, 35, 53, and 54 of Law No. 25.065. This strategic move aims to redefine the parameters of credit card operations.

Article 15: Modification of Article 1 of Law No. 25.065

A pivotal change is introduced with the modification of Article 1 of Law No. 25.065. This alteration clarifies the scope and purpose of credit card systems, aligning them with contemporary consumer needs.

Article 16: Amendment of Article 2 of Law No. 25.065

Another crucial modification involves the amendment of Article 2 of Law No. 25.065, redefining the role of entities involved in credit card operations. This change is pivotal for creating a more transparent and accountable system.

Article 17: Revision of Article 4 of Law No. 25.065

A significant revision is witnessed in Article 4 of Law No. 25.065, where the definition of credit cards is refined. This clarity is essential for both users and entities involved in credit transactions.

Article 18: Elimination of Sections in Article 14 of Law No. 25.065

Further refining the legal landscape, Sections c and e of Article 14 of Law No. 25.065 face elimination. This meticulous approach aims to create a streamlined and effective credit card regulatory framework.

Article 19: Replacement of Chapter VI Title and Article 15 of Law No. 25.065

The final touch in this legislative makeover involves the replacement of the Chapter VI title and Article 15 of Law No. 25.065. These changes are geared towards creating a legal framework that aligns with the evolving dynamics of credit card transactions.

In conclusion, Argentina’s bold move to dismantle obsolete economic regulations reflects a commitment to fostering innovation and adaptability. These sweeping changes are poised to redefine the business landscape, making it more conducive to growth and development.

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