ARGENTINA – COMPANIES LAW

When companies reach certain amount of capital they are under special control from the local PRC, this means that they will have to inform the local PRC in advance of an Ordinary SH Meeting to allow the PRC to send its employees to verify the legal requirements to have a valid a SH meeting, they will also have to have at least 3 directors and a statutory auditor.

Since last Friday the amount of the threshold was changed, the new amount is AR$ 50m.