On August 6th, 2020, through Resolution No. 33/2020, the Office of Companies of the City of Buenos Aires (the, “OC”) regulated the registration of certain trust agreements in the Public Registry, as long as the following conditions are fulfilled:
- When the appointed trustee has its registered or special domicile in the City of Buenos Aires; or
- When the trust estate consist of (i) shares , quotas or interests of a company registered at the OC, or (ii) industrial or commercial establishments located in the City of Buenos Aires; or (iii) real or personal property located in the City of Buenos Aires. In the case of registrable property not part of an establishment included in (ii) above, prior registration will be required.
Trust agreements related to the public offering of securities are exempted from registration, that is to say, agreements that are under the control of the National Securities Commission.
Prior to registration, the OC will verify compliance with the substantive and formal requirements imposed by the Argentine Civil and Commercial Code.
In case of failure to comply with the registration, the trust agreement will not be enforceable against third parties and will only be a promise to grant it.
This report should not be considered as legal or any other type of advice by Allende & Brea.
