Legal Situation of British Property in Argentina: a report prepared by the Centre for South Atlantic Studies (Buenos Aires)

Extract

In April 1982, when hostilities broke out between the Argentine Republic and Great Britain, both Governments imposed severe reciprocal restrictions upon the assets of their respective citizens and residents. In particular, all financial movements relating to trade were blocked. On the Argentine side, thefirst measures were announced through communiqués from the Central Bank, which were systematized shortlyafterwards by Decrees 683/82, 786/82 and 787/82, and supplemented by various Central Bankresolutions, as well as resolutions from the Ministries of Economy, Defence, Public Works, the Energy Secretariat, the National Customs Administration and the Under Secretariat of Economy. Specifically, thelast named did so by Resolution No. 99/82 (published in the ‘Boletín Oficial’ of 10 May 1982) which suspended ‘temporarily’ the registration of transfers of shares in local companies belonging to investors who — according to the Registry of Foreign Investments — were resident or domiciled in the United Kingdom.