2020 10.09
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On August 5, 2020, Resolution 34/2020 (the “Resolution”) of the Public Registry of Commerce (PRC) was published in the Official Gazette.

The Resolution establishes that the following legal entities shall include in its administrative body, and when appropriate in its inspection body, a composition respecting gender diversity, and appoint the same number of female members as male members:

(i) Civil associations in the incorporation process.

(ii) Simple associations requesting its registration.

(iii) Companies that are incorporated, included in article 299, of Law No. 19,550, except for those that make public offer of their shares or obligations, the ones which corporate capital is more than 50,000 Argentine pesos or single shareholder corporations.

(iv) Foundations with a directive board for temporary and elective integration.

(v) State-owned Companies

If the number of members to cover was an odd number, the body may be integrated in a mixed way, with a minimum of one third of female members.

In addition, these legal entities are required to complete the provisions of the Resolution, for the appointment of the members of the administrative bodies, and the inspection body, elected at each opportunity of their appointment after the entry into force of said rule.

The Resolution grants the Public Registry of Commerce (PRC) the power to exempt certain companies to comply with its regulations completely, partially, temporary or permanently upon request by issuing founded resolutions. Such exemption might only be grounded on singular, extraordinary, and objective reasons derived from its constitutive background and / or type of formation and / or social activity aimed to achieving its purpose. 

Finally, the PRC explains that the prequalification opinions for the registration of authorities of companies, civil associations and foundations covered by this obligation should include in a special section related to the gender composition of the bodies and indicating the corresponding percentages.

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