Effectiveness and Legislative Procedure Applicable to Emergency Decree 70/2023 ‘Bases for Reconstructing the Argentine Economy’

Emergency Decree 70/2023 (DNU 70/2023), issued by the Government of President Javier Milei, was published in the Official Gazette on Thursday, December 21, 2023.

DNU 70/2023, named "Bases for Reconstructing the Argentine Economy," implements a broad legislative reform to deregulate the economy, which includes repealing and modifying many laws of different areas.

The power of the President to issue Emergency Decrees is contemplated in section 99, paragraph 3 of the Argentine Constitution, which establishes the Legislative Branch must control it. The legislative control procedure is regulated by Law 26122 and is implemented through an opinion of the Permanent Bicameral Commission, which must be submitted simultaneously to both Chambers of Congress (Senators and Deputies). They must either approve or reject the Decree in its entirety. No specific term has been established for the Chambers to vote on the matter.

Law 26122 establishes that Emergency Decrees are in full force and effect after their publication, as from the day they determine, or, if undetermined, after eight days following the day of their official publication. As DNU 70/23 does not establish the specific date it will enter into force, it will become effective on December 29, 2023.

According to Law 26122, DNU 70/23 will remain in force as long as it is not expressly rejected by both Chambers of Congress. If both Chambers rejected it, this would imply the repeal of DNU 70/2023. However, according to Law 26122, the repeal should not affect rights acquired while the DNU was in force. Since the enactment of Law 26122 in 2006, there have been no DNUs rejected by both Chambers of the Congress.

Further to the control by Congress, DNU 70/23 may also be subject to judicial review regarding its constitutionality in cases arising from its entry into force or application.