BUENOS AIRES, April 13. (Reuters) - The government of Cristina Fernandez de Kirchner has made it official on Wednesday his decision to have more presence in those directories are private companies which has interests across the state pension administrator, a move that will give you more interference in large companies.
By a Decree of Necessity and Urgency published in the Official Gazette, the Argentine Government has overturned a previous rule that limited to five per cent representation of the National Social Security (ANSES) on corporate boards. "A literal application of that restriction is not compatible with a harmonious integration rules," the decree.
"In the instant case, the conflict of interests which the regime sought to exclude repealed is nonexistent, watch the protective nature (defender) who assumes the Federal Government for investments to ensure those provided by social security," he adds. ANSES owns shares in 42 companies, including Banco Macro - the second largest private bank locally owned - operator Telecom Argentina, the steel giant Siderar and energy conglomerate Pampa.
The shares were inherited by Anses in October 2008, when Argentina nationalized the private pension system and Fernandez decided that investments in stocks that had the whole pension fund managers, private pass to the state orbit. The extinct private administrators of retirement funds not involved on the boards of the societies in which they participated.
In announcing the decision Tuesday night, the Minister of Economy, Amado Boudou, said the measure "is retrieved right as a shareholder of ANSES you have in all companies." 
By a Decree of Necessity and Urgency published in the Official Gazette, the Argentine Government has overturned a previous rule that limited to five per cent representation of the National Social Security (ANSES) on corporate boards. "A literal application of that restriction is not compatible with a harmonious integration rules," the decree.
"In the instant case, the conflict of interests which the regime sought to exclude repealed is nonexistent, watch the protective nature (defender) who assumes the Federal Government for investments to ensure those provided by social security," he adds. ANSES owns shares in 42 companies, including Banco Macro - the second largest private bank locally owned - operator Telecom Argentina, the steel giant Siderar and energy conglomerate Pampa.
The shares were inherited by Anses in October 2008, when Argentina nationalized the private pension system and Fernandez decided that investments in stocks that had the whole pension fund managers, private pass to the state orbit. The extinct private administrators of retirement funds not involved on the boards of the societies in which they participated.
In announcing the decision Tuesday night, the Minister of Economy, Amado Boudou, said the measure "is retrieved right as a shareholder of ANSES you have in all companies."
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