Circular 12-47: Requirements for Investment Companies Regarding Administrative Powers Documentation

Insurgentes Sur No. 1971, Plaza Inn, Col. Guadalupe Inn C.P. 01020, Delegación Álvaro Obregón, Ciudad de México. Tel.: 5255 1454-6000 www.gob.mx/cnbv México, D.F., July 10, 2003. CIRCULAR 12-47 TO INVESTMENT COMPANIES:

The Bank of Mexico, through official letter S04/111-2003 dated July 8, 2003, forwarded to this Commission its Circular 5/2003 issued on the same day, which is transcribed below for your information and compliance:

PROVISIONS ISSUED BY THE BANK OF MEXICO DIRECTED AT INVESTMENT COMPANIES.
The Bank of Mexico, based on the provisions of articles 24, 26, and 36 of its Law, as well as article 15 of the Investment Companies Law and resulting from the inquiries made by various investment companies regarding the provisions established in Circulars 3/2003 and 4/2003, informs them that to comply with the aforementioned Circulars, they must send to the Operational Processing Department of this Central Bank, attached to the communication indicated in Circular 3/2003, the authenticated transcript or certified copy of the instrument containing the powers for administrative acts of the officials who sign such communication, as well as a simple copy.

The foregoing, with the aim that this Central Bank, once the respective review and verification have been made, returns to those companies the authenticated transcript or certified copy in question, as applicable.

Circulars 3/2003 and 4/2003 of the Bank of Mexico were made known through our Circulars 12-45 and 12-46, respectively.