Circular CAMEX 1-953: Foreign Exchange and Changes. Adjustments

"1983/2023 - 40 YEARS OF DEMOCRACY"
COMMUNICATION "A" 7700 16/02/2023
TO FINANCIAL ENTITIES,
TO FOREIGN EXCHANGE OPERATORS:
Ref.: Circular
CAMEX 1-953:
Foreign Exchange and Changes. Adjustments
___________________________________________________________________________ We address you to inform you that the Superintendent of Financial and Foreign Exchange Entities adopted the resolution that, in its pertinent part, establishes:

"- Delegate the powers to order and lift the precautionary measures provided for in Article 17, subsection a), paragraphs 1) to 3) of the Foreign Exchange Criminal Regime, ordered text 1995, in the holders of the Main Control Department and the Main Litigation Affairs Department, according to the status of case registration."

Likewise, we send you the sheets that, in replacement of those previously provided, must be incorporated into the norms of reference. In this sense, it is recalled that on the website of this Institution www.bcra.gob.ar, accessing "Financial System - LEGAL AND REGULATORY FRAMEWORK - Orders and summaries - Ordered texts of general regulations", the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We greet you attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Rubén D. Narduzzi José L. Dubini
Main Manager of
Litigation Affairs
Main Manager of
Control

ANNEX

• Index -
  10.4. Payments for imports of goods with pending customs entry registration.
  10.5. Monitoring of payments for imports with pending customs entry registration.
  10.6. Other provisions.
  10.7. Commercial credit lines of financial entities applied to the financing of imports.
  10.8. Cancellation abroad of debts arising from the Argentine import of goods that do not qualify as commercial debts.
  10.9. Other purchases of goods from abroad.
  10.10. Detail of the tariff positions referred to in points 10.3.2.5 and 10.3.2.6.
  10.11. Complementary provisions.
  10.12. Expansion of the amount provided for in point 10.11. from the settlement of export advances and pre-financing from abroad.
  10.13. Requests for conformity pursuant to what is provided in point 10.11.
  10.14. Category of declarations in the Integrated Import Monitoring System (SIMI).
  Section 11. Import payment monitoring system (SEPAIMPO).
  11.1. Monitoring of import officializations.
  11.2. Monitoring of import payments made prior to customs entry registration.
  Section 12. Foreign Exchange Criminal Regime - Precautionary Measures.
  Section 13. Legal provisions that determine the general structure of the foreign exchange market.
  13.1. Articles 1° and 2° of Decree No. 260/02.
  13.2. Articles 1°, 2° and 3° of Decree No. 609/19.
  Correlation table

B.C.R.A. ORDERED TEXT OF THE NORMS ON
"FOREIGN EXCHANGE AND CHANGES"
Version: 4th COMMUNICATION "A" 7700 Validity:
17/02/2023 Page 4

The powers to order and lift the precautionary measures provided for in Article 17, subsection a), paragraphs 1) to 3) of the Foreign Exchange Criminal Regime, ordered text 1995, are delegated to the holders of the Main Control Department and the Main Litigation Affairs Department, according to the status of case registration.

B.C.R.A. FOREIGN EXCHANGE AND CHANGES
Section 12. Foreign Exchange Criminal Regime - Precautionary Measures.
Version: 1st COMMUNICATION "A" 7700 Validity:
17/02/2023 Page 1

The pertinent part of the legal provisions that determine the general structure of the foreign exchange market is transcribed below:

13.1. Articles 1° and 2° of Decree No. 260/02.
" ARTICLE 1°.- (Article substituted by art. 132 of Law No. 27444 B.O. 18.6.18) A free foreign exchange market is established through which foreign exchange operations carried out by financial entities and other persons authorized by the Central Bank of the Argentine Republic to permanently or habitually engage in the trade of buying and selling foreign currencies and banknotes, minted or bar gold of good delivery, traveler's checks, drafts, transfers or analogous operations in foreign currency shall be conducted.

ARTICLE 2°.- Foreign exchange operations in foreign currencies shall be carried out at the freely agreed exchange rate and must comply with the requirements and regulations established by the CENTRAL BANK OF THE ARGENTINE REPUBLIC."

13.2. Articles 1°, 2° and 3° of Decree No. 609/19.
" ARTICLE 1°.- (Article substituted by art. 1° of Decree No. 91/19 B.O. 28.12.19) It is established that the countervalue of the export of goods and services must be brought into the country in foreign currency and/or traded in the foreign exchange market under the conditions and deadlines established by the CENTRAL BANK OF THE ARGENTINE REPUBLIC.

ARTICLE 2°.- The CENTRAL BANK OF THE ARGENTINE REPUBLIC, pursuant to its Organic Charter, shall establish the circumstances in which access to the foreign exchange market for the purchase of foreign currency and minted precious metals and transfers abroad will require prior authorization, based on objective guidelines based on the prevailing conditions in the foreign exchange market and distinguishing the situation of natural persons from that of legal entities.

ARTICLE 3°.- The CENTRAL BANK OF THE ARGENTINE REPUBLIC is authorized to establish regulations that prevent practices and operations aimed at evading, through public titles or other instruments, what is provided for in this measure."

B.C.R.A.
FOREIGN EXCHANGE AND CHANGES
Section 13. Legal provisions that determine the general structure of the foreign exchange market.
Version: 3rd COMMUNICATION "A" 7700 Validity:
17/02/2023 Page 1

FOREIGN EXCHANGE AND CHANGES
ORDERED TEXT SOURCE NORM
OBSERVATIONS Section Point Para. Com. Cap./
Annex Point Para.
12. "A" 7700
13.
13.1. "A" 6844
13.2. "A" 6844 According to Com. "A" 6862 (Decree No.
91/19).

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