Circular CIRMO 3 - 49: Cancellable Cheque. Rules on "Monetary Circulation"

"2013 - YEAR OF THE BICENTENNIAL OF THE GENERAL CONSTITUENT ASSEMBLY OF 1813" COMMUNICATION "A" 5385 01/16/2013 TO THE FINANCIAL ENTITIES:
Ref.: Circular
CIRMO 3 - 49
Cancellable cheque. Rules on "Monetary Circulation".

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We address you to inform you that it has been resolved to modify the scope of point 8.1.1.8, of section 8 of the ordered text of the reference, by which legal persons may purchase cancellable cheques in pesos. In this regard, we attach the sheets that must be replaced and/or incorporated into the aforementioned regulation. We greet you attentively. CENTRAL BANK OF THE ARGENTINE REPUBLIC Luis Alberto D’Orio Julio César Pando Principal Manager of Payment Systems and Current Accounts a/c Deputy General Manager of Payment Means a/c
ANNEX

Each CHC issued by the financial entities (EF) in pesos shall be for an amount greater than or equal to $5,000 and less than or equal to $400,000. Each CHC issued by the EF in United States dollars shall be for an amount greater than or equal to US$2,500 and less than or equal to US$100,000.
8.1.1.8. Purchase and sale.
The natural person who purchases a CHC must do so at a financial entity in which they have an account, and consequently a registered signature. The funds used for the purchase of a CHC issued in pesos shall come from a debit to an account. The funds used for the purchase of a CHC issued in United States dollars shall come from a debit to an account or dollar bills. The natural person who cashes the CHC must do so at a financial entity in which they have an account, and consequently a registered signature. The legal person may only purchase CHC by debit to an account in the currency of the CHC and at the financial entity in which it has an account. The legal person that receives a CHC as payment must deposit it at the financial entity where it has an open account. The operations of purchase/deposit/cashing of CHC shall be carried out during public service hours. The intervening financial entities, the legitimized holders and the certifiers may verify the validity of the data of a CHC and that it has no payment impediment, through queries that will be enabled on the BCRA's website.
8.1.2. Security.
8.1.2.1. Paper.
Security paper with a watermark exclusive to Casa de Moneda and security fibers shall be used.
8.1.2.2. Prints.
Visible and invisible security inks shall be used, in Offset and typographic systems and also laser prints, according to the following detail:
Front:

• Two-color security backgrounds with fugitive ink to organic solvents in one
  of the colors.
• Security backgrounds in invisible ink with fluorescence under UV light.
• Blue borders in ink with fluorescence under UV light.
• Microlettering in lines and in vertical borders
  MONETARY CIRCULATION
  B.C.R.A.
  Section 8. Cancellable cheques
  Version: 3rd. COMMUNICATION "A" 5385
  Effective:
  01/16/2013

MONETARY CIRCULATION
ORDERED TEXT SOURCE RULE
Section Point Paragraph Com. Chapter Point Paragraph
Observations
7.5.2. "A" 2539 5th
7.6.1. "A" 2608 1st, 2nd, 3rd and 4th
7.6.1. "A" 2644 1st, 2nd, 3rd and 4th
7.6.2. "A" 2608 5th
7.6.2. "A" 2644 5th
7.7.1. "A" 2656 1st, 2nd, 4th and 5th
7.7.2. "A" 2656 3rd
7.7.3. "A" 2656 3rd
7.7.4. "A" 2656 6th
7.8.1. "A" 2739 1st to 5th
7.8.2. "A" 2739 6th
7.8.2. "C" 20087 1st
7.9.1. "A" 2974 1st to 5th
7.10.1. "A" 3125 1st to 5th
7.10.2. "A" 3125 1st to 5th
7.11.1. "A" 3151 1st to 7th
7.11.2. "A" 3151 1st to 7th
7.12.1. "A" 3186 1st to 7th
7.12.2. "A" 3186 1st to 7th
7.12.3. "A" 3186 1st to 7th
7.13.1. "A" 3248 1st to 7th
7.13.2. "A" 3248 1st to 7th
7.14.1. "A" 3346 1st to 5th
7.14.2. "A" 3346 6th
7.15.1. "A" 3383 1st
7.16.1. "A" 3383 1st
7.17.1 "A" 4137 1st
7.18.1. "A" 4326
7.19.1. "A" 4326
7.20.1. "A" 4456
7.21.1. "A" 4456
7.22.1. "A" 4590
7.23.1. "A" 4650
7.24.1. "A" 4746
7.25.1. "A" 4791
7.26.1. "A" 4829
7.27.1. "A" 4885
7.28.1. "A" 5014
7.29.1. "A" 5017
7.30.1. "A" 5080 According to Com. "A"
5092.
7.31.1. "A" 5084
7.32.1. "A" 5090
7.33.1. "A" 5159
7.34.1. "A" 5353
7
7.35.1. "A" 5354
8.1. Annex
"A" 3201

1. According to Com. "A"
   5130.
   8
   8.1.1. Annex
   "A" 3201
   1.1.8 3rd According to Com. "A"
   5130, 5385