Circular Foreign Exchange Operations and Movement of Funds and Securities with the Abroad - CAMEX 1 - 36

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 199 06/08/82
TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE, EXCHANGE HOUSES AND AGENCIES, AND FOREIGN EXCHANGE BROKERS:
Ref.: Circular FOREIGN EXCHANGE OPERATIONS AND MOVEMENT OF FUNDS WITH THE ABROAD - CAMEX - 1 - 36

We address ourselves to you to inform you that, complementing the provisions made known by Communication “A” 135 of 6.7.82, the intervening entities may directly process through the Foreign Exchange Financial Market the following operations:

2.2.12. Scholarships and study expenses. Up to an amount of USD 300 per calendar month and beneficiary. The applicant for the operation shall expressly state in the respective sworn declaration that the transfer, added to those that may have been made to the same beneficiary during the current month under this or any other concept, does not exceed the indicated limit of USD 300.

2.2.13. Family aid. Up to USD 200 or its equivalent in other currencies per applicant or beneficiary and per calendar month.
They may be carried out only when the beneficiary is a spouse, father, mother, son or brother, under 18 years of age or permanently incapacitated, of the applicant. Remittances in favor of beneficiaries with another degree of kinship relative to the applicant may only be carried out when their habitual nature is demonstrated convincingly with a minimum prior period of one year.

2.2.14. Retirement benefits and pensions, whose beneficiaries residing abroad receive their benefits in accordance with the provisions of the respective Pension Fund.

2.2.15. Medical treatment abroad.
They will be carried out once per person, up to USD 5,000 or its equivalent in other currencies, via transfer abroad. For the realization of eventual subsequent remittances, Authorized Entities must request authorization in form 4008 D, indicating the number, date and bank of the sworn declaration corresponding to the aforementioned operation and attaching the invoices corresponding to the expenses being paid and certification from the institute or medical professional providing the care, in which the estimated expenses to be incurred are stated, such documentation must be countersigned by the respective Argentine Consulate.

2.2.16. Purchase of medicines by individuals.

2.2.17 Commissions of representatives or sales agents, for Argentine exports.
Up to usual limits according to

• 2 -
  the nature of the product being exported, cannot exceed 6% of the FOB value in the case of traditional products and up to 10% for promoted ones. In no case may they act as a reduction of the declared FOB value in the respective shipping permit.

2.2.18. Travel expenses abroad. Foreign exchange sales will be made against presentation of
Argentine identity document and the respective ticket, the latter being endorsed, making a record of the amount of foreign currency sold. When applicable, a passport must also be presented, which will also be endorsed by the foreign exchange sale.

They can only be carried out with an advance of up to 5 business days before the traveler's departure date.
In the case of cancellation of tickets, transport companies will verify, previously, that the holder has returned to the foreign exchange market the sum in foreign currency acquired and for which he/she is affected.

The sums to be granted for the indicated concept will be the following: South American countries, non-bordering: up to USD 50 per day of trip duration and a maximum of USD 500, per calendar year (10% of the sum in bills or traveler's checks). Other countries, non-bordering: up to USD 100 per day of trip duration and a maximum of USD 2,000, per calendar year (10% of the sum in bills or traveler's checks). To determine, in both cases, the established annual maximum, operations carried out from the date until December 31, 1982 must be counted for the current year.

Transfers abroad to any country must be made in favor of the traveler, with instructions to the paying correspondent to effect payment only upon presentation by the beneficiary. In the case of trips to countries with Reciprocal Credit Agreements, these will be carried out through the respective accounts. Travelers who leave in compliance with official missions entrusted by National, Provincial or Municipal Departments, State Companies, and Companies with State participation, when per diems or other exchange uses are assigned to them to cover their expenses abroad, may not use the transfer for travel expenses. The same rule will apply to scholars or students, for whose stay expenses the provisions provided for in section 2.2.12 govern.

2.2.19. To process the foreign exchange sales referred to in the sections detailed below, the following evidence will be required:

2.2.12. Certification issued by the respective Study House, countersigned by the Argentine Consulate.

2.2.14. Certification from the corresponding Pension Fund accrediting that the
beneficiary has authorization to receive their benefits abroad.

B.C.R.A. COMMUNICATION “A” 199 6.8.82

2.2.15. Certification from the Ministry of Public Health and Environment indicating confirmation of the medical diagnosis and the need to carry out the
medical treatment abroad and its duration.

2.2.16. Certification authorizing the entry of the medicine into the country, issued by the
Ministry of Public Health and Environment.

2.2.20 Authorized entities: The intervening entities must take into account when processing
foreign exchange sales, as established by the general character provisions, the characteristics of each operation, the amount, its purpose, the solvency of the applicants, in such a way that it is conclusively determined regarding the genuineness of the transaction and the reasonableness of the amounts, all in concordance with the purpose of achieving the good outcome of the operations and facilitating their realization within a context of a real market.

We salute you very attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Jorge E. Magistrelli
Manager of
Foreign Affairs and Exchange
Pedro Camilo López
General Manager