Circular LISOL 1 - 451: Modifications to Regulations on 'Guarantees' and 'Minimum Capital of Financial Entities' — BCRA — AR

"2006- Year of homage to Dr. Ramón CARRILLO"
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMMUNICATION “A” 4501 26/02/2006
TO FINANCIAL ENTITIES:
Ref.: Circular
LISOL 1 - 451
Regulations on "Guarantees" and "Minimum Capital of Financial Entities". Modifications.

We address you to inform you that this Institution has adopted the following resolution:

“1. Replace points 1.2.7. of Section 1. and 3.1.20. of Section 2. of the regulations on “Guarantees” with the following:

Section 1.
“1.2.7. Guarantee trusts established in accordance with the provisions of Title I of Law 24.441 with the objective of backing the payment of financing granted for the construction of real estate, provided that, at a minimum, the following requirements are verified:

1.2.7.1. The titleholder cedes to the guarantee trust the real estate on which the construction of the project will take place and the rights and other assets resulting from the execution and completion of the works and their commercialization in fiduciary ownership, to the extent agreed upon in the trust contract.

1.2.7.2. The proceeds from such commercialization shall be destined to the partial or total cancellation of the obligations incurred by the borrower in connection with the financing agreed upon under the terms established in the trust contract.

1.2.7.3. The trustee of the guarantee trust is not the lending financial entity or persons linked to it.

1.2.7.4. The trustee has broad powers to carry out effective control of the tasks foreseen in point 1.2.7.1., as well as to remove from their functions the natural or legal persons who have been designated to carry them out and designate their replacements, in case of non-compliance or poor performance of their functions.

1.2.7.5. The ceded assets are free of encumbrances.

1.2.7.6. In cases where there are other beneficiaries in addition to the lending financial entity, the respective contracts contemplate a clause establishing that in the event of non-compliance, by the borrower, of the payment -partial or total- of the financing granted, the lending/beneficiary financial entity will have priority in collection against the remaining beneficiaries of the trust product.

1.2.7.7. The deed of fiduciary transfer of the encumbered real estate assets and the trust contracts contain a clause by which the settlor grants in advance the required consent in such a way that in the event that the objective conditions of non-compliance contained in the trust contract are verified, the trustee is enabled to dispose of the asset and transfer its full ownership, with the corresponding registry effect.

1.2.7.8. In the Bill of Sale of the assets resulting from the project, whose model will be included in an annex forming part of the guarantee trust contract, it must be indicated through a specific clause that there is fiduciary ownership over the real estate on which the construction is developed, in which the identification data of the trustee of the guarantee trust will be recorded.”

Section 3.
“3.1.20. Guarantee trusts on real estate ceded to the trust (point 1.2.7.):

3.1.20.1. on real estate for housing: 75% of the appraised value of the real estate (land plus work progress).

3.1.20.2. on real estate for uses other than housing ceded to the trust: 50% of the appraised value of the real estate (land plus work progress).”

Replace point 3.1.1.13. of Section 4. of the regulations on “Minimum Capital of Financial Entities” with the following:

“3.1.1.13. Guarantee trusts established with the objective of backing the payment of financing granted for the construction of real estate.

i) for housing.

a) Regarding credit support that does not exceed 75% of the total investment planned for the construction project (land plus work progress). 50

b) For the amount exceeding 75% of the value of the total investment planned. 100

ii) for uses other than housing.

a) Regarding credit support that does not exceed 50% of the total investment planned for the construction project (land plus work progress). 75

b) For the amount exceeding 50% of the value of the total investment planned. 100”

-3-
We send you attached the sheets that, in replacement of those previously provided, correspond to replace in the ordered texts of the regulations on “Guarantees” and “Minimum Capital of Financial Entities”.

Likewise, it is recalled that on this Institution's website www.bcra.gov.ar, accessing “regulations” (“ordered texts”), the modifications made with texts highlighted in special characters (strikethrough and bold) will be found.

We salute you very attentively.
BANCO CENTRAL DE LA REPUBLICA ARGENTINA
Ana María Lemmi José I. Rutman
Submanager of
Norms Issuance
General Submanager of Norms

ANEXO

Included in this category, with the character of exhaustive enumeration, are the following:

1.2.1. First-degree mortgage on real estate, and any degree of priority as long as the entity is the creditor in all degrees.

1.2.2. Fixed pledge with first-degree registration or displacement towards the entity on motor vehicles and agricultural, road, and industrial machinery (to the extent that they are registered in the pertinent national vehicle property registry and have a market that allows obtaining a reference value).

1.2.3. Guarantees or sureties granted by reciprocal guarantee societies registered in the Registry authorized by the Central Bank of the Argentine Republic or by national and provincial funds constituted with the same object as these societies, admitted by this Institution, regardless of the term of the operation, to the extent that the requirement mentioned in point 1.1.15. is not met.

1.2.4. Assets under financial leasing that would have been agreed upon in accordance with the provisions of Law 25.248 on real estate and on motor vehicles and agricultural, road, and industrial machinery (to the extent that they are registered in the pertinent national vehicle property registry and have a market that allows obtaining a reference value).

1.2.5. Export credit insurance, to the extent that the terms for the realization of claims for commercial risk exceed 90 days without exceeding 180 days calculated continuously from the maturity of the credits, regardless of the term of the operation, and the other safeguards provided in point 1.1.16. are observed.

1.2.6. Preferred “A”, in operations with a residual term exceeding 6 months or to the term that is specifically established.

Operations referred to in point 1.1.10. that exceed the term of 6 months are not included.

1.2.7. Guarantee trusts established in accordance with the provisions of Title I of Law 24.441 with the objective of backing the payment of financing granted for the construction of real estate, provided that, at a minimum, the following requirements are verified:

B.C.R.A. GUARANTEES
Section 1. Classes.
Version: 7a. COMMUNICATION “A” 4501
Validity:
26/02/2006

1.2.7.3. The trustee of the guarantee trust is not the lending financial entity or persons linked to it.

1.2.7.5. The ceded assets are free of encumbrances.

1.2.7.7 The deed of fiduciary transfer of the encumbered real estate assets and the trust contracts contain a clause by which the settlor grants in advance the required consent in such a way that in the event that the objective conditions of non-compliance contained in the trust contract are verified, the trustee is enabled to dispose of the asset and transfer its full ownership, with the corresponding registry effect.

1.3. Remaining guarantees.

Guarantees not explicitly included in the preceding points, such as mortgages in a degree other than first and pledges or cautions of shares or commercial documents and encumbrances constituted abroad with adjustment to legislations other than local -except for the cases expressly provided for-, shall be considered non-preferred.

B.C.R.A. GUARANTEES
Section 1. Classes.
Version: 2a. COMMUNICATION “A” 4501
Validity:
26/02/2006

3.1.18.4. Road and industrial machinery: 60% of the appraised value of the asset.

3.1.19. Export credit insurance (points 1.1.16. and 1.2.5.): 100% of the nominal value of the documents.

3.1.20. Guarantee trusts on real estate ceded to the trust (point 1.2.7.):

3.1.20.1. on real estate for housing: 75% of the appraised value of the real estate (land plus work progress).

3.1.20.2. on real estate for uses other than housing ceded to the trust: 50% of the appraised value of the real estate (land plus work progress).

3.2. Partial coverage with preferred guarantees.

When existing preferred guarantees do not cover the total assistance to the client, the part not reached with that coverage will have the treatment established for debts without preferred guarantees.

To this effect, the market value of those assets that have a quotation must be taken into account permanently, as contemplated in points 1.1.1., 1.1.2., 1.1.5. and .1.1.13. of Section 1.

B.C.R.A. GUARANTEES
Section 3. Computation.
Version: 4a. COMMUNICATION “A” 4501
Validity:
26/02/2006

B.C.R.A.
ORIGIN OF THE PROVISIONS INCLUDED IN THE ORDERED TEXT OF THE REGULATIONS ON “GUARANTEES” ORDERED TEXT ORIGINATING REGULATION
Section Point Paragraph Com. Annex Point Paragraph
Observations
1.1. “A” 2932 Unique 1.1. According to Com. “A” 4242
1.1.1. “A” 2216 I 1. 3º, a) According to Com. “A” 2443, “A”
2932, “A” 3918 and “A” 4242.
1.1.2. “A” 2216 I 1. 3º, a) According to Com. “A” 2443, “A”
2932 and “A” 3918.
1.1.3. “A” 2216 I 1. 3º, b) According to Com. “A” 2932,“A”
3918 and “A” 4242 .
1.1.4. “A” 2216 I 1. 3º, c) According to Com. “A” 2932 and “A”
4242.
1.1.5. “A” 2216 I 1. 3º, d) According to Com. “A” 2932.
1.1.6. “A” 2216 I 1. 3º, e) According to Com. “A” 2932,“A”
3918 and “A” 4242.
1.1.7. “A” 2216 I 1. 3º, g) According to Com. “A” 2932.
1.1.8. “A” 2216 I 1. 3º, h) According to Com. “A” 2932.
1.1.9. “A” 2216 I 1. 3º, i) According to Com. “A” 2932.
1.1.10. “A” 2932 unique 1.1.11. According to Com. “A” 3104 and “A”
4242.
1.1.11. “A” 2932 unique 1.1.12. According to Com. “A” 4141.
1.1.12. “A” 2932 unique 1.1.13. According to Com “A” 4242
1.1.13.
1.1.13. 2°
“A” 2932 unique 1.1.14.
According to Com. “A” 3918.
1.1.14. “A” 3114 1.
1.1.14.1. 1° “A” 3114 According to Com. “A” 3918 and “A”
4055.
1.1.14.2. “A” 3114 1. According to Com. “A” 3918 and “A”
4055.
1.1.15. “A” 3141 According to Com. “A” 3307 and “A”
3918.
1.1.16. “A” 3314
1.2. “A” 2932 unique 1.2. According to Com. “A” 3104.
1.2.1. “A” 2419 1. 1º According to Com. “A” 2563 (points

and 2.), “A” 2932 and “A” 3314.
1.2.2. “A” 2448 Statement of debtors (point 6.1.2.2.2.), Com.
“A” 2932 and “A” 3918.
“A” 2448 Statement of debtors (point 6.1.2.2.2.), Com.
“A” 2932 and “A” 3918.
1.2.3.
“A” 2410 7. According to Com. “A” 3141.
1.2.4. “A” 3259 1. According to Com. “A” 3314.
1.2.5. “A” 3314
1.2.6. “A” 2932 unique 1.2.4. According to Com. “A” 4242
1.2.7. “A” 4491 1. According to Com. “A” 4501
1.
1.3. “A” 7 Specifications of the items of “other received guarantees”, modified by Com.
“A” 2932.

GUARANTEES
ORDERED TEXT ORIGINATING REGULATION
Section Point Paragraph Com. Annex Point Paragraph
Observations
2.1. 1º “A” 2448 Statement of debtors (point 6.1.2.2.2.).
2.1. 2º “A” 2932 unique 2.1. 2º
2.
2.2. “A” 2216 I 1. 4º
3.1. “A” 2932 unique 3.1.
3.1.1. “A” 2932 unique 3.1.1. According to Com “A” 3918.
3.1.2. “A” 2932 unique 3.1.2.
3.1.3. “A” 2932 unique 3.1.3. According to Com “A” 3918.
3.1.4. “A” 2932 unique 3.1.4.
3.1.5. “A” 2932 unique 3.1.5. According to Com. “A” 3918 and “A”
4242.
3.1.6. “A” 2932 unique 3.1.6. According to Com. “A” 3918.
3.1.7. “A” 2216 I 1. 3º, g) According to Com. “A” 2932.
3.1.8. “A” 2216 I 1. 3º, h) According to Com. “A” 2932.
3.1.9. “A” 2216 I 1. 3º, i) According to Com. “A” 2932.
3.1.10. “A” 2932 unique 3.1.11. According to Com. “A” 3104.
3.1.11. “A” 2932 unique 3.1.12. According to Com “A” 3918.
3.1.12. “A” 2932 unique 3.1.13.
3.1.13. “A” 2932 unique 3.1.14.
3.1.14. “A” 2419 1. 1º, ii) According to Com. “A” 2932, “A”
3314 and “A” 3918.
3.1.15. “A” 2932 unique 3.1.18. According to Com “A” 3918.
3.1.16. “A” 2932 unique 3.1.19. According to Com. “A” 3141,“A”
3918 and “A” 4242.
3.1.17. “A” 3114 2. According to Com. “A” 4242
3.1.18. “A” 3259 2. According to Com. “A” 3314.
3.1.18.1
.
“A” 3259 2 According to Com. “A” 3314 and “A”
3918.
3.1.18.2
.
“A” 3259 2 According to Com. “A” 3314 and “A”
3918.
3.1.19. “A” 3314
3.1.20. “A” 4491 1. According to Com. “A” 4501
3.
3.2. “A” 2216 II 5° According to Com “A” 3918.

3.1.1.13. Guarantee trusts established with the
objective of backing the payment of financing granted for the construction of real estate.

i) for housing.

a) Regarding credit support that does not exceed 75% of the total investment planned for the construction project (land plus work progress). 50

b) For the amount exceeding 75% of the value of the total investment planned. 100

ii) for uses other than housing.

a) Regarding credit support that does not exceed 50% of the total investment planned for the construction project (land plus work progress). 75

b) For the amount exceeding 50% of the value of the total investment planned. 100

3.1.2. Documentary credits used, except those for deferred payment, whose shipping documentation has not yet been delivered to the client. 50

3.2. To the non-financial public sector.

3.2.1. National Government companies without their express guarantee. 100

3.2.2. Provincial, municipal, and City of Buenos Aires governments and their companies -regardless of legal nature-, which do not have the express guarantee of the National Government or resources from the federal tax sharing system or the Federal Housing System (Law 24.464) through the assignment (direct or indirect) of the corresponding rights and which have the pertinent intervention of the Ministry of Economy and Production of the Nation. 100

MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 9a. COMMUNICATION “A” 4501
Validity:
26/02/2006

3.3. To the financial sector.

Official banks of the Nation -whose operations have the guarantee of the National State-, and banks of provinces, municipalities, and the Government of the City of Buenos Aires, regarding financing that has the guarantee of resources from the federal tax sharing system or the Federal Housing System (Law 24.464), through the assignment (direct or indirect) of the corresponding rights. 50

3.4. With guarantees from banks abroad.

3.4.1. Parent company or controlling bank of the local financial entity or its subsidiaries in other countries and their subsidiaries, always that they are subject to a consolidated supervision regime and that the parent or controlling company is located in countries members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher or in other countries whose central banks or equivalent control authority have signed with the B.C.R.A. agreements on cooperation in banking supervision matters. 0

3.4.2 Other foreign banks with an international risk rating included in the “investment grade” category. 20

3.5. To foreign banks.

3.5.1. Parent company or controlling bank of the local financial entity or its subsidiaries in other countries and to their subsidiaries, always that they are subject to a consolidated supervision regime and that the parent or controlling company is located in countries members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher or in other countries whose central banks or equivalent control authority have signed with the B.C.R.A. agreements on cooperation in banking supervision matters. 0

3.5.2. Others with an international risk rating included in the “investment grade” category. 20

Other credits by financial intermediation.

4.1. For operations with the Central Bank of the Argentine Republic. 0

4.2. Negotiable obligations and other debt securities purchased corresponding to own issuances. 0

Version: 9a. COMMUNICATION “A” 4501
Validity:
26/02/2006

MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.

4.3. Accrued rents receivable from financial leases.

4.3.1. Of real estate for housing of the lessee and motor vehicles. 50

4.3.2. Of other assets. 75

4.4. Forward purchases of national public securities and foreign currency, linked or not to reverse repos, and their corresponding premiums to accrue.

4.4.1. With a coverage margin of 20% or more. 0

4.4.2. With counterparties with an international risk rating included in the “investment grade” category. 0

4.4.3. Others. 20

4.5. Debtors from forward sales of national public securities and foreign currency, linked or not to forward repos.

4.5.1. With a coverage margin of 20% or more. 0

4.5.2. With counterparties with an international risk rating included in the “investment grade” category. 0

4.5.3. Others. 20

4.6. Cash purchases for settlement of securities and foreign currency, and their corresponding premiums to accrue. 0

4.7. Debtors from cash sales for settlement of foreign currency and securities. 0

4.8. Forward purchases of private securities and others, except national public, linked or not to reverse repos, and their corresponding premiums to accrue.

4.8.1. With counterparties with an international risk rating included in the “investment grade” category. 0

4.8.2. Others. 50

4.9. Debtors from forward sales of private securities and others, except national public, linked or not to forward repos.

4.9.1. With counterparties with an international risk rating included in the “investment grade” category. 0

4.9.2. Others. 50

MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 8a. COMMUNICATION “A” 4501
Validity:
26/02/2006

4.10. Overdue operations for cash settlement and forward sales of national public, private, and other securities and foreign currency, linked or not to repos, in which the financial entity has already effectively provided its service and the receipt of the agreed counterparty is pending, regardless of the accounting registration modality used.

4.10.1. With counterparties with an international risk rating included in the “investment grade” category. 20

4.10.2. Others. 100

4.11. Other forward purchases, their corresponding premiums to accrue, and debtors from other forward sales.

4.11.1. With counterparties with an international risk rating included in the “investment grade” category. 0

4.11.2. Others. 50

4.12. Cautions and stock market repos.

4.12.1. Of national public securities.

4.12.1.1. With a coverage margin of 20% or more. 0

4.12.1.2. With other coverage margins. 20

4.12.2. With counterparties with an international risk rating included in the “investment grade” category. 0

4.12.3. Others. 50

4.13. With foreign banks.

4.13.1. Parent company or controlling bank of the local financial entity or with its subsidiaries in other countries and with their subsidiaries, always that they are subject to a consolidated supervision regime and that the parent or controlling company is located in countries members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher or in other countries whose central banks or equivalent control authority have signed with the B.C.R.A. agreements on cooperation in banking supervision matters. 0

MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 7a. COMMUNICATION “A” 4501
Validity:
26/02/2006

4.13.2. Others with international risk rating included in the “investment grade” category. 20
4.14. With the financial sector.
Official banks of the Nation - whose operations are guaranteed by the National State -, and banks of provinces, municipalities, and the Government of the City of Buenos Aires, regarding financings that are guaranteed by resources from the federal tax sharing system or the Federal Housing System (Law 24.464), through the assignment (direct or indirect) of the corresponding rights. 50
4.15. With guarantees from foreign banks.
4.15.1. Parent company or controlling bank of the local financial entity or its subsidiaries in other countries and their subsidiaries, provided they are subject to a consolidated supervision regime and that the parent company or controlling entity is located in countries that are members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher, or in other countries whose central banks or equivalent supervisory authority have signed agreements of cooperation with the Central Bank of the Republic of Argentina (B.C.R.A.) on matters of banking supervision. 0
4.15.2. Other foreign banks with international risk rating included in the “investment grade” category. 20
4.16. Advances and loans to the Deposit Guarantee Fund, linked to the reduction of contributions established by the Central Bank of the Republic of Argentina. 0
5.
Financial lease assets.
5.1. Real estate for the tenant's housing.
5.1.1. On 75% of the value of the assets. 50
5.1.2. On the rest of the financing. 100
5.2. Other real estate.
5.2.1. On 50% of the value of the assets. 75
5.2.2. On the rest of the financing. 100
MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 6a. COMMUNICATION “A” 4501
Validity:
26/02/2006

5.3. Motor vehicles and agricultural, road, and industrial machinery (to the extent that they are registered in the pertinent national motor vehicle property registry and have a market that allows obtaining a reference value), which would have been agreed upon in accordance with the provisions of Law 25.248.
5.3.1. On 75% of the value of motor vehicles and agricultural machinery. 50
5.3.2. On 60% of the value of road and industrial machinery. 50
5.3.3. On the rest of the financing. 100
6. Other non-immobilized assets, except those deductible for the determination of the computable patrimonial responsibility.
6.1. Subject to minimum capital requirements for market risk. 0
6.2. Others.
6.2.1. Shareholdings in the capital of companies in the country and abroad. 100
6.2.2. Shares in common investment funds whose assets are constituted by:
6.2.2.1. National public securities. 50
6.2.2.2. Bonds from agencies or departments of central governments of countries that are members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher. 20
6.2.3. Debt instruments or Certificates of participation in financial trusts issued in foreign currency and with public offering authorized by the National Securities Commission, whose underlying assets are guaranteed by reciprocal guarantee societies registered in the Registry authorized by the Central Bank of the Republic of Argentina or by national and provincial funds constituted with the same object as those societies, admitted by this Institution. 50
6.2.4. Others. 100
MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 11a. COMMUNICATION “A” 4501
Validity:
26/02/2006

Guarantees, sureties, and other contingent liabilities.
7.1. Deferred payment documentary credits whose shipping documentation has not yet been delivered to the client. 50
7.2. For compliance with contractual obligations and/or maintenance of offers. 100
7.3. To the non-financial public sector.
7.3.1. National Government companies without their explicit guarantee. 100
7.3.2. Provincial, municipal, and City of Buenos Aires governments and their companies - regardless of their legal nature -, which do not have the explicit guarantee of the National Government or resources from the federal tax sharing system or the Federal Housing System (Law 24.464) through the assignment (direct or indirect) of the corresponding rights and which have the pertinent intervention of the National Ministry of Economy. 100
7.4. Differences between market and exercise prices when they result in favor of the entity, from rights arising from purchase and sale option contracts.
7.4.1. Covered with guarantee or replacement margins, in institutionalized markets in the country or in countries that are members of the Organization for Economic Co-operation and Development (O.E.C.D.) that have an international risk rating of “AA” or higher. 0
7.4.2. With official banks of the Nation, whose operations are guaranteed by the National State. 50
7.5. Others, except those included in the concept “Fspn”. 100
The international risk ratings required above must be issued by one of the rating agencies admitted under the rules on “Evaluation of Financial Entities”. MINIMUM CAPITAL OF FINANCIAL ENTITIES B.C.R.A.
Section 4. Risk weighting table.
Version: 2a. COMMUNICATION “A” 4501
Validity:
26/02/2006

MINIMUM CAPITAL OF FINANCIAL ENTITIES
ORDERED TEXT
SOURCE STANDARD
Section Point Paragraph Com.
Cap./
Annex
Point Paragraph
Observations
3.5.2.1. “A” 2136 I According to Com. “A” 2541, annex,
criteria, g).
3.5.2.2. “A” 2136 I According to Com. “A” 2541, annex,
criteria, d), 1st paragraph.
3.5.2.3. “A” 2136 I According to Com. “A” 2541, annex,
criteria, b).
1º “A” 2136 I According to Com. “A” 2541, annex, criteria, c).
3.5.2.4.
2º Incorporates interpretative clarification.
3.5.2.5. “A” 2136 I According to Com. “A” 2541, annex,
criteria, i).
3.5.2.6. “A” 2249
3.
3.5.2.7. “A” 2136 I According to Com. “A” 2541, annex,
criteria, k).
1.1. “A” 2136 I According to Com. “A” 2541, annex,
“A” 3274 and “A” 3558.
1.2. “A” 2136 I According to Com. “A” 2541, annex and
“A” 4141.
1.3. “A” 2136 I According to Com. “A” 2541, annex.
1.4. “A” 2136 I According to Com. “A” 2541, annex.
1.4.1. “A” 2192 penultimate
1.4.2. “A” 2290 1st and 2nd
1.5. “A” 2136 I According to Com. “A” 2541, annex.
2. “A” 2136 I According to Com. “A” 2541, annex.
Modified by Com. “A”
2793, 2872, 3039, 3274, 3925,
3959 and 4141. Point 2.2.1. includes interpretative clarification.
3.1.1.1. a
3.1.1.5.
“A” 2136 I According to Com. “A” 2541, annex,
“A” 3925 and “A” 3959.
3.1.1.6. i) “A” 2136 I According to Com. “A” 2632, “A” 2939,
“A” 3314 and “A” 3959. ii) “A” 2136 I According to Com. “A” 2541, annex, “A” 3314 and “A” 3959.
3.1.1.7. “A” 2136 I According to Com. “A” 3314 and “A”
3959.
3.1.1.8. a
3.1.1.10.
“A” 2136 I According to Com. “A” 3959.
3.1.1.11. “A” 2136 I According to Com. “A” 2541, annex,
“A” 3141, “A” 3314 and “A” 3959.
3.1.1.12. “A” 3314
3.1.1.13. “A” 4491 2. According to Com. “A” 4501
4.
3.1.2. “A” 2136 I According to Com. “A” 2541, annex.