Circular RUNOR 1 - 113: Prerequisites for Assuming Management and Executive Positions in Financial and Exchange Institutions under Article 10 of Law 21526 and/or Article 4 of Law 18924

CENTRAL BANK OF THE ARGENTINE REPUBLIC

__________________________________________________________________ COMMUNICATION " A " 2106 24/06/93 __________________________________________________________________

TO THE FINANCIAL INSTITUTIONS:

Ref.: Circular
RUNOR 1 - 113.
Prerequisites for the assumption of management and executive positions in financial institutions and exchange institutions for the purposes provided in article 10th. of Law 21526 and/or 4th. of Law 18924.

We are pleased to address you in order to bring to your attention that the Superintendency of Financial and Exchange Institutions of this Institution approved the following resolution:

1- At the time of appointment or renewal of the authorities indicated in articles 10th. of Law 21526 on Financial Institutions and 4th. of Law 18924 for Exchange Houses, Agencies and Brokers, prior to the motion of the respective candidacies, the aforementioned articles must be read and, as applicable, expressly clarifying to those present that no person included in any of the grounds for disqualification provided in the aforementioned rules may be proposed for such positions, a circumstance that must be recorded in the respective meeting minutes.

2- Within 15 business days of completion, financial and exchange institutions must submit to the Central Bank of the Argentine Republic, as applicable, forms 2366 A, B and C, 898, 1113 and 1441 (the latter in triplicate). Within said period, the Central Bank of the Argentine Republic must have the certification issued by the National Registry of Recidivism and Criminal Statistics, processed by the interested parties themselves.

3- In the case of authorities of financial and exchange institutions not resident in the country, form 1441 must be completed by the holder and integrated in the country of their residence including passport data and certification from the respective Ministry of Justice stating whether or not there are records of convictions or judicial proceedings in progress and endorsed by the Argentine Consulate stationed therein, and with which they must personally or through an attorney process the respective certification before the local National Registry of Recidivism and Criminal Statistics. Such documentation must be available at this Central Bank within 20 business days of the respective appointment.

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4- Within 15 business days of the appointment of the external auditor, financial institutions must submit to the Central Bank of the Argentine Republic form 1441 (in triplicate). Also in this case and in that period, this Institution must have the certification referred to in the previous paragraph.

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Oscar A. del Río
Liliana M. Conti
Technical Supervisor
Deputy General Manager of Financial Institutions Organization and Management Area

With copy to the Exchange Houses, Agencies, Office and Brokers.