Regulation of the bank current account: Cheques drawn by electronic means (ECHEQ) - Adjustments

2019 - YEAR OF EXPORT

COMMUNICATION “A” 6725
28/06/2019

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
OPASI 2 - 569
RUNOR 1 - 1472

“Regulation of the bank current account”. Cheques drawn by electronic means (ECHEQ). Adjustments.

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

“1. Replace points 1.4.5. to 1.4.6., 1.5.1. to 1.5.2., 2.2., 2.4., 3.1., 3.2.1.2., 3.2.1.7., 3.3. (title), 3.3.4., 3.3.8.5., 3.4., 3.5., 4.1. (title), 4.2. (title), 4.3., 4.5., 5.1.2., 5.1.4., 5.1.7., 5.4., 5.5., 6.1.3.1., 6.4.1. (first paragraph), 6.4.3., 7.2.2. (first paragraph), 7.3.1. to 7.3.2., 8.3., 10.1. (first paragraph) and 10.2.1. of the rules on “Regulation of the bank current account” with the contents in the annex that forms part of this communication.

2. Incorporate as point 2.5. in the rules on “Regulation of the bank current account” the following:

“2.5. Scheme of responsibilities for the drawing of cheques by electronic means.

For the purposes of the application of the procedure provided in point 3.5., the scheme of responsibilities included in the agreements formalized between financial institutions must be observed, by application of the Cheques Law and regulatory rules issued by the BCRA.”

3. Leave without effect point 2.2. of the rules on “Communication by electronic means for the care of the environment”.”

On the other hand, we point out that the provisions previously disseminated through Communication “A” 6578 are incorporated in points 3.5. and 5.1.1.

Finally, we send you the sheets that, in replacement of those previously provided, must be incorporated in the rules on “Regulation of the bank current account” and “Communication by electronic means for the care of the environment”. In this regard, it is recalled that on the page of this Institution www.bcra.gob.ar, by accessing “Sistema Financiero - MARCO LEGAL Y NORMATIVO - Ordenamientos y resúmenes - Textos ordenados de normativa general”, 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

Darío C. Stefanelli
Senior Issuance Manager and
Aplicaciones Normativas

Agustín Torcassi
Subgerente General de Regulación Financiera

ANNEX

B.C.R.A.
REGULATION OF THE BANK CURRENT ACCOUNT
Annex to
Com. “A”
6725

Section 1. Operation.

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1.4. Conditions.

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1.4.5. Registry of signatures.

The entity shall require, with the precautions it establishes, that the account holder or holders and the persons authorized to operate in it stamp in their own handwriting, on cards or special forms or legally authorized substitutes, the signatures that the cheques they issue or the instructions they give in paper format will bear.

For this purpose, the unification of the registry on a single card, special form or legally authorized substitute shall be admitted for all accounts opened by the same holder.

If the drawing of cheques by electronic means (ECHEQ) is foreseen, evidence of acceptance of the security elements intended for this purpose must be obtained, as well as of the commitment to safeguard them, and to recognize and not repudiate any ECHEQ drawn through the use of those elements, without prejudice to the eventual application of the grounds for rejection provided in Section 6.

The same formalities shall be required with respect to all persons authorized to draw against the account.

1.4.6. Delivery of cheque books and authorization to draw ECHEQ.

Once the account is enabled through the agreed initial deposit or the corresponding overdraft authorization, the entity shall deliver to the current account holder, under receipt, cheque books, in accordance with applicable regulations.

Such books may consist exclusively of common or deferred payment cheque forms, or contain both types of documents.

If the aforementioned book is not personally collected by the account holder, the drawee shall not pay the cheques drawn in paper format that are presented for collection (whatever their class) nor register the deferred payment cheques drawn in that format that are presented to it for such purposes, if its conformity regarding receipt of the aforementioned element is not available.

The drawee entity shall proceed to reject for formal defect each of the cheques contained in the cheque book for which the holder's conformity regarding its receipt has not been received.

Cheque books shall be delivered in quantity and/or the drawing of ECHEQ shall be authorized for a maximum global amount, as applicable, based on what the client requests and to the extent justified by the movement of the account. In the case

BANCO CENTRAL
DE LA REPÚBLICA ARGENTINA

of the ECHEQ, the drawee entity shall inform the drawer of the total authorized amount and the amount available.

1.5. Operational aspects to be included in the current account contract.

In its clauses, at a minimum, provision shall be made for:

1.5.1. Obligations of the current account holder.

1.5.1.1. Maintain sufficient provision of funds or have the corresponding written authorization to overdraw so that the entity honors the common cheques drawn against the account and, otherwise, not issue them departing from the conditions agreed in writing.

In the cases of deferred payment cheques, their drawing shall be conditioned on the existence of an adequate provision of funds or an agreement to overdraw at the time of maturity, also formalized in writing.

1.5.1.2. Upon receiving the statements, send the entity its conformity with the balance or the observations that may be applicable, within the term established in point 1.5.2.3.

1.5.1.3. Update the registered signature whenever the entity deems it necessary.

1.5.1.4. Notify the entity, in writing, of the loss, theft or adulteration of blank check forms or of checks drawn in paper format and not delivered to third parties or of the special form to request them, as well as of the transferable registered certificates of deferred payment checks, according to the procedure established in point 7.2.

It must proceed in the same manner when it becomes aware that a check in paper format already issued has been lost, stolen or altered. The notice may also be given by the dispossessed holder.

When dealing with checks drawn by electronic means, notify the drawee entity in case of detecting their adulteration or apocryphal issuance, according to the procedure provided in point 7.2. and operating instructions established for these cases.

1.5.1.5. Notify the entity, in writing, of any change of address or contact email and return the checkbooks showing the previous address.

1.5.1.6. Communicate to the entity any modification of its corporate contracts, bylaws, change of authorities or powers and the revocations of the latter, in particular when it refers to the persons mentioned in point 1.3.2.6.

1.5.1.7. Return to the entity all blank checks in its possession at the time of requesting the closure of the account or within 5 business days from the date of having received the communication of the suspension of the check payment service as a prior measure to the closure of the account or of the closure of the account.

1.5.1.8. Integrate the checks in pesos, draft them in the national language and sign them in
handwriting or by the alternative means that are authorized.

Checks bearing more than 3 signatures will not be accepted.

1.5.1.9. Safeguard the security elements agreed for the drawing, visualization and/or management of ECHEQ, preventing their use by unauthorized persons or under unauthorized conditions.

1.5.1.10. Use the security elements and procedures agreed for the drawing, management and deposit of ECHEQ solely to draw, deposit and/or manage them in accordance with the applicable rules and agreements.

1.5.1.11. Not to disavow the ECHEQ drawn through the use of the security elements and procedures agreed for that purpose.

1.5.1.12. Not to disavow the deposit or operation carried out with an ECHEQ that is effected through the use of the security elements and procedures agreed for that purpose.

1.5.1.13. Authorize that, in the event of admitting that its deferred payment checks are susceptible to stock exchange trading, financial entities provide the data related to said checks that are indicative of a passive operation, releasing them from the obligation of secrecy and confidentiality referred to in the laws on Financial Entities (arts. 39 and 40) and on Personal Data Protection (Law 25.326 and amendments).

1.5.2. Obligations of the entity.

1.5.2.1. Keep the accounts up to date.

1.5.2.2. Credit on the same day the amounts delivered to it for the credit of the current account and the deposits of checks within the current compensation periods.

1.5.2.3. Send to the current account holder, at most 8 calendar days after the end of each month and/or the shorter period that is established and under the conditions agreed, a statement with the detail of each of the movements made in the account –debits and credits–, whatever their concept, identifying the different types of transaction by means of a specific code that each entity implements for that purpose and the balances recorded in the period covered, requesting their written conformity. The corresponding statement must also identify operations carried out on own account or on behalf of third parties, to the extent that they are check deposits for amounts greater than $ 1.000 and that they are identified by the corresponding endorsement, through the single procedure that each entity chooses to apply for that purpose.

Additionally, the statement shall state the uniform banking code (CBU) so that the client can apply for automatic debit services, the current compensation period for the operation of depositing checks and other compensable documents and the total amount debited in the period under the concept of “Tax on financial transactions”.

BANCO CENTRAL
DE LA REPÚBLICA ARGENTINA

In that account statement or summary, the entities shall additionally report the following minimum data:

i) If debits corresponding to the automatic debit service occur:

− Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.

− Identification of the client in the company or entity (surname and name or code or account, etc.).

− Concept of the operation causing the debit (month, two-month period, installment, etc.).

− Amount debited.

− Date of debit.

ii) If transfers are made:

a) When the account corresponds to the originator of the transfer:

    − Discretionary information at the discretion of the originating company or individual.

    − Amount transferred.

    − Date of the transfer.

b) When the account corresponds to the receiver of the transfer:

    − Name of the originating person or company.

    − CUIT, CUIL or DNI number of the originator.

    − Unique reference of the transfer. When dealing with transfers originated by the Administración Nacional de la Seguridad Social, which respond to the concept “family allowances”, the legend “ANSES SUAF/UVHI” must be recorded in the account statements (or in the movement receipts issued through ATMs) of the respective beneficiaries.

    − Total amount transferred.

    − Date of the transfer.

Conformity with the movement recorded in the bank shall be presumed if, within 60 consecutive days from the expiration of the respective period, the filing of a claim has not been submitted to the financial institution.

When interest on credit balances is recognized, the nominal and effective rates, both annual, corresponding to the reported period shall be informed.

In addition, the corresponding legend to be included regarding the gua- rantee of deposits shall be stated, as provided in point 6. of the rules on "Application of the deposit guarantee insurance system" and, in the place determined by the institution, the tax identification key number (CUIT, CUIL or CDI) of the account holders, according to the depositary's records. It shall be obligatory to record the data of up to three of its holders; when they exceed said number, the total quantity shall also be indicated.

1.5.2.4. Send to the account holder, when the deferred payment check modality is used, information containing at minimum, in addition to the fund movements already verified, a detail of the outstanding ECHEQ issued pending payment and the checks issued in paper format registered, stating their due date and amount, subject to the conditions stipulated in point 1.5.2.3.

1.5.2.5. Inform the current account holder of the balance recorded in the corresponding accounts at the institution's offices and/or at the places indicated by the holders, such communication being able to be made through electronic means.

1.5.2.6. Pay at sight –except in the cases referred to in point 1.5.2.8., second paragraph– the checks issued by the current account holder, in accordance with the legal and regulatory provisions in force at the date of issuance of the check, taking into account, regarding presentation periods, those established in article 25 of the Check Law.

In the case of deferred payment checks, that period shall be computed from the payment date stated on the check.

1.5.2.7. Adopt the necessary procedures to make the payment of checks, assuming the pertinent legal responsibilities in the case of those incorrectly paid.

In the case of checks issued by electronic means or included in the truncation operation, observe the guidelines contained in the agreements formalized between the institutions.

1.5.2.8. Identify the person presenting the check at the window, including when it is issued to bearer, whose signature, clarification and domicile, and the type and number of identity document that corresponds in accordance with the provisions of point 1.3.1.9., must be recorded on the back of the document.

Checks –common or deferred payment– extended to bearer or in favor of a determined person, for amounts exceeding $ 50.000, shall not be paid in cash. This restriction shall not apply in the following cases:

i) Checks issued in favor of the holders of the accounts on which they are drawn, exclusively when presented to the drawee institution by themselves.

ii) Securities in favor of third parties destined for the payment of salaries and other habitual remunerations for amounts that comprise the salary payroll as a whole, for which the drawer must extend, on each occasion, a certification stating expressly the purpose of the issuance, which shall be filed at the institution.

1.5.2.9. Verify –both in checks issued in paper format and in certi-
fied transferable nominative certificates– the regularity of the series of endorsements but not the authenticity of the signature of the endorsers and verify the signature of the presenter, which must be inserted as a receipt.

These obligations fall on the drawee institution when the check is presented for collection at it, while the institution in which the check is deposited –when different from the drawee– is responsible for controlling that the last signature extended as a receipt contains the specifications set in point 5.1.3., unless the truncation procedure is applicable, in which case the provisions of the respective agreements shall be followed.

When the presentation is made through an agent or beneficiary of an ordinary assignment, the instrument by which the mandate was granted or the assignment made must also be verified, except when the collection management is carried out by a financial institution not authorized to take deposits in current account.

1.5.2.10. Modifications in the agreed conditions –including the amount of commissions and/or charges– must be made in accordance with the provisions of point 2.3.4. of the rules on "Protection of users of financial services".

Funds debited improperly for commissions and/or charges must be refunded to the holders in accordance with the provisions of point 2.3.5. of the rules on "Protection of users of financial services".

1.5.2.11. Inform the BCRA of check rejections for formal defects, rejections of the registration of deferred payment ones, as well as those produced by insufficient provision of funds in account or by not having authorization to overdraw and the fines paid by the responsible parties.

For cases in which the fines have been paid and an erroneous notification is made to the BCRA, which determines the automatic disqualification of the client, it must be provided in the contracts that the institution shall compensate the client for the expenses caused by the solution of such situation through its credit in the client's account, estimating that this should not be less than one time the amount of the fines in question. Said payment does not exempt the institution from the civil responsibilities that may correspond in its relationship with the client.

1.5.2.12. Use the procedures established in the respective operating guide to send to the BCRA, on the dates and in the manner indicated, the reports referred to in point 1.5.2.11.

In said reports, the CUIT or CUIL or CDI, as applicable, must be mentioned.

The data supplied, referring to each of the situations provided for in said point, may not have an age greater than the 10 banking business days prior to the due date for that submission.

1.5.2.13. Take the necessary measures to ensure that the account hold-
er has received the checkbook requested and/or accepted the rele- vant security elements when the use of checks to be drawn by elec- tronic means is foreseen.

1.5.2.14. Reverse debited transactions, upon the express instructions of the account holder, related to the automatic debit system for the payment of taxes, public or private utility bills, credit card statements, etc., that comply with the terms set forth in point 1.5.4.2., in accordance with clauses that must be included in the agreement to adhere to the system.

In the agreements that financial institutions enter into with their clients to adhere to automatic debit systems, a clause must be included that provides for the possibility of the client ordering the suspension of a debit up to the business day prior – inclusive – to the due date and the alternative of reversing debits for the total amount of each transaction, upon an express instruction from the client, within 30 calendar days counted from the date of the debit. The refund shall be made within the 72 business hours following the date on which the institution receives the client's instruction, provided that the originating company of the debit and only in cases where the amount of the requested reversal exceeds $ 750, does not oppose the reversal because the billing difference has been made effective directly.

In the case of credit card settlements of open systems, in lieu of the aforementioned reversal procedure, institutions shall have implemented mechanisms that allow users to manage through them the reversal of slips included in the settlements and the refund of the relevant amounts that have been debited.

1.5.2.15. Notify the account holder, when magnetic cards are delivered for use in carrying out transactions with ATMs, of the recommendations and precautions that must be taken to ensure their correct use, as provided in point 12.1.

1.5.2.16. Ensure that the ECHEQ is drawn without formal defects and in accordance with the agreed security mechanisms.

1.5.2.17. Ensure the correct functioning of the agreed security mechanisms for the drawing and/or management of ECHEQ and for their data, preventing their use by unauthorized persons or under unauthorized conditions.

1.5.2.18. Transmit to the repository in their entirety the ECHEQ and all related updates, using the procedures and means established for this purpose.

1.5.2.19. Print the certificates for civil actions of rejected ECHEQ and deliver them to the legitimate holder or their duly accredited representative, upon request, keeping proof of delivery and, where applicable, of the recipient's standing.

Section 2. Movement of accounts.

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2.2. Debits.

2.2.1. For payment of checks. In the case of accounts in the name of legal entities that do not have checkbooks, provision must be made for the debit for the payment of "teller checks" to their legal representatives or persons authorized to operate them. Debits for the sale of "counter checks" and "financial payment checks" issued by the bank and for "cancellation checks" will also be contemplated.

2.2.2. Transfers, which must be ordered by the account holder, regardless of their form – personal, electronic, telephone, via "Internet", etc. –.

2.2.3. Internal debits, which, where applicable, shall be admitted under the conditions referred to in point 1.5.4.

2.2.4. Withdrawals through ATMs and transactions carried out through terminals at points of sale.

Institutions shall have implemented computer security mechanisms that guarantee the genuineness of transactions.

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2.4. Check truncation. Granting of reciprocal mandate.

For the purposes of applying the check truncation procedure for the payment of documents processed through the electronic funds clearing chambers, based on the agreements formalized between institutions, it shall be understood that they have granted each other a reciprocal mandate regarding the fulfillment of the obligations incumbent upon them as drawee institutions, by application of the Check Law and the regulatory provisions issued by the BCRA.

Section 3. Checks.

3.1. Characteristics.

They shall contain the essential statements required by articles 2°, 4° and 54 of the Check Law and shall comply with the provisions of the BCRA.

3.2. Instruments that lack value as checks.

An instrument in respect of which any of the following situations, exhaustively enumerated below, occurs shall not be valid as a check:

3.2.1. Lack of any of the specifications contained in articles 2°, items 1 to 6, 4°, 23 and 54, items 1 to 9, of the Check Law, namely:

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CENTRAL BANK OF THE ARGENTINE REPUBLIC

3.2.1.2. The serial number, printed on the body of the check drawn in paper format
or incorporated into the data of the check drawn by electronic means.

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3.2.1.7. The signature of the drawer, except when the means established for
this purpose are used.

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3.3. Reproduction of digitized signatures for drawing checks in paper format.

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3.3.4. Register of authorized persons.

The institution shall keep an updated register of the persons authorized in the current account to issue checks in paper format using electronic systems for the reproduction of digitized signatures. In this regard, the necessary security measures must be adopted to prevent the improper use of the information contained in the aforementioned register.

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3.3.8. Details of the application.

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3.3.8.5. Additional elements.

− Model of the mutual subscription contract to be entered into between clients holding current accounts and the bank to issue checks in paper format using electronic signature reproduction systems.

− Model of the bank's commitment letter by which it will inform current account holders of the different numbering ranges to be assigned to predetermined quantities of checks, with evidence of acceptance by said holders.

− Where applicable, model of the power of attorney by which current account holders authorize bank officials to issue checks on their account and order.

− In the event that, within the methodology to be used, there are tasks delegated to third parties, the bank's written commitment (signed by the same functional level indicated in point 3.3.7.) to assume full responsibility for the use made by such third parties of the digitized signatures of officials authorized to issue checks using electronic reproduction technology must be attached.

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3.4. Electronic deposit of checks.

Checks (ordinary or deferred payment) drawn in paper format presented electronically for collection and whose image has been captured by the client must bear on the

front and back of the physical document the following expression: “presented electronically for collection”.

3.5. Checks drawn by electronic means (ECHEQ).

3.5.1. To the extent not otherwise provided for and insofar as they are not incompatible with the specific provisions established for ECHEQ, these rules shall apply, depending on whether the check is an ordinary or deferred payment check.

Financial institutions that operate with any of the types of demand deposit accounts that accept the deposit of checks shall adopt the mechanisms –own or through third parties– necessary for their clients to be able to deposit ECHEQ.

3.5.2. Drawing, endorsement, guarantee.

ECHEQ may be drawn in favor of a specified person –whether or not they bear the “not to order” clause–, in accordance with the provisions of these rules and the operational instructions issued as a complement.

The signature requirement shall be satisfied if any electronic method is used that undeniably ensures the externalization of the drawer's intent and the integrity of the instrument, the reliability of the issuance operation and its authentication as a whole, provided that the same has been previously accepted by the current account holder through the signing of an agreement establishing that they may not repudiate the orders issued pursuant to said mechanism and that they will assume them as their own.

ECHEQ may be endorsed and/or guaranteed electronically, provided that mechanisms are used for this purpose that comply with the requirements set forth in the preceding paragraph.

3.5.3. Presentation for collection.

The legitimate holder may present each ECHEQ for collection from the corresponding payment date through an electronic credit order or collect it at the counter. Failing that, it shall remain pending until the expiration date of the term provided in article 25 of the Checks Law.

3.5.4. Reasons for rejection.

The provisions of Section 6 – as applicable – and, complementarily, the operating instructions issued on the matter shall apply.

3.5.5. Certificate for the exercise of civil actions.

The legitimate holder of a rejected ECHEQ may request the corresponding certificate from the depositary or drawee financial institution – as applicable –, which must issue it in accordance with the provisions of the specific rule issued for that purpose.

Section 4. Deferred payment checks.

4.1. Paper-format checkbooks.
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4.2. Registration of checks issued in paper format.
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4.3. Presentation for collection.

The entities (drawee or depositary) may not receive deferred payment checks (or transferable registered certificates, in the event that a guarantee has been extended over them) for crediting to account or payment at the counter before the corresponding payment date.

In the case of a check issued in paper format and its registration has been processed, the presentation for collection shall be made separately from said procedure.

They shall be debited at the time of presentation to the drawee – whether by the beneficiary or by the depositary entity – provided that such presentation is not made before the payment date stated in the document.

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4.5. Stock exchange negotiation.

4.5.1. When deferred payment checks – on deposit – are transferred for negotiation on the self-regulated Stock Exchanges and Securities Markets of the Argentine Republic (article 56 of the Checks Law - text according to Decree No. 386/03), which do not contain the legend authorizing their negotiation, it will be necessary for the drawee bank to:

4.5.1.1. Certify the formal validity of the pertinent check, as of the date on which it is transferred to be incorporated into that operating modality.

4.5.1.2. Have the express authorization of the current account holder to provide the data related to said checks that are indicative of a passive operation, releasing it from the confidentiality obligation referred to in the laws on Financial Entities (arts. 39 and 40) and Personal Data Protection (Law 25.326).

4.5.2. In the case of checks that contain the indicated legend (second paragraph of point 4.1.) and when they are presented in the securities markets:

4.5.2.1. By the drawer for its negotiation, the drawee entity shall be required to certify that the numbering of the instruments corresponds to the checkbooks duly delivered and/or to the electronic registry enabled for the issuance of ECHEQ and that there are no impediments to their circulation, the number and designation of the drawn account to which they correspond, the persons authorized to draw them and the number of signatories when the signature of more than one person is necessary. Such requirements shall be considered fulfilled in cases where the presentation process is carried out by the drawee bank.

4.5.2.2. For beneficiaries other than the drawer, only compliance with the requirement set forth in point 4.5.1.1 shall be necessary.

4.5.3. Commissions.

For the provision of the services set forth in the preceding points, remuneration may be agreed upon based on fixed sums that are not related to the amounts involved.

Section 5. Endorsements, special modalities of issuance and guarantee.

5.1. Endorsement.

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5.1.2. A check drawn in favor of a determined person, which does not bear the clause “not to order”, shall be transferable by endorsement.

Checks with the aforementioned condition (“not to order”) may also be transferred by endorsement, in cases of transfers –first and successive– when extended:

5.1.2.1. In favor of financial entities.

5.1.2.2. In favor of trustees of financial trusts included in the Law of Financial Entities, to the extent that they are operations related to the trust.

5.1.2.3. For deposit for the purposes of being negotiated on the Stock Exchanges and Self-regulated Securities Markets of the Argentine Republic, in which case the endorsements must be extended with the clause “... for negotiation on Securities Markets”.

In the case of checks drawn to bearer or in favor of a determined person – whether or not they bear the clause “not to order”– and which are delivered by their beneficiary to a third party for collection management through presentation at the counter or through deposit into an account for electronic clearing, the signature and clarification –or in the corresponding electronic registry, the identification– of the principal or orderer of the management and their personal identification number –according to the rules on “Identification documents in force”– must be recorded on the back, in the case of natural persons, or CUIT or CDI in the case of legal persons, regardless of the existence or not of the document that instruments the mandate. Additionally, one of the following expressions shall be inserted: “in procurement”, “value for collection” or “for its collection management”, as a manifestation of the effects of that endorsement.

The obligation to record the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or orderer and the agent or manager.

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5.1.4. The endorsement must be pure and simple and shall contain the signature of the endorser or shall be made on the ECHEQ in accordance with the means established for that purpose, specifying their full names and surnames and identity document and, where applicable, the denomination of the legal person they represent and the capacity invoked.

For the purposes of presentation for collection of the check drawn in paper format –directly at the drawee entity or through another depositary intermediary–, the presenter must include their address when inserting their signature for the purposes of their identifi- cation.

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5.1.7. In the case of checks drawn in paper format, the addition of sheets for the purposes of transmitting or guaranteeing the instrument shall only proceed for reasons of space. For such purposes, the intervening party responsible for its addition must sign covering both the exhausted element and the new one.

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5.4. Imputed check.

The aforementioned clause –with the imputation of payment– only produces effect between the inserter and its immediate holder, excluding the drawee from liability. Only the payee can endorse it and, in such case, the check maintains its negotiability.

Consequently, the responsibility of a financial entity, in this case, shall arise from its eventual character as beneficiary or holder of an instrument extended under those conditions, regardless of being the drawee or the depositary.

5.5. Certified check.

5.5.1. The bank that, in use of the faculties conferred by articles 48 and 49 of the Check Law, certifies a check at the request of the drawer or the holder, must record the term for which it is extended, as well as that such certification must be accredited in the manner provided in point 5.5.4.

5.5.2. The certification shall imply that the drawee debits and reserves the pertinent amounts for an agreed period that may not exceed 5 banking business days.

5.5.3. Upon expiration of the agreed term without the check having been presented for collection, the account shall be credited again.

The certified check expired as such subsists with all the effects proper to a check.

5.5.4. Simultaneously, the drawee bank –in its capacity as certifier– shall issue and deliver to the drawer or the holder of the check drawn in paper format –duly signed by the officials authorized for such purpose– a “certification form”, in which it shall record the identifying data of the check, the date of issuance, its amount and the time for which it is extended.

When the certification is issued on an ECHEQ, the certifying entity must proceed to register the update before the repository.

5.5.5. The certification forms shall observe the same requirements on dimension, format, paper quality and safeguards regarding security measures that have been

adopted with respect to the checks in use in each entity, and shall be duly identified by series and number. Within each series the numbering shall be consecutive.

5.5.6. The certification forms shall also include a stub that will serve as a control for the drawee bank, with respect to the certifications issued, with the minimum established data. Said stub may be replaced, at the bank's option, by a duplicate of the "certification form".

5.5.7. Banks shall adopt all measures aimed at keeping unused unassembled certification forms in safe custody.

5.5.8. When a cheque issued in paper format is presented for collection through a financial institution, its stamp shall certify that the corresponding "certification form" is in its possession, which must be kept until the drawee accepts the cheque drawn on it.

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Section 6. Rejection of cheques.

6.1. Grounds.

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6.1.3. Other reasons.

These are defined as those that generate the impossibility of proceeding with the payment of a cheque or that did not exist or were unknown to the drawer at the time of its issuance.

Exhaustively, they are:

6.1.3.1. Report of loss, theft or adulteration (made under the conditions provided in the Cheques Law and in this regulation) of the cheque.

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6.4. Procedure.

6.4.1. When a financial institution refuses to pay a cheque – common or deferred payment – whether presented directly by the holder to the drawee or through clearing systems, before returning it, it must record that refusal on the back of the same instrument or on a related attachment or register it with the ECHEQ repository – in all three cases producing the effects provided in Article 38 of the Cheques Law – with express mention of:

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6.4.3. Upon each of the rejections provided in points 6.1.1., 6.1.2. and 6.3. – except in the situation provided in the last two paragraphs of point 6.3.3. –, the drawee shall proceed to notify the drawer, current account holder, agent, attorney, administrator, or similar figures, leaving a record in their respective file, and to the guarantors, within 48 business hours of its occurrence, and to the BCRA at the opportunity and through the specifications of the operating guide.

Each communication to the BCRA shall include information, referring to those situations, with an age no greater than 10 banking business days.

… …

Section 7. Loss, theft or adulteration of cheques and other documents.

… …

7.2. Obligations on the part of the holder or, as the case may be, the dispossessed holder.

… …

7.2.2. Ratify personally, on the same day, the report at any branch of the financial institution by means of a note with the following minimum data:

7.2.2.1. Name of the institution and of the house in which the account is opened.

7.2.2.2. Number and name of the account.

7.2.2.3. Reason for the report.

7.2.2.4. Type and numbers of the affected documents.

7.2.2.5. Full names and surnames of the reporting parties, type and number of the documents they present to establish their identification in accordance with the provisions of point 1.3.1.9.

… …

7.3. Obligations on the part of the bank.

7.3.1. When the provisions of points 7.2.2. and/or 7.2.3. have been complied with.

7.3.1.1. Reject the payment of cheques or registered nominative certificates and the registration of deferred payment cheques, under the responsibility of the reporting party, that are presented for collection or registration, respectively, retaining the corresponding document or reporting the event on the ECHEQ, as applicable.

7.3.1.2. Record on the back of cheques issued in paper format or rejected transferable nominative certificates: "Cheque or transferable nominative certificate (lost, stolen or adulterated), according to report. Drawer's signature differs. Insufficient available funds in account". In these last two cases, if applicable.

The information described above must be registered with the repository when it concerns ECHEQ.

7.3.1.3. Photocopy in duplicate the front and back of the cheque issued in paper format or rejected transferable nominative certificate.

7.3.1.4. In the case of cheques issued in paper format, identify the presenter of the
rejected cheque or transferable nominative certificate, who must sign on the back of the corresponding photocopy, indicating the identity document exhibited.

When the collection or registration process has been carried out with the intervention of a clearing house, the drawee entity shall send 2 photocopies of the instrument whose payment is rejected and the depositary entity shall take charge of the identification task referred to in the previous paragraph, with subsequent return of one of those copies to the drawee entity

In both cases, the presenter shall be the recipient of the other photocopy certified by the drawee entity.

7.3.1.5. Inform, within the following 24 business hours of receipt of the report containing all the identifying data of the cheque, to the BCRA for the purposes of having the documents mentioned in point 7.1., except the special form to request cheque books, included in the "Central of cheques reported as lost, stolen or adulterated", in accordance with the procedure established in the corresponding operating guide that this Institution shall disseminate.

The information referring to these documents shall be removed when the intervening financial institution has informed, in accordance with the corresponding operating guide, the presentation for collection or when the cheques must be removed due to the application of the provisions of point 7.3.3.2. iii).

7.3.2. In case of report of theft or adulteration.

7.3.2.1. Send the cheque issued in paper format or rejected transferable nominative certificate – retained as provided in point 7.3.1. – to the intervening court.

7.3.2.2. Archive the proceedings linked to the report received and to the rejections made for such reason.

7.3.2.3. When the drawer, the beneficiary, the endorser, or a person authorized to act on their behalf, gives an order not to pay an ECHEQ invoking its adulteration – including its apocryphal issuance – the provisions on loss, theft or adulteration set forth in point 7.2 shall apply, and the possibility of issuing new ECHEQ or endorsing them must additionally be suspended until compliance with the obligation to present proof of having reported the fact as a crime under the terms of point 7.2.3. Only when it has such proof, and having previously analyzed that the circumstances of the case do not warrant maintaining the suspension, may the financial entity authorize the current account holder to issue and/or endorse new ECHEQ.

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BANCO CENTRAL
DE LA REPÚBLICA ARGENTINA

Section 8. “Central de cheques rechazados”, “Central de cuentacorrentistas inhabilitados” and “Central de cheques denunciados como extraviados, sustraídos o adulterados”.

… …

8.3. Cancellations of rejected checks.

It shall be demonstrated by any of the following alternatives:

8.3.1. Presentation of the check or certificate for the exercise of civil actions – as applicable – to the drawee, which shall retain them to apply the normal course generally applicable to paid checks.

8.3.2. Deposit at the drawee bank of the amounts of the relevant checks plus interest calculated from the date of rejection to the date of the deposit of the funds – with express record of the identifying data to which they must be allocated –. For such purposes, the rate applied by the Banco de la Nación Argentina for current account overdrafts not previously requested, in force on the day before the date of deposit, shall be used.

The operation may be recorded in the client's current account, separating the respective amounts, or in a special demand account.

The deposited funds shall be paid:

− Against presentation of the respective check or certificate for the exercise of civil actions – as applicable – to the drawee bank.

It shall be a necessary requirement that such presentation be made through another banking house, when the recovery of the amounts is managed by any of the persons – other than the drawer – with legitimate title (depositors, endorsers or guarantors), who are not clients of the aforementioned house of the drawee entity.

− To the drawer, once the periods to bring judicial actions have expired – of the holder against the drawer, endorsers and guarantors and/or among the various obligors legally established among themselves –, without the drawee having been reliably notified of any filing in the matter.

8.3.3. Proof of collection issued by the creditor whose signature is certified by a public notary, by a competent judicial officer or by the drawee entity in cases of checks issued in paper format.

In the case of ECHEQ, the aforementioned proof must be issued by the legitimate holder, in accordance with the information provided by the repository administrator.

8.3.4. Judicial consignment of the amount of the checks plus interest according to the rate applied by the Banco de la Nación Argentina for current account overdrafts not previously requested, calculated from the date of rejection to the date of deposit.

8.3.5. Return of ECHEQ to the drawer ordered by the legitimate holder to the financial entity of which the latter is a client.

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CENTRAL BANK OF THE ARGENTINE REPUBLIC

Section 10. Notices.

10.1. General aspects.

The notices that, in compliance with the Checks Law and these regulations, must be sent to drawers, current account holders, presenters or holders of checks, or guarantors shall be sent, preferably by electronic communication mechanisms, within 48 business hours of the occurrence of the cause giving rise to the obligation to send them.

… …

10.2. Minimum content.

10.2.1. Common requirements.

10.2.1.1. Identification of the sending entity, branch or subsidiary where the account is located and address.

10.2.1.2. Name and surname and/or corporate name of the recipient and their address.

10.2.1.3. Date of issuance.

10.2.1.4. Capacity in which the notice was issued.

10.2.1.5. Number of the current account to which the notice is allocated.

10.2.1.6. Reason for sending the notification (rejection – stating one of the causes legally and regulatorily provided for –, closure of the current account or suspension of the check payment service prior to its closure – indicating in both cases the reason invoked –, retention of deferred payment checks – at the time of their registration – to remedy defects).

10.2.1.7. Sequential order of the notice.

10.2.1.8. Identification of the two sending officials, authorized for that purpose by the drawee entity.

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B.C.R.A.
CONSOLIDATED TEXT OF THE RULES ON
“REGLAMENTACIÓN DE LA CUENTA CORRIENTE BANCARIA”

-Índice-

Section 1. Operation.

1.1. Procedures manual.

1.2. Account servicing.

1.3. Identification of current account holders and persons authorized to operate them.

1.4. Conditions.

1.5. Operational aspects to be included in the current account contract.

Section 2. Account movements.

2.1. Credits.

2.2. Debits.

2.3. Interest.

2.4. Check truncation. Granting of reciprocal mandate.

2.5. Liability scheme for the issuance of checks by electronic means.

Section 3. Checks.

3.1. Characteristics.

3.2. Instruments lacking value as checks.

3.3. Reproduction of digitized signatures for the issuance of checks in paper format.

3.4. Electronic deposit of checks.

3.5. Checks issued by electronic means (ECHEQ).

Section 4. Deferred payment checks.

4.1. Paper-format checkbooks.

4.2. Registration of checks drawn in paper format.

4.3. Presentation for collection.

4.4. Guarantee.

4.5. Stock exchange negotiation.

Section 5. Endorsements, special issuance modalities and guarantee.

5.1. Endorsement.

5.2. Crossed check.

5.3. Check for credit to account.

5.4. Imputed check.

5.5. Certified check.

5.6. Guarantee.

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The entities must reliably verify that the persons covered do not have disqualifications to operate current accounts ordered by judicial authority or as a consequence of other legal provisions, for which purpose they shall consult the “Central de cuentacorrentistas inhabilitados” administered by the Banco Central de la República Argentina (BCRA), or have not incurred non-payment of the fines established in Law 25.730 for rejections of checks drawn against accounts opened at the entity.

1.4.5. Signature registry.

The entity shall require, with the precautions it establishes, that the account holder or holders and the persons authorized to operate on it write by hand, on cards or special forms or legally authorized substitutes, the signatures that the checks they issue will bear or the instructions they give in paper format.

For this purpose, the unification of the registry on a single card, special form or legally authorized substitute shall be allowed for all accounts opened by the same holder.

If the drawing of checks by electronic means (ECHEQ) is contemplated, evidence must be obtained of the acceptance of the security elements intended for that purpose, as well as of the commitment to safeguard them, and to recognize and not repudiate any ECHEQ drawn through the use of those elements, without prejudice to the eventual application of the grounds for rejection provided in Section 6.

The same formalities shall be required with respect to all persons authorized to draw against the account.

1.4.6. Delivery of checkbooks and authorization to draw ECHEQ.

Once the account is enabled through the agreed initial deposit or the corresponding overdraft authorization, the entity shall deliver to the current account holder, against receipt, checkbooks, in accordance with applicable regulations.

Such checkbooks may consist exclusively of common or deferred-payment check forms, or contain both types of documents.

If the aforementioned checkbook is not personally collected by the account holder, the drawee shall not pay the checks drawn in paper format that are presented for collection (whatever their class) nor register the deferred-payment checks drawn in that format that are presented for such purposes, if its conformity regarding receipt of the aforementioned item is not available.

The drawee entity shall proceed to reject for formal defect each of the checks contained in the checkbook for which the holder's conformity regarding its receipt has not been received.

Checkbooks shall be delivered in quantity and/or the drawing of ECHEQ shall be authorized for a maximum global amount, as applicable, based on what the client requests and to the extent justified by the account's activity. In the case of ECHEQ, the drawee entity shall inform the drawer of the total authorized amount and the available amount.

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1.5. Operational aspects to be included in the current account contract.

Its clauses shall provide, at a minimum:

1.5.1. Obligations of the current account holder.

1.5.1.1. Maintain sufficient provision of funds or have the corresponding written overdraft authorization so that the entity honors the common checks drawn against the account and, otherwise, not issue them departing from the conditions agreed in writing.

In the case of deferred-payment checks, their drawing shall be conditioned on the existence of an adequate provision of funds or an overdraft agreement at maturity, also formalized in writing.

1.5.1.2. Upon receiving the statements, send the entity its conformity with the balance or the observations that may be applicable, within the period established in point 1.5.2.3.

1.5.1.3. Update the registered signature whenever the entity deems it necessary.

1.5.1.4. Notify the entity, in writing, of the loss, theft or adulteration of blank check forms or of checks drawn in paper format and not delivered to third parties or of the special form to request them, as well as of the transferable registered certificates of deferred-payment checks, according to the procedure established in point 7.2.

It shall proceed in the same manner when it becomes aware that a check in paper format already issued has been lost, stolen or altered. The notice may also be given by the dispossessed holder.

In the case of checks drawn by electronic means, notify the drawee entity if their adulteration or spurious issuance is detected, according to the procedure provided in point 7.2. and the operating instructions established for these cases.

1.5.1.5. Inform the entity, in writing, of any change of address or contact email and return the checkbooks showing the previous address.

1.5.1.6. Notify the entity of any modification of its corporate contracts, bylaws, change of authorities or powers and the revocations of the latter, in particular when it refers to the persons mentioned in point 1.3.2.6.

1.5.1.7. Return to the entity all blank checks in its possession at the time of requesting the closing of the account or within 5 business days from the date of having received the communication of the suspension of the check payment service as a prior measure to the closing of the account or of the closing of the account.

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Section 1. Operation.

1.5.1.8. Integrate checks in pesos, draft them in the national language and sign them in handwriting or by the alternative means that are authorized.

Checks will not be allowed to bear more than 3 signatures.

1.5.1.9. Safeguard the security elements agreed for the issuance, visualization and/or management of ECHEQ, preventing their use by unauthorized persons or under unauthorized conditions.

1.5.1.10. Use the security elements and procedures agreed for the issuance, management and deposit of ECHEQ solely to issue, deposit and/or manage them in accordance with the applicable rules and agreements.

1.5.1.11 Do not disavow the ECHEQ issued through the use of the security elements and procedures agreed for that purpose.

1.5.1.12. Do not disavow the deposit or operation carried out with an ECHEQ that is effected through the use of the security elements and procedures agreed for that purpose.

1.5.1.13. Authorize that, in the event of admitting that its deferred payment checks are susceptible to stock exchange trading, financial entities provide the data relating to said checks that are indicative of a passive operation, releasing them from the obligation of secrecy and confidentiality referred to in the laws on Financial Entities (arts. 39 and 40) and Personal Data Protection (Law 25.326 and amendments).

1.5.2. Obligations of the entity.

1.5.2.1. Keep the accounts up to date.

1.5.2.2. Credit on the same day the amounts delivered for the credit of the current account and the deposits of checks within the current clearing periods.

1.5.2.3. Send to the current account holder, at most 8 calendar days after the end of each month and/or the shorter period that is established and under the conditions agreed, a statement with the detail of each of the movements made in the account –debits and credits–, whatever their concept, identifying the different types of transaction by means of a specific code that each entity implements for that purpose and the balances recorded in the period covered, requesting their conformity in writing. Also, the operations carried out on own account or on behalf of third parties must be identified in the corresponding statement, to the extent that they are deposits of checks for amounts greater than $ 1.000 and that they are so identified by the corresponding endorsement, through the single procedure that each entity chooses to apply for that purpose.

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Additionally, the statement shall state the uniform banking code (CBU) so that the client can apply for direct debit services, the current clearing period for the operation of deposit of checks and other clearable documents and the total amount debited in the period under the concept of “Tax on financial transactions”.

In that statement or account summary, the entities shall additionally report the following minimum data:

i) If debits corresponding to the direct debit service occur:

− Name of the service provider company, tax collection agency, etc., to which the debited funds were destined.

− Identification of the client in the company or entity (surname and name or code or account, etc.).

− Concept of the operation causing the debit (month, two-month period, installment, etc.).

− Amount debited.

− Date of debit.

ii) If transfers are made:

a) When the account corresponds to the originator of the transfer:

    − Information discretionary at the criterion of the originating company or individual.

    − Amount transferred.

    − Date of the transfer.

b) When the account corresponds to the receiver of the transfer:

    − Name of the originating person or company.

    − CUIT, CUIL or DNI number of the originator.

    − Unique reference of the transfer. When they are transfers originated by ANSES, which respond to the concept “family allowances”, the legend “ANSES SUAF/UVHI” must be recorded in the account summaries (or in the movement receipts issued through automatic teller machines) of the respective beneficiaries.

    − Total amount transferred.

    − Date of the transfer.

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REGULATION OF THE BANK CURRENT ACCOUNT B.C.R.A.
Section 1. Operation.

Conformity with the movement recorded in the bank shall be presumed if within 60 calendar days of the expiration of the respective period the filing of a claim has not been presented at the financial entity.

When interest on credit balances is recognized, the nominal and effective rates, both annual, corresponding to the reported period shall be informed.

In addition, the legend that must be included regarding deposit guarantee shall be stated, as provided in point 6. of the rules on “Application of the deposit guarantee insurance system” and, in the place determined by the entity, the tax identification code number (CUIT, CUIL or CDI) of the account holders, according to the records of the depositary. It shall be obligatory to record the data of up to three of its holders; when they exceed said number, the total quantity shall also be indicated.

1.5.2.4. Send to the account holder, when the deferred payment check modality is used, information that shall contain at minimum, in addition to the movement of funds already verified, a detail of the ECHEQ issued pending payment and the checks issued in paper format registered, stating their maturity and amount, subject to the conditions stipulated in point 1.5.2.3.

1.5.2.5. Inform the current account holder of the balance recorded by the corresponding accounts at the offices of the entity and/or at the places indicated by the holders, such communication being able to be made through electronic means.

1.5.2.6. Pay at sight –except in the cases referred to in point 1.5.2.8., second paragraph– the checks drawn by the current account holder, in accordance with the legal and regulatory provisions in force at the date of issuance of the check, taking into account, in matters of presentation periods, those established in article 25 of the Check Law.

In the case of deferred payment checks, that period shall be computed from the payment date stated on the check.

1.5.2.7. Adopt the necessary procedures to make the payment of checks, assuming the pertinent legal responsibilities in the case of those incorrectly paid.

In the case of checks drawn by electronic means or included in the truncation operation, observe the guidelines contained in the agreements formalized between the entities.

1.5.2.8. Identify the person who presents the check at the window, including when it is drawn to bearer, whose signature, clarification and domicile, and the type and number of identity document that corresponds in accordance with the provisions of point 1.3.1.9., must be recorded on the back of the document.

They must not pay in cash checks –common or deferred payment– extended to bearer or in favor of a determined person, for amounts exceeding $ 50,000. This restriction shall not apply in the following cases:

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i) Checks drawn in favor of the holders of the accounts on which they are drawn, exclusively when they are presented to the drawee entity by themselves.

ii) Securities in favor of third parties destined for the payment of salaries and other habitual remunerations for amounts that comprise the payroll in a global form, for which the drawer must extend, on each occasion, a certification in which the purpose of the drawing is expressly stated, which shall be filed in the entity.

1.5.2.9. Verify –both in checks drawn in paper format and in transferable registered certificates– the regularity of the series of endorsements but not the authenticity of the signature of the endorsers and verify the signature of the presenter, which must be inserted as a receipt.

These obligations fall on the drawee entity when the check is presented for collection at it, while the entity in which the check is deposited –when it is different from the drawee– is responsible for controlling that the last signature extended as a receipt contains the specifications set forth in point 5.1.3., unless the truncation procedure is applicable, in which case the provisions of the respective agreements shall be followed.

When the presentation is made through an agent or beneficiary of an ordinary assignment, the instrument by which the mandate was granted or the assignment was made must also be verified, except when the collection management is carried out by a financial entity not authorized to take demand deposits.

1.5.2.10. Modifications in the agreed conditions –including the amount of commissions and/or charges– must be made in accordance with the provisions of point 2.3.4. of the rules on “Protection of users of financial services”.

Funds improperly debited for commissions and/or charges must be reimbursed to the holders in accordance with the provisions of point 2.3.5. of the rules on “Protection of users of financial services”.

1.5.2.11. Inform the BCRA of check rejections for formal defects, rejections of the registration of deferred payment checks, as well as those produced by insufficient provision of funds in account or by not having authorization to overdraw and the fines paid by those responsible.

In cases where the fines have been paid and an erroneous notification is made to the BCRA, which determines the automatic disqualification of the client, it must be provided in the contracts that the entity will compensate the client for the expenses caused by the solution of such situation by crediting it to the client's account, it being estimated that this should not be less than one time the amount of the fines in question. Such payment does not exempt the entity from the civil responsibilities that may correspond in its relationship with the client.

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1.5.2.12. Use the procedures established in the respective operational guide to send to the BCRA, on the dates and in the manner indicated, the reports referred to in point 1.5.2.11.

In said reports, the CUIT or the CUIL or the CDI, as applicable, must be mentioned.

The data provided, referred to each of the situations provided for in said point, may not register an age greater than the 10 previous banking business days prior to the due date for that presentation.

1.5.2.13. Adopt the necessary precautions for the purposes of ensuring that the current account holder has received the requested checkbook and/or accepted the pertinent security elements when it provides for the use of checks to be drawn by electronic means.

1.5.2.14. Reverse the debited operations, according to express instructions of the holder, linked to the automatic debit system for the payment of taxes, public or private service invoices, credit card statements, etc., that adjust to the terms established in point 1.5.4.2., in accordance with clauses that must be included in the agreement of adhesion to the system.

In the agreements that financial entities enter into with their clients for adhesion to automatic debit systems, a clause must be included that provides for the possibility that the client may order the suspension of a debit until the business day prior –inclusive– to the due date and the alternative of reversing debits for the total of each transaction, upon an express instruction from the client, within 30 calendar days counted from the date of the debit. The refund will be made within the 72 business hours following the date on which the entity receives the client's instruction, provided that the company originating the debit and only in cases where the amount of the requested reversal exceeds $ 750, does not oppose the reversal because the billing difference has been made effective directly.

In the case of credit card settlements of open systems, instead of the aforementioned reversal procedure, entities must have mechanisms in place that allow users to manage through them the reversal of coupons included in the settlements and the refund of the pertinent amounts that have been debited.

1.5.2.15. Notify the current account holder, when magnetic cards are delivered to be used in carrying out transactions with automated teller machines, of the recommendations and precautions that must be taken to ensure their correct use, as provided in point 12.1.

1.5.2.16. Ensure that the ECHEQ is issued without formal defects and in accordance with the agreed security mechanisms.

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1.5.2.17. Ensure the correct functioning of the agreed security mechanisms for the issuance and/or management of ECHEQ and for their data, preventing their use by unauthorized persons or under unauthorized conditions.

1.5.2.18. Transmit to the repository in full the ECHEQ and all updates related to them, using the procedures and means established for that purpose.

1.5.2.19. Print the certificates for civil actions of rejected ECHEQ and deliver them to the legitimate holder or their duly accredited representative, upon their request, keeping the record of delivery and, where applicable, of the receiver's authority.

1.5.3. The minimum requirements of financial contracts (point 2.3.1.1. of the rules on “Protection of users of financial services”).

Entities may not charge fees or commissions for replacements of debit cards carried out in compliance with the minimum security requirements established in the rules on “Minimum requirements for the management, implementation and control of risks related to information technology, information systems and associated resources for financial entities”.

Users of financial services who are holders of a bank current account shall have the right to carry out transactions at the counter, without restrictions on the type of transaction –subject to those that may exist for operational reasons– or minimum amount.

No commissions may be applied to transactions carried out at the counter by users of financial services who are natural persons nor to cash deposits in pesos in accounts whose holders are natural or legal persons that are micro, small or medium-sized enterprises (MiPyME), with the scope provided in point 2.3.2.2. of the rules on “Protection of users of financial services”.

1.5.4. The concepts that will be debited from the current account, provided there is express authorization from the client, for:

1.5.4.1. Transactions of the entity itself (loan payments, safe deposit box rentals, etc.).

1.5.4.2. Collection services on behalf of third parties, arranged directly with the bank or through said third parties (automatic or direct debits) for the payment of taxes, fees, contributions and dues, invoices for public or private services, credit card statements, etc., when the client's knowledge is ensured at least 5 business days in advance of the date set for the debit that the current account holder has contracted.

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In the event that the client formalizes their adhesion to the automatic debit service through the service provider company, tax collection agency, etc., for the purpose of making the debits, the communication that the company or entity sends to the entity notifying the adhesion shall be sufficient, and the record thereof may remain in the possession of the company or entity.

The client may formalize their adhesion to the automatic debit system through the financial entity in which they maintain their account or through the service provider company, tax collection agency, etc., insofar as, in the pertinent aspects, the requirements indicated above are observed. The same option shall apply to express the disaffiliation or cancellation of a service of this system

1.5.4.3. Commissions freely agreed upon at the time of opening or subsequently, corresponding to the transactions provided in points 1.5.4.1. and 1.5.4.2., stating amounts or percentages.

If the services are agreed upon after the opening of the account, a record shall be left in a document signed together with the client, prior to its entry into force and which will complement the current account contract, regarding the concepts included and the occasions on which the debits will operate, in accordance with the provisions of point 2.3.4. of the rules on “Protection of users of financial services”.

1.5.5. The list of debits that may not require prior and express authorization from the applicant, such as legally provided fines, taxes that levy the account movements or other concepts debited therein.

1.5.6. Detail of the grounds and/or situations that may lead to the closing of the account, including those ordered by judicial decision or other legal reasons, as well as the requirements that each of the parties must observe on that occasion.

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2.2.3. Internal debits, which, when applicable, shall be admitted under the conditions referred to in point 1.5.4.

2.2.4. Withdrawals through automated teller machines and transactions carried out through point-of-sale terminals.

Entities must have implemented computer security mechanisms that guarantee the genuineness of the transactions.

2.3. Interest.

2.3.1. They may be recognized on the credit balances of the current account, under the conditions freely agreed with the customers.

2.3.2. They shall be settled and capitalized for expired periods of no less than 30 days nor more than one year, using 365 days as a fixed divisor.

2.3.3. Upon the closing of the account, they shall be settled up to the day before such circumstance occurs.

2.3.4. The following must be specified:

2.3.4.1. Contractually agreed annual interest rate, in percent with two decimals.

2.3.4.2. Effective annual interest rate equivalent to the calculation of interest on a matured basis, in percent with two decimals.

2.3.4.3. Calculation of the effective annual interest rate.

The following formula shall be used:

i= { [ (1 + is x m/df x 100) df/m ] - 1} x 100

where:

i: effective annual interest rate, equivalent to the calculation of interest on a matured basis on balances, in percent, with two decimals.

is: contractually applied annual interest rate, in percent.

m: number of days corresponding to each of the interest settlement subperiods when they are paid periodically or of the transaction when they are collected in a single instance. When such subperiods are in fixed days for monthly, bimonthly, etc. periods, they shall be considered for these purposes as 30 days, 60 days, etc., respectively.

df: 365.

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2.3.5. Advertising.

Banks must display on boards placed in customer service premises as well as in advertising carried out through graphic media (newspapers, magazines, billboards on public roads, etc.) information on the interest rates they pay on the credit balances of current accounts – when recognized –, in percent with two decimals, with the following detail:

2.3.5.1. Nominal annual interest rate.

2.3.5.2. Effective annual interest rate.

2.4. Check truncation. Granting of reciprocal mandate.

For the purposes of applying the check truncation procedure for the payment of documents processed through electronic funds clearing houses, based on the agreements formalized between the entities, it shall be understood that they have granted each other a reciprocal mandate regarding compliance with their obligations as drawee entities, by application of the Checks Law and regulatory rules issued by the BCRA.

2.5. Scheme of responsibilities for the issuance of checks by electronic means.

For the purposes of applying the procedure provided in point 3.5., the scheme of responsibilities included in the agreements formalized between financial entities must be observed, by application of the Checks Law and regulatory rules issued by the BCRA.

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3.1. Characteristics.

They shall contain the essential statements required by articles 2, 4 and 54 of the Checks Law and shall conform to the provisions established by the BCRA.

3.2. Instruments that lack value as checks.

The instrument with respect to which any of the following situations, exhaustively listed below, occurs shall not be valid as a check:

3.2.1. Lack of any of the specifications contained in articles 2, subparagraphs 1 to 6, 4, 23 and 54, subparagraphs 1 to 9, of the Checks Law, namely:

3.2.1.1. The designation “check” or “deferred payment check” inserted in its text.

3.2.1.2. The order number, printed on the body of the check issued in paper format or incorporated into the data of the check issued by electronic means.

3.2.1.3. The date of creation.

3.2.1.4. The payment date, which cannot exceed a term of 360 days, in deferred payment checks.

3.2.1.5. The name of the drawee bank and the domicile of payment.

3.2.1.6. The pure and simple order to pay a determined sum of money in common checks or the sum ordered to be paid at maturity in deferred payment checks, expressed in words and figures, specifying the type of currency.

3.2.1.7. The signature of the drawer, except when the means established for that purpose are used.

3.2.1.8. The name of the drawer, domicile, tax or labor identification or identity, as regulated by the BCRA.

3.2.1.9. Date of issuance subsequent to the day of its presentation for collection or deposit.

3.2.2. Existence of erasures or amendments not rectified by the drawer.

3.2.3. That they are not drafted in the national language.

3.2.4. That they contain advertising inscriptions.

3.2.5. Maturity date of a deferred payment check – not registered – earlier than or equal to the date of issuance.

Instruments returned for those situations may not be subject to new presentations.

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3.3. Reproduction of digitized signatures for the issuance of paper-format checks.

3.3.1. Issuance.

Checks may be issued through the use of electronic signature reproduction systems referred to in subsections 6 and 9 of Articles 2 and 54, respectively, of the Checks Law.

3.3.2. Endorsement.

Electronic digitized signature reproduction systems may not be used for the transfer of checks by endorsement.

3.3.3. Agreement between the parties.

The mechanisms to be implemented between the bank and its clients, prior to the use of electronic digitized signature reproduction systems, shall be the exclusive responsibility of the parties and must ensure compliance with the principles of "non-repudiation" (on the part of the current account holder and the drawer) and "non-disavowal" (on the part of the drawee bank).

Acceptance of the indicated obligations entails the unavoidable responsibility of the parties regarding the impossibility of invoking any reason to the detriment of the validity of the signature if it corresponds to the handwriting and other conditions agreed upon in due course.

3.3.4. Registry of authorized persons.

The entity must keep an updated registry of the persons authorized on the current account to issue paper-format checks using electronic digitized signature reproduction systems. In this regard, the necessary security measures must be adopted to prevent the improper use of the information contained in the aforementioned registry.

3.3.5. Responsibility of the account holder.

The holders of the current account shall be unlimitedly liable for the issuance of checks in which the electronic digitized signature reproduction technology is used by their attorneys and/or representatives in the exercise of their mandate or representation, even when such acts are carried out in excess of the powers conferred. Every mandate shall be understood to remain in force until its revocation is reliably notified to the entity.

3.3.6. Authorization.

The BCRA shall individually authorize banks that request it to use such systems.

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− System access methodology.

− Security product used.

− Profiles of authorized users: supervisor, operator, auditor, etc.

− Description of the policy for obtaining backup copies (“backups”).

− Key management methodology.

− Detailed description of the generation, storage and access to the audit logs (“log”) of system operations.

− Description of the encryption mechanism used to provide confidentiality to the file in which the digitized signatures reside.

3.3.8.4. Characteristics of the paper used for the issuance of checks.

− Type, security marks, etc.

− Detailed description of the physical inventory management procedure.

− Supply of samples of the paper to be used (must comply with the regulations in force in this regard).

3.3.8.5. Additional elements.

− Model of the mutual adhesion contract to be signed between the current account holder clients and the bank to issue paper-format checks through electronic signature reproduction systems.

− Model of the bank's letter of commitment by which it will inform the current account holders of the different numbering ranges to be assigned to predetermined quantities of checks, with proof of acceptance by said holders.

− If applicable, model of the power of attorney by which the current account holders authorize bank officers to issue checks on their account and order.

− In the event that, within the methodology to be used, there are tasks delegated to third parties, the bank's written commitment (signed by the same functional level as indicated in point 3.3.7.) to assume full responsibility for the use by such third parties of the digitized signatures of the officers authorized to issue checks through electronic reproduction technology must be attached.

3.3.9. Modifications.

Any modification intended to be introduced to a system approved by the BCRA must have its prior authorization for entry into force, for which the same procedure as described above must be used.

3.3.10. Conservation of documentation.

The supporting documentation of the implementation and that resulting from the operations must be available for any query that the BCRA considers pertinent.

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3.4. Electronic deposit of checks.

Checks (common or deferred payment) issued in paper format presented electronically for collection and whose image has been captured by the client must state on the front and back of the physical document the following expression: “presented electronically for collection”.

3.5. Checks issued by electronic means (ECHEQ).

3.5.1. Insofar as it is not provided for and to the extent that they are not incompatible with the particular provisions established for ECHEQ, these rules shall apply, as the case may be for common or deferred payment checks.

Financial entities that operate with any of the types of demand accounts that admit the deposit of checks must adopt the mechanisms –their own or through third parties– that are necessary so that their clients can deposit ECHEQ.

3.5.2. Issuance, endorsement, guarantee.

ECHEQ may be issued in favor of a determined person –whether or not they have the “not to order” clause–, in accordance with the provisions of these rules and the operating instructions issued on a complementary basis.

The signature requirement shall be satisfied if any electronic method is used that indisputably ensures the expression of the drawer's will and the integrity of the instrument, the reliability of the issuance operation and its authentication as a whole, provided that it has been previously accepted by the current account holder by signing an agreement establishing that they may not disavow orders issued under said mechanism and that they will assume them as their own.

ECHEQ may be endorsed and/or guaranteed electronically, provided that mechanisms are used for such purposes that comply with the requirements of the preceding paragraph.

3.5.3. Presentation for collection.

The legitimate holder may present each ECHEQ for collection from the corresponding payment date through an electronic credit order or collect it over the counter. Failing that, it shall remain pending until the expiration date of the period provided in article 25 of the Checks Law.

3.5.4. Grounds for rejection.

The provisions of Section 6 shall apply –as applicable– and, complementarily, the operational instructions issued on the matter.

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3.5.5. Certificate for the exercise of civil actions. The legitimate holder of a rejected ECHEQ may request the corresponding certificate from the depositary or drawee financial institution –as applicable–, which must issue it in accordance with the provisions of the specific rule issued for that purpose.

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4.1. Checkbooks in paper format.

They shall be delivered upon mere request, and, in addition to the provisions set forth in these regulations for checks in general to the extent applicable, the rules contained in this section shall apply.

If the holder chooses to allow their deferred payment checks to be susceptible to stock exchange trading, upon request the entity must provide checkbooks with forms bearing the following legend:

“Negotiable on Securities Markets (Dec. 386 of 10.7.03)”

Upon withdrawing the corresponding checkbook, the account holder shall record on the pertinent receipt that they release the depositary bank from the responsibilities arising from the confidentiality rules referred to in the Financial Institutions laws (arts. 39 and 40) and Personal Data Protection (Law 25.326).

4.2. Registration of checks drawn in paper format.

Once issued, they may be presented for registration until the day before their expiration. If such presentation is made within any of the 14 consecutive days immediately preceding expiration, the procedure and periods provided in point 4.2.2.4 remain in force.

4.2.1. Application.

The holder of a current account in which deferred payment checks are used or the holder of one of them may –indistinctly– request directly, by completing the pertinent application, the registration of a check of such characteristics drawn by the former, receiving, if there are no objections from the drawee, the check or, when the guarantee is granted, the transferable nominative certificate issued in the name of the applicant.

4.2.2. Procedure.

4.2.2.1. Financial institutions shall intervene the check and issue a receipt stating the date on which such presentation takes place, from which the period provided in the cited legal provision runs to overcome any defects.

4.2.2.2. If the depositary entity is not the drawee, the former shall forward the received document to the latter for registration.

4.2.2.3. The depositary entity shall specify, on the back of the check, in the area reserved for these purposes, its entity code, branch and date of presentation for registration, leaving free for use by the drawee entity the sections intended for registration and correction of formal defects, if any.

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4.2.2.4. The drawee entity shall verify the existence of defects in the creation of the instrument, in which case it shall immediately notify the drawer so that they may correct them, retaining the deferred payment check for that purpose for a period that may not exceed 5 consecutive days counted from the date of notification. In no case may the registration of the check be delayed more than 15 consecutive days.

4.2.2.5. The drawee entity shall proceed with the pertinent registration once such deficiencies have been overcome or with its rejection if applicable.

4.2.2.6. Once registration is made, the document shall be returned –unless the entity grants its guarantee– with the record accrediting such circumstance, by means of a legend including:

i) Registered –without guarantee– with date .../.../..., article 57 of the Checks Law.

ii) Two signatures –with their pertinent clarifications– of authorized responsible officials committing the entity.

4.2.3. Cost.

If the entity decides to charge for the check registration service, it shall be borne by the person requesting the registration.

4.3. Presentation for collection.

Entities (drawee or depositary) may not receive deferred payment checks (or transferable nominative certificates, if a guarantee has been extended on them) for account credit or over-the-counter payment before the corresponding payment date.

If it is a check drawn in paper format and its registration has been processed, presentation for collection shall be made separately from said procedure.

They shall be debited at the time of presentation to the drawee –whether by the beneficiary or by the depositary entity– provided that such presentation is not made before the payment date stated in the document.

4.4. Guarantee.

4.4.1. It may be granted on registered or unregistered deferred payment checks.

This circumstance shall be recorded in a transferable nominative certificate that must be issued by the guaranteeing entity – whether or not it is the drawee –, according to the models established by the BCRA.

4.4.2. When the depositary entity guarantees deferred payment checks presented through it and registered without the guarantee of the drawee entity, the former shall issue the pertinent transferable nominative certificates. The certificates in question may be issued – at the request of the depositor of the checks – individually for each of them or as a group.

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4.4.3. The certificates shall be delivered to the presenter of the deferred payment check, against receipt. In the event that the check has been presented through a depositary entity, said instrument shall be filed in the possession of the latter.

4.4.4. The transferable nominative certificate shall be paid to the presenter – within the established validity period – by the guaranteeing entity. When the latter is not the drawee, the deferred payment checks shall be presented for collection to it by the guarantor (depositary of the securities) for credit on the payment date stated in the document.

4.4.5. Said certificate shall be transferable without limitation by endorsement under identical conditions, scope and terms as are applicable to the check that originates it, whether from a formal or substantive point of view, including – where applicable – the clause relating to stock exchange trading.

4.4.6. The certificates deposited in an account or as securities for collection through intermediaries included in the Law on Financial Entities shall be subject to the same treatment as that applicable to checks. Presentation for collection before the payment date inserted in the document shall be deemed not made.

4.5. Stock exchange trading.

4.5.1. When deferred payment checks – on deposit – are transferred for trading on the authorized Stock Exchanges and Securities Markets of the Argentine Republic (article 56 of the Law on Checks - text according to Decree No. 386/03), which do not contain the legend authorizing their trading, it shall be necessary for the drawee bank to:

4.5.1.1. Certify the formal validity of the pertinent check, as of the date on which it is transferred to be incorporated into that operating modality.

4.5.1.2. Have the express authorization of the holder of the current account to provide the data relating to said checks that are indicative of a passive operation, releasing it from the confidentiality obligation referred to in the laws on Financial Entities (arts. 39 and 40) and on Personal Data Protection (Law 25.326).

4.5.2. In the case of checks that contain the aforementioned legend (second paragraph of point 4.1.) and when they are presented on the securities markets:

4.5.2.1. By the drawer for trading, it shall be required that the drawee entity certify that the numbering of the instruments corresponds to the checkbooks duly delivered and/or to the electronic registry enabled for the issuance of ECHEQ and that there are no impediments to their circulation, the number and designation of the drawn account to which they correspond, the persons authorized to draw them and the number of signatories when the signature of more than one person is necessary. Said requirements shall be considered fulfilled in cases where the presentation process is carried out by the drawee bank.

4.5.2.2. By beneficiaries other than the drawer, only compliance with the requirement provided in point 4.5.1.1 shall be necessary.

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5.1. Endorsement.

5.1.1. Limit.

Checks presented for collection or – where applicable – for registration up to and including 31.12.22, may only contain the number of endorsements indicated below:

5.1.1.1. Common checks: up to one endorsement.

5.1.1.2. Deferred payment checks: up to 2 (two) endorsements.

Excepted from the limitations established in this point are endorsements made by financial entities to obtain financing, in favor of a financial entity or a trustee of a financial trust, in both cases included in the Law on Financial Entities, and successive transfers in favor of other subjects of the same nature, as well as when the checks are deposited in Caja de Valores S.A. to be traded on the stock exchanges and securities markets authorized by the National Securities Commission of the Argentine Republic, in which case the endorsements must be issued with the clause “... for trading on securities markets”. Also excepted from the aforementioned limitation are endorsements in favor of the BCRA and those made on ECHEQ.

5.1.2. A check issued in favor of a determined person, which does not bear the clause “not to order”, shall be transferable by endorsement.

Checks with the aforementioned condition (“not to order”) may also be transferred by endorsement, in cases of transfers – first and successive – when issued:

5.1.2.1. In favor of financial entities.

5.1.2.2. In favor of trustees of financial trusts included in the Law on Financial Entities, to the extent that they are operations related to the trust.

5.1.2.3. For deposit for the purpose of being traded on the authorized Stock Exchanges and Securities Markets of the Argentine Republic, in which case the endorsements must be issued with the clause “... for trading on Securities Markets”.

In the cases of checks issued to bearer or in favor of a specific person – whether or not they bear the clause “not to order” – and which are delivered by their beneficiary to a third party for collection management through their presentation at the counter or through their deposit into an account for electronic clearing, the signature and clarification – or in the corresponding electronic record, the identification – of the principal or instructing party of the management and their personal identification number – according to the rules on “Valid identification documents” – must be recorded on the back in the case of natural persons, or CUIT or CDI in the case of legal entities, regardless of the existence or not of the document that instruments the mandate. Additionally, one of the following expressions shall be inserted: “for collection”, “value for collection” or “for its collection management”, as a manifestation of the effects of that endorsement.

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The obligation to record the personal identification number or CUIT or CDI, as applicable, and the aforementioned legend falls, indistinctly, on the principal or instructing party and the agent or manager.

5.1.3. The signature to be inserted on a check solely for the purpose of its collection or deposit – which may be admitted under the conditions established in subsection 6 of article 2 of the Checks Law – shall not constitute an endorsement, serving for the purposes of identification of the presenter and being able, where appropriate, to serve as a receipt.

Endorsements inserted to carry out the collection management of the documents referred to in the third and fourth paragraphs of point 5.1.2 shall not be counted as endorsements for the purposes of the limit established in point 5.1.1.

5.1.4. The endorsement must be pure and simple and shall contain the signature of the endorser or shall be made on the ECHEQ in accordance with the means established for that purpose, specifying their full names and surnames and identity document and, where applicable, the name of the legal entity they represent and the capacity invoked.

For the purposes of presenting for collection the check issued in paper format – directly at the drawee entity or through another depositary intermediary –, the presenter must include their address when inserting their signature for identification purposes.

5.1.5. Partial endorsement and that of the drawee are null.

5.1.6. An endorsement that does not contain the specifications established in point 5.1.4. does not prejudice the instrument or its transferability, and cannot be rejected for that deficiency.

5.1.7. In the case of checks issued in paper format, the addition of sheets for the purpose of transmitting or guaranteeing the instrument shall only proceed for reasons of space. For such purposes, the intervening party responsible for its addition must sign covering both the exhausted element and the new one.

5.1.8. In all other aspects related to the figure of endorsement, the provisions of the Checks Law shall apply.

5.2. Crossed check.

Checks with general or special crossing may be paid directly to clients, for which purpose the holders of current accounts and/or savings accounts of the drawee entity shall be understood as such.

5.3. Check for credit to account.

Upon presentation of an instrument with that condition, the drawee entity may only settle the check by means of an accounting entry. The striking out of said legend shall be deemed not made.

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5.4. Imputed check.

The aforementioned clause – with the imputation of payment – only produces effect between the inserter and their immediate holder, excluding the drawee from liability. Only the payee may endorse it and, in such case, the check maintains its negotiability.

Consequently, the liability of a financial entity, in this case, shall arise from its eventual capacity as beneficiary or holder of an instrument extended under those conditions, regardless of whether it is the drawee or the depositary.

5.5. Certified check.

5.5.1. The bank that, in use of the powers conferred by articles 48 and 49 of the Checks Law, certifies a check at the request of the drawer or the holder, must record the term for which it is extended, as well as that such certification must be evidenced in the manner provided in point 5.5.4.

5.5.2. The certification shall imply that the drawee debits and reserves the pertinent amounts for an agreed period that may not exceed 5 banking business days.

5.5.3. Upon expiration of the agreed term without the check having been presented for collection, the account shall be credited again.

A certified check expired as such subsists with all the effects proper to a check.

5.5.4. Simultaneously, the drawee bank – in its capacity as certifier – shall issue and deliver to the drawer or the holder of the check issued in paper format – duly signed by the officers authorized for that purpose – a “certification form”, in which it shall record the identifying data of the check, the date of issuance, its amount and the time for which it is extended.

When the certification is issued on an ECHEQ, the certifying entity must proceed to register the update with the repository.

5.5.5. The certification forms shall observe the same requirements on dimension, format, paper quality and safeguards regarding security measures that have been adopted with respect to the checks in use in each entity, and shall be duly identified by series and number. Within each series the numbering shall be consecutive.

5.5.6. The certification forms shall also be composed of a stub that shall serve as control for the drawee bank, with respect to the certifications issued, with the minimum data established. Said stub may be replaced, at the bank's option, by a duplicate of the “certification form”.

5.5.7. Banks shall adopt all measures tending to keep non-integrated certification forms safely without using them.

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REGULATION OF THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 5. Endorsements, special modalities of issuance and guarantee.

5.5.8. When a check drawn in paper format is presented for collection through a financial entity, its stamp shall certify that the corresponding “certification form” is in its possession, which must be kept until the drawee accepts the check drawn on its account.

5.6. Guarantee.

5.6.1. It shall contain, at a minimum, the expression “per aval” or another equivalent, the signature of the guarantor, indicating their full names and surnames and, if applicable, the denomination of the legal entity they represent and the capacity in which they do so, their address and, if applicable, the type and number of identity document, in accordance with the provisions of point 1.3.1.9.

5.6.2. When the guarantee of a deferred payment check is granted by a bank, such circumstance shall be recorded in the transferable nominative certificate that the guaranteeing entity must issue, according to the procedure provided in point 4.4.

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6.1.2.4. Lack of additional signatures to the existing one(s), when the signature of more than one person is required.

6.1.2.5. Signer included in the “Central de cuentacorrentistas inhabilitados” at the time of issuance of the check.

6.1.2.6. Lack of conformity in the receipt of checkbooks (point 1.4.6.).

6.1.2.7. Drawing on the drawer, unless it is a check drawn between different establishments of the same drawer.

6.1.3. Other reasons.

They are defined as those that generate the impossibility of proceeding to the payment of a check or that did not exist or were unknown to the drawer at the time of its issuance.

Exhaustively, they are:

6.1.3.1. Report of loss, theft or adulteration (made under the conditions provided in the Check Law and in this regulation) of the check.

6.1.3.2. Causes of force majeure at the time of presentation of the check that prevent its payment (i.e., that constitute impediments motivated by an insurmountable obstacle, such as legal prescription of any State or others of a category assimilable at the discretion of the BCRA).

6.1.3.3. Irregularities in the chain of endorsements.

6.1.3.4. Legal validity period expired.

6.1.3.5. Date of presentation for collection or deposit of a deferred payment check prior to the payment date. Rejection for this cause does not prevent a new presentation.

6.1.3.6. Judicial order (precautionary measures, closure of the account, etc.).

6.1.3.7. Preventive concurso of the drawer, declared judicially, only with respect to deferred payment checks that meet the conditions mentioned in point 6.4.6.5.

6.1.3.8. Adulteration or falsification of the check or its signatures detected by the drawee bank or the depositary.

6.1.3.9. Containing endorsements that exceed the limit established in point 5.1.1., as applicable.

6.1.3.10. Not having the expression “presented electronically for collection” – on the front and/or back of the physical document –, only in the case of checks presented electronically for collection and whose image has been captured by the client.

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6.4. Procedure.

6.4.1. When a financial entity refuses to pay a check – common or deferred payment –, whether presented directly by the holder before the drawee or through clearing systems, before returning it it must record that refusal on the back of the same instrument or in a related addendum or register it before the ECHEQ repository – producing in the three cases the effects provided in article 38 of the Check Law –, with express mention of:

6.4.1.1. All the reasons on which it is based. Terms not provided in the Check Law or in this regulation may not be used.

When there are not sufficient available funds in the respective account, the mention to be included regarding that reason shall be “Sin fondos suficientes disponibles en cuenta”.

6.4.1.2. Date and time of presentation. When the return is processed through a clearing house, the date and time shall refer to the moment in which the rejection by the drawee entity took place.

6.4.1.3. Denomination of the account against which it was drawn.

6.4.1.4. Address registered in the drawee bank when it does not coincide with the one inserted in the body of the check.

6.4.1.5. Signature of authorized person.

The absence of any of these requirements shall make the entity responsible for the damages it causes.

In addition, upon subsequent request of the holder, processed through the depositary entity or directly made at the drawee entity, it shall be appropriate to inform the full names and surnames of the signer(s) of the check and their respective real address(es), without this implying any cost for the presenter and/or account holder.

6.4.2. When the drawee entity rejects the registration, it shall proceed to record such determination on the back of the check and return it to the presenter (beneficiary of the instrument or depositary entity, as the case may be). Likewise, it shall be appropriate for it to produce the pertinent information to the BCRA, in accordance with the established operating regime, except in the situation provided in the last two paragraphs of point 6.3.3.

6.4.3. Upon each of the rejections provided in points 6.1.1., 6.1.2. and 6.3. – except in the situation provided in the last two paragraphs of point 6.3.3. –, the drawee shall proceed to communicate it to the drawer, account holder, agent, attorney, administrator, or similar figures, leaving record in their respective file, and to the guarantors, within 48 business hours of its occurrence, and to the BCRA at the opportunity and through the specifications of the operating guide.

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Each communication to the BCRA shall include information, referring to those situations, with an age no greater than 10 banking business days.

6.4.4. Simultaneously, the drawee shall proceed to communicate it –in the same manner– to the holder or presenter, indicating the date and number of the aforementioned communication to the Central Bank, which shall be considered fulfilled if such data are included on the check that is returned.

6.4.5. The holder of a check rejected for insufficient funds or lack of registration may verify the communication of such circumstance to the BCRA by visiting the website that this Institution has on the Internet (www.bcra.gob.ar) or –in order to have reliable proof– request an official certification by submitting a request –with a fee– for each check consulted, through the procedure established for that purpose.

When, together with insufficient funds, there is also the existence of a report of loss and –eventually– the account holder has not proven the pertinent initiation of proceedings before the court within the established period (10 calendar days from the respective rejection), such verification may be made once the aforementioned period has elapsed.

6.4.6. Communication to the BCRA shall not be required for rejections motivated by:

6.4.6.1. The forgery or adulteration of checks.

It shall be an indispensable requirement that the current account holder complies with the requirement referred to in point 7.3.3.2. i). In the case of adulteration, the rejection of the check shall not be communicated when there are sufficient funds to pay it had the fraudulent act not occurred.

6.4.6.2. The payment of forged or adulterated checks.

6.4.6.3. Errors attributable to the drawee entity itself. The rejection of the check with respect to which there has been verbal authorization to overdraw shall not be considered an error.

6.4.6.4. Having ordered precautionary measures on the funds destined for the payment of the check, provided that such circumstance was unknown to the drawer at the time of its issuance, which must be sufficiently proven by the latter, to the satisfaction of the drawee entity.

6.4.6.5. Having been judicially declared the preventive reorganization of the drawer and provided that it concerns deferred payment checks issued up to the day before the date of presentation of the request for the opening of that process and their payment date is after it.

Furthermore, in the cases of points 6.4.6.2. to 6.4.6.4. the rejections shall not be communicated only in cases where it would have been possible to honor them with the existing balance in the account had the payment not been made, the error not been incurred, or the precautionary measure not been ordered.

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7.1. Scope.

The rules of this section apply to all checks, to check forms whether or not they have been delivered to customers and/or to the special form to request them and, where applicable, to registered nominative certificates.

7.2. Obligations on the part of the holder or, where applicable, the dispossessed holder.

7.2.1. Immediately communicate the contingency that occurred to the entity, by telephone or by another appropriate means.

7.2.2. Personally ratify, on the same day, the report at any branch of the financial entity by means of a note with the following minimum data:

7.2.2.1. Name of the entity and of the branch where the account is opened.

7.2.2.2. Number and name of the account.

7.2.2.3. Reason for the report.

7.2.2.4. Type and numbers of the affected documents.

7.2.2.5. Full names and surnames of the reporting parties, type and number of the documents they present to establish their identification in accordance with the provisions of point 1.3.1.9.

7.2.3. Add, within 48 business hours of the presentation of the note referred to in point 7.2.2., reliable proof of the pertinent report, made before the competent authority, in accordance with the provisions of the regulations in force in the jurisdiction in question.

7.3. Obligations on the part of the bank.

7.3.1. When the provisions of points 7.2.2. and/or 7.2.3. have been complied with.

7.3.1.1. Reject the payment of the checks or registered nominative certificates and the registration of deferred payment checks, under the responsibility of the reporting party, that are presented for collection or registration, respectively, retaining the corresponding document or reporting the update on the ECHEQ, as applicable.

7.3.1.2. Record on the back of checks issued in paper format or rejected transferable nominative certificates: “Check or transferable nominative certificate (lost, stolen or adulterated), as reported. Drawer's signature differs. No sufficient funds available in account”. In these last two cases, if applicable.

The information described above must be recorded in the repository when it concerns ECHEQ.

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7.3.1.3. Photocopy in duplicate the front and back of the check issued in paper format or rejected transferable nominative certificate.

7.3.1.4. In the case of checks issued in paper format, identify the presenter of the rejected check or transferable nominative certificate, who must sign on the back of the corresponding photocopy, indicating the identity document exhibited.

When the collection or registration process has been carried out with the intervention of a clearing house, the drawee entity shall send 2 photocopies of the instrument whose payment is rejected and the depositary entity shall take charge of the identification task referred to in the previous paragraph, with subsequent return of one of those copies to the drawee entity

In both cases, the presenter shall be the recipient of the other photocopy certified by the drawee entity.

7.3.1.5. Report, within the following 24 business hours after receipt of the complaint containing all the identifying data of the check, to the BCRA so that the documents mentioned in point 7.1., except the special form to request checkbooks, are included in the "Central de cheques denunciados como extraviados, sustraídos o adulterados", in accordance with the procedure established in the corresponding operating guide to be disseminated by this Institution.

The information referring to these documents will be removed when the intervening financial entity has reported, in accordance with the corresponding operating guide, the presentation for collection or when the checks must be removed due to the application of the provisions of point 7.3.3.2. iii).

7.3.2. In case of complaint of theft or adulteration.

7.3.2.1. Send the check drawn in paper format or rejected transferable nominative certificate –retained as provided in point 7.3.1.– to the intervening court.

7.3.2.2. File the proceedings related to the complaint received and to the rejections made for such reason.

7.3.2.3. When the drawer, the beneficiary, the endorser, or a person authorized to act on their behalf, gives an order not to pay an ECHEQ invoking its adulteration –including its apocryphal issuance– the provisions on loss, theft or adulteration provided in point 7.2. shall apply, and additionally the possibility of drawing new ECHEQs or endorsing them must be suspended until compliance with the obligation to present proof of having reported the fact as a crime under the terms of point 7.2.3. Only when it has such proof, and having previously analyzed that the circumstances of the case do not warrant maintaining the suspension, may the financial entity authorize the current account holder to draw and/or endorse new ECHEQs.

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7.3.3. In case of complaint of loss.

7.3.3.1. When the entity, as a consequence of previous rejections related to the same complaint, has knowledge of the intervening court:

i) Send the rejected check or transferable nominative certificate –retained as provided in point 7.3.1.– to said venue.

ii) File the proceedings related to the complaint received and to the rejections made for such reason.

7.3.3.2. When the bank does not know the intervening court.

i) Request reliably from the current account holder, within 48 banking business hours of each rejection, that within a term of 10 calendar days counted from said date they prove the filing of the pertinent complaint before the competent Judge, by presenting an authenticated copy.

ii) If the current account holder proves said filing, send the rejected check or transferable nominative certificate –retained as provided in point 7.3.1.– to the court intervening in the case.

iii) When the current account holder does not prove the filing of the judicial complaint, report to the BCRA, so that each rejection is included in the "Central de cheques rechazados".

For this purpose, it is appropriate that at the moment in which the pertinent information becomes available in the aforementioned bank, the Superintendencia de Entidades Financieras y Cambiarias –Gestión de la Información– has the detail of the actions carried out and of the respective supporting documents.

The filing of the aforementioned complaint outside the term established in point 7.3.3.2. i) may give rise to the actions to achieve the eventual removal of the rejections from that central.

iv) File the proceedings related to the complaint received and to the rejections made for such reason.

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REGLAMENTACIÓN DE LA CUENTA CORRIENTE BANCARIA B.C.R.A.
Section 8. “Central of rejected cheques”, “Central of current account hold-
bilitados” and “Central de cheques reported as lost, stolen or adulterated”.

8.2.3. In the "Central de cheques denunciados como extraviados, sustraídos o adulterados".

8.2.3.1. The holder or dispossessed bearer has reported to the entity the loss, theft or adulteration of the documents mentioned in point 7.1., except the special form to request checkbooks.

8.2.3.2. The entity has reported the loss, theft or adulteration in any of its branches of the documents mentioned in point 7.1., except the special form to request checkbooks.

8.3. Cancellations of rejected checks.

It will be demonstrated with any of the following alternatives:

8.3.1. Presentation of the checkbook or certificate for the exercise of civil actions –as applicable– before the drawee, which will retain them to apply the normal course generally applicable to paid checks.

8.3.2. Deposit in the drawee bank of the amounts of the relevant checks plus interest calculated from the date of rejection to the date of the deposit of the funds –with express record of the identifying data to which they must be attributed–. For such purposes, the rate applied by the Banco de la Nación Argentina for unsolicited overdrafts in current accounts, in effect on the day prior to the date of the deposit, shall be used.

The operation may be recorded in the customer's current account, separating the respective amounts, or in a special demand deposit account.

The deposited funds shall be credited:

− Upon presentation of the respective instrument or certificate for the exercise of civil actions –as applicable– before the drawee bank.

It shall be a necessary requirement that such presentation be made through another banking institution, when the recovery of the amounts is managed by any of the persons –other than the drawer– with a legitimate title (depositors, endorsers or guarantors) who are not clients of the aforementioned institution of the drawee bank.

− To the drawer, once the periods for bringing legal actions have expired –by the holder against the drawer, endorsers and guarantors and/or among the various obligors as legally established–, without the drawee having been formally notified of any filing in this regard.

8.3.3. Receipt of payment issued by the creditor whose signature is certified by a notary public, by a competent judicial official, or by the drawee bank in the case of checks issued in paper format.

In the case of ECHEQ, the aforementioned receipt shall be issued by the legitimate holder, in accordance with the information provided by the repository administrator.

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Section 8. "Rejected Check Registry", "Registry of Disabled Current Account Holders" and "Registry of Checks Reported as Lost, Stolen or Altered".

8.3.4. Judicial deposit of the amount of the checks plus interest according to the rate applied by the Banco de la Nación Argentina for unsolicited overdrafts in current accounts, calculated from the date of rejection to the date of deposit.

8.3.5. Return of ECHEQ to the drawer ordered by the legitimate holder to the financial institution of which the latter is a client.

8.4. Cancellation of fines after the legally established period has expired.

It shall be demonstrated with any of the following alternatives:

8.4.1. Deposit in the drawee bank of the relevant amounts with express record of the identifying data to which they must be attributed.

8.4.2. Judicial deposit of the amount of the fine.

8.5. Guidelines for inclusion.

8.5.1. The situations recorded by each person shall be considered.

8.5.2. In the case of checks signed by the person in whose name an account is held, in their capacity as agent, attorney, administrator, or similar figures, it shall also be appropriate to make the inclusion effective in relation to the respective holder, principal, grantor, administered person, or similar figures, to the extent that they are documents drawn against that account.

8.5.3. In the case of checks drawn on accounts in the name of legal entities, inclusion shall also be made with respect to their legal representative, even if they have not signed any of the documents that give rise to the measure.

8.5.4. Inclusion shall not apply to attorneys for the use of the current account or to persons simply authorized to sign checks or to holders, in accounts to the reciprocal order, to the extent that they have not signed the rejected documents.

8.6. Information to the Central Bank of the Argentine Republic.

8.6.1. The cases covered in points 8.3. and 8.4. shall be reported to the BCRA through the respective head office of each institution, with the exception of those corresponding to the branches of foreign banks, which shall be sent through their main office in the country, within 10 calendar days of the fulfillment of any of the requirements provided for having been verified.

8.6.2. It shall comply with the provisions of the relevant operational regime, based on the CUIT, CUIL or CDI number corresponding to the holders of the current accounts and the legal representatives, as well as those of the natural persons who signed the checks that were rejected.

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REGULATIONS FOR THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 8. "Rejected Check Registry", "Registry of Disabled Current Account Hold-
ers" and "Registry of Checks Reported as Lost, Stolen or Altered".

8.6.3. The person responsible for the information regime and the external auditor of the institution shall verify compliance with the established requirements and procedures, and their conclusions shall be set forth semiannually in a special report, in accordance with the rules established in this regard.

This provision does not replace the obligation to report to the BCRA the rejections and/or payment of the corresponding fines, within the periods generally established (points 6.4. and 6.5., respectively).

8.7. Failure to provide information. Sanctions.

Institutions that fail to comply with the obligation to report the rejections or cancellations of checks included in the "Rejected Check Registry" or the payment of the fines created by Law 25.730 or the reporting of said documents in the "Registry of Checks Reported as Lost, Stolen or Altered", in the time and manner established in the operational regime, may be sanctioned in accordance with article 41 of the Financial Institutions Law.

8.8. Exclusion of persons included.

8.8.1. Registry of Disabled Current Account Holders.

8.8.1.1. The disqualifications arising from the failure to pay the corresponding fine for each rejected check shall cease within 30 calendar days counted from the date on which the cancellation of the entirety of the fines is verified and proven.

In the event that the fines are not cancelled under the conditions indicated, the effects of the disqualification for operating a current account shall cease after 24 months counted from the inclusion in the database.

The corresponding current account holders shall be excluded from said clearinghouse as from the expiry of the aforementioned terms.

8.8.1.2. Persons who are disqualified by judicial decision or for other legal reasons shall be excluded from the database when the term provided for in those decisions expires or, where applicable, when the circumstance is revoked by the competent magistrate.

8.8.2. Opening of accounts with forged documentation.

In order to be excluded from the "Rejected Checks Clearinghouse" and/or the "Disqualified Current Account Holders Clearinghouse", persons who have been incorporated into them as a consequence of this reason shall make a submission to the bank that reported the rejections, in which they shall succinctly set out the facts that occurred, together with the following elements:

8.8.2.1. Original judicial certification proving that the corresponding criminal complaint has been filed for the criminal act consisting of opening a current account under the aforementioned conditions.

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REGULATIONS FOR THE BANK CURRENT ACCOUNT
B.C.R.A.
Section 10. Notices.

10.1. General aspects.

Notices that, in compliance with the Check Law and these regulations, must be sent to drawers, current account holders, presenters or holders of checks, or guarantors shall be issued, preferably by using electronic communication mechanisms, within 48 business hours of the occurrence of the cause that determines the obligation to send.

The failure of the drawer or the current account holder to receive the notices referred to in these rules shall not invalidate the effects of the measures provided for (inclusion in the "Rejected Checks Clearinghouse" and in the "Disqualified Current Account Holders Clearinghouse").

10.2. Minimum content.

10.2.1. Common requirements.

10.2.1.1. Identification of the sending entity, the head office or branch where the account is located, and address.

10.2.1.2. First and last name and/or corporate name of the recipient and their address.

10.2.1.3. Date of issue.

10.2.1.4. Capacity in which the notice was issued.

10.2.1.5. Number of the current account to which the notice is charged.

10.2.1.6. Reason for which the notification is issued (rejection – stating one of the legally and regulatory provided causes –, closure of the current account or suspension of the check payment service prior to its closure – indicating in both cases the reason invoked –, retention of deferred payment checks – at the time of their registration – to correct defects).

10.2.1.7. Sequential order of the notice.

10.2.1.8. Identification of the two sending officials, authorized for that purpose by the drawee entity.

10.2.2. Additional requirements in notices of rejection of payment or registration of checks.

10.2.2.1. Addressed to account holders, drawers and guarantors.

i) Address registered with the drawee bank.

ii) Detail of the check/s, number and amount.

iii) Number of the communication and the date on which – if applicable – the pertinent notice was sent to the BCRA for its inclusion in the “Central de cheques rechazados”.

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B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON “REGULATION OF THE BANK CURRENT ACCOUNT”

CONSOLIDATED TEXT	SOURCE RULE
Sect.	Point	Para.	Com.	Annex Chap. Sect.	Point	Para.	OBSERVATIONS
	“A” 3244				1.
1.1. “A” 3244					1.1.		S/Com. “A” 5520, 5612 and 6639.
1.2. “A” 3075					1.1.		S/Com. “A” 3244 and 3827 (point 10.).
1.3. “A” 2514	sole				1.1.1. and 1.1.1.1.		S/Com. “A” 3075 and 3244.
1.3.1. “A” 2514	sole				1.1.1.1.		S/Com. “A” 3075 and 3244.
1.3.1.1. “A” 2514	sole				1.1.1.1.1.
1.3.1.2. "A" 2514	sole				1.1.1.1.2.
1.3.1.3. "A" 2514	sole				1.1.1.1.3.
1.3.1.4. "A" 2514	sole				1.1.1.1.4.
1.3.1.5. "A" 2514	sole				1.1.1.1.5.		S/Com. "A" 3244.
1.3.1.6. "A" 2514	sole				1.1.1.1.6.		S/Com. "A" 3075, 6273 and 6709.
1.3.1.7. "A" 2514	sole				1.1.1.1.9.		S/Com. "A" 3075, 5387 and 5728.
1.3.1.8. "A" 6709					3.
1.3.2. "A" 2514	sole				1.1.1.7.
1.3.2.1. "A" 2514	sole				1.1.1.7.1.
1.3.2.2. "A" 2514	sole				1.1.1.7.1.		S/Com. "A" 3075.
1.3.2.3. "A" 2514	sole				1.1.1.7.2.		S/Com. "A" 3075.
1.3.2.4. "A" 2514	sole				1.1.1.7.3.		S/Com. "A" 6273 and 6709.
1.3.2.5. "A" 2514	sole				1.1.1.1.6.		S/Com. "A" 6273.
1.3.2.6. "A" 2514	sole				1.1.1.7.4.
1.3.2. last "A" 6273
1.3.3. "A" 3075				1.	1.2.4.		S/Com. "A" 3244.
1.4. "A" 2514	sole				1.1.1.1. and 1.1.1.7.		S/Com. "A" 3244.
1.4.1. "A" 2514	sole				1.1.1.2. and 1.1.1.7.		S/Com. "A" 3225 and 3244.
1.4.2. "A" 2514	sole				1.1.1.5. and 1.1.1.8.		S/Com. "A" 3075 and 3244.
1.4.3. "A" 3075					1.2.3.3.		S/Com. "A" 3244 and 3831.
1.4.4. "A" 2514	sole				1.1.2.		S/Com. "A" 3075, 3244 and 4063 (item 1.).
1.4.5. "A" 2514	sole				1.1.3.		S/Com. "A" 3244 and 6725.
1.4.6. "A" 2514	sole				1.1.4.		S/Com. "A" 6725.
1.5. "A" 2514	sole				1.2.		S/Com. "A" 3244.
1.5.1. "A" 2514	sole				1.2.1.
1st "A" 2514	sole				1.2.1.1.		S/Com. "A" 3075.
1. 1.5.1.1.	2nd "A" 2514	sole			1.1.1.3.	2nd S/Com. "A" 3075.

REGULATION OF THE BANK CURRENT ACCOUNT

CONSOLIDATED TEXT			SOURCE RULE						OBSERVATIONS
Sect.	Point	Para.	Com.	Annex Chap. Sect.	Point	Para.
1.	1.5.1.2.		"A" 2514	Sole		1.2.1.2.			S/Com. "A" 3244.
	1.5.1.3.		"A" 2514	Sole		1.2.1.3.
	1.5.1.4.		"A" 2514	Sole		1.2.1.4.			S/Com. "A" 6725.
	1.5.1.5.		"A" 2514	Sole		1.2.1.5.			S/Com. "A" 6725.
	1.5.1.6.		"A" 2514	Sole		1.2.1.6.			S/Com. "A" 3075 and 3244.
	1.5.1.7.		"A" 2514	Sole		1.2.1.7.			S/Com. "A" 3075.
	1.5.1.8.		"A" 2514	Sole		1.1.1.3. and 1.2.1.8.		1st	S/Com. "A" 3831.
	1.5.1.9.		"A" 6725
	1.5.1.10.		"A" 6725
	1.5.1.11.		"A" 6725
	1.5.1.12.		"A" 6725
	1.5.1.13.		"A" 6725
	1.5.2.		"A" 2514	Sole		1.2.2.
	1.5.2.1.		"A" 2514	Sole		1.2.2.1.
	1.5.2.2.		"A" 2514	Sole		1.2.2.2.			S/Com. "A" 3075.
	1.5.2.3.	1st	"A" 2514	Sole		1.2.2.3.		1st	S/Com. "A" 3075, 3323, 4971 (item 1.), 5000 and 5022.
		2nd	"A" 2621			2.			S/Com. "A" 3014 (item 3.7.1.6.).
		3rd	“A” 2514	Sole		1.2.2.3.		4°	S/Com. “A” 5161.
		4°	“A” 3075
		5°	“A” 2807			6.			S/Com. “A” 3244, 3323 and 6462.
	1.5.2.4.		“A” 2514	Sole		1.2.2.4.			S/Com. “A” 3075, 3244 and 6725.
	1.5.2.5.		“A” 2514	Sole		1.2.2.5.			S/Com. “A” 3075.
	1.5.2.6.		“A” 2514	Sole		1.2.2.6.		1° and 2°	S/Com. “A” 3244 and 6725.
	1.5.2.7.	1°	“A” 2514	Sole		1.2.2.7.		1°	S/Com. “A” 2779, 3075 and 6725.
		2°	“A” 2514	Sole		1.2.2.7.		2°	S/Com. “A” 2779.
	1.5.2.8.	1°	“A” 2514	Sole		1.2.2.8.			S/Com. “A” 3244.
		2°	“A” 2814			2.			S/Com. “A” 3831.
	1.5.2.9.	1°	“A” 2514	Sole		1.2.2.9.		1°	S/Com. “A” 6725.
		2°	“A” 2514	Sole		1.2.2.9.		3°	S/Com. “A” 3075 and 3244.
		3°	“A” 2514	Sole		1.2.2.9.		2°
	1.5.2.10.	1°	“A” 2514	Sole		1.2.2.10.			S/Com. “A” 3075 and 5482.
		2°	“A” 2468			1.		5°	S/Com. “A” 5482.
	1.5.2.11.		“A” 2514	Sole		1.2.2.11.			S/Com. “A” 3075, 3244 and 4063 (item 1.).
	1.5.2.12.		“A” 2514	Sole		1.2.2.	2°, 3° and 4°		S/Com. “A” 2864 (item 3.) and 3244.
	1.5.2.13.		“A” 2514	Sole		1.2.2.14.			S/Com. “A” 6725.

REGULATION OF THE BANK CURRENT ACCOUNT
CONSOLIDATED TEXT
SOURCE STANDARD

Sect.	Point	Para.	Comm.	Annex Chap. Sect.	Point	Para.		OBSERVATIONS
1.	1.5.2.14.	1° and 2°	“A” 2508	Sole			2°	S/Com. “A” 2621 (item 3.) and 3244.
		3°	“A” 2508	Sole			3°
	1.5.2.15.		“A” 2530					S/Com. “A” 3075 and 3244.
	1.5.2.16.		"A" 6725
	1.5.2.17.		"A" 6725
	1.5.2.18.		"A" 6725
	1.5.2.19.		"A" 6725
	1.5.3.		"A" 2468			1.	1°	S/Com. "A" 3075, 5461, 5482, 5928 and 6681.
	1.5.4.		"A" 2514	Sole		1.1.1.4.		S/Com. "A" 2621, 3075 and 3244.
	1.5.4.3.		"A" 2514	Sole		1.1.1.4.		S/Com. "A" 2621, 3075, 3244 and 5482.
	1.5.5.		"A" 2514	Sole		1.1.1.6.	1°	S/Com. "A" 3244 and 4063 (item 1.).
	1.5.6.		"A" 3244			1.5.6.
			"A" 3244			2.
2.	2.1.		"A" 2514	Sole		1.3.1.
	2.1.1.		"A" 2514	Sole		1.3.1.1.	1°	S/Com. "A" 3075.
	2.1.1.1.		"A" 2514	Sole		1.3.1.1.1.
	2.1.1.2.		"A" 2514	Sole		1.3.1.1.2.
	2.1.1.3.		"A" 2514	Sole		1.3.1.1.3.
	2.1.1.4.		"A" 2514	Sole		1.3.1.1.4.
	2.1.1.5.		“A” 2514	Sole		1.3.1.1.5. and 1.3.1.1.6.		S/Com. “A” 4936, 4971 (item 2.) and 5000.
	2.1.1.6.		“A” 2514	Sole		1.3.1.1.	Last
	2.1.1.	Last	“A” 3075
	2.1.2.		“A” 2514	Sole		1.3.1.2.		S/Com. “A” 3075.
	2.1.3.		“A” 2514	Sole		1.3.1.2.
	2.1.4.		“A” 2514	Sole		1.3.1.2.
	2.1.	Last	“A” 3075
	2.2.1.		“A” 2514	Sole		1.3.2.1.		S/Com. “A” 3244 and 3249.
	2.2.2.		“A” 2514	Sole		1.3.2.2.		S/Com. “A” 3075 and 6725.
	2.2.3.		“A” 2514	Sole		1.3.2.3.		S/Com. “A” 3244.
	2.2.4.		“A” 2514	Sole		1.3.2.4.		S/Com. “A” 3075 and 6725.
	2.2.	Last	“A” 6725
	2.3.		“A” 2514	Sole		1.14.		S/Com. “A” 5068 and 6148.
	2.4.		“A” 2514	Sole		1.15.		S/Com. “A” 2779 and 6725.
	2.5.		“A” 6725
			“A” 3075
3.	3.1.		“A” 2514	Sole		1.3.2.1.		S/Com. “A” 3075 and 6725.
	3.2.	1°	“A” 2864			1.

REGULATION OF THE BANK CURRENT ACCOUNT

CONSOLIDATED TEXT				SOURCE RULE					OBSERVATIONS
Sect.	Point	Para.	Comm.	Annex	Chap.	Sect.	Point	Para.
	3.2.1.		“A” 2864				1.1.		S/Com. “A” 3075 and 6725.
	3.2.2.		“A” 2864				1.2.
	3.2.3.		“A” 2864				1.3.
	3.2.4.		“A” 2864				1.4.
	3.2.5.		“B” 6348						S/Com. “A” 3075.
	3.2.	last	“A” 3075
	3.3.		“A” 2602						S/Com. “A” 6725.
	3.3.1.		“A” 2602				1.		S/Com. “A” 3075.
	3.3.2.		“A” 2602	sole			3.
	3.3.3.	1°	“A” 2602	único			2.	3°
		2°	“A” 2602	único			2.3.
	3.3.4.		“A” 2602	único			2.1.		S/Com. “A” 6725.
	3.3.5.		“A” 2602	único			2.2.
	3.3.6.		“A” 2602	único			1.
	3.3.6.1.		“A” 2602	único			2. i)	1°
	3.3.6.2.		“A” 2602	único			2. i)	2°
	3.3.7.		“A” 2602	único			1.1.		S/Com. “A” 3323 and 5535.
	3.3.8.		“B” 6426					2°
	3.3.8.1.		“B” 6426	único			1.
	3.3.8.2.		“B” 6426	único			2.		S/Com. “A” 3235.
	3.3.8.3.		“B” 6426	único			3.
	3.3.8.4.		“B” 6426	único			4.
	3.3.8.5.		“B” 6426	único			5.		S/Com. "A" 6725.
	3.3.9.		"A" 2602	único			1.2.
	3.3.10.		"A" 2602	único			1.3.
	3.4.		"A" 6071						S/Com. "A" 6725.
3.
	3.5.		"A" 6578						S/Com. "A" 6725.
			"A" 2514	único			1.3.7.
	4.1.		"A" 2514	único			1.3.7. and		S/Com. "A" 3075, 4010 and
							1.3.7.1.		6725.
	4.2.		"A" 2514	único			1.3.7.1.		S/Com. "A" 3163 and 6725.
	4.2.1.		"A" 2514	único			1.3.7.10.	1°
	4.2.2.		"A" 3075
	4.2.2.1.		"A" 2514	único			1.3.7.2.		S/Com. "A" 3075.
	4.2.2.2.		"A" 2514	único			1.3.7.3.
	4.2.2.3.		"A" 3075
	4.2.2.4.		"A" 2514	único			1.3.7.4.		S/Com. "A" 3163.
	4.2.2.5.		"A" 2514	único			1.3.7.5.		S/Com. "A" 3075.
	4.2.2.6.		"A" 2514	único			1.3.7.5.
	4.2.3.		"A" 2514	único			1.3.7.10.	2°
		1°	"A" 2514	único			1.3.3.	2°
		2°	"A" 2514	único			1.3.7.1.	in fine	S/Com. "A" 6725.
4.
	4.3.
		3°	"A" 2514	único			1.3.3.	1°

CENTRAL BANK OF THE ARGENTINE REPUBLIC

REGULATION OF THE BANK CURRENT ACCOUNT

CONSOLIDATED TEXT				SOURCE RULE
Sect.	Point	Para.	Comm.	Annex Chap. Sect.	Point	Para.		OBSERVATIONS
4.	4.4.1.	1°	"A" 2514	único	1.3.7.6.	1°
		2°	"A" 3075
	4.4.2.		"A" 2514	único	1.3.7.6.	2°
	4.4.3.		"A" 2514	único	1.3.7.6.	3°
	4.4.4.		"A" 2514	sole	1.3.7.6.	4°
	4.4.5.		“A” 2514	sole	1.3.7.7.			S/Com. “A” 4010.
	4.4.6.		“A” 2514	sole	1.3.7.8.
	4.5.		“A” 4010					S/Com. “A” 6725.
			“A” 2514	sole	1.3.4., 1.3.5. and 1.3.6.
	5.1.		“A” 2514	sole	1.3.4.
	5.1.1.		“A” 3244		5.1.1.			S/Com. “A” 3294, 3851, 4010, 4272, 4464, 4611, 4755, 4868, 4889, 5025, 5263, 5508, 5869, 6422, 6578 and “B” 9402.
	5.1.2.		“A” 2514	sole	1.3.4.1.	1°		S/Com. “A” 4010, 4971 (item 3.), 5000 and 6725.
	5.1.3.		“A” 2514	sole	1.3.4.1.	2°		S/Com. “A” 3075, 4971 (item 4.) and 5000.
	5.1.4.	1°	“A” 2514	sole	1.3.4.2.			S/Com. “A” 3075 and 6725.
		2°	“A” 3075					S/Com. “A” 6725.
	5.1.5.		“A” 2514	sole	1.3.4.3.
	5.1.6.		“A” 2514	sole	1.3.4.4.			S/Com. “A” 3075 and 3244.
	5.1.7.		“A” 2514	sole	1.3.4.6.			S/Com. “A” 6725.
	5.1.8.		“A” 2514	único	1.3.4.7.
	5.2.		“A” 2514	único	1.2.2.6.	3°
	5.3.		“A” 3075
	5.4.		“A” 3075					S/Com. “A” 6725.
	5.5.		“A” 2514	único	1.3.5.
	5.5.1.		“A” 2514	único	1.3.5.1. and 1.9.2.			S/Com. “A” 6725.
	5.5.2.		“A” 2514	único	1.3.5.2.
	5.5.3.		“A” 2514	único	1.3.5.3.
	5.5.4.		“A” 2514	único	1.3.5.4. and 1.9.3.			S/Com. “A” 6725.
	5.5.5.		“A” 2514	único	1.3.5.5.
	5.5.6.		“A” 2514	único	1.3.5.6.
	5.5.7.		“A” 2514	único	1.3.5.7.			S/Com. “A” 3075.
	5.5.8.		“A” 2514	único	1.3.5.8.			S/Com. “A” 6725.
	5.6.		“A” 2514	único	1.3.6.
	5.6.1.		"A" 2514	sole	1.3.6.	1st		S/Com. "A" 3244.
5.	5.6.2.		"A" 2514	sole	1.3.6.	2nd

REGULATION OF THE BANK CURRENT ACCOUNT

REORDERED TEXT			SOURCE RULE					OBSERVATIONS
Sect.	Point	Para.	Comm.	Annex	Chap.	Sect.	Point	Para.
			"A" 2864				2.
	6.1.		"A" 2864				2.1.
	6.1.1.		"A" 2864				2.1.1.
	6.1.1.1.		"A" 2864				2.1.1.1.	S/Com. "A" 3075.
	6.1.1.2.		"A" 2864				2.1.1.2.	S/Com. "A" 3235.
	6.1.2.		"A" 2864				2.1.2.
	6.1.2.1.		"A" 2864				2.1.2.1.
	6.1.2.2.		"A" 2864				2.1.2.2.
	6.1.2.3.		"A" 2864				2.1.2.3.
	6.1.2.4.		"A" 2864				2.1.2.4.
	6.1.2.5.		"A" 2864				2.1.2.5.	S/Com. "A" 3244 and 4063.
	6.1.2.6.		“A” 2864				2.1.2.6.	S/Com. “A” 3244.
	6.1.2.7.		“A” 2864				2.1.2.7.
	6.1.3.		“A” 2864				2.1.3.
	6.1.3.1.		“A” 2864				2.1.3.1.	S/Com. “A” 6725.
	6.1.3.2.		“A” 2864				2.1.3.2.
	6.1.3.3.		“A” 2864				2.1.3.3.
	6.1.3.4.		“A” 2864				2.1.3.4.
	6.1.3.5.		“A” 2864				2.1.3.5.	S/Com. “A” 3075.
	6.1.3.6.		“A” 3075
	6.1.3.7.		“A” 3075
	6.1.3.8.		“A” 3075
	6.1.3.9.		“A” 3244				6.1.3.9.
	6.1.3.10.		“A” 6071					S/Com. “A” 6112.
	6.2.	1°	“A” 2864				2.2.	1°
	6.2.1.		“A” 2864				2.2.1.
	6.2.2.		“A” 2864				2.2.2.
	6.2.3.		“A” 2864				2.2.3.
	6.2.4.		“A” 2864				2.2.4.
	6.2.5.		“A” 2864				2.2.5.
	6.2.	last.	"A" 2864				2.2.	last
	6.3.		"A" 2864				2.3.
	6.3.1.		"A" 2864				2.3.1.
	6.3.2.		"A" 3244				6.3.2.
	6.3.3.	1°	"A" 2864				2.3.2.
		2°	"A" 3075					S/Com. "A" 3244 and 4063 (item 1.).
		3°	"A" 3075
	6.4.		"A" 2864				2.4.
	6.4.1.	1°	"A" 2864				2.4.1.	S/Com. "A" 6725.
	6.4.1.1.		"A" 2864				2.4.1.1. and 2.4.2.
	6.4.1.2.		"A" 2864				2.4.1.2.

6.

REGULATION OF THE BANK CURRENT ACCOUNT

	CONSOLIDATED TEXT				SOURCE RULE					OBSERVATIONS
Sect.	Item	Para.	Comm.	Annex	Chap.	Sect.	Item	Para.
	6.4.1.3.		"A" 2864				2.4.1.3.
	6.4.1.4.		"A" 2864				2.4.1.4.
	6.4.1.5.		"A" 2864				2.4.1.6.
	6.4.1.	2°	“A” 2864				2.4.1.7.
		3°	“A” 2514	único			1.15.2.		S/Com. “A” 2779.
			“A” 2864				2.4.1.5.
	6.4.2.		“A” 2864				2.4.3.		S/Com. “A” 3075 and 3244.
	6.4.3.		“A” 2864				2.4.4.		S/Com. “A” 3075 and 3244 and 6725.
	6.4.4.		“A” 2864				2.4.5.
	6.4.5.		“A” 2864				2.4.6.		S/Com. “A” 3235 and 3899.
	6.4.6.	1°	“A” 2864				2.4.7.	1°
	6.4.6.1.		“A” 2864				2.4.7.1.		S/Com. “A” 3244.
	6.4.6.2.		“A” 2864				2.4.7.2.
	6.4.6.3.		“A” 2864				2.4.7.3.
	6.4.6.4.		“A” 2864				2.4.7.4.
	6.4.6.5.		“A” 2864				2.4.7.5.		S/Com. “A” 2891.
	6.4.6.	last	“A” 2864				2.4.7.	last	S/Com. “A” 3244.
	6.4.7.	1°	“A” 2864				2.4.8.	1°	S/Com. “A” 4063 (item 2.).
	6.4.7.1.		“A” 2864				2.4.8.	2°	S/Com. “A” 3233 and 4063 (pt. 2.).
	6.4.7.2.		“A” 2864				2.4.8.	3°	S/Com. “A” 3075 and 3233.
	6.4.7.3.		“A” 2864				2.4.8.	8°	S/Com. “A” 2891 (pt. 2.), 3233, 3244, 4063 (pt. 2.) and 5712.
	6.4.7.	last	“A” 4063				2.
	6.4.8.		“A” 2864				2.4.9.
	6.4.9.		“A” 2864				2.4.10.
6.	6.5.		“A” 4063				3.
			“A” 2514	sole			1.3.9.
	7.1.		“A” 2514	sole			1.3.9.		S/Com. “A” 3075 and 4971 (pt. 5.).
	7.2.		“A” 2514	sole			1.3.9.1.
	7.2.1.		“A” 2514	sole			1.3.9.1.1.
	7.2.2.		“A” 2514	sole			1.3.9.1.2.		S/Com. “A” 3244 and 6725.
	7.2.3.		“A” 2514	sole			1.3.9.1.3.		S/Com. “A” 4579 and 4957.
	7.3.		“A” 2514	sole			1.3.9.2.	1°
	7.3.1.		“A” 3235						S/Com. "A" 4971 (item 5.).
	7.3.1.1.		"A" 2514	sole			1.3.9.2.1.		S/Com. "A" 3075 and 6725.
	7.3.1.2.		"A" 2514	sole			1.3.9.2.2.		S/Com. "A" 6725.
	7.3.1.3.		"A" 2514	sole			1.3.9.2.3.		S/Com. "A" 6725.
	7.3.1.4.		"A" 2514	sole			1.3.9.2.4.		S/Com. "A" 3075 and 6725.
	7.3.1.5.		"A" 4971						S/Com. "A" 5000 and 6725.
	7.3.2.		"A" 3235
	7.3.2.1.		"A" 2514	sole			1.3.9.2.7.		S/Com. "A" 6725.
	7.3.2.2.		"A" 2514	sole			1.3.9.2.5.
	7.3.2.3.		"A" 6725
7.	7.3.3.		"A" 3235

REGULATION OF THE BANK CURRENT ACCOUNT

CONSOLIDATED TEXT				SOURCE RULE					OBSERVATIONS
Sec.	Item	Para.	Com.	Annex	Chap.	Sec.	Item	Para.
7.	7.3.3.1.	1st	"A" 3235
		i)	"A" 2514	sole			1.3.9.2.7.		S/Com. "A" 3235.
		ii)	"A"2514	único			1.3.9.2.5.
	7.3.3.2.	1°	"A" 3235
		i)	"A" 2514	único			1.3.9.2.6.		S/Com. "A" 3075 and 3235.
		ii)	"A" 2514	único			1.3.9.2.7.		S/Com. "A" 3235.
		iii)	"A" 2514	único			1.3.9.2.8.		S/Com. "A" 3235 and 3244.
		iv)	"A" 2514	único			1.3.9.2.5.
			"A" 3244				8.
	8.1.		“A” 2514	único			1.4.2.		S/Com. “A” 3075, 3244, 4063 (pto.1.), 4971 (pto. 6.) y 5000.
	8.2.1.		“A” 2514	único			1.4.2.1.	1°	S/Com. “A” 3075, 3235, 3244 y 4063 (pto. 1.).
	8.2.2.		“A” 2514	único			1.4.2.3.	1°	S/Com. “A” 3244 and 4063 (item 1.).
	8.2.3.		“A” 4971				6.		S/Com. “A” 5000.
	8.3.		“A” 3075						S/Com. “A” 3244 and 4063 (item 1.).
	8.3.1.		“A” 3075				8.3.1.1.	i)	S/Com. “A” 3207, 3244 and 6725.
	8.3.2.		“A” 3075				8.3.1.1.	ii)	S/Com. “A” 3207, 3244 and 6725.
	8.3.3.		“A” 3075				10.1.1.1.	ii)	S/Com. “A” 4971 (item 6) and 6725.
	8.3.4.		“A” 3075				10.1.1.1.	iii)
	8.3.5.		“A” 6725
	8.4.		“A” 4063				1.
8.	8.5.		“A” 3244				8.4.
	8.5.1.		“A” 2514	sole			1.4.2.1.	2nd	S/Com. “A” 3075, 3244 and 3831.
	8.5.2.		“A” 2514	sole			1.4.2.1.	3rd	S/Com. “A” 3244.
	8.5.3.		“A” 3075						S/Com. “A” 3244.
	8.5.4.		“A” 3075						S/Com. “A” 3244.
	8.6.1.		“A” 2514	sole			1.6.3.	last	S/Com. “A” 2576 (item 1.6, 4th paragraph) and 4063 (item 1).
	8.6.2.		“A” 2514	sole			1.5.3.2.		S/Com. “A” 3244 and 4063 (item 1).
	8.6.3.		“A” 3075
	8.6.	last	“A” 3075						S/Com. “A” 4063 (item 1).
	8.7.		“A” 3244				8.6.		S/Com. “A” 4063 (item 1.), 4971 (item 6.) and 5000.
	8.8.		“A” 3244				8.7.
	8.8.1.		“A” 4063				1.
	8.8.1.1.		“A” 4063				1.		S/Com. “A” 4971 (item 6.).
	8.8.1.2.		“A” 3075				10.3.		S/Com. “A” 3244.
	8.8.2.		“A” 3137						S/Com. “A” 3244 and 4063 (item 1.).

REGULATION OF THE BANK CURRENT ACCOUNT

UPDATED TEXT					SOURCE RULE			OBSERVATIONS
Sec.	Item	Para.	Com.	Annex Chap.	Sec.	Item	Para.
8.	8.9.		“A” 2514	sole		1.7.
9.	9.1.		“A” 4063			1.		S/Com. “A” 4971.
	9.2.		“A” 2514	sole		1.5.		S/Com. “A” 3244.
		1°	“A” 2514	sole		1.5.2.		S/Com. “A” 3244 and 4063 (item 1.).
	9.2.1.		“A” 3075					S/Com. “A” 6042 and 6448.
	9.2.1.1.		“A” 2514	sole		1.5.2.	1º	S/Com. “A” 3075 and 3169.
	9.2.1.2.		“A” 2514	único		1.5.2.	2º	S/Com. “A” 3075, 3169 and 3244.
	9.2.1.3.		“A” 2514	único		1.5.2.	3º
	9.2.1.4.		“A” 3075					S/Com. “A” 3169 and 3244.
	9.2.2.		“A” 2514	único		1.5.2.	1°	S/Com. “A” 3075, 3169 and 3244.
	9.2.2.1.		“A” 2514	único		1.5.2.	1°	S/Com. “A” 3075, 3169, 3244 and 4063 (pto. 1.).
	9.2.2.2.		“A” 3075	único		9.2. and 9.1.1.	1°	S/Com. “A” 3169, 3244 and 4063 (pto. 1.).
	9.3.		“A” 2514	único		1.5.
	9.3.1.	1°	“A” 2514	único		1.5.3.3.	1°and 2°	S/Com. “A” 3244.
		2°	“A” 2514	único		1.5.2.	2°and 5°	S/Com. “A” 3244.
	9.3.2.		“A” 2514	único		1.5.3.3.	3°	S/Com. “A” 3075 and 3244.
	9.4.		“A” 2514	único		1.7.
10.	10.1.	1°	"A" 2514	único		1.6.3.	3°	S/Com. "A" 3075 and 6725.
		2°	"A" 2514	único		1.6.3.	4°	S/Com. "A" 3075, 3244 and 4063 (item 1.).
	10.2.		"A" 3075
	10.2.1. to 10.2.4.		"A" 2514	único		1.9.4.		Texts replacing model notice formulas. S/Com. "A" 3075, 3235, 3244, 3831, 4063 (item 1.) and 6725.
11.	11.1.		"A" 4063			4.
	11.2.		"A" 4063			4.
	11.3.		"A" 4063			4.		S/Com. "A" 6638.
			"A" 3075
	12.1.		"A" 2530
	12.1.1.	1°	"A" 2530				1°	S/Com. "A" 3075.
		2°	"A" 2530				3° and 4°
	12.1.2.		"A" 2530				2°
12.	12.2.		"A" 1199	I		5.1.
	12.2.1.		"A" 1199	I		5.1.1.
	12.2.2.		"A" 1199	I		5.1.2.
	12.2.3.		"A" 1199	I		5.1.3.
	12.3.		"A" 2514	único		1.13.2.		S/Com. "A" 3075.
	12.4.		"B" 6572					S/Com. "A" 5388.
	12.5.		"A" 3235
	12.6.	1°	"A" 5212

REGULATION OF THE BANK CURRENT ACCOUNT

CONSOLIDATED TEXT	SOURCE RULE	OBSERVATIONS
Sec. Point Para.	Comm.	Annex Chap. Sec.	Point	Para.
12.	12.6.1.		"A" 5127				3.		S/Com. "B" 9961 and "A" 5164, 5212, 5473, 5718 and 5927.
	12.6.2.		"A" 5212						S/Com. "A" 5718.
	12.7.		"A" 5588
	12.7.1.		"A" 5588
	12.7.2.		"A" 5588
	12.8.		"A" 5928				10.		S/Com. "A" 6236, 6483, 6639 and 6709.
	12.9.		"B" 11269
	12.10.		"A" 6273

COMMUNICATION BY ELECTRONIC MEANS FOR
ENVIRONMENTAL CARE
Section 2. Exceptions to the sending of information by electronic means.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Electronic information means should not be used (except as supplementary information) to replace others that, by legal or regulatory mandate, must be used for the reliable notification of developments, such as requests for further information and/or documentation arising from the application of the rules on "Prevention of money laundering, financing of terrorism and other illicit activities".

B.C.R.A.

Version: 3rd. COMMUNICATION "A" 6725
Effective:
1/7/2019
Page 1

B.C.R.A.
ORIGIN OF THE PROVISIONS CONTAINED IN THE RULES ON "COMMUNICATION BY ELECTRONIC MEANS FOR ENVIRONMENTAL CARE"

CENTRAL BANK OF THE ARGENTINE REPUBLIC

ORDERED TEXT			SOURCE RULE					OBSERVATIONS
Sec.	Point	Para.	Com.	Annex	Chap.	Sec.	Point	Para.
	1.1.		"A" 5886
	1.1.1.		"A" 5886
	1.1.2.		"A" 5886
	1.1.3.		"A" 5886
	1.1.4.		"A" 5886
	1.2.		"A" 5886
	1.2.1.		"A" 5886
	1.2.2.		"A" 5886
	1.2.3.		"A" 5886						S/Com. "A" 6664.
	1.2.4.		"A" 5886						S/Com. "A" 6279 and 6348.
	1.2.5.		"A" 5886
	1.3.		"A" 5886
	1.4.		"A" 5886
	1.4.1.		"A" 5886
	1.4.2.		"A" 5886
	1.4.3.		"A" 5886
	1.4.4.		"A" 5886
1.
	1.4.5.		"A" 5886
2.			"A" 5886						S/Com. "A" 6725.
	3.1.		"A" 6042				10.
	3.2.		"A" 6042				11.		S/Com. “A” 6188 and 6448.
3.
	3.3.		“A” 6448				6.		S/Com. “A” 6664.
	4.1		“A” 6419				1.		S/Com. “A” 6462.
	4.2.		“A” 6419				1.
	4.3.		“A” 6419				1.
	4.4.		“A” 6419				1.		S/Com. “A” 6462 and 6541.
	4.5.		“A” 6419				1.		S/Com. “A” 6547.
4.
	4.6.		“A” 6419				1.		S/Com. “A” 6462.
	5.1.		“A” 6419				2.
5.
	5.2.		“A” 6419				2.
	5.3.		“A” 6419				2.