Resolution 143/2009

BOARD RESOLUTION NO. 143/2009
SUBJECT: FINANCIAL ENTITIES MANAGEMENT - APPROVES MODIFICATION TO THE DIGITAL SIGNATURE REGULATION FOR THE PAYMENTS SYSTEM.

HAVING SEEN:
The Political Constitution of the State promulgated on February 7, 2009.
Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia.
Law No. 1488 of April 14, 1993, on Banks and Financial Entities, whose consolidated text was approved by Supreme Decree No. 26581 of April 3, 2002, and subsequent modifications. The Statute of the Central Bank of Bolivia of October 21, 2005, and subsequent modifications. The Digital Signature Regulation for the Payments System, approved by Board Resolution No. 086/2004 of June 22, 2004, and modified by Board Resolution No. 116/2005 of September 20, 2005. The Report from the Financial Entities Management GEF – SANA No. 698/2009 of December 4, 2009. The Report from the Legal Affairs Management SANO No. 391/2009 of December 4, 2009.

CONSIDERING:
That the Political Constitution of the State in its article 328 provides that the Central Bank of Bolivia is authorized to regulate the payments system. That article 3 of Law No. 1488 determines that within the framework of the Payments System, the Central Bank of Bolivia will establish the regulatory framework for the digital signature to provide security and operability to electronic transfers.

//2. R.D. No. 143/2009

That the Issuer Entity, through Board Resolution No. 086/2004, approved the Digital Signature Regulation for the Payments System, which has been modified by Board Resolution No. 116/2005.

That in order to facilitate the exchange of digital certificates in a context of growing participation in the payments systems, the Financial Entities Management through Report GEF – SANA No. 698/2009 recommends modifying Article 16 of the Digital Signature Regulation for the Payments System and requests submitting the respective proposal for consideration by the Board.

That according to Report SANO No. 391/2009 from the Legal Affairs Management, the proposal to modify Article 16 of the Digital Signature Regulation for the Payments System is legally appropriate, as it does not contravene the current legal framework, and it is within the competence of the Board to approve the presented modification in accordance with what is established in article 54 subsection o) of Law No. 1670 and article 11 numeral 29 of the BCB Statute, without the need for any additional administrative act.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Approve the modification of Article 16 of the Digital Signature Regulation for the Payments System, under the following terms:

SAYS:
Article 16.- (Validity of the Digital Certificate)
The Digital Certificate will be valid until the expiration date indicated therein.
In no case shall the validity be greater than one (1) year.

SHOULD SAY:
“Article 16.- (Validity of the Digital Certificate) The Digital Certificate will be valid until the expiration date indicated therein.
In no case shall the validity be greater than two (2) years.”

Article 2.- The modification of the Digital Signature Regulation for the Payments System will enter into force from its approval.

//3. R.D. No. 143/2009

Article 3.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, December 8, 2009

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Gabriel Loza Tellería

_________________________ _________________________ Hugo Dorado Araníbar Ernesto Yáñez Aguilar _________________________ Rafael Boyán Téllez