Resolution SBS No. 034-2019: Procedure Applicable to Savings and Credit Cooperatives Not Authorized to Capture Public Resources with Dissolution and Liquidation Requests Pending Before the Judiciary as of January 1, 2019

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 Fax: (511) 6309239 1 Lima, January 4, 2019 Resolution S.B.S.
No. 034 -2019

The Superintendent of Banking, Insurance and Private Pension Fund Administrators

CONSIDERING:

That, the Sixth Supplementary Transitional Provision of Law No. 30822, Law that modifies Law No. 26702, General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance, and other concordant norms, regarding the regulation and supervision of savings and credit cooperatives not authorized to capture public resources, hereinafter Coopac, establishes that requests for dissolution and liquidation of Coopac that are pending before the Judiciary upon the entry into force of Law No. 30822, regarding which no sentence has been issued, shall be adapted to what is provided in numeral 5 referred to the regime of dissolution and liquidation of the final and supplementary twenty-fourth provision of the General Law of the Financial System and of the Insurance System and Organic Law of the Superintendence of Banking and Insurance – Law No. 26702 and its modifying norms, hereinafter General Law, insofar as applicable;

That, through Resolution SBS No. 5076-2018, the Regulation of Special Regimes and of the Liquidation of Savings and Credit Cooperatives Not Authorized to Capture Public Resources was approved, which collects and regulates what is established in Law No. 30822 in accordance with the provisions for special regimes and liquidation contemplated in the current normative framework, necessary for the execution of the functions regarding surveillance, intervention, as well as dissolution and liquidation of Coopac that Law No. 30822 attributes to the Superintendence of Banking, Insurance and Private Pension Fund Administrators;

That, in Resolution SBS No. 5076-2018, it was ordered that the procedure that the Superintendence will apply to comply with what is stated in the Sixth Supplementary Transitional Provision of Law No. 30822 will be established in a subsequent norm of a general nature;

That, it is necessary to establish the procedure that the Superintendence will apply to comply with what is stated in the Sixth Supplementary Transitional Provision of Law No. 30822;

Having the previous technical and positive report on the viability of the norm from the Assistant Superintendent of Cooperatives and with the approval of the Assistant Superintendences of Cooperatives and of Legal Advice, and;

Los Laureles Nº 214 - Lima 27 - Perú Telf. : (511)6309000 Fax: (511) 6309239 2 In exercise of the powers established in numerals 7 and 9 of article 349, as well as in numerals 4-A and 5-A of the Twenty-Fourth Final and Supplementary Provision of the General Law;

RESOLVES:

Article First.- Approve the “Procedure applicable to savings and credit cooperatives not authorized to capture public resources that as of January 1, 2019 are with a request, presented by the Superintendence, of dissolution and liquidation pending before the Judiciary without a sentence having been issued”, in the following terms:

“PROCEDURE APPLICABLE TO SAVINGS AND CREDIT COOPERATIVES NOT AUTHORIZED TO CAPTURE PUBLIC RESOURCES THAT AS OF JANUARY 1, 2019 ARE WITH A REQUEST, PRESENTED BY THE SUPERINTENDENCE, OF DISSOLUTION AND LIQUIDATION PENDING BEFORE THE JUDICIARY WITHOUT A SENTENCE HAVING BEEN ISSUED

Article 1.- From January 1, 2019, the Superintendence of Banking, Insurance and Private Pension Fund Administrators, by virtue of what is provided by the Thirteenth Final Supplementary Provision and the Sixth Supplementary Transitional Provision of Law No. 30822; and by the Twenty-Fourth Final and Supplementary Provision of Law No. 26702 (modified by Law No. 30822), assumes competence to process all dissolution procedures of savings and credit cooperatives not authorized to capture public resources (hereinafter Coopac) that are with a request, presented by it, pending before the Judiciary, in which no sentence has been issued.

For this purpose, the Superintendent of Banking, Insurance and Private Pension Fund Administrators issues an Office addressed to each of the judges in charge of the aforementioned procedures, requesting them to deliver the judicial files or a certified copy thereof, to adapt said procedures to what is provided in Law No. 30822.

Article 2.- In the event that the Judge does not comply with the request referred to in the previous article, the Superintendence of Banking, Insurance and Private Pension Fund Administrators issues a reiterative Office to the Judge requiring the delivery of the judicial files or a certified copy thereof within fifteen (15) business days. In the event that the Judge persists in non-compliance, the Superintendence of Banking, Insurance and Private Pension Fund Administrators may bring this fact to the knowledge of the Public Ministry and the Office of Control of the Magistracy.

Article 3.- The Superintendence of Banking, Insurance and Private Pension Fund Administrators, once the judicial files or a certified copy thereof are received, notifies the Coopac so that within a period of thirty (30) business days, it accredits with the corresponding proof that it has lifted the cause or causes that determined the request for dissolution and liquidation presented before the Judiciary. This period may be extended, only once, for an identical period when there is justified cause.

Article 4.- In the event that the Superintendence of Banking, Insurance and Private Pension Fund Administrators verifies that the Coopac has not accredited the lifting of the cause or causes that determined the request for dissolution and liquidation presented before the Judiciary, in accordance with what is provided in the Sixth Supplementary Transitional Provision of Law No. 30822 and in numeral 5-A of the Twenty-Fourth Final and Supplementary Provision of Law No. 26702 (modified by Law No. 30822), prior to a technical report on the procedency of the dissolution from the Assistant Superintendent of Cooperatives, it issues the corresponding resolution of dissolution and appoints a temporary administrator who assumes the representation of the Coopac.

Article 5.- In accordance with what is provided in the Sixth Supplementary Transitional Provision of Law No. 30822 and in numeral 5-A of the Twenty-Fourth Final and Supplementary Provision of Law No. 26702 (modified by Law No. 30822), in the event that the temporary administrator verifies that there are assets of the Coopac to be liquidated, the liquidation is judicial. For this purpose, the temporary administrator requests the Commercial Judge or, in default, the one corresponding, to the legal domicile of the Coopac, to designate a liquidator and order the start of the judicial liquidation of this.

Article 6.- In accordance with what is provided in the Sixth Supplementary Transitional Provision of Law No. 30822 and in numeral 5-A of the Twenty-Fourth Final and Supplementary Provision of Law No. 26702 (modified by Law No. 30822), upon receiving the request, referred to in the previous article, from the temporary administrator, the Judge verifies that the Coopac has assets to be liquidated and, in the event of accrediting the existence of said assets, designates a liquidator, receives the periodic reports, the final report of the liquidator and, with the knowledge of the Superintendence of Banking, Insurance and Private Pension Fund Administrators, declares the conclusion of the liquidation process.

Article 7.- In accordance with what is provided in the Sixth Supplementary Transitional Provision of Law No. 30822 and in numeral 5-A of the Twenty-Fourth Final and Supplementary Provision of Law No. 26702 (modified by Law No. 30822), in the event that the temporary administrator verifies that there are no assets to be liquidated, the said administrator issues a report to the Assistant Superintendent of Cooperatives, being the Superintendence of Banking, Insurance and Private Pension Fund Administrators the one that requests the Commercial Judge or, in default, the one corresponding, to the legal domicile of the Coopac, to declare the bankruptcy of this and to require the registration of its extinction in the Public Registries.

Article 8.- In the event that the Superintendence of Banking, Insurance and Private Pension Fund Administrators has verified the lifting of the cause or causes that determined the request for dissolution and liquidation presented before the Judiciary, the Coopac has a period of thirty (30) business days, from the communication made to it by the Superintendence of Banking, Insurance and Private Pension Fund Administrators, to register in the National Registry of Coopac and of the Central.”

Article Second.- This norm enters into force the day after its publication in the Official Newspaper “El Peruano”.

Register, communicate and publish

SOCORRO HEYSEN ZEGARRA
Superintendent of Banking, Insurance and Private Pension Fund Administrators