SGDB No. 035/2015: Requirements for Incorporation of Stock Broker Agencies into the Integrated Payment Settlement System (LIP)

B.C.B. / DGD-VUC

2015 JUN 26 PM 5:03

EXTERNAL CIRCULAR OF THE CENTRAL BANK OF BOLIVIA

La Paz, June 23, 2015 SGDB No. 035/2015

FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: STOCK BROKER AGENCIES PARTICIPATING IN THE SECURITIES DEPOSITORY ENTITY (EDV) SUBJECT: REQUIREMENTS FOR INCORPORATION OF STOCK BROKER AGENCIES INTO THE INTEGRATED PAYMENT SETTLEMENT SYSTEM (LIP)

Ladies and Gentlemen:

The Central Bank of Bolivia communicates that, under Article 13 of the Regulation of the Integrated Payment Settlement System (LIP), approved by Board Resolution No. 061/2014, of June 10, 2014, all Entities with an Operating License granted by the Financial System Supervision Authority (ASFI) must use the LIP System for processing their payment orders.

In this context, once the tasks of verifying compliance with technical requirements are concluded and considering External Circular SGDB No. 021/2015, dated May 20, 2015, we clarify that you must carry out the relevant procedures for your incorporation as participants in the LIP System, according to the deadlines defined in the following schedule:

No.	ACTIVITY	DEADLINE
1	Submission of documentation to the BCB.	From June 29 to July 10
2	Preparation and signing of the "Participation Contract in the Integrated Payment Settlement System (LIP)".	From July 13 to July 24
3	Exchange of Digital Certificates and submission of forms for enabling Network Segment and Security User.	From July 27 to July 31
4	Enablement of operations for Digital Certificates and users with the "Security" profile in the LIP System.	From August 3 to August 7

To this effect, you must present a request note for the subscription of the aforementioned Contract, addressed to Lic. Carlos Colodro Lopez, Acting General Manager of the BCB, attaching the following documentation:

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1. Legalized photocopy of the Deed of Public Deed of Constitution.
2. Legalized photocopy of the Operating License granted by ASFI.
3. Original updated Certificate of Commercial Registration granted by the Commercial Registry (FUNDEMPRESA).
4. Legalized photocopy of the Entity's Bylaws.
5. Legalized photocopy of the Deed of Power of Attorney for legal representation of the person(s) who will sign the Contract.
6. Simple photocopy(ies) of the Identity Card(s) of the Legal Representative(s).
7. Simple photocopy of the Certificate of Registration in the National Taxpayer Registry (NIT).

Likewise, for the signing of the "Participation Contract in the Integrated Payment Settlement System (LIP)", the Deed of Power of Attorney for Legal Representation must expressly and non-limitatively include the following powers:

I. For signatory or signatory:

• The (name of the entity) in its capacity as a participant of the Integrated Payment Settlement System (LIP), grants power to (name of the legal representative), so that in its name and representation and in its capacity as signatory or signatory of the self-signed digital certificates we issue, it generates the digital signature to be used in any electronic document digitally signed in the Payment Settlement System, issued in the name of (name of the entity).

• Obligate, in the name of the entity, to: celebrate, sign, modify, resolve and/or dissolve any type of contract, agreement or legal act with the BCB, in order to comply with what is provided in the Regulation of the LIP Payment System, within the framework of the competencies of the BCB established in Law No. 1670 and the terms that could be established in any contract to be signed with the BCB to implement the Regulation of the Payment Settlement System.

• Authorize the BCB to carry out: the debits of the financial service accounts established by Law, Supreme Decree or Board Resolution, collection of commissions according to the BCB's "Commission Table for Services", debits for overdue obligations and others.

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• Authorize the BCB to carry out fund transfers, including automatic credits and debits from its various accounts at the BCB, in order to implement the aforementioned Regulation, as well as to operationalize the management of the aforementioned accounts.

• Accredit before the BCB, the authorized signatures for the management of its accounts and any act arising from contracts signed with the BCB.

II. For exchange of digital certificate:

• The (name of the entity) in its capacity as a participant of the Integrated Payment Settlement System (LIP), grants power to (name of the legal representative), so that in its name and representation it delivers and receives self-signed digital certificates, as well as signs the respective minutes of exchange of digital certificates of the Integrated Payment Settlement System.

On the other hand, it must be considered that the Deed of Power of Attorney must contain the transcription of the relevant parts of the Bylaws or constitutive documents of the Company, by which the Board of Directors or other administrative bodies of the entity are authorized to confer special powers with powers of disposition of assets. Likewise, the minutes or resolutions that authorize the attorney(s) to carry out this mandate with powers of disposition of assets must be incorporated, within the framework of what is established in this Circular.

Finally, pursuant to Article 165 of the Commercial Code, the Deed of Power of Attorney for Legal Representation for the signing of the aforementioned contract must be registered in the Commercial Registry.

From this date, External Circular SGDB No. 030/2015 of June 12, 2015 is repealed.

Any doubts or inquiries will be attended by the LIP Help Desk at the email address ayudalip@bcb.gob.bo or at the phones 2407262, 2147077, 2661623 and 2661645.

Sincerely.

[Signatures]

CARLOS A. COLODRO LÓPEZ ACTING GENERAL MANAGER CENTRAL BANK OF BOLIVIA

CCL/MMV/GVV/RPR/PCS Ayacucho and Mercado • Tel:(591-2) 2409090 • P.O. Box: 3118 www.bcb.gob.bo • bcb@bcb.gob.bo • La Paz-Bolivia