Technical Standards for the Modification of Social Pacts of Banks, Investment Banks, and Savings and Credit Societies

NRP-35
BANKS, INVESTMENT BANKS, AND SAVINGS AND CREDIT SOCIETIES Approval: 10/06/2022 Validity: 29/06/2022

THE COMMITTEE OF STANDARDS OF THE CENTRAL BANK OF RESERVE OF EL SALVADOR,

CONSIDERING:
I. That Article 21, first paragraph, of the Banks Law and Article 13, first paragraph, of the Investment Banks Law, establish that banks and investment banks established require authorization from the Superintendence to merge with other entities and transfer all or the majority of their assets. (1)
II. That Article 229 of the Banks Law establishes the procedure that a bank must carry out in cases where it wishes to modify its social pact due to verifying an increase or decrease in its social capital, merger, or others.
III. That Article 62 of the Investment Banks Law establishes the procedure that an Investment Bank must carry out in cases where it wishes to modify its social pact due to verifying an increase or decrease in its social capital, merger, or other reforms. (1)
IV. That Article 161 of the Law of Cooperative Banks and Savings and Credit Societies establishes that the provisions of the Banks Law contained in the seventh title, regarding general provisions, including those related to the modification of social pacts, shall apply to savings and credit societies. (1)
V. That Article 4, letter d), of the Law of Supervision and Regulation of the Financial System establishes that the Superintendence shall have the authority to authorize the public promotion, constitution, operation, and start of operations, modification of social pacts and statutes, if applicable, and merger of the members of the financial system in accordance with what is provided in the special laws on the matter. (1)
VI. That Article 99 of the Law of Supervision and Regulation of the Financial System establishes that the Central Bank of Reserve, by virtue of said Law, is the institution responsible for the approval of the technical regulatory framework that must be issued in accordance with this Law and other laws regulating the supervised entities. In fulfilling this responsibility, the Central Bank of Reserve must ensure that the regulatory framework applicable to the financial system is periodically reviewed, seeking its timely update. (1)
VII. That it is necessary to have technical standards that establish the conditions and requirements that financial institutions must observe to request authorization for the modification of social pacts before the Superintendence of the Financial System. (1)

THEREFORE, by virtue of the regulatory powers conferred upon it by Article 99 of the Law of Supervision and Regulation of the Financial System,

AGREES to issue the following:

TECHNICAL STANDARDS FOR THE MODIFICATION OF SOCIAL PACTS OF BANKS, INVESTMENT BANKS, AND SAVINGS AND CREDIT SOCIETIES (1)

CHAPTER I
OBJECT, SUBJECTS, AND TERMS

Object
Art. 1.- These Standards aim to establish the information requirements and procedures to be followed by obligated subjects when requesting authorization to modify their social pact, as well as the authorization for the merger of entities and their corresponding modification to the social pact.

Subjects
Art. 2.- The subjects obligated to comply with the provisions established in these Standards are the following:
a) Banks constituted in El Salvador; (1) b) Savings and credit societies; and (1) c) Investment banks. (1)

Terms
Art. 3.- For the purposes of these Standards, the terms indicated below have the following meaning:
a) Shareholder: Owners of the shares of the obligated subjects to the application of these Standards; b) Central Bank: Central Bank of Reserve of El Salvador; c) Entity or Entities: Subjects obligated to comply with these Standards; d) Social Pact: Constitutive and organizational instrument of the entity; and e) Superintendence: Superintendence of the Financial System.

NRP-35
BANKS, INVESTMENT BANKS, AND SAVINGS AND CREDIT SOCIETIES Approval: 10/06/2022 Validity: 29/06/2022

CHAPTER II
CASES OF MODIFICATION AND INFORMATION REQUIREMENTS

By increase of social capital
Art. 4.- When an entity agrees to increase its social capital, it must request authorization from the Superintendence to modify the social pact. Previously, it must have carried out the call for the Extraordinary General Meeting of Shareholders.
The request must be signed by the person designated to execute the corresponding agreement or by the legal representative, attaching the following documentation:
a) Certification of the point in the minutes of the Extraordinary General Meeting of Shareholders, issued by its secretary, where the agreement on:
i. The amount of the increase in social capital and its form of payment;
ii. The modifications of the clauses of the entity's social pact; and
iii. The designation of the special executors of the agreement.
b) Certification issued by the external auditor, which must contain:
i. The amount of social capital to be increased, the number of shares it represents, the nominal value of the same, and the class of shares to be issued;
ii. The list of shareholders subscribing to the capital increase, detailing the paid and unpaid amounts; regarding the paid amount, it must indicate the account in which it is registered;
iii. The result of its investigation regarding the prohibitions for banks and savings and credit societies to carry out credit operations with collateral of their own shares or with collateral of shares of other banks, other savings and credit societies, or other entities belonging to the same financial conglomerate, and to grant loans to subscribe to shares of the same bank or savings and credit society or shares of entities belonging to the same financial conglomerate, as established in letters a) and b) of Article 209 of the Banks Law, when it concerns capital increase paid with money. (1)
iv. The result of its investigation regarding proving that there are no subscribed shares pending payment, as required by Article 174 of the Commercial Code;
v. If the increase must be made with accumulated profits, it must inform that these are reflected in the accounting, that they have been effectively received, the period to which they correspond, and the accounting account where they are registered. In no case can profits registered as not received be capitalized.

c) Copy or evidence of the publications of the call for the respective Extraordinary General Meeting of Shareholders; which must have been published in the Official Journal in accordance with what is provided in the Commercial Code and twice in two national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework. The publications must be made fifteen days in advance of the date of holding the referred Meeting, by the previously described means and alternately, as applicable; d) Draft of the deed modifying the clauses of the social pact; e) Sworn declaration of the legal representative when it concerns capital increases paid in money, in a notarial instrument according to Annex No. 1 of these Standards, where it affirms that the entity has not granted loans to acquire shares of its own capital and reports the last loan granted to each shareholder. This provision is not applicable to Investment Banks; (1) f) Copy or evidence of the publications of the agreement on the increase in social capital, which must have been published in two national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with what is established in the current legal framework once, within a period not exceeding five business days following the date the respective agreement was granted; g) Request for authorization and documentation to acquire shares in excess of one percent (1%) or ten percent (10%) of the entity's capital, in the same way as if it were a transfer of shares, when applicable, as established in the “Technical Standards for the Authorization of Transfer of Shares of Banks, Investment Banks, Sole Purpose Holding Companies, and Savings and Credit Societies” (NRP-55). The determination of the mentioned percentage will be made considering the capital increase; (1) h) Comparative table of the share composition before and after the increase in social capital, detailing the shareholder's name, paid social capital, number of shares, and percentage of participation; and i) Sworn declaration regarding the origin of funds for the payment of shares, attaching the documents that evidence the source of the funds, according to Annex No. 2 of these Standards.

By use of treasury shares
Art. 5.- When the modification request is due to an increase in social capital by the use of Treasury Shares, the bank or savings and credit society must request authorization from the Superintendence to modify its social pact, which must be signed by the legal representative, attaching the following documentation: (1)

a) Certification issued by the external auditor, stating the quantity, nominal value, and amount of the shares that have been subscribed and paid; b) Report from the external auditor, which must contain:
i. The list of shareholders subscribing to the capital increase;
ii. The result of its investigation regarding the prohibitions for banks and savings and credit societies to carry out credit operations with collateral of their own shares or with collateral of shares of other banks, other savings and credit societies, or other entities belonging to the same financial conglomerate, and to grant loans to subscribe to shares of the same bank or savings and credit society or shares of other entities belonging to the same financial conglomerate, as established in letters a) and b) of Article 209 of the Banks Law, when it concerns capital increase paid with money; (1)
iii. The result of its investigation regarding proving that there are no subscribed shares pending payment, as required by Article 174 of the Commercial Code.
c) Draft of the deed modifying the clauses of the social pact; d) Sworn declaration of the legal representative when it concerns capital increases paid in money, in a notarial instrument, according to Annex No. 1 of these Standards, where it affirms that the entity has not granted loans to acquire shares of its own capital and reports the last loan granted to the shareholders; e) Request for authorization and documentation to acquire shares in excess of one percent (1%) or ten percent (10%) of the entity's capital, in the same way as if it were a transfer of shares, when applicable, as established in the “Technical Standards for the Transfer of Shares of Banks, Investment Banks, Sole Purpose Holding Companies, and Savings and Credit Societies” (NRP-55). The determination of the mentioned percentage will be made considering the capital increase. (1)

In no case can the shares subscribed by a bank or savings and credit society represent more than forty percent of its Primary Capital. (1) The public deed modifying the social pact must be formalized within sixty days, counted from the last placement date or within the period indicated by the Superintendence, as established in Article 24 of the “Technical Standards on Issuance, Deposit, Placement, and Subscription of Treasury Shares” (NRP-09), approved by the Central Bank through its Standards Committee.

By reduction of social capital
Art. 6.- When the entity intends to modify its social pact by reduction of social capital, the board of directors must request authorization from the Superintendence so that the General Meeting of Shareholders agrees to such reduction.

Art. 7.- Subsequent to what is described in Article 6 of these Standards, the entity must present to the Superintendence the request for authorization to modify the social pact by reduction of social capital, which must be signed by the person designated to execute the capital reduction or by the legal representative, attaching the following documentation:
a) Certification of the point in the minutes of the Extraordinary General Meeting of Shareholders, issued by its secretary, where the corresponding agreement is found, which must contain the following:
i. The list of the authorization for the capital reduction, issued by the Superintendence;
ii. The amount of the reduction in social capital, indicating whether it is a reduction of the nominal value of the shares or an amortization of the same. In the case of reduction of the nominal value of shares by absorption of losses, it will not be necessary for its value to be one United States dollar or whole multiples thereof, as provided in Article 129 of the Commercial Code. The reduction of the minimum capital established in Article 36 of the Banks Law, Article 157 of the Law of Cooperative Banks and Savings and Credit Societies, and Article 23 of the Investment Banks Law, can only be carried out in the case of reduction by absorption of losses. All of the above, without prejudice to what is provided in the Commercial Code, the Banks Law, and the Investment Banks Law regarding the regularization of social capital; (1)
iii. The modifications of the relevant clauses of the entity's social pact.
b) Draft of the deed modifying the clauses of the social pact; c) Copy or evidence of the publications of the call for the respective Extraordinary General Meeting of Shareholders; which must have been published in the Official Journal in accordance with what is provided in the Commercial Code and three times in a national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework. The publications must be made fifteen days in advance of the date of holding the referred Meeting, by the previously described means and alternately, as applicable; d) Copy or evidence of the publications of the agreement on the reduction of social capital, which must have been published alternately and three times in accordance with what is provided in the Commercial Code, in the Official Journal and in a national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with what is established in the current legal framework, within a period not exceeding five business days following the date the respective agreement was granted.

For the case of capital reduction to absorb losses, in accordance with what is established in Article 229, letter b), of the Banks Law and Article 62, letter b), of the Investment Banks Law, the provisions contained in Articles 30, 181, and 182 of the Commercial Code will not apply. (1)

By merger
Art. 8.- When two or more entities intend to merge, each of them must take the agreement in an Extraordinary General Meeting of Shareholders, specially called for this purpose.

Art. 9.- The person designated to execute the merger or the legal representative of the absorbing entity must submit a request to the Superintendence to be authorized for the merger.
The request must contain the type of merger to be carried out, the reasons and justification for the decision of the merger, and the entities involved. The following documentation must be attached to this request:
a) Certifications of the point in the minutes of the Extraordinary General Meetings of Shareholders, issued by the secretaries of the entities to be merged, where the corresponding agreement is found; b) Copy or evidence of the publications of the call for the respective Extraordinary General Meetings of Shareholders; which must have been published in the Official Journal in accordance with what is provided in the Commercial Code and three times in a national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework. The publications must be made fifteen days in advance of the date of holding the referred Meeting, by the previously described means and alternately, as applicable; c) Merger plan containing a projected schedule of activities to be developed to execute the merger. Additionally, this must also contain the merger process plan at the technological level and validation of its functioning, detailing at minimum the following:
i. Description of the new information technology area, including at minimum: organizational chart of the area, strategic plan, merger project schedule, security tools, physical location of the data center, and alternate site;
ii. Description of all implemented computer services, including for third-party providers, the provider's information;
iii. Inventory of applications that will remain in production, including description and characteristics;
iv. Data migration plan;
v. Communication diagrams (in which it can be visualized how the entities' network infrastructure is constituted), including links or connections to external entities, as well as whether the equipment are physical and/or virtual servers;
vi. Risk analysis and information security management system, implemented or to be implemented, including at minimum the Information Security Policy; and
vii. Documentation of Information Technology (IT) tests that will be carried out in the merger process.
d) Risk management manuals and policies: credit, operational, market, liquidity, and money laundering, terrorist financing, and proliferation of weapons of mass destruction; e) Projected Financial Statements of the absorbing society consolidated with the absorbed societies; f) Projected equity fund of the absorbing society consolidated with the absorbed societies; g) Documentation establishing the non-objection of the parent company to carry out the merger, where applicable; h) Updates made by the merger process, referring to the following:
i. Business Impact Analysis (BIA);
ii. Business Continuity Plan (BCP); and
iii. Disaster Recovery Plan (DRP).
i) Action plan with defined dates and responsibilities regarding the compliance and management of risks of: credit, operational, market, liquidity, money laundering, terrorist financing, and proliferation of weapons of mass destruction, to be implemented by the absorbing entity; j) Detail of the number of agencies and/or establishments, ATMs, and number of employees of the entities before and after the merger; and k) Detail of the image change process and substitution of stationery, if applicable.

Art. 10.- Once authorization from the Superintendence to carry out the merger is obtained, the agreement will be registered in the Commercial Registry. The registration of the merger agreement and the last balance sheet of the entities must be published once in two national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework.

Art. 11.- After the merger agreement is registered, the absorbing entity will submit a request to the Superintendence to modify the social pact, which must be signed by the person designated to execute the merger or by the legal representative, attaching the following documentation:

a) The modifications of the relevant clauses of the entity's social pact; b) Draft of the merger modification deed of the societies; c) Copy or evidence of the publications of the merger agreement, which must have been published once in two national circulation printed media or another digital publication platform with greater or equal coverage, or on its website, in accordance with what is established in the current legal framework, within a period not exceeding ten business days following the date the respective agreement was granted; d) Table containing the share composition of the entity after the merger, detailing the percentage of share participation of each of the merged entities, number of shares, and amount of social capital, as well as the detail of the nominal value of each share and the value at which it was negotiated; e) Organizational structure of the new financial group once the merger is carried out, where applicable; f) Certifications issued by the External Auditors of the involved societies regarding that the social capital is fully subscribed and paid; and g) Documentation of Information Technology (IT) tests that will be carried out in the merger process, as well as the minutes or user certification and the review reports by internal audit.

Art. 12.-When the merger process results in a distinct entity, the creation of the new entity will be subject to the provisions on the constitution of a new bank or savings and credit society.

Modification for Other Causes
Art. 13.- For the authorization of modification of social agreement for any other cause, the entity will submit a request to the Superintendency.
The request must be signed by the person designated to execute the agreement or by the legal representative, attaching the following documentation:
a) Certification of the point in the minutes of the Extraordinary General Meeting of Shareholders, issued by the entity's secretary, where the agreement on:
i. The approval of the modification of the social agreement; and
ii. The modifications of the relevant clauses of the entity's social agreement is found.
b) Copy or evidence of the publications of the call for the respective Extraordinary General Meetings of Shareholders; which must have been published in the Official Diary in accordance with what is provided in the Code of Commerce and three times in a printed medium of national circulation or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework. The publications must be made fifteen days in advance of the date of the aforementioned Meeting, through the previously described means and alternately, as appropriate; and

NRP-35
BANKS, INVESTMENT BANKS AND SAVINGS AND CREDIT SOCIETIES Approval: 10/06/2022 Validity: 29/06/2022 c) Draft of the deed of modification that includes the reforms to the entity's social agreement.
Art. 14.- The requests and documentation referred to in articles 4, 5, 6, 7, 9, 11 and 13 of these Standards, depending on the case of modification, may be submitted through the means made available by the Superintendency, which may be electronic. In any case, the deadline referred to in the first paragraph of article 16 of these Standards will begin to run from the next business day after the respective request has been submitted. For compliance with the documentation requested in the articles indicated in the previous paragraph, which is already in the possession of the Superintendency duly updated and whose effects have not been extinguished for legal causes, it will not be necessary to present it again, the entity must refer to this situation in the presentation of the request. Art. 15.- In cases where the shareholders or representatives of all the shares in which the social capital of the entity is divided, are already assembled and agree to install the meeting in order to agree on the modification of the social agreement, the call to the Extraordinary General Meeting of Shareholders will not be required and the copy or evidence of the publications of the respective call referred to in this Chapter will not be presented. The foregoing, as provided in article 233 of the Code of Commerce.
CHAPTER III
PROCESSING OF THE REQUEST
Procedure for authorization of modifications of social agreement Art. 16.- Upon receipt of the corresponding documentation, in accordance with what is established in articles 4 to 13 of these Standards, the Superintendency will proceed to verify compliance with the requirements defined by the Banking Law, Cooperative Banks and Savings and Credit Societies Law, Investment Banks Law and these Standards, as appropriate, having a period of up to twenty business days for the authorization or denial of the corresponding modifications. (1) If the request is not accompanied by the complete and proper information detailed in articles 4 to 13 of these Standards, the Superintendency, due to the lack of necessary requirements, may require the requesting entity to present the missing documents within a period of ten business days counted from the day following the notification, a period that may be extended at the request of the interested parties when there are reasons justifying it.

NRP-35
BANKS, INVESTMENT BANKS AND SAVINGS AND CREDIT SOCIETIES Approval: 10/06/2022 Validity: 29/06/2022 The Superintendency in the same warning will indicate to the requesting entity that if it does not complete the information within the aforementioned period, it will proceed without further procedure to archive the request, leaving it free to submit a new request. If after the analysis of the documentation presented in accordance with articles 4 to 13 of these Standards, the Superintendency has observations or when the documentation or information presented is not sufficient to establish the facts or information intended to be accredited, the Superintendency may warn the respective requesting entity to remedy the deficiencies communicated to it or present additional documentation or information requested. The requesting entity will have a maximum period of ten business days counted from the day following the notification, to resolve the observations or present the additional information required by the Superintendency. The Superintendency may, through a reasoned resolution, extend by up to another ten business days, the period indicated in the previous paragraph, when the nature of the observations or deficiencies warned requires it.

Extension Period
Art. 17.- The requesting entity may submit to the Superintendency a request for extension of the period indicated in the fifth paragraph of article 16 of these Standards, stating the grounds on which it is based and proposing, if applicable, the pertinent proof.
The extension period may not exceed ten business days and will begin from the next business day following the expiration date of the original period.

Suspension of the Period
Art. 18.- The period of twenty business days indicated in the first paragraph of article 16 of these Standards, will be suspended for the days that elapse between the notification of the request for information or documentation referred to in the second and fifth paragraphs of said article, until the observations required by the Superintendency are remedied.

Resolution of Request
Art. 19.- Once the complete and proper documents are presented, the Superintendency will issue the resolution in which it authorizes or denies the request to carry out the corresponding modifications, which will be notified to the interested entity within a maximum period of three business days from the date the resolution is issued.

NRP-35
BANKS, INVESTMENT BANKS AND SAVINGS AND CREDIT SOCIETIES Approval: 10/06/2022 Validity: 29/06/2022 Art. 20.- If the aforementioned resolution is favorable, the applicant will proceed to grant the public deed of modification of the social agreement, which must be submitted to the Superintendency so that it adds a reason stating the favorable qualification, so that it can be registered in the Commercial Registry. Art. 21.- Once the public deed is registered in the Commercial Registry, the applicant must publish a notice of modification, only once and within a period not exceeding five business days following the registration, for which effect, two printed media of national circulation or another digital publication platform with greater or equal coverage, or on its website, will be used, in accordance with what is established in the current legal framework. Art. 22.- The applicant must send to the Superintendency a copy of the duly inscribed public deed and of the publications carried out.
CHAPTER IV
OTHER PROVISIONS AND VALIDITY

Art. 23.- The capitalization of profits registered as undistributed at the end of the accounting period, as well as the surplus from revaluation of assets, will not be authorized, except that it has been carried out by cash sale. Modifications to the social agreement due to increases in social capital will also not be authorized when these come from accumulated profits if the bank presents losses in the current period.

Sanctions
Art. 24.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Law on Supervision and Regulation of the Financial System.

Repeal
Art. 25.- These standards repeal the "Standards for the Modification of Social Agreements of Banks" (NPB4-34), approved in Session CD-52/2001 on November 1, 2001 by the Board of Directors of the Superintendency of the Financial System, whose Organic Law was repealed by Legislative Decree No. 592 containing the Law on Supervision and Regulation of the Financial System, published in the Official Diary No. 23, Volume No. 390, dated February 2, 2011. Transitory Art. 26.- Requests submitted in accordance with what is established in the "Standards for the Modification of Social Agreements of Banks" (NPB4-34), which were in process at the time these Standards enter into force, will continue and conclude in accordance with the regulations under which they began.

Unforeseen Aspects
Art. 27.- Aspects not provided for in regulatory matters in these Standards will be resolved by the Central Bank through its Standards Committee.

Validity
Art. 28.- These Standards will enter into force from the twenty-ninth day of June of two thousand twenty-two.
MODIFICATIONS:
(1) Modifications in the denomination of the Standards, in articles 2, 4, 5, 7 and 16 and Considerations I, III, IV, V and VI and incorporation of Consideration VII, approved by the Central Bank through its Standards Committee, in Session No. CN-09/2025, of November 10, two thousand twenty-five, with validity from November 25, two thousand twenty-five.

Annex No. 1
NRP-35
BANKS AND SAVINGS AND CREDIT SOCIETIES
Approval: 10/06/2022
Validity: 29/06/2022

Model of Sworn Declaration of No Financing of the Entity to Shareholders for the purchase of shares In the city of ______________________, at ___________ hours on the day ______________ of _________ of two thousand _________. Before me, _____________________, notary of this domicile, appears ______________________ of ________ years of age, ____________ (profession), from the domicile of ____________, whom I know, holder of his Personal Identity Document Number ____________________ (or Passport Number _______________________), acting in his capacity as President and Legal Representative of _____________________________, S.A., personhood which I attest is legitimate and sufficient having had in view the following documents:
___________________________________________________________________________ ______________________; and under oath HE SAYS: That to date, the entity he represents has not granted financing to its shareholders for the purchase of shares of my represented entity.
That to the shareholders of my represented entity, whom I describe below, the last loan granted to them is the following:
Loan Number
Name or Business Name of Shareholder
Loan Amount
Destination of the Loan
Date of Granting
The declarant, under oath, also tells me that the aforementioned declaration is true and that he knows the legal responsibility to which he is subject. Thus the declarant expressed himself, whom I explained the legal effects of the present notarial act which consists of __ pages; and having read to him what was written by me, in a single act, without interruption and in its entirety, he ratifies its content and we sign: I DO TESTIFY.

Annex No. 2
NRP-35
BANKS AND SAVINGS AND CREDIT SOCIETIES
Approval: 10/06/2022
Validity: 29/06/2022
Model of Sworn Declaration regarding the Origin of Funds for the Payment of Shares

In the city of San Salvador, at ________ hours on the day ________ of ________ of the year two thousand _________. Before me, __________________________________Notary, of the domicile of ____________________, appears the gentleman __________________________________, who is of ____________ years of age, _______________(profession) of nationality ______________, from the domicile of ________________, whom I know and is holder of his Unique Identity Document Number _________, with Tax Identification Number _______________________________; acting in his capacity as _______________________ (special executor, legal representative, etc.) of the society _________________________________________________, with Tax Identification Number ___________________________________; capacity which I attest is legitimate and sufficient having had in view: a) ____________________; b) ___________________; and c); and in such capacity HE SAYS: I) That the funds that will be used by ________________________________, to carry out the capital increase of the society ________________________________________________, come from funds _______________________________ (a deposit, the sale of an asset, the obtaining of a loan, etc.), which have their legitimate origin and from lawful activities according to Salvadoran legislation. The declarant tells me that the aforementioned declaration is true and that he knows the responsibility he may incur for existing falsehood in it. Thus the declarant expressed himself, whom I explained the legal effects of the present notarial act, which consists of a single sheet, and having read to him what was written by me, in a single act without interruption and in its entirety, he ratifies its content and we sign. I DO TESTIFY.