The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:ARTICLE 1 Please note that the local financial entities of foreign capital and the branches of foreign financial institutions authorized by the Central Bank of the Argentine Republic shall inform the general public, the assumptions in which their parent houses or majority shareholder share of foreign capital respond by the banking operations carried out in the Argentine Republic and the extent of such guarantee.
In the event that such liability does not arise, the above-mentioned entities must obligatoryly establish that their banking operations do not have any backing of their parent houses or majority shareholders of foreign capital.ARTICLE 2 Companies that fall within the circumstances of the previous article shall comply with the obligation it establishes by means of advertising notices that must be placed in each of its premises, in accessible reading places, and incorporate in its corresponding web pages, and in any advertising they make, by any means of communication or that they deliver in their premises, in order to promote their services. ARTICLE 3 This law shall also apply to all financial entities operating in the Argentine Republic or which have requested authorization to operate on the date of entry into force of the same.
The provisions of articles 1 and 2 shall be fulfilled at all times in the life of the entity; their non-compliance shall be sanctioned by the Central Bank of the Argentine Republic, in accordance with the provisions of the regulation of this law.ARTICLE 4 The Central Bank of the Argentine Republic, through the Superintendence of Financial Institutions and Changes, will be the authority to apply this law, being empowered to dictate the necessary interpretative and application rules. ARTICLE 5° This law shall enter into force on the day after its publication in the Official Gazette. ARTICLE 6 Contact the national executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, 8 MAY 2003.
EDUARDO O. CHANGE. . JOSE L. GIOJA. . Eduardo D. Rollano. . Juan C. Oyarzún.