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SUPERINTENDANCE OF NATIONAL ASSESSMENT Decree 1587/96 Approve the organisational structure of contingency of the aforementioned auto-archic entity.

Bs. As., 19/12/96

I look at the Nros Laws. 20.091 and 24.629, the Nros Decrees. 1066 of 29 June 1992, 558 of 24 May 1996, 660 of 24 June 1996, 852 of 25 July 1996, 928 of 8 August 1996 and 1231 of 30 October 1996 and

CONSIDERING:

That Act No. 20.091 defines NATIONAL ASSESSMENT as an autonomous entity with functional and financial autonomy, within the jurisdiction of the then MINISTERY OF HACIENDA AND FINANCIALS, which exercises control of all the insurers.

That Decree No. 660/96 in its article 46 - Annex III provides that the SUPERINTENDANCE OF NATIONAL FOLLOWERS shall act in the jurisdictional sphere of the MINISTERY OF ECONOMY AND ARTWS AND PUBLIC SERVICES.

That Decree No. 1066/92 approved the organizational structure of the NATIONAL SUPERINTENDANCE and Joint Resolution SSN/SFP/SH No. 136 of 29 June 1994 approved the organizational structure of the Internal Audit Unit of that Agency.

That Act No. 24,629 establishes in Chapter II the rules on improving the functioning and quality of services provided by the various jurisdictions of the National Civil Service, as well as its financing.

That the NATIONAL EXECUTIVE PODER created, through articles 1 and 7 of Decree No. 558/96, the UNITY OF REFORM AND MODERNIZATION OF THE STATE and the LABAL RECONVERSION FUND OF THE NATIONAL PUBLICO SECTOR in the field of the SAFETY OF MINISTERS AND WORKING MINISTERIO SOCIAL, respectively, establishing that the decentralized agencies of the National Civil Service shall give prior intervention to the said unit, in all programmes that include institutional strengthening components, whatever its source of financing.

That Decree No. 928/96 established, for a group of decentralized agencies of the National Civil Service, the obligation to design a strategic plan aimed at guiding their respective functioning, formulating a transformation plan, which should be raised for approval to the MINISTERS GABINETE JEFTURE.

That the current organizational structure of the NATIONAL SUPERINTENDANCE, characterized by an inadequate distribution of functions, over-dimension of the managerial level and inappropriate salary scale for the level of professionalization of the human resources that requires the performance of the functions in its office, requires immediate measures to optimize the results.

That all this determines the need to provide the NATIONAL SUPERINTENDANCE with the necessary powers and the organizational structure that will enable it to efficiently carry out the missions in its charge.

It is therefore appropriate to extend to the NATIONAL ASSESSMENT as set out in Decree No. 928/96.

That the Agency is in full development of a strengthening plan that is set out in the terms of Decree No. 928/96, requiring a minimum time for its adequacy.

That the new organizational structure and distribution of the permanent and temporary staff plants presented by the SUPERINTENDENCIA DE SEGUROS DE LA NATION contemplates the reduction levels that conform to the proposed budget for the year 1997.

That he has taken the intervention of the UNITY OF REFORM AND MODERNIZATION OF THE STATE OF THE GABINETE JEFATURA OF MINISTERS, atoning favourably.

That the present act is in exercise of the emerging powers of article 99, paragraph 1 of the National Constitution.

Therefore,

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1 . Include to the self-employed entity in the jurisdiction of the MINISTERY OF ECONOMY and ARTWS and PUBLIC SERVICES in the terms of Decree No. 928/96. Art. 2o . Within the time limit of TREINTA (30) days from the publication of this decree in the Official Gazette, the SUPERINTENDANCE OF ANSWERS OF the Autonomous entity in the jurisdiction of the MINISTERY OF ECONOMY AND ARTS AND PUBLIC SERVICES - shall refer to the UNITY of REFORMATION AND MODERNIZATION OF THE STATE OF Strategic JEFATURA Art. 3o .: Approved the organizational structure of contingency of the SUPERINTENDENCIA DE SEGUROS DE LA NATION sentidad autárquica en jurisdicción del MINISTERIO DE ECONOMIA Y ARTWORKS AND SERVICES PUBLICOS., according to the organigram, objectives, primary responsibility and actions, and positions .Planta Permanente y Temporaria, que como Anexos III, II Until the Strategic Plan mentioned in Article 2 is approved, the existing units will be in force in the contingency structure with the respective levels, degrees and supplements, including the Executive Functions. Art. 4o . Default of Decree No. 1066/92 and amended rules from the date of publication of this decree. Art. 5o . Communicate, publish, give to the National Directorate of the Official Register and archvese. . MENEM. . Jorge A. Rodriguez. . Roque B. Fernández.

Annex II

SUPERINTENDANCE OF NATIONAL ASSESSMENT

OBJECTIVES

To carry out the activities of control, inspection and surveying of the market, supervision, collection of fees, application of fines and collection of information, provided for by the Agency in the legal provisions.

Collaborate in the definition of insurance market policies within the framework of the Insurance Advisory Council in accordance with the existing standards.

Resolve in the relevant aspects of the insurance companies and those that operate in self-insurance in accordance with the requirements of the Law on Labour Risks and its regulations, such as: minimum capitals, foreign companies, decrease of minimum capitals for loss, indisposability of investments, technical reserves, funds for amortization and pension, calculation of coverage, investments, administration and balance sheets, merger and assignment of existing regulations, revocation and regulation.

PRIMARY RESPONSIBILITY AND ACTIONS

ADMINISTRATION GERENCE

PRIMARY RESPONSIBILITY

Conduct accounting, economic-financial and property management, as well as the Administration of Human Resources and General Services of the Distribution. Supervising and controlling the taxation of the Uniform and Collective Obligatory Life Insurance Rate by insurance entities, according to the guidelines set out in the legal provisions in the matter.

ACTION

1 - Develop the proposed budget, its programming and implementation control, making the registrations provided by the Financial Administration and National Public Sector Control Systems Act and understanding the relationship with internal and external controls bodies.

2 - Assisting Mr. Superintendent in the design of the Agency ' s budget policy and addressing the various management in the formulation and programming of budgetary implementation and the changes planned during the financial period.

3 - Manage and control resources linked to the Agency ' s economic, financial and property management.

4 - Manage human resources by engaging in the implementation of relevant labour regimes, selection of staff, training and performance evaluation. Diligence the documentation that entered and egressed from the Distribution, protocolizing and filing the administrative acts that generate it.

5 - To have the realization "in situ", where appropriate, of the controls corresponding to the Uniform and Collective Insurance of Obligatory Life, requesting when necessary the collaboration of the Control Management.

6 - Manage the Reserve Fund of the Labour Risk Act in accordance with Article 34, paragraph 27, of the said Law and schedule the investments thereof.

7 - Propose and perform those topics that make the organization of the distribution.

8 - To implement any draft Law, Decree and administrative acts linked to the financial, property and staff salaries regime.

9 - To have acts linked to administrative services, the purchase-sale of goods, the location of services or works and property control.

10 - Proposing and implementing the Agency ' s outreach programmes.

11 - Take the intervention that competes him with respect to the evacuation of consultations, complaints and judicial offices.

ADMINISTRATIVE TECHNICAL MATTERS

ACTION

1 - Coordinate all matters concerning the diligence of the administrative activity, in relation to the administration of Human Resources, Performance assessment, Training, Selection of Personnel, General Service Administration, Office, General Table of Entry, Departures and Archives, Dissemination and the Area of Impresiones.

2 - Supervising and coordinating requests for acquisitions and locations of services or works, as well as those requiring declarations of national interest or auspiciousness for certain events.

3 - Processing of proceedings in the form of service commissions in the interior of the country and abroad, mobility, refunds of various kinds: coordinating all aspects of the Agency ' s Treasury Department.

4 - Develop proposals to improve the technical - administrative organization of the division.

5 - Collaborate with Management in the formulation or reformulation of programming needs in order to achieve a comprehensive information system.

6 - Coordinate the policies and targets designed towards the different subsidiaries of the unit in the field of purchases.

7 - Establish coordination of the Agency ' s administrative activities with the National General Assembly and the Internal Audit Unit.

PRIMARY RESPONSIBILITY AND ACTIONS

JURIDIC GERENCE

PRIMARY RESPONSIBILITY

Dictamine the issues that are taken up in the Agency in order to bring them into line with the existing regulations, exercising the juridical control of the administrative acts, of a particular and general nature that the Agency issues, as well as the legal advice and representation and sponsorship of the SUPERINTENDENCIA DE SEGUROS DE LA NATION ante el PODER JUDICIAL.

ACTION

1 - To exercise the legal advice and to assume the legal representation and sponsorship of the SUPERINTENDENCIA DE SEGUROS DE LA NATION, and to intervene in the evaluation, improvement and precision of the legal-policy structure of the insurer and reinsurance activity.

2 - Dictamine the legal issues arising in the Agency.

3 - Act as a whistleblower and/or a plaintiff when the commission of acts that may constitute offences is verified; represent the Agency as an actor or a defendant, and understand in the orders of search warrants and precautionary measures in accordance with the relevant legal rules.

4 - Intervene in the process of constitution and authorization to operate new insurers and/or reinsurers.

5 - Exercise the legal control of the exercise of the insurance and/or reinsurance activity, insurance consulting producers regime, reinsurance and intermediaries in reinsurance.

6 - Intervene in the proceedings to give rise to the observations or objections made by the NATIONAL ASSESSMENT prior to the final resolution, in accordance with the application of the sanction regime established by the respective Laws, and make the relevant registrations.

7 - Carry out the Registers of Insurance and Insurance Entities; Shareholders of the Insurance Entities, Domiciles of the Insurance and Insurance Entities and Sanctions of Insurance and Insurance Entities.

8 - Designate the technical consultants in the judicial cases in which the NATIONAL ASSESSMENT should be intervened.

9 - Instructing summary proceedings for violations of the Agency ' s functional regulations.

10 - To assume the liquidation of the Secured Entities in cases where the current legislation provides for it and to perform the control of voluntary liquidations of the Secured Entities.

SUBGERENCE OF LEGAL CONTROL OF ASSISTERS AND PRODUCTORS

ACTION

1 - To exercise the legal control of the insurance activity in relation to the functioning and operating conditions of the insurance companies and producers insurance advisors, in particular in the aspects related to the minimum capitals and economic-financial capacity of the company, promoting the actions verified by the non-compliance of the current regulations and instructing, in their case, the relevant administrative summary and promoting the corrective, precautionary and disciplinary measures to be taken.

2 - Dictamine and perform the legal framework of the operations carried out by the insurance companies, in accordance with the legal and regulatory requirements.

3 - Legally control the performance of the functions of insurance producers, as well as of the organizations and companies of insurance producers, and instruct administrative summaries in the alleged breaches of the applicable law, as well as in respect of natural and/or legal persons who exercise as insurance producers without being registered.

PRIMARY RESPONSIBILITY AND ACTIONS

STUDIENCE

PRIMARY RESPONSIBILITY

To carry out the economic-financial and statistical studies of the Secure Entities, requiring them the information necessary to describe the market situation and the characteristics of its evolution, processing the data and disseminating the results.

ACTION

1 - Require the Entities to ensure statistical, economic and financial information to generate and update a database for general use of the entire Superintendency.

2 - Process the information collected, developing results to describe the situation of the insurer market, calculate indicators of its status and prospects, and perform inferences on possible evolution.

3 - Regularly perform the economic-financial and statistical analysis of the processed information, describing indicators concerning the sinisterness, solvency, level of expenditure, assignment and other relevant aspects of the management of the entities.

4 - Link the statistical information generated in the insurance market, with that from other economic and social sectors.

5 - Practicing or requesting other management to carry out verification and evaluation of the information presented by the entities.

6 - Disseminate studies and analyses, and information processed in descriptive, inferential form or by means of indicators.

7 - Conduct periodic reports and publications with the information processed in the Superintendence, and prepare special studies on topics of interest.

8 - Understand all the systems and equipment of the agency, coordinating their incorporation, updating and use in accordance with the standards established by the competent agencies of the national public sector.

9 - Understand all about the agency's bibliotech documentation policy, coordinating the acquisition, classification, systematization, recovery and dissemination of documents and publications linked to insurance and related topics.

10 - To represent the Agency within the National Statistical System (S.E.N.) that coordinates the NATIONAL INSTITUTE OF STATISTIC AND CENSES (I.N.D.E.C.) according to Law No. 17.622.

11 - Take the intervention that competes him with respect to the evacuation of judicial consultations, complaints and offices.

PRIMARY RESPONSIBILITY AND ACTIONS

TECHNICAL GERENCE

PRIMARY RESPONSIBILITY

Authorize the entities provided for in the current legislation to operate in insurance and reassurance and in the different branches and plans and in the approval of technical and contractual elements. Carry out the Records of: Corridors of Reassurances and Authorizations of Ramas. Plans. Clauses and Technical Elements.

ACTION

1 - To project the authorization rule to operate in insurance and reassurance in the different branches and plans as well as in the approval of technical contractual elements, monitoring their "in situ" verification, requesting when necessary the collaboration of the Control Management. Supervising the Register of Reassurance Corridors and the Register of Authorizations.

2 - Perform the general rules in the technical-contractual and tariff.

3 - Verify that the full and retention limits respond to the technically established parameters in the regulations, evaluating their relationship with exposure and catastrophic risks per entity.

4 - Supervising tasks related to the actuarial technique (financial, statistical and biometric).

5 - Conducting studies, approving or rejecting the sufficiency of each entity's premiums.

6 - Supervising risk rates and other technical indicators.

7 - To take the intervention that competes him with respect to the evacuation of consultations, complaints and judicial offices.

SUBGERENCE OF PERSONAL FOLLOWERS

ACTION

1 - Project the authorization norm, to operate, of new insurance companies in the insurance of persons.

2 - To study the different technical-contractual elements of the personal bouquets that are subject to the authorization of the Agency and to propose its concession or rejection and to analyze "in situ" the observance of the approved elements to each entity, requesting when necessary the collaboration of the Control Management.

3 - Evaluate and dictate in the study for the determination of the full, retention limits and its calculation method for the personal bouquets.

4 - To perform tasks related to the actuarial technique, the financial calculation, the statistics and the calculation of probability in its application to the insurance operations. In general, everything related to the assessment of future developments through the use of actuarial techniques.

5 - Develop and propose regulations on the calculation of pure premiums, constitution and calculation of mathematical reserves, guaranteed values and loans to the insured.

6 - Evaluate and dictate about the tax sufficiency of the entities in the branches in their charge.

7 - Intervene in the processing of portfolio assignments for insurance.

8 - Conducting studies that demand the diligence of consultations and complaints made by the insurers, Official and Private Agencies, the insurers and insurers, in relation to the performance of the authorized technical conditions.

PRIMARY RESPONSIBILITY AND ACTIONS

CONTROL GERENCE

PRIMARY RESPONSIBILITY

To carry out the tasks of "in situ" control, analysis and evaluation of accounting states of Entities Insurance and Reasurers and verification of the operator of insurance producers-assors.

ACTION

1 - Fully carry out inspections for controlled entities.

2 - Supervising compliance with the technical obligations required to the Entities of Insurance and Insurance and the obligations of intermediaries.

3 - Supervising the analysis of the plans for the regularization of assets and financial resources presented by the entities, proposing their rejection or approval.

4 - Intervention in the proceedings aimed at establishing whether a particular form or operating modality can be defined as an insurance company.

5- Coordinate the delivery of training and integration courses of the Review Tribunal of insurance advisers.

6 - To carry the Register of Insurance and Societies Advisory Producers, as well as that of the sanctions to them.

7 - To act to replace the Superintendent of National Insurance by assuming the responsibilities inherent in the position, in the absence of the latter.

8 - To take the intervention that competes him with respect to the evacuation of consultations, complaints and judicial offices.

SUBGERENCE OF EVALUATION

ACTION

1 - Auditing the accounting states of the Insurance Entities, verifying compliance with the regulations in force in the matter.

2 - Verify the levels of investment and indices of liquidity and profitability of the Secure Entities.

3 - Develop the database of accounting information systems, for the supervision of insurance entities.

4 - Intervene in the development of the technical standards for the assessment of the economic-financial situation of the Secure Entities.

SUBGERENCE OF INSPECTION A

ACTION

1 - Analyze the accounting statements and determine the economic and financial situation of the entities whose inspection is carried out.

2 - To ensure compliance with the Entity Investment Regime, in particular with regard to its security, profitability and liquidity, as well as compliance with existing provisions concerning maximum and minimum investment.

3 - Perform from your area the analysis and control of the balance sheets of the Entities in order to verify the compliance of the legal, regulatory, statutory, accounting and technical standards, in order to safeguard the economic, financial and property solvency of them.

4 - Fiscalize at the headquarters of the companies the compliance to the current prohibition regime, as well as analyze the compliance of their fiscal and social obligations.

5 - Analyze the viability of the state-of-the-art and financial regularization schemes submitted by the entities and verify, if approved, their compliance by assessing compliance with the existing minimum capital provisions for all Insurance and Insurance Entities, as well as their operation and valuation of technical commitments for insurance and reassurance.

6 - Fiscalize "in situ" the conduct of producers and intermediary agents.

7 - Conduct inspections requested by other areas of the Agency.

INSPECTION B

ACTION

1 - Analyze the accounting statements and determine the economic and financial situation of the entities whose inspection is carried out.

2 - To ensure compliance with the Entity Investment Regime, in particular with regard to its security, profitability and liquidity, as well as compliance with existing provisions concerning maximum and minimum investment.

3 - Perform from your area the analysis and control of the balance sheets of the Entities in order to verify the compliance of the legal, regulatory, statutory, accounting and technical standards, in order to safeguard the economic, financial and property solvency of them.

4 - Fiscalize at the headquarters of the companies the compliance to the current prohibition regime, as well as analyze the compliance of their fiscal and social obligations.

5 - Analyze the viability of the state-of-the-art and financial regularization schemes represented by the entities and verify, if approved, their compliance by assessing compliance with the existing minimum capital provisions for all Insurance and Insurance Entities, as well as their operation and valuation of technical commitments for insurance and reassurance.

6 - Fiscalize "in situ" the conduct of producers and intermediary agents.

7 - Conduct inspections requested by other areas of the Agency.

SUBGERENCES OF INSPECTION C

ACTION

1 - Analyze the accounting statements and determine the economic and financial situation of the entities whose inspection is carried out.

2 - To ensure compliance with the Entity Investment Regime, in particular with regard to its security, profitability and liquidity, as well as compliance with existing provisions concerning maximum and minimum investment.

3 - Conduct from your area the analysis and control of the balance sheets of the insurers in order to verify compliance with the legal, regulatory, statutory, accounting and technical standards, in order to safeguard the economic, financial and property solvency of them.

4 - Fiscalize at the headquarters of the companies the compliance to the current prohibition regime, as well as analyze the compliance of their fiscal and social obligations.

5 - Analyze the viability of the state-of-the-art and financial regularization schemes submitted by the entities and verify, if approved, their compliance by assessing compliance with the existing minimum capital provisions for all Insurance and Insurance Entities, as well as their operation and evaluating the technical commitments for insurance and reinsurance.

6 - Fiscalize "in situ" the conduct of producers and intermediary agents.

7 - Conduct inspections requested by other areas of the Agency.

SUBGERENCE OF INSPECTION D

ACTION

1 - Analyze the accounting statements and determine the economic and financial situation of the entities whose inspection is carried out.

2 - To ensure compliance with the Entity Investment Regime, especially with regard to its security, profitability and liquidity, as well as compliance with the provisions in force regarding maximum and minimum investment.

3 - Execute from your area the analysis and control of the balance sheets of the Entities in order to verify the compliance of the legal norms, statutory regulations, accounting and techniques, in order to safeguard the economic, financial and property solvency of them.

4 - Fiscalize at the headquarters of the companies the compliance to the current prohibition regime, as well as analyze the compliance of their fiscal and social obligations.

5 - Analyze the viability of the state-of-the-art and financial regularization schemes submitted by the entities and verify, if approved, their compliance by assessing compliance with the existing minimum capital provisions for all Insurance and Insurance Entities, as well as their operation and valuation of technical commitments for insurance and reassurance.

6 - Fiscalize "in situ" the conduct of producers and intermediary agents.

7 - Conduct inspections requested by other areas of the Agency.

PRIMARY RESPONSIBILITY AND ACTIONS

UNITY OF INTERNAL AUDITORY

PRIMARY RESPONSIBILITY

To assess and review the activities carried out in the NATIONAL FOLLOW-UP within the framework of the provisions contained in Act No. 24,156 and complementary standards, using the comprehensive and integrated approach to ensure the continued optimization of the levels of efficiency, efficiency and economy in the management of the Agency.

ACTION

1 - Develop the Annual Internal Audit Plan and refer it to the General NATION SINDICATURA for discussion and final approval by the latter.

2 - Assess reasonable compliance with policies, plans and procedures established by the higher authority.

3 - Review and fully evaluate the actions and implementation of operational, accounting, legal and financial controls.

4 - Verify whether the operations are carried out and the income is received in accordance with applicable legal and accounting standards and the corresponding budgetary levels.

5 - To produce audit reports on the activities carried out and, where appropriate, make recommendations and observations accordingly.

6 - To advise on the determination of the rules and procedures of the internal control system.

7 - Precise the accuracy of the recording of the assets and the safeguard measures adopted for their protection.

8 - To follow up on the recommendations and observations made.

9 - Remit a copy of the reports, recommendations and observations to the General SINDICATURA OF NATION.

Annex IIIa

PLANTA PERMANENT

Annex IIIb

PLANTA TEMPORARIA