Obligation to Save Documentation

Under General Resolution No. 629/2014, the Argentine Securities Commission (Comisión Nacional de Valores, “CNV”) has established that public companies must save the supporting documentation of their financial operations and of their management in appropriate places that ensure its conservation and inalterability.
In the event of entrusting third-parties with the deposit of documentation different from books or accounting records (that must be at the registered headquarters’ domicile) or that dates from a certain year, a note to the financial statements should be included stating the place where it is deposited, indicating the name of the depositary and domicile. The company must maintain the detail of the documentation given on guard to the depositary at the disposal of the CNV at all times in the registered headquarters’ domicile.
The new resolution of the CNV must be fulfilled as from the presentation of the first quarter or annual financial statements filed.