LEGAL UPDATE: LAWS, DECREES, AGREEMENTS AND RESOLUTIONS PUBLISHED IN THE OFFICIAL GAZETTE MAY AND JUNE 2021

Aug 2, 2021 | English Blog

NATIONAL MICROFINANCE COMMISSION

RESOLUTION No. CD-CONAMI-010-05MAR23-2021 STANDARD OF TRANSPARENCY IN MICROFINANCE OPERATIONS. Dated March 23, 2021. The purpose of this Standard is to establish the rules on the content, scope, dissemination and delivery of the contracts that are signed with the Intermediary Financial Institutions of Microfinance (IFIM), which guarantee their transparency and clarity to avoid that they contain stipulations that restrict the rights of users, that limit the responsibilities of the IFIMs or that represent unequal relationships to the detriment or impairment of clients, in accordance with the provisions of article 72 of the Law for the Promotion and Regulation of Microfinance. As well as regulating the means of calculation and dissemination regarding the annual effective cost rate, interest rate, commissions and expenses that the IFIMs charge to their clients. Gazette No. 80, Pages 3785 to 3803, dated 05/04/2021.

 

NATIONAL ASSEMBLY

LAW No. 1072 LAW OF AMENDMENTS AND ADDITIONS TO LAW No. 977, LAW AGAINST MONEY LAUNDERING, TERRORISM FINANCING AND THE PROLIFERATION OF WEAPONS OF MASS DESTRUCTION FINANCING AND ADDITION TO LAW No. 561, GENERAL LAW OF BANKS, NON-BANKING FINANCIAL INSTITUTIONS AND FINANCIAL GROUP. Dated May 12, 2021. The purpose of this reform is to regulate virtual assets and virtual asset service providers for AML / CFT (Anti Money Laundering and Counter Terrorism Financing) purposes, which will be regulated by an authority that grants them a license or registration and, will be subject to effective monitoring systems by a supervisor, as well as to manage and mitigate risks from virtual assets; strengthen and give greater functional autonomy to the National AML / CFT / CFP Commission, which becomes the National AML / CFT / CFP Council; granting Supervisors and / or regulators the faculty to cancel the authorization or license of operations granted to the obligated subjects, as well as obliging the persons and legal entities to keep updated their information on their final beneficiary and their ownership and control structure, to which the authorities must have access and that the obliged subjects evaluate their risks. Gazette No. 89, Pages 4008 to 4012, of 05/17/2021.

LAW No. 1041 LAW OF THE NICARAGUAN LEGAL DIGEST ON CRIMINAL JUSTICE MATTERS. Dated March 25, 2021. The Nicaraguan Legal Digest on Criminal Justice Matters aims to compile, order, purify and consolidate the current legal framework on this matter. It contains the records of the current legal regulations; the reference of International Instruments approved and ratified by Nicaragua; Legal Regulations not in force or Historical Law and the Nicaraguan Consolidated Legal Regulations, related to Criminal Justice matters. Gazette No. 105, Pages 4592 to 4728, of 06/09/2021.

LAW No. 1044 LAW OF THE NICARAGUAN LEGAL DIGEST ON GOVERNANCE MATTERS. Dated March 25, 2021. The Nicaraguan Legal Digest on Governance Matters aims to compile, order, purify and consolidate the current legal framework on this matter. It contains the records of the current legal regulations; the reference of International Instruments approved and ratified by Nicaragua; Legal Regulations not in force or Historical Law and the Nicaraguan Consolidated Legal Regulations, related to Governance matters. Gazette No. 105, Pages 4728 to 4901, of 06/09/2021.

DECREE A.N. No. 8753 DECREE OF APPROVAL OF THE FRAMEWORK AGREEMENT FOR THE PROMOTION OF THE CIRCULATION OF TALENT IN THE IBERO-AMERICAN SPACE. Dated June 9, 2021. This Decree approves the Framework Agreement for the Promotion of the Circulation of Talent in the Ibero-American Space, signed in Soldeu, Andorra, on April 21, 2021. The objective of the Framework Agreement is to promote the circulation through the territory of the Member States of the Ibero-American Community of human talent in order to favor the transfer of knowledge, scientific and intellectual creation and innovation. Gazette No. 107, Pages 4953 to 4957, of 06/11/2021.

 

MINISTRY OF DEVELOPMENT, INDUSTRY AND TRADE

CENTRAL AMERICAN TECHNICAL REGULATION RTCA 75.01.21: 19 ICS 75.160.20 1st. Revision. PETROLEUM PRODUCTS. LIQUEFIED PETROLEUM GASES: COMMERCIAL PROPANE, COMMERCIAL BUTANE AND THEIR MIXTURES. SPECS. The purpose of this Technical Regulation is to specify the physical-chemical characteristics that Liquefied Petroleum Gas (LPG) must meet: Commercial Propane, Commercial Butane and their mixtures, which are marketed in the States Parties. The surveillance and verification of these technical regulations corresponds to the competent authorities of each of the States Parties. Gazette No. 108, Pages 5030 to 5034, of 06/14/2021.

CENTRAL AMERICAN TECHNICAL REGULATION RTCA 75.02.17: 19 ICS 75.160.20 1st. Revision PETROLEUM PRODUCTS. DIESEL FUEL OIL. SPECS.  The purpose of this Technical Regulation is to specify the physical-chemical characteristics that diesel must meet for automotive and thermoelectric use in the States Parties. This technical regulation applies to the petroleum product known as diesel, formed by a complex mixture of different types of hydrocarbons (paraffinic, naphthenic, olefinic, aromatic and poly aromatic), whose distillation range (boiling) varies between 80 ° C and 400 ° C. The surveillance and verification of these technical regulations corresponds to the competent authorities of each of the States Parties. Gazette No. 108, Pages 5034 to 5040, of 06/14/2021.

CENTRAL AMERICAN TECHNICAL REGULATION RTCA 65.05.67: 18 ICS 65.100 1st. Revision AGRICULTURAL SUPPLIES. ACTIVE INGREDIENT TECHNICAL GRADE, CHEMICAL FORMULATED PESTICIDES, RELATED SUBSTANCES, ADJUVANTS AND PHYSICAL VEHICLES FOR AGRICULTURAL USE. REQUIREMENTS FOR THE PREPARATION OF LABELS AND BANNERS. The purpose of this technical regulation is to establish the information that the labels and pamphlets of formulated chemical pesticides (synthetic and of organic origin), related substances, adjuvants and physical vehicles that are manufactured, packaged, repackaged, imported, distributed and marketed in the States Parties, as well as the identification of registered technical grade active ingredients. Gazette No. 108, Pages 5040 to 5071, of 06/14/2021.

CENTRAL AMERICAN TECHNICAL REGULATION RTCA 67.04.77: 20 ICS: 67.100.20 DAIRY PRODUCTS. BUTTER. SPECS. The purpose of this technical regulation is to establish the specifications that butter must meet (a fatty product derived exclusively from milk and / or products obtained from milk, mainly in the form of a water-in-oil type emulsion). Applicable to butter for direct human consumption or further processing in the territory of the States Parties. The surveillance and verification of these technical regulations corresponds to the competent authorities of each of the States Parties. Gazette No. 108, Pages 5073 to 5075, of 06/14/2021.