LAW No. 1043 SPECIAL LAW FOR THE DEVELOPMENT OF THE PUERTO SANDINO CENTRAL PROJECT FOR THE GENERATION OF ELECTRICAL ENERGY BASED ON NATURAL GAS. Dated October 29, 2020. The aim of this Special Law is to promote the development of a project for the generation of electricity based on natural gas to be developed by NFE Nicaragua Development Partners LLC, Sucursal Nicaragua. The project will consist of the design, development, engineering, financing, construction, ownership, possession, operation, maintenance and administration of an energy solution based on natural gas, which includes storage, transportation of LNG and natural gas, regasification and generation of electrical energy, including any expansion undertaken by the Developer Investor in Nicaragua. Gazette No. 203, Pages 9499 to 9502, dated 11/03/2020.
LAW No. 1046 LAW OF AMENDMENT TO LAW No. 620, GENERAL LAW OF NATIONAL WATERS. Dated November 13, 2020. With this Law, 58 articles of the General Law of National Waters were reformed and a new Chapter is added, called: Creation of the National Council for the Development of Water Resources and the Commission for the Sustainable Administration of Water Resources and its Functions. This law repeals Law No. 626, Law that creates the Commission for the Sustainable Development of the Water Basin of the Lake Cocibolca and San Juan River, published in the Official Gazette No. 159 of August 21, 2007 and its reform; Law No. 275, Law of Reform to the Organic Law of the Nicaraguan Institute of Aqueducts and Sewers (INAA), published in the Official Gazette no. 18 of January 28, 1998 and its reforms; Decree – Law No. 123, Organic Law of the Nicaraguan Institute of Aqueducts and Sewers (INAA), published in the Official Gazette No. 44 of October 30, 1979 and its reforms; Decree No. 25-98, Regulation of the Organic Law of the Nicaraguan Institute of Aqueducts and Sewers (INAA), published in the Official Gazette No. 70 of April 17, 1998; Decree No. 25-91, Creation of the Managua Lake Basin Commission, published in the Official Gazette No. 113 of November 20, 1991 and its reforms; Decree No. 20, Creation of the Nicaraguan Institute of Aqueducts and Sewers (INAA), published in the Official Gazette No. 03 of August 24, 1979; Chapter I, of the National Council of Water Resources with its Articles 21, 22 and 23, located within Title III, of the Water Administration System; and Articles 27, 30, 32, 64, 97, 98, 117, 121, 131, 132, 133, 134, 153 and 155, all of Law no. 620, General Law of National Waters, published in the Official Gazette no. 169 of September 4, 2007; and literal e) of Article 14, referring to the Nicaraguan Institute of Aqueducts and Sewers, of Law no. 290, Law of Organization, Competence and Procedures of the Executive Power, published in the Official Gazette no. 102 of June 3, 1998 and its reforms. Gazette No. 217, Pages 10255 to 10268, of 11/23/2020.
NATIONAL COMMISSION OF MICROFINANCE
RESOLUTION No. CD-CONAMI-021-01OCT27-2020 Dated October 27, 2020. The aim of this standard is to authorize Microfinance Institutions and Microfinance Intermediary Financial Institutions regulated by CONAMI, after compliance with formal requirements and internal control, to use the pre-printed signature of the legal representative of the institution or of the person previously authorized for this purpose, in the contracts referred to in this standard, in order to expedite customer service and the commercialization of mass placement credit products. Gazette No. 209, Pages 9850 to 9852, of 11/11/2020.
MINISTRY OF DEVELOPMENT, INDUSTRY AND TRADE
ICS 11.120.01 NTON 19 013 – 20 NICARAGUENSE MANDATORY STANDARD, MEDICINES FOR HUMAN USE. PRODUCTS OF BIOLOGICAL AND BIOSIMILAR ORIGIN. REGISTRATION REQUIREMENTS. Dated September 9, 2020. The purpose of this Mandatory Standard is to establish the requirements for the registration, renewal and modifications to the sanitary registry of Biological and Biosimilar Products for human use, as well as the release of batches of biological products according to risk assessment. This standard applies to natural or legal persons engaged in the manufacture, import, distribution and commercialization of biological and biosimilar products for human use. Gazette No. 210, Pages 9911 to 9946, of 11/12/2020.
RTCA 11.03.69: 13 ICS 11.120.99 CENTRAL AMERICAN TECHNICAL REGULATION PHARMACEUTICAL PRODUCTS. NATURAL MEDICINAL PRODUCTS FOR HUMAN USE. GOOD MANUFACTURING PRACTICES. Dated April 30, 2020. The purpose of this Regulation is to establish the principles and guidelines of Good Manufacturing Practices, which regulate all the procedures involved in the manufacture of natural medicinal products for human use, in order to ensure their efficacy, safety and quality. It applies to all manufacturing laboratories of natural medicinal products for human use, established in the States Parties. Gazette No. 211, Pages 9956 to 10012, of 11/13/2020.
ICS 65.020.20 NTON 11 051-19 NICARAGUAN MANDATORY STANDARD. GOOD AGRICULTURAL PRACTICES. REQUIREMENTS AND EVALUATION OF CONFORMITY. Dated September 9, 2020. This Nicaraguan Mandatory Standard is intended to establish the guidelines and technical requirements for the implementation of Good Agricultural Practices (GAP). This Standard applies to primary production, cultivation, harvest, transportation and collection of products of plant origin for their official certification or by an authorized third party. The peanut and oil palm plantations are excepted for the application of this standard, for which the rules corresponding to those items will be applied in their current version. Gazette No. 220, Pages 10456 to 10466, of 11/26/2020.
SUPERINTENDENCE OF BANKS AND OTHER FINANCIAL INSTITUTIONS
RESOLUTION No. CD-SIBOIF-1215-1- NOV17-2020 STANDARD FOR UPDATING THE SHARE CAPITAL OF INSURANCE COMPANIES. Dated November 17, 2020. This Standard updates the minimum share capital required for insurance companies according to the insurance group to operate: 1) Property and compulsory insurance at C$ 64,580,000.00; 2) Personal insurance (life, personal accident, health, pension insurance, and income) at C$ 64,580,000.00; 3) Patrimonial and mandatory insurance, as well as personal, income and pension insurance at C $ 129,160,000.00; 4) Bonds in C$ 16,145,000.00; 5) Reinsurance or re-guarantee in the amount equivalent to 1.5 times the amounts established in the preceding paragraphs for each of the modalities that operate. Insurance companies that have an authorized share capital below the minimum share capital established in this Standard upon entry into force of this Standard, must update it and have it subscribed and paid for at the latest within 7 calendar days after the next Ordinary General Assembly of Shareholders. Gazette No. 219, Pages 10376 and 10377, of 11/25/2020.
RESOLUTION No. CD-SIBOIF-1215-2- NOV17-2020 STANDARD FOR UPDATING THE SHARE CAPITAL OF GENERAL DEPOSIT WAREHOUSES. Dated November 17, 2020. With this Standard, was updated the minimum capital required for national general deposit warehouses and branches of foreign general deposit warehouses at C $ 38,454,000.00. Warehouses that have an authorized share capital below the minimum share capital established in this Standard upon entry into force of this Standard, must update it and have it subscribed and paid for no later than 7 calendar days after the next Ordinary General Assembly of Shareholders. Gazette No. 219, Pages 10377 and 10378, of 11/25/2020.
RESOLUTION No. CD-SIBOIF-1215-3- NOV17-2020 STANDARD ON UPDATING THE SHARE CAPITAL OF RISK-RATING COMPANIES. Dated November 17, 2020. This Standard updated the minimum capital required for risk rating companies at C $ 2,063,000.00. Risk rating companies that have authorized capital stock below the minimum share capital established in this Standard at the time of entry into force of this Standard must update it and have it subscribed and paid at the latest within 7 calendar days after the next Ordinary General Assembly of Shareholders. Gazette No. 219, Pages 10378 and 10379, of 11/25/2020.
CENTRAL BANK OF NICARAGUA
RESOLUTION CD-BCN-LVII-2-20 EXCHANGE SLIP RATE. Dated November 25, 2020. With this Resolution, the exchange rate slippage of Córdoba in relation to the United States Dollar currency is established at 2% (before 3%) per year. Said rate will be applied as of December 1 of the current year. Gazette No. 221, Pages 10528 and 10529, of 11/27/2020.