Article 2.1.3

1.    Issuing companies and entities must be regularly established and their articles of incorporation and bylaws must conform with the laws and the regulations to which the companies and entities are subject.

2.    Financial instruments must be:

a)      issued in compliance with the laws, regulations and any other provisions that apply;

b)      in conformity with the laws and regulations to which they are subject;

c)      freely negotiable. Financial instruments whose transfer is subject to restrictions are considered freely negotiable when the restrictions do not involve any risk of disturbing the market;

d)      suitable for settlement using the settlement service referred to in Article 69 of the Consolidated Law on Finance or, where established by the provisions applicable to individual market segments, via comparable foreign services subject to supervision by the competent home-country authorities;

e)      suitable for trading in a fair, orderly and efficient manner.