Negociación de cheques de pago diferido
Date | 31 October 2003 |
Author | Ricardo W. Beller |
Published date | 31 October 2003 |
Law Firm | Marval O'Farrell Mairal |
El Decreto Nº 386/03, de fecha 10 de julio de 2003 (el “Decreto”) estableció modificaciones en el régimen y transmisión del cheque de pago diferido, a fin de facilitar el acceso al crédito fundamentalmente para las pequeñas y medianas empresas.
El Decreto autorizó la negociación bursátil de cheques de pago diferido, y estableció un marco para su reglamentación por la Comisión Nacional de Valores (“CNV”) en lo atinente a la operatoria de la negociación y al Banco Central de la República Argentina (“BCRA”) respecto del deber de secreto y la protección de datos personales.
Los cheques extendidos a favor de una persona determinada con la cláusula “NO A LA ORDEN”, o expresión equivalente, sólo eran transmisibles por una cesión de créditos. Bajo las disposiciones del nuevo régimen pueden además transferirse por simple endoso a una entidad financiera o ser depositados en Caja de Valores S.A. (la “Caja”), indicando en su endoso obligatoriamente la leyenda “PARA SU NEGOCIACIÓN EN MERCADOS DE VALORES”.
Los cheques de pago deferido depositados en la Caja podrán ser negociados en las bolsas de comercio y mercados de valores de la Argentina, conforme a sus respectivos reglamentos, los cuales deberán prever un sistema electrónico que calce las ofertas automáticamente con prioridad precio-tiempo.
La oferta primaria y la negociación bursátil de estos cheques no se considerará “oferta pública” y por lo tanto no requerirán la autorización previa de la CNV. Los endosantes y firmantes del documento tampoco se considerarán emisores o intermediarios en la oferta pública.
La negociación bursátil no generará obligación cambiaria entre las partes intervinientes en la operación.
Mediante la RG Nº 452/03 del 1 de octubre de 2003 la CNV prevé las siguientes modalidades:
(i) cheques de pago diferido emitidos por sociedades comerciales, cooperativas, asociaciones civiles, mutuales y fundaciones (endosados y...
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