COVID - 19 - Extension in the suspension of the closing of accounts, disqualification and application of fines for bounced checks and in the requirement to credit institutions that employers

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EXTENSION IN THE SUSPENSION OF THE CLOSING OF ACCOUNTS, DISQUALIFICATION AND APPLICATION OF FINES FOR BOUNCED CHECKS AND IN THE REQUIREMENT TO CREDIT INSTITUTIONS THAT EMPLOYERS DO NOT OWE AMOUNTS FOR PAYMENTS AND/OR CONTRIBUTIONS

The Executive Branch issued Decree No. 425/2020 ordering the extension until June 30, 2020 of the provisions set forth in sections 1 and 2 of Decree No. 312/2020, that is:

- The suspension of the obligation set forth in section 1, of Law No. 25,730 on Checks, to proceed with the application of fines, closing of bank accounts and to order the disqualification of the drawer of a bounced check due to lack of funds, or without authorization to overdraw, or with formal defects.

- The suspension of the obligation set forth in section 12 of Law No. 14,499 of retirement and pensions to credit institutions in the event that they require employers, prior to the granting of a credit, a certificate or affidavit that they do not owe any amount for payments and/or contributions or that, having accepted a moratorium, are up to date with their compliance.