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Law on bearer security holder disclosure enters into force

14 October 2012

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Approved Changes

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Uruguay

On 1 August 2012, Law No.18930 requiring corporations to provide the Central Bank of Uruguay with details of holders of bearer securities became effective. Registered or book equity participations are excluded from the scope of the Law. The Law provides for the imposition of a penalty for non-compliance of up to 100 times the maximum fine set. In addition, recalcitrant account holders may not exercise their right of participation in the corporation.