Incidencia de la diabetes en el Ecuador

First.- This Law shall become effective one hundred and eighty calendar days from the date of its publication in the Federal official gazette, except for the provisions of transitory articles Tenth and Seventeenth.

Furthermore, on the effective date, the Securities Market Law published on January 2, 1975 in the aforementioned Gazette shall be repealed, except for what is established in the following transitory articles. Second.- The transgressions and crimes committed before this Law becomes effective shall be penalized pursuant to the law in effect at the time that the cited transgressions or crimes are committed.

Third.- The Ministry of Finance, the National Banking and Securities Commission, and the Banco de México, may issue the general provisions to which this Law refers, prior to its effectiveness, but in any case

the aforesaid provisions must establish that their compliance and application shall be subsequent to the date this law becomes effective.

Fourth.- While the Ministry, the National Banking and Securities Commission and the Banco de México issue the general provisions to which this law refers, the provisions issued previous to this Law becoming effective shall continue to be applied in that which does not contravene the provisions of such Law, except for the provisions established in transitory articles Ninth and Twelfth.

Fifth.- The promoting investment corporations that request, and as the case may be, obtain the registration of the shares representing their capital stock or negotiable instruments representing such shares, in the National Registry of Securities, shall be subject to the registration and maintenance requirements applicable to public corporations, until the National Banking and Securities Commission issues the general provisions referred to in article 21 of this Law.

Sixth.-The corporations that have shares representing their capital stock or negotiable instruments that represent them registered in the National Registry of Securities when this Law becomes effective, shall, by law, acquire the nature of public corporations and, consequently, shall adhere to what is set forth in this Law.

The corporations that the paragraph above refers to shall have a term of one hundred and eighty calendar days, counting from when this Law becomes effective, to adjust their corporate denomination to what is indicated in article 22 of the same, as well as to comply with the articles relative to the integration, organization, and functioning of their corporate bodies in terms of what is set forth in Chapter II of Title II of the cited legal ordinance. The foregoing shall not affect the rights that correspond to shareholders of the mentioned corporations to exercise in any way, in terms of what is established in articles 47 to 52 of this Law, nor shall it exempt them from complying with what is set forth in articles 53 to 57 and other obligations that this legal ordinance imposes in its nature of issuer.

Seventh.- The shareholders of the public corporations whose ownership participation is encumbered when this Law becomes effective, in trusts through which the voting right of various shareholders is exercised in the same sense, or, the groups of shareholders that granted agency or commission for such effect, must notify this to the corporation, within the one hundred and eighty calendar days following when this Law becomes effective, for effects of its relevance to the investing public.

Eighth.- The public corporations that have issued shares or implemented the mechanisms referred to in such provisions shall not be subject to the restrictions established in articles 54 and 55 of this Law, prior to its becoming effective, provided that they had abided by, for such purpose, the legal provisions in force at the time of issuing the shares or of implementing the aforesaid mechanisms.

The restrictions indicated in the preceding paragraph shall not be applicable to the public corporations mentioned in such paragraph that subsequently to the entering into effect of this Law:

I. Make modifications on their capital stock, provided that the original proportion of shares of common stock is increased or at least such proportion is maintained, provided that the condition of the issuer justifies it and that such circumstance is disclosed to the public. In both cases, the prior authorization of the National Banking and Securities Commission shall be required, such Commission shall proceed whenever in its opinion it is proven that the interests of the investing public are not affected.

II. Merge or split-off, provided that the surviving or emerging corporation maintains at least the original proportion of shares of common stock of the merged or disappearing corporation. In the event that the merged or disappearing corporation has any other clause in addition to those referred to in article 48 of this Law, the surviving or emerging corporation may incorporate such clause in its bylaws in the act of incorporation, without such legal provision being applicable to it. Ninth.- As of the entering into effect of this Law, the “Rules for the Organization of the National Registry of Securities and Intermediaries” published on April 13, 1993 in the Federal Official Gazette shall be repealed.

The registration entries of any type that are recorded in the National Registry of Securities referred to in article 10 of the Securities Market Law being repealed by this Law, shall be understood as made in the Registry referred to in article 70 of this Law. Furthermore, the registration entries made prior to January 1,

1996, shall be kept in the files referred to in the Rules mentioned in the preceding paragraph, while those subsequent to such date shall be recorded in the electronic folios provided for in this Law.

The references that other laws, regulations or administrative provisions make to the securities sections of the National Registry of Securities, shall be understood as made to the Registry established in article 70 of this Law.

Securities exclusively registered in the special section of the National Registry of Securities may be subject to trading on national territory, on the condition that the provisions of article 9 of this Law are complied with.

Tenth.- Articles 7, second paragraph, 71, second paragraph, and 80 of the present Law, shall become effective one hundred and eighty calendar days following when this Law becomes effective. Until the cited articles become effective, the subscription or sale offer abroad of securities issued in the United Mexican States or by Mexican legal entities, shall be subject to the registration of the securities in the National Registry of Securities, in the same terms and with the exceptions set forth for the special section in the Securities Market Law that is repealed by virtue of this Law.

Eleventh.- Until the Commission recognizes the auditing norms and procedures that articles 87, subsection I and 352, subsection IV of this Law refers to, the legal entities that provide external auditing services to issuers or financial entities, in terms of the present legal ordinance, must provide their services based on the norms and procedures issued on the matter by the Instituto Mexicano de Contadores Publicos, A.C.

Twelfth.- As of the effective date of this Law the “Conditions for the admissibility of the registration and authorization of the public offering of debt instruments issued by financial multilateral institutions of which Mexico is a member” and the “Conditions for the admissibility of the registration and authorization of the public offering of shares from foreign issuers in Mexico”, published in the Federal official gazette on September 14, 2000 and March 20, 2002, respectively, shall be repealed.

Thirteenth.- The securities firms that on the date in which this Law becomes effective operate under the registration that they maintain in the Intermediaries Section of the former National Registry of Securities and Intermediaries in effect until June 2, 2001 or by virtue of being authorized to be organized and to operate as such pursuant to the Securities Market Law being repealed, shall be considered authorized in terms of article 114 of this Law.

The securities firms indicated in the preceding paragraph shall be subject to the provisions of this Law and the general provisions arising therefrom.

Fourteenth.- The securities firms must provide the restrictions indicated in subsection III of article 136 of this Law that, given the case, are applicable, in the agreements as well as in the other related documentation that they execute, starting from when this Law becomes effective.

Fifteenth.- For purposes of the provisions of subsection IV of article 136 of this Law, the subordinated debentures that the securities firms had issued prior to the entering into effect of this Law, shall be governed by the provisions in effect at the time of their issuance.

Sixteenth.- Until the Ministry of Finance or the National Banking and Securities Commission, as applicable, publish the amount of the minimum capital stock that the securities firms, stock exchanges, securities depository institutions and central counterparties of securities must have, such financial entities must comply with the minimum capital stock that, as the case may be, is required according to the provisions established previously to the entering into effect of this Law.

Seventeenth.- The requisite that article 184, last paragraph of the present Law refers to shall be demanded one hundred and eighty calendar days following when the same becomes effective.

Eighteenth.- The securities firms must comply with what is set forth in articles 190 and 191 of this Law, within the one hundred and eighty calendar days following when it becomes effective.

The individuals who are authorized to operate in the stock exchange or to execute transactions with the public as to advising, promotion, purchase, and sale of securities when this law becomes effective, shall be understood as authorized to act in terms of article 193 of the same, as the case may be, being subject to what is set forth in the present legal ordinance and other provisions that arise from it.

Nineteenth.- The stock exchange collateral agreements entered into pursuant to the provisions of article 99 of the Securities Market Law being repealed by virtue of this Law, shall continue to be ruled for their compliance and enforcement by the provisions in effect at the time of their execution.

Twentieth- The professional organizations that would have been recognized as self-regulatory organizations under the Securities Market Law being repealed, may continue operating under such capacity without the need of a new recognition by the Commission, being subject in the future to the provisions of this Law and other general provisions arising therefrom.

Twenty-first.- The stock exchanges, the securities depository institutions and the central counterparties of securities that as of the entering into effect of this Law have a concession to act in such capacity, may continue operating without the need to obtain a new concession, being subject in the future to the provisions of this Law and other general provisions arising therefrom, regardless of the terms, conditions and obligations contained in the corresponding concession certificates that do not contravene the provisions of this Law and that continue to be applicable.

Twenty-second.- The stock exchanges, the securities depository institutions and the central counterparties of securities may continue applying the fees authorized by the Commission prior to this Law becoming effective until they try to modify them, in which case they must abide by the provisions of this Law.

Twenty-third.- The persons who are authorized to operate mechanisms to facilitate transactions with securities in terms of the provisions of article 41, subsection IX, of the Securities Market Law being repealed by this Law, shall be considered authorized to continue operating in the terms established in article 253 of this Law, being subject in the future to the provisions of this statute.

Twenty-fourth.- The price vendors and the securities rating agencies that as of the entering into effect of this Law are authorized to act as such, shall be considered authorized to continue operating in the terms established in articles 323 and 334 of this Law, being subject in the future to the provisions of this statute.

Twenty-fifth.- The price vendors and the securities rating agencies that as of the entering into effect of this Law are authorized to act as such, shall have a term of one hundred and eighty calendar days, counting from when this Law becomes effective, to have the code of conduct that articles 326 and 336 of this Law refer to, as it may correspond.

Mexico, Federal District on December 8, 2005.- Rep. Heliodoro Diaz Escarraga, Chairman.- Sen. Enrique Jackson Ramirez, Chairman.- Rep. Ma. Sara Rocha Medina. Secretary.- Sen. Yolanda E. Gonzalez Hernandez, Secretary.- Signatures.”

In compliance with the provisions in section 1 of article 89 of the Political Constitution of the United Mexican States, and for its due publication and abidance, I issue the present Executive Order in the residence of the Federal Executive Power in Mexico City, Federal District, on December twenty-eighth of the year two thousand five.-Vicente Fox Quesada- Signature.- The Internal Affairs Secretary, Carlos Maria Abascal Carranza- Signature.