Through Decree 1008 of July 14, 2020, the Ministry of Commerce, Industry and Tourism (Ministerio de Comercio, Industria y Turismo) regulated the Single National Registry of Operating Entities of Direct Discount (Registro Único Nacional de Entidades Operadoras de Libranza o Descuento Directo - Runeol) to be conducted by the Chambers of Commerce virtually in order to publicize the operators of direct discounts (libranzas) or direct discount and credit management entities of direct discount.
In this register, the following acts will be electronically recorded:
- The registration, updating, renewal and cancellation of direct discount operators.
- Information on purchase, sale and encumbrance operations made with respect to equity rights of credit content derived from direct discount operations, made by entities not controlled by the Financial Superintendence (Superintendencia Financiera).
The Runeol will be available through the website of the Registro Único Empresarial y Social (RUES) so that operators, after creating a user account to verify their identity, can request registration, updating, renewal or voluntary cancellation for which they must meet the following requirements:
- Completely fill in the fields of the electronic form provided for this purpose.
- Attach a digital copy of the certificate of validity of the contract with financial, credit and service information data banks, where the obligation to report the information to these entities is accredited.
For the purposes of registration, all direct discount operators must indicate in their corporate purpose the performance of direct discount operations, the lawful origin of their resources and comply with the other legal requirements in force to carry out their business activity.
Additionally, the Decree indicates the procedure to be followed for the registration, updating, renewal or voluntary cancellation of the registration. In this regard, the Decree establishes the obligation of direct discount operators to renew their registration annually between January 10 and March 31 of each year, regardless of the date of initial registration or renewal.
If the registration is not renewed, the effects of opposability deriving from the registration will cease, as well as the solidarity of the employer or paying entity in the payment or discount to the operator, with respect to the disbursements made after the non-renewal, until a new registration is made.
Finally, it is established that the commercial companies operating direct discounts will be subject to the inspection of the Superintendence of Companies (Superintendencia de Sociedades), unless the causes foreseen in the Law or in the Decree are configured so that the surveillance of these can proceed.