Securities depository companies subject to Law no. 18.876 must be constituted as special stock companies in accordance with the provisions of Article 126 of Law No. 18.046 on Public Limited Companies.
"TITLE I - The Deposit Agreement and the Provisions
Article 1 .- The securities depository companies that This law regulates (hereinafter "the companies" or "the company") will be constituted as special stock companies and will have the exclusive purpose of receiving securities in deposit and facilitating the transfer operations of the same, according to the procedures contemplated in this law .
[...]
TITLE II - Of the Company and of the Depositors
Article 18 .- The companies will be subject to the following specific rules:
a.- They must be constituted in accordance with the provisions of Article 126 of Law No. 18,046, and shall be governed by the rules applicable to public limited companies in what is not contrary to this law. In their name they must include the expression "securities depository". [...]" (Law no. 18.876 Establishing the Legal Framework for the Constitution and Operation of Private Securities Deposit and Custody Entities (21 December 1989), last amended on 26 October 2016, Articles 1 and 18 [google translation])
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"TITLE XIII - Of the Companies subject to special regulations.
Art. 126. Insurance and reinsurance companies, joint-stock companies managing mutual funds, stock exchanges and other companies that the law expressly submits to the procedures indicated below, are formed, exist and approved by public deed, obtaining of a resolution of the Commission authorizing its existence and registration and publication of the special certificate granted by said Commission.
Public deeds must contain, in addition to the general mentions required by this law, the special ones required by the particular laws that govern them.
The Commission must verify that these companies comply with the legal and economic requirements required for this purpose, in order to authorize their existence.
The resolutions that revoke authorizations granted will be founded.
Once the existence of a company has been approved, the Commission will issue a certificate that will certify such circumstance and contain an extract of the clauses of the statute determined by said body, which will be registered in the Commercial Registry of the registered office and published in the Official Gazette within of the period of 60 days counted from the date of the resolution. [...]" (Law no. 18.046 on Public Limited Companies (22 October 1981), last amended on 13 April 2021, Article 126 [google translation])
Law no. 18.876 Establishing the Legal Framework for the Constitution and Operation of Private Securities Deposit and Custody Entities (21 December 1989), last amended on 26 October 2016, Articles 1 and 18
Law no. 18.046 on Public Limited Companies (22 October 1981), last amended on 13 April 2021, Article 126
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