On 19 August 2021, General Resolution N° 11/2021 (the “Resolution 11/2021”) of the Inspectorate General of Justice was published in the Official Gazette.
Resolution 11/2021 establishes a series of extensions as follows:
(i) Extends until 31 December 2021 the expiry date of the offer of deferral of the tax rate and administrative charges in accordance with the scheme provided for in Article 3 of General Resolution No. 14/2020 (RG 14/2020) to subscribers with savings and awarded contracts whose grouping has occurred until the effective date of this resolution and to subscribers with contracts terminated by resignation, rescission or termination from 1 April 2018 until the effective date of this resolution.
It is worth mentioning that RG 14/2020 stipulates that the deferral may be made on up to a maximum of twelve consecutive instalments due at the time the option is exercised.
Article 3 of RG 14/2020 provides for the following scheme:
Of the twelve or lesser number of consecutive instalments due on which the option may be exercised, the following percentages shall be deferred:
(a) of the last four or less shall be deferred by ten percent;
(b) of the above four or less, twenty per cent;
(c) of the first four or less, thirty per cent.
For the purposes of Resolution 11/2021, companies shall adapt the option form approved by General Resolution IGJ No. 14/2020 to this extension.
(ii) Extends until 31 December 2021 the deadlines to:
a. Condone the interest on penalties for non-payment on time accrued and those accrued provided that the payment of the debt is made from the entry into force of Res. 14/2020 and no later than 31 December 2021.
b. To annul the application of the limit provided for in the contracts for the subscriber to reject the awards or to let the term for their acceptance expire.
During the extensions referred to in points (i) and (ii) above, the following obligations shall be maintained
– Dissemination (the conditions of the approved scheme must be made clearly and concisely available to subscribers)
– Transparency (to the cost regime of delivery of the vehicles they award for their savings plans).
Finally, Resolution 11/2021 stipulates that prior to the initiation of foreclosure proceedings, management companies must conduct out-of-court negotiations with subscribers and their guarantors, and if these do not produce positive results, they must notify them expressly and in writing of their right to resort to COPREC and, where appropriate, to the Consumer Relations Audit procedure or to the services implemented by local consumer protection jurisdictions; it shall be compulsory for the management companies to attend the hearings, instances and proceedings that correspond in accordance with the applicable procedures and, in general, to collaborate actively in order to reach an adequate solution to the disputes.