The Central Bank of Paraguay issued a clarification on the legal disqualifications and incompatibilities that apply to candidates in the public merit competition for the post of Superintendent of Retirement and Pensions. Responding to questions about applicants' links to retirement and pension entities, it distinguished between absolute, permanent bars to holding office under Article 21 of Law No. 7235/2023 and conflict of interest situations under Article 22 that may be remedied before appointment. The disqualifications in Article 21 are described as objective legal impediments that automatically prevent access to or exercise of the post and cannot be cured. Examples include criminal convictions, judicial disqualifications and suspension of citizens' rights. By contrast, the incompatibilities in Article 22 cover relationships that may create conflicts of interest, including being a shareholder, partner, director, manager, employee or supplier of a retirement and pension entity, as well as commercial, financial or professional links with such entities. The same applies to certain family connections, extending to relatives up to the fourth degree of consanguinity and second degree of affinity. Those incompatibilities may be resolved through steps such as resigning positions, selling shareholdings or ending contractual relationships. The clarification states that the person selected for the role must not be subject to any Article 22 incompatibility when taking office, and that this is a prior and indispensable condition for the Executive Branch to issue the appointment decree. It also places responsibility on each applicant to verify their personal, professional and patrimonial situation against the legal requirements.
Central Bank of Paraguay2025-11-06
Central Bank of Paraguay clarifies disqualifications and conflict of interest rules for pensions superintendent applicants
The Central Bank of Paraguay clarified the legal restrictions for candidates seeking the post of Superintendent of Retirement and Pensions. It said Article 21 disqualifications are absolute and cannot be remedied, while Article 22 incompatibilities are conflict of interest situations that can be cured before appointment. Any incompatibility must be cleared before the appointee takes office and before the Executive Branch issues the appointment decree.