SECTION 60

Any natural person under the obligation to register in the Register of Commerce and Securitieswho did not apply within the prescribed deadline shall not assume the status ofmerchant until he registers, when such status is required. Any legal entity under the obligation to register in the Register of Commerce and Securitieswhich did not apply within the prescribed deadline shall not assume the legal personality until its registration. However, both shall not raise their registration failure in the Register of Commerce and Securities to avoid responsibilities and obligations inherent in this capacity.