Circular No. 1590 - Establishes the FUNCHEQUE Regulation and Amends Article 21 of the Regulation Annexed to Resolution No. 1,631, of 08.24.89

CIRCULAR NO. 001590

ESTABLISHES THE FUNCHEQUE REGULATION AND AMENDS ARTICLE 21 OF THE REGULATION ANNEXED TO RESOLUTION NO. 1,631, OF 08.24.89.

WE INFORM THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION ON 03.08.90, BASED ON ITEM II OF RESOLUTION NO. 1,682, OF 01.31.90, DECIDED:

ART. 1. TO AMEND ARTICLE 21 OF THE REGULATION ANNEXED TO RESOLUTION NO. 1,631, OF 08.24.89, WHICH SHALL NOW BE IN FORCE WITH THE FOLLOWING WORDING:

"ART. 21 - THE SERVICE FEE REFERRED TO IN ARTICLE 20 SHALL REVERT IN FAVOR OF A FUND, MANAGED BY THE CENTRAL BANK OF BRAZIL, CALLED FUNCHEQUE - FUND FOR THE PROMOTION OF THE APPROPRIATE USE OF CHECKS, INTENDED TO SPONSOR THE DISSEMINATION OF THE CORRECT USE OF CHECKS."

ART. 2. TO ESTABLISH THE ANNEXED REGULATION OF THE FUND FOR THE PROMOTION OF THE APPROPRIATE USE OF CHECKS - FUNCHEQUE.

ART. 3. THIS CIRCULAR SHALL ENTER INTO FORCE ON 03.16.90.

BRASÍLIA (DF), MARCH 09, 1990

WADICO WALDIR BUCCHI
PRESIDENT

REGULATION ANNEXED TO CIRCULAR NO. 1,590

CHAPTER I
PRELIMINARY PROVISIONS

ART. 1 - THE FUND FOR THE PROMOTION OF THE APPROPRIATE USE OF CHECKS - FUNCHEQUE, REFERRED TO IN ARTICLE 21 OF THE REGULATION ANNEXED TO RESOLUTION NO. 1,631, OF 08.24.89, AIMS TO SPONSOR THE DISSEMINATION OF THE CORRECT USE OF CHECKS, WITH A VIEW TO:

I - PROMOTE THE VALORIZATION OF CHECKS AS A PAYMENT INSTRUMENT;

II - CONTRIBUTE TO THE IMPROVEMENT OF BANKING OPERATIONS BY DISSEMINATING INFORMATION AND INSTRUCTIONS REGARDING THE CORRECT USE OF CHECKS, IN ORDER TO PROVIDE THEM WITH GREATER CREDIBILITY;

III - COVER EXPENSES FOR THE PREPARATION AND DISSEMINATION OF THE REGISTER OF ISSUERS OF CHECKS WITHOUT FUNDS - CCF.

ART. 2 - OTHER EXPENSES AND INVESTMENTS DEEMED ESSENTIAL FOR THE ACHIEVEMENT OF ITS OBJECTIVES MAY ALSO BE CARRIED OUT WITH FUNCHEQUE RESOURCES.

CHAPTER II
FUND RESOURCES

ART. 3 - FUNCHEQUE RESOURCES CONSIST OF:

I - THE REMAINING BALANCE OF THE FUND CREATED BY CIRCULAR NO. 559, OF 07.29.80;

II - THE SERVICE FEE INSTITUTED BY ARTICLE 20 OF THE REGULATION ANNEXED TO RESOLUTION NO. 1,631, OF 08.24.89;

III - OTHERS THAT, IN ANY FORM, MAY BE INCORPORATED INTO THE FUND.

CHAPTER III
FUND MANAGEMENT

ART. 4 - THE MANAGEMENT OF FUNCHEQUE IS THE RESPONSIBILITY OF THE SUB-HEAD OF PARLIAMENTARY AFFAIRS AND SOCIAL COMMUNICATION (SUPAR), OF THE PRESIDENCY OF THE CENTRAL BANK OF BRAZIL, NOTING THAT:

I - THE EXECUTION OF DISSEMINATION CAMPAIGNS MUST BE PRECEDED BY A STUDY CLEARLY DEFINING OBJECTIVES, SCOPE, VEHICLES TO BE USED, AND COST AND DURATION ESTIMATES, BASED ON MARKET RESEARCH;

II - ANY INVESTMENT OR DISSEMINATION CAMPAIGN TO BE FUNDED WITH FUNCHEQUE RESOURCES MUST BE PREVIOUSLY AUTHORIZED BY THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL.

ART. 5 - THE SUB-HEAD OF PARLIAMENTARY AFFAIRS AND SOCIAL COMMUNICATION (SUPAR), AS THE MANAGER OF FUNCHEQUE, IS RESPONSIBLE, BEFORE THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, FOR THE CONTROL AND APPLICATION OF RESOURCES, AND IS RESPONSIBLE FOR:

I - ADOPTING THE NECESSARY MEASURES FOR THE IMPLEMENTATION OF PROJECTS APPROVED BY THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL;

II - MONITORING AND SUPERVISING ALL PHASES OF DEVELOPMENT OF PROJECTS AUTHORIZED BY THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL;

III - VERIFYING AND PROPOSING TO THE HEAD OF THE PRESIDENCY'S OFFICE THE PAYMENT AUTHORIZATIONS FOR NOTES AND INVOICES RESULTING FROM APPROVED PROJECTS, AS WELL AS EXPENSES INCURRED WITH FUNCHEQUE RESOURCES;

IV - ACCOUNTING TO THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, SEMI-ANNUALLY, BY SUBMITTING A SPECIFIC VOTE CONTAINING REPORTS AND STATEMENTS RELATED TO THE USE OF FUNCHEQUE RESOURCES;

ART. 6 - THE FINANCIAL ADMINISTRATION DEPARTMENT (DEAFI) OF THE CENTRAL BANK OF BRAZIL IS RESPONSIBLE FOR THE APPLICATION OF THE FUND'S FINANCIAL AVAILABILITIES, AS DEFINED BY ITS MANAGER.

CHAPTER IV
FINAL PROVISIONS

ART. 7 - FOR THE PURPOSES PROVIDED IN THIS REGULATION, THE SUB-HEAD OF PARLIAMENTARY AFFAIRS AND SOCIAL COMMUNICATION (SUPAR), DULY AUTHORIZED BY THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL AND AS THE MANAGER OF FUNCHEQUE, MAY ENTER INTO CONTRACTS OR AGREEMENTS, OBSERVING, IN ANY CASE, THE PRINCIPLE OF BIDDING, AS PROVIDED BY LAW.

§ 1 - DISSEMINATION CAMPAIGNS DEFINED IN ACCORDANCE WITH ITEM I, OF ART. 5. OF THIS REGULATION MAY BE EXECUTED BY A SPECIALIZED COMPANY CONTRACTED BY THE CENTRAL BANK OF BRAZIL.

§ 2 - BIDDING PROCESSES RELATED TO ACQUISITIONS AND CONTRACTS MADE BY FUNCHEQUE SHALL BE CONDUCTED BY THE MATERIAL RESOURCES ADMINISTRATION DEPARTMENT (DEMAP) OF THE CENTRAL BANK OF BRAZIL.

ART. 8 - ALL FUNCHEQUE OPERATIONS SHALL BE ACCOUNTED FOR SEPARATELY, IN COMPLIANCE WITH THE SPECIFIC NORMS AND CRITERIA CONTAINED IN THE MANUAL OF THE FINANCIAL ADMINISTRATION SERVICE OF THE CENTRAL BANK OF BRAZIL.