Circular No. 1983 - Consortia - Credit in Kind - Amendment of Provisions Regarding Operations Contained in Portaria 190 of October 27, 1989 - Certificate of Authorization Granted to Administrators Operating in the Consortium System Valid for Indefinite Period

CIRCULAR N. 001983

TO CONSORTIUM ADMINISTRATORS

AMENDS PROVISIONS RELATING TO CONSORTIUM OPERATIONS CONTAINED IN PORTARIA NO. 190, OF 27.10.89, OF THE MINISTRY OF FINANCE.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK, IN A SESSION HELD ON 03.07.91, BASED ON THE PROVISIONS OF ART. 33 OF LAW NO. 8.177, OF 01.03.91, DECIDED:

ART. 1. THE CERTIFICATE OF AUTHORIZATION, WHICH SHALL HAVE INDEFINITE VALIDITY, IS THE DOCUMENT THAT AUTHORIZES THE ADMINISTRATOR TO OPERATE IN THE CONSORTIUM SYSTEM, OBSERVED THE TERMS, LIMITS, AND CONDITIONS CONTAINED THEREIN AND IN THE PLAN REGULATIONS THAT ACCOMPANY IT.

SINGLE PARAGRAPH. THE ALTERATION OF ANY OF THE DATA OF THE CERTIFICATE OF AUTHORIZATION DEPENDS ON PRIOR AUTHORIZATION FROM THE CENTRAL BANK OF BRAZIL.

ART. 2. THE VALIDITY OF THE CERTIFICATES OF AUTHORIZATION ISSUED, UNDER THE TERMS AND CONDITIONS ESTABLISHED IN PORTARIA NO. 190, OF 27.10.89, IS HEREBY EXTENDED FOR AN INDEFINITE PERIOD, OBSERVED THE CONTENT OF THE SINGLE PARAGRAPH OF THE PREVIOUS ARTICLE, AS WELL AS THE PROVISIONS OF RESOLUTION NO. 1.778, OF 19.12.90.

ART. 3. IF THE DELIVERY OF THE ITEM DOES NOT OCCUR WITHIN A MAXIMUM OF 30 (THIRTY) DAYS AFTER THE DATE OF THE ASSEMBLY, DUE TO THE ABSENCE OF THE SAME IN THE MARKET, THE AWARDED CONSORTIUM MEMBER MAY CHOOSE:

I - FOR AN ITEM DIFFERENT FROM THE ONE ORIGINALLY STATED IN THE CONTRACT OR OPTION, NEW, OF NATIONAL OR FOREIGN MANUFACTURE; OR

II - FOR A USED VEHICLE, WITH UP TO 03 (THREE) YEARS OF MANUFACTURE, INCLUDING THE PURCHASE, ACQUIRED FROM AN AUTHORIZED DISTRIBUTOR UPON ISSUANCE OF AN INVOICE AND CERTIFICATE OF FUNCTIONING WARRANTY FOR A PERIOD OF 03 (THREE) MONTHS OR 5,000 (FIVE THOUSAND) KILOMETERS, COVERING CHASSIS AND ENGINE; OR

III - FOR THE RECEIPT OF CREDIT IN CASH IN THE OCCURRENCE OF THE PROVISIONS OF ITEM 49 OF PORTARIA NO. 190, OF 27.10.89.

PARAGRAPH 1. THE ITEMS REFERRED TO IN ITEMS I AND II OF THIS ARTICLE MUST BE OF EQUAL OR HIGHER VALUE THAN THE OBJECT OF THE PLAN.

PARAGRAPH 2. THE DELIVERY OF THE ITEM TO THE AWARDED CONSORTIUM MEMBER IS CONDITIONED ON THE PAYMENT OF OBLIGATIONS, IN DELAY, PROVEN TO HAVE OCCURRED AFTER THE AWARD.

ART. 4. ITEMS 5, 6, AND 46 OF PORTARIA NO. 190, OF 27.10.89, ARE HEREBY REPEALED.

ART. 5. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), JULY 4, 1991

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR