Circular No. 2178 — Exemption from provisions of Circular No. 2,163 for applications filed by April 22, 1992, and amendment of the affiliated administrator concept

CIRCULAR Nº 002178

TO CONSORTIUM ADMINISTRATORS

EXEMPTION FROM THE APPLICATION OF THE PROVISIONS CONTAINED IN THE REGULATION ATTACHED TO CIRCULAR NO. 2,163, OF 04/20/1992, PUBLISHED IN THE OFFICIAL GAZETTE ON 04/22/1992, TO APPLICATIONS FILED WITH THE CENTRAL BANK OF BRAZIL BY 04/22/1992, AND AMENDMENT OF THE CONCEPT OF AFFILIATED ADMINISTRATOR.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 05/20/1992, BASED ON LAW NO. 8,177, OF 03/01/1991, DECIDED:

ART. 1. ESTABLISH THAT THE PROVISIONS CONTAINED IN THE REGULATION ATTACHED TO CIRCULAR NO. 2,163, OF 04/20/1992, DO NOT APPLY TO APPLICATIONS THAT HAVE BEEN FILED WITH THE CENTRAL BANK OF BRAZIL BY 04/22/1992.

ART. 2. AMEND THE PROVISIONS IN ITEMS II AND III OF ART. 6 OF THE REGULATION ATTACHED TO CIRCULAR NO. 2,163, OF 04/20/1992, WHICH SHALL NOW BE IN EFFECT WITH THE FOLLOWING WORDING:

"ART. 6......

I - ...

II - WHERE ADMINISTRATORS, AS WELL AS THEIR RESPECTIVE RELATIVES UP TO THE SECOND DEGREE, OF ONE PARTICIPANT PARTICIPATE, JOINTLY OR SEPARATELY, WITH 10% (TEN PERCENT) OR MORE OF THE CAPITAL OF ANOTHER, DIRECTLY OR INDIRECTLY;

III - WHERE PARTNERS OR SHAREHOLDERS WITH 10% (TEN PERCENT) OR MORE OF THE CAPITAL OF ONE PARTICIPATE WITH 10% (TEN PERCENT) OR MORE OF THE CAPITAL OF ANOTHER, DIRECTLY OR INDIRECTLY;

IV - ......"

ART. 3. ARTICLE 3 OF CIRCULAR NO. 2,163, OF 04/20/1992, IS HEREBY REPEALED.

ART. 4. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASÍLIA (DF), MAY 20, 1992

GUSTAVO JORGE LABOISSIÈRE LOYOLA
DIRECTOR