Circular No. 2327 — Fixes the Number of Air Ticket Quotas per Consortium Administrator, as Provided for in Circular No. 2,312 of May 26, 1993

CIRCULAR NO. 002327

FIXES THE NUMBER OF AIR TICKET QUOTAS PER CONSORTIUM ADMINISTRATOR, AS PROVIDED FOR IN CIRCULAR NO. 2,312 OF MAY 26, 1993.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, BASED ON LAW NO. 8,177 OF MARCH 1, 1991, HAS DECIDED:

ART. 1. TO GIVE THE FOLLOWING WORDING TO SUBSECTION IV OF ARTICLE 2 OF CIRCULAR NO. 2,312 OF MAY 26, 1993:

"IV - IT MUST PRESENT ADJUSTED NET WORTH (ANW) EQUAL TO OR GREATER THAN THAT REQUIRED FOR LEVEL 3 (THREE) ESTABLISHED IN SUBSECTION III OF ARTICLE 1 OF CIRCULAR NO. 2,195 OF JUNE 30, 1992, THIS RELATIONSHIP WILL BE VERIFIED IN THE DATA CONTAINED IN THE LAST SEMI-ANNUAL BALANCE SHEET SENT TO THE CENTRAL BANK, FROM THE BALANCE SHEET DRAWN UP ON DECEMBER 30, 1992;".

ART. 2. EACH ADMINISTRATOR, ACCORDING TO THE LEVEL OF OPERATION IN WHICH IT IS CLASSIFIED, MAY NOT, AT ANY TIME, PRESENT A TOTAL OF SUBSCRIBED AND UNAWARDED QUOTAS EXCEEDING:

• LEVEL 3: ONE HUNDRED AND TWENTY THOUSAND QUOTAS;

• LEVEL 4: TWO HUNDRED THOUSAND QUOTAS;

• LEVEL 5: TWO HUNDRED AND FIFTY THOUSAND QUOTAS.

SINGLE PARAGRAPH. FOR NON-PROFIT CIVIL ASSOCIATIONS AUTHORIZED TO ADMINISTER CONSORTIUM GROUPS, THE LIMIT PROVIDED FOR IN THIS ARTICLE IS 25,000 (TWENTY-FIVE THOUSAND) QUOTAS.

ART. 2. THIS CIRCULAR ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASILIA (DF), JULY 7, 1993

CLAUDIO NESS MAUCH
DIRECTOR OF NORMS AND ORGANIZATION
OF THE FINANCIAL SYSTEM