Circular No. 2342 — Regulates the Constitution, Operation and Administration of Consortium Groups Referenced in Trucks, Buses, Tractors, Road Equipment, Agricultural Machinery and Equipment, Aircraft and Vessels

CIRCULAR NO. 002342

REGULATES THE CONSTITUTION, OPERATION AND ADMINISTRATION OF CONSORTIUM GROUPS REFERENCED IN TRUCKS, BUSES, TRACTORS, ROAD EQUIPMENT, AGRICULTURAL MACHINERY AND EQUIPMENT, AIRCRAFT AND VESSELS.

WE COMMUNICATE THAT THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BRAZIL, IN A SESSION HELD ON 14.07.93, BASED ON LAW NO. 8,177, OF 01.03.91, DECIDED THAT:

ART. 1. THE PROVISIONS CONTAINED IN THE REGULATION ATTACHED TO CIRCULAR NO. 2,196, OF 30.06.92, WITH THE CHANGES INTRODUCED BY CIRCULAR NO. 2,255, OF 09.12.92, WHICH GOVERN THE CONSTITUTION AND OPERATION OF CONSORTIUM GROUPS REFERENCED IN MOTOR VEHICLES, SHALL ALSO GOVERN THOSE REFERENCED IN TRUCKS, BUSES, TRACTORS, ROAD EQUIPMENT, AGRICULTURAL MACHINERY AND EQUIPMENT, AIRCRAFT AND VESSELS, CONSTITUTED FROM 01.08.93.

ART. 2. CONSORTIUM GROUPS REFERENCED IN TRUCKS, BUSES, TRACTORS, ROAD EQUIPMENT, AGRICULTURAL MACHINERY AND EQUIPMENT, AIRCRAFT AND VESSELS MAY BE CONSTITUTED WITH A MAXIMUM DURATION OF 100 (ONE HUNDRED) MONTHS.

ART. 3. PARTICIPANTS IN NEW CONSORTIUM GROUPS REFERENCED IN TRUCKS, BUSES, TRACTORS, ROAD EQUIPMENT, AGRICULTURAL MACHINERY AND EQUIPMENT, AIRCRAFT AND VESSELS MAY PREPAY FUTURE INSTALLMENTS, IN DIRECT OR REVERSE ORDER, PROVIDED THAT, IF THE RESOURCE IS NOT USED FOR CONTEMPLATION IN THE SAME ASSEMBLY IN WHICH THE PREPAYMENT OCCURS, THE CONSORTIUM MEMBER WHO HAS UTILIZED THIS FACULTY SHALL BE OBLIGED TO PAY THE DIFFERENCE BETWEEN THE MONTHLY INSTALLMENT VALUE AND THE PREPAID VALUE PLUS NET FINANCIAL YIELDS, UNTIL THE EFFECTIVE USE OF THE PREPAID AMOUNTS.

SINGLE PARAGRAPH. THE PROVISIONS IN THIS ARTICLE, IF APPROVED BY THE MEMBERS OF GROUPS CONSTITUTED UNDER THE REGULATION GOVERNED BY PORTARIA NO. 190, OF 27.10.89, MAY BE APPLIED TO SAID GROUPS.

ART. 4. AMEND, FROM 01.08.93, ARTICLE 38 OF THE REGULATION ATTACHED TO CIRCULAR NO. 2,196, OF 30.06.92, AMENDED BY CIRCULAR NO. 2,255, OF 09.12.92, WHICH SHALL ENTER INTO FORCE WITH THE FOLLOWING WORDING:

"ART. 38. THE CONSORTIUM MEMBER MAY DEDUCT THE OUTSTANDING BALANCE OF THEIR INSTALLMENTS IN REVERSE ORDER STARTING FROM THE LAST, IN WHOLE OR IN PART, EXCLUSIVELY:

I - THROUGH A WINNING BID;

II - IN THE EVENT OF USE OF CREDIT DIFFERENCE, AS DEFINED IN ALINÉA "B" OF ITEM II OF ARTICLE 19 OF THIS ATTACHED REGULATION;

III - TO FACILITATE CONTEMPLATIONS, PROVIDED THAT THE CONSORTIUM MEMBER HAS BEEN CONTEMPLATED AND THE VALUE OF THE PREPAYMENTS, ADDED TO THE AVAILABILITIES, IS SUFFICIENT FOR THE ACQUISITION OF ONE OR MORE GOODS SUBJECT TO THE PLAN.

PARAGRAPH 1. PARTICIPANTS IN CONSORTIUM GROUPS REFERENCED IN TRUCKS, BUSES, TRACTORS, ROAD EQUIPMENT, AGRICULTURAL MACHINERY AND EQUIPMENT, AIRCRAFT AND VESSELS MAY PREPAY FUTURE INSTALLMENTS, IN DIRECT OR REVERSE ORDER, PROVIDED THAT, IF THE RESOURCE IS NOT USED FOR CONTEMPLATION IN THE SAME ASSEMBLY IN WHICH THE PREPAYMENT OCCURS, THE CONSORTIUM MEMBER WHO HAS UTILIZED THIS FACULTY SHALL BE OBLIGED TO PAY THE DIFFERENCE BETWEEN THE MONTHLY INSTALLMENT VALUE AND THE PREPAID VALUE PLUS NET FINANCIAL YIELDS, UNTIL THE EFFECTIVE USE OF THE PREPAID AMOUNTS.

PARAGRAPH 2. THE OUTSTANDING BALANCE INCLUDES:

A - FOR PARTICIPANTS IN A CONSORTIUM GROUP LINKED TO THE PRICE OF THE GOOD, THE UNPAID VALUE OF THE INSTALLMENTS AND THE DIFFERENCES IN INSTALLMENTS, AS REFERRED TO, RESPECTIVELY, IN ARTICLE 25 OF THIS ATTACHED REGULATION AND SECTION IV OF THIS CHAPTER, AS WELL AS THE DIFFERENCES REFERRED TO IN PARAGRAPH 1 OF THIS ARTICLE;

B - FOR PARTICIPANTS IN A CONSORTIUM GROUP LINKED TO A PRICE INDEX, THE UNPAID VALUE OF THE INSTALLMENTS, AS REFERRED TO IN ARTICLE 25 OF THIS ATTACHED REGULATION AND PARAGRAPH 1 OF THIS ARTICLE."

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

BRASÍLIA (DF), JULY 15, 1993

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