Circular No. 2.444

CIRCULAR N. 002444 ------------------ Regulates the return, in the Clearing Service for Checks and Other Instruments (SCCOP), of checks with a value greater than R$100.00 (one hundred reais), without the identification of the beneficiary. The Board of the Central Bank of Brazil, based on Art. 46 of Provisional Measure No. 542, of 30.06.94, and on Art. 1 of Resolution No. 2.090, of 06.07.94, D E C I D E D: Art. 1 Checks with a value greater than R$100.00 (one hundred reais), issued without the identification of the beneficiary, if forwarded to the Clearing Service for Checks and Other Instruments, must be returned, at any time, for the reason "48 - check issued without the identification of the beneficiary - above the established value". Sole paragraph. The representation of the checks referred to in the "caput" of this article shall be permitted, provided that the legal requirement of identification of the beneficiary is met. Art. 2 To checks issued in cruzeiros reais without the identification of the beneficiary, by their equivalence in reais, the provisions of the previous article apply, until the date admitted for their transit in that Service. Art. 3 This Circular enters into force on the date of its publication. Art. 4 Circular No. 1.775, of 12.07.90, is revoked, and subitem "a" of item I of the initial paragraph of Letter-Circular No. 2.153, of 05.03.91, is derogated. Brasília, 06 July 1994 Alkimar Ribeiro Moura Director of Monetary Policy