Circular No. 2818 — Provisions on Development or Promotion Agencies

CIRCULAR NO. 002818

Provisions on Development or Promotion Agencies.

The Collegiate Board of the Central Bank of Brazil, in a session held on April 23, 1998, based on Articles 1 and 8 of Resolution No. 2,347 of December 20, 1996,

DECIDED:

Art. 1. It is established that the Federative Units interested in obtaining authorization for the establishment of a development or promotion agency, including as a result of a change in corporate purpose that transforms a financial institution into an entity of this kind, must file a request with the Regional Delegation of the Central Bank of Brazil having jurisdiction over the institution, accompanied by the following documents:

I - a copy of the law creating the agency;

II - two (2) authenticated copies of the act of constitution or transformation, including proof of the full integration of the initial capital;

III - a registration form for the elected administrators, in accordance with current regulations.

Art. 2. This Circular enters into force on the date of its publication.

Brasília, April 24, 1998

Sérgio Darcy da Silva Alves
Director