RegAlertRule · BCB · 2 May 2018 · Circular 3893
Circular No. 3.893: Amends Circular No. 3.433/2009 on Consortium Administrators' Articles of Association
Circular No. 3.433 is amended to add art. 20-A, requiring consortium administrators incorporated as limited liability companies to include a clause in their articles of association fixing the term of office of elected administrators at no more than four years, with re-election permitted. Art. 32-A requires administrators whose articles do not comply to amend them by 31 October 2018. The Circular enters into force on the date of its publication.
Circular No. 3.893
The Board of Directors of the Central Bank of Brazil, in a session held on 2 May 2018, based on arts. 6 and 7 of Law No. 11.795, of 8 October 2008,
R E S O L V E S :
Art. 1 Circular No. 3.433, of 3 February 2009, shall now be in force with the following amendments:
“Art. 20-A. The articles of association of consortium administrators that are incorporated in the form of a limited liability company must contain a clause providing that the term of office of the elected administrators shall be for a fixed period, not exceeding four years, and re-election is permitted.” (NR)
“Art. 32-A. The consortium administrator whose articles of association are not in accordance with the provisions of art. 20-A must arrange for their amendment by 31 October 2018.” (NR)
Art. 2 This Circular enters into force on the date of its publication.
Otávio Ribeiro Damaso Director of Regulation
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
- Obligation 2
- Definition / condition 3
- background, boilerplate
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (1)
- Amends
“Art. 1 Circular No. 3.433, of 3 February 2009, shall now be in force with the following amendments:”
More like this from BCB
BCB published 15 documents in the last 30 days. We email you each new one the day it's published.
Source: Banco Central do Brasil — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added