Circular No. 3000 — Amends Articles 10 and 11 of Circular No. 2,981 of 2000 Regarding Information on Corporate Holdings

CIRCULAR N. 003000

Amends Articles 10 and 11 of Circular No. 2,981 of 2000, which provide for the provision of information regarding corporate holdings held by financial institutions and other institutions authorized to operate by the Central Bank of Brazil.

The Collegiate Board of the Central Bank of Brazil, in a session held on August 23, 2000, based on Article 10, item X, of Law No. 4,595 of December 31, 1964, and considering the provisions of Articles 8, 13, and 22 of Resolution No. 2,723 of May 31, 2000,

DECIDED:

Art. 1. Amend Articles 10 and 11 of Circular No. 2,981 of April 28, 2000, which shall henceforth read as follows:

"Art. 10. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must forward to this Autarchy, in the manner and within the timeframe to be established by the DECAD and the Department of Informatics (DEINF), information regarding corporate holdings, direct or indirect, held as of April 3, 2000, covering:

I - all participations:

a) in the country, subject to consolidation in accordance with current regulations;

b) abroad;

II - participations in the country equal to or greater than 10% (ten percent) of the total capital of the invested company, as well as those in which the book value of the investment is equal to or greater than 10% (ten percent) of the participant's equity, adjusted in accordance with current regulations.

Sole Paragraph. The provisions of this article do not apply to participations held by the institutions referred to in the main text in stock exchanges, commodity and futures exchanges, and financial custody and settlement systems for securities, resulting from the acquisition of securities and equity shares and stocks issued by them, as well as to corporate holdings held by the aforementioned entities, directly or indirectly, in the capital of companies."

"Art. 11. Financial institutions and other institutions authorized to operate by the Central Bank of Brazil must also notify the DECAD, within a maximum period of thirty days from the date of occurrence:

I - the acquisition of new corporate holdings, direct or indirect, in the country and abroad that do not require authorization, provided they meet the conditions set forth in the previous article;

II - changes in all corporate holdings subject to notification to the Central Bank of Brazil under the terms of the previous article."

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

Brasília, August 24, 2000

Sérgio Darcy da Silva Alves
Director