CVM Instruction 253 (Repealed)

CVM INSTRUCTION NO. 253, OF AUGUST 14, 1996.
Expands the concept of emerging company and reduces the quota value of the Funds governed by CVM Instruction No. 209, of March 25, 1994.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, and in view of the provisions of Resolution No. 1,787, of February 1, 1991, of the National Monetary Council and Article 19 of Law No. 6,385, of December 7, 1976,

RESOLVED:

Art. 1st Alter paragraphs one and three of Article 1st, as well as paragraph three of Article 3rd, of CVM Instruction No. 209, of March 25, 1994, which shall now be in effect with the following wording:

"Art. 1st -......
§1st An emerging company is understood to be a corporation that presents annual net revenue, or consolidated annual net revenue, lower than R$ 60,000,000.00 (sixty million reais), calculated in the balance sheet closing the exercise prior to the acquisition of the securities of its issuance.
......
§3rd It is prohibited for the Fund to invest in a society that is part of a group of societies, de facto or de jure, whose consolidated net equity is higher than R$ 120,000,000.00 (one hundred and twenty million reais).
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Art. 3rd ......
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§3rd Only the issuance of quotas with a value equal to or higher than R$ 10,000.00 (ten thousand reais) will be permitted."

Art. 2nd This Instruction shall enter into force on the date of its publication in the Official Gazette of the Union, with CVM Instruction No. 246, of March 18, 1996, being repealed.

Original signed by
FRANCISCO AUGUSTO DA COSTA E SILVA
President