CVM Instruction 428 (Repealed)

CVM INSTRUCTION NO. 428, OF FEBRUARY 6, 2006.

Amends CVM Instruction No. 67, of June 25, 1987.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Board, in a meeting held on January 31, 2006, based on Art. 1 and the sole paragraph of Art. 2 of the Regulation Annexed to Resolution No. 1,289, of March 20, 1987, of the National Monetary Council, resolved to issue the following Instruction:

Art. 1
The entity that maintains, in the Country, a portfolio of securities constituted and administered in accordance with the provisions of Annex III to Resolution No. 1,289, of March 20, 1987, of the National Monetary Council, may be constituted in the form of an open or closed investment fund, or in an equivalent form, in accordance with the applicable norms of its country of origin.

Art. 2
Arts. 1 and 2 of CVM Instruction No. 67, of June 25, 1987, shall enter into force with the following wording:

“Art. 1
......
......
II – the resources of the entity to be invested in the Country must be raised abroad, through public or private distribution of shares or certificates representing its capital or equity; ......” (NR)

“Art. 2
The interested party must forward its project through a formal document to the Securities and Exchange Commission, which must be accompanied by the necessary elements to prove compliance with the preconditions established in Art. 1, and indicate the deadline provided for the constitution of the entity, which may be open or closed.” (NR)

Art. 3
Items III and IV, and items “a” and “b” of item V of Art. 1, and items I and II of Art. 2 of CVM Instruction No. 67, of June 25, 1987, are repealed.

Art. 4
This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by

WLADIMIR CASTELO BRANCO CASTRO
Acting President