CVM Instruction No. 233 of February 24, 1995

CVM INSTRUCTION NO. 233, OF FEBRUARY 24, 1995

Amends CVM Instruction No. 215, of June 8, 1994, which provides for the constitution, operation, and administration of Equity Mutual Investment Funds, Free Portfolio Equity Investment Funds, and Investment Funds in Quotas of Equity Mutual Investment Funds

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

HAS RESOLVED:

Art. 1. Include a subsection XIII in Article 3 of Instruction No. 215, of June 8, 1994, with the following wording:

“XIII - characterization of the target audience for fund shareholders, considering that, in the absence of regulations, it is intended for the general public, without any restriction.”

Art. 2. Amend Article 49 of CVM Instruction No. 215, of June 8, 1994, which shall enter into force with the following wording:

“Art. 49. The FMIA - CL shall maintain, in minimum, 51% (fifty-one percent) of its investments in:
I - shares, subscription bonuses, or debentures convertible into shares, issued by open companies; II - shares issued by companies headquartered in countries signatory to the Treaty of Asunción (MERCOSUR) or deposit certificates of such shares admitted to public trading on the Brazilian securities market. III - positions in organized markets for future settlement involving contracts referenced in shares or share indices.”

Art. 3. The first paragraph of Article 49 of CVM Instruction No. 215, of June 8, 1994, is hereby repealed, and the second paragraph of that article shall become the sole paragraph.

CVM INSTRUCTION NO. 233, OF FEBRUARY 24, 1995
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Art. 4. Amend the first paragraph of Article 52 of Instruction No. 215, of June 8, 1994, which shall enter into force with the following wording:

“§1. Every shareholder entering the Fund must attest, in writing, that they are aware of the degree of risk of the investment, the possibility of occurrence of negative equity, if applicable, as well as any responsibility for consequent additional contributions of resources.”

Art. 5. Extend the period referred to in Article 64 of CVM Instruction No. 215, of June 8, 1994, with the wording given by CVM Instruction No. 228, of December 23, 1994, requiring funds in operation to adapt their Regulations by May 30, 1995.

Art. 6. This Instruction shall enter into force on the date of its publication in the Official Gazette of the Union.

Original signed by
THOMÁS TOSTA DE SÁ
President