CVM Instruction No. 269 of December 1, 1997

CVM INSTRUCTION NO. 269, OF DECEMBER 1, 1997.

Amends CVM Instruction No. 247, of March 27, 1996, which provides for the evaluation of investments in affiliated and controlled companies and for the procedures for the preparation and disclosure of consolidated financial statements.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on November 28, 1997, based on the provisions of item "c" of paragraph III of Article 248 and the sole paragraph of Article 249 of Law No. 6,404, of December 15, 1976,

HAS DECIDED TO ISSUE THE FOLLOWING INSTRUCTION:

Art. 1. Paragraph 1 of Article 23 of CVM Instruction No. 247/96 shall be effective with the following wording:

"Art. 23 ...
...
§1. The Securities and Exchange Commission may, in special cases and upon prior request, authorize the exclusion of one or more controlled companies from the consolidated financial statements."

Art. 2. This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by
JOÃO LAUDO DE CAMARGO
Acting President