CVM Instruction No. 292 of October 15, 1998

CVM INSTRUCTION NO. 292, OF OCTOBER 15, 1998.

Amends Articles 7 and 27 of CVM Instruction No. 134, of November 1, 1990.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on this date, in accordance with the provisions of Article 8, item I, of Law No. 6,385, of December 7, 1976, RESOLVED to issue the following Instruction:

Art. 1. Articles 7 and 27 of CVM Instruction No. 134, of November 1, 1990, shall enter into force with the following wording:

“Art. 7. The maturity period of promissory notes, counted from the date of issuance, shall be:
I - thirty days, minimum, and one hundred and eighty days, maximum, when issued by a closed company; II - thirty days, minimum, and three hundred and sixty days, maximum, in the case of issuance by an open company.

§1. On the maturity date, the promissory note must be settled.

§2. The issuer may, with the express consent of the holder, redeem the promissory notes in advance.

§3. The redemption of the promissory note implies the extinction of the instrument, its retention in treasury being prohibited.

§4. Partial redemption must be carried out through lottery or auction, observing the minimum period of this article.

...

Art. 27. The distribution of promissory notes must be concluded within a period of ninety days, for issuance by a closed company, and within a period of one hundred and eighty days, for issuance by an open company, counted from the date of registration approval by the CVM.”

CVM INSTRUCTION NO. 292, OF OCTOBER 15, 1998.
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Art. 2. This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Signed original by
FRANCISCO DA COSTA E SILVA
President