CVM Instruction No. 300 (Repealed)

CVM INSTRUCTION NO. 300, OF FEBRUARY 23, 1999.

Provides for the carrying out of share lending operations by Investment Clubs in the specified case.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Board, in a meeting held on February 11, 1999, in view of the provisions of arts. 4º, items II and III, and 8º of Law No. 6.385, of December 7, 1976, RESOLVED to issue the following Instruction:

Art. 1º In addition to the case provided for in the sole paragraph of art. 7º of CVM Instruction No. 249, of April 11, 1996, Investment Clubs, constituted with the specific purpose of allowing employee participation in the privatization of open companies included in privatization programs, may borrow shares in protection operations of the positions to which they will be entitled after the full payment of the shares offered to employees, up to the limit of these.

Sole paragraph. In the operations in question, the entity maintaining the lending service is responsible for the evaluation of the guarantees offered by the Investment Clubs.

Art. 2º 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