CVM Instruction No. 317 of October 15, 1999 (Revoked)

FULL TEXT OF CVM INSTRUCTION NO. 317, OF OCTOBER 15, 1999, WITH THE CHANGES INTRODUCED BY CVM INSTRUCTIONS NO. 334/00 AND 342/00.

CVM INSTRUCTION NO. 317, OF OCTOBER 15, 1999.

Provides for the registration with the CVM of "Depositary Receipts" – DRs Programs, for trading abroad.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, and in view of the provisions of art. 18, item II, letter "a", of Law No. 6,385, of December 7, 1976, and of art. 21 of the Regulation Annex V to CMN Resolution No. 1,289, of March 20, 1987, HAS DECIDED to issue the following Instruction:

Art. 1º This Instruction provides for the registration with the Securities and Exchange Commission – CVM of "Depositary Receipts" – DRs Programs, as referred to in the Regulation Annex V to CMN Resolution No. 1,289, of March 20, 1987.

Art. 2º For the registration of DR Programs, representative of shares issued by Brazilian open companies and traded on a stock exchange, which have as their objective the trading on stock exchanges abroad, an agreement between the national and foreign stock exchanges must be concluded.

Art. 2º For the registration of DR Programs, representative of shares issued by Brazilian open companies and traded on a stock exchange, which have as their objective the trading on stock exchanges abroad, an agreement between the national and foreign stock exchanges must be concluded, which must be sent to the CVM.

• Head with wording given by CVM Instruction No. 334, of April 06, 2000.

§1º The agreement referred to in this article must be submitted to the approval of the CVM, prior to its effectiveness, and establish common rules for the simultaneous trading of shares, in the Country, and of DRs, abroad.

§2º The agreement must, mandatorily, contain a provision that determines the suspension of trading of DRs abroad, when the suspension of trading of the corresponding shares in the Country occurs.

• Paragraphs revoked by CVM Instruction No. 334, of April 06, 2000.

Art. 3º The issuance of a deposit certificate abroad is dispensed with, provided that the records of share positions are maintained in an account-keeping system, by the affiliated stock exchange or by the respective clearing and settlement entity.

CVM INSTRUCTION NO. 317, OF OCTOBER 15, 1999
2

Art. 3º
-A. It is the duty of companies that have obtained registration of a DR Program to adopt a minimum period of fifteen days between the first notice of convening and the date of the holding of the assembly, in order to enable non-resident shareholders to attend the same and exercise the right to vote.

• Article added by CVM Instruction No. 342, of July 13, 2000.

Art. 3º-B. For the purposes of the provisions of § 1º of art. 126 of Law No. 6,404, of December 15, 1976, the companies referred to in this Instruction may waive the notarization and recognition of signatures of proxy instruments granted by their shareholders, provided there is a statutory provision to this effect.

• Article added by CVM Instruction No. 342, of July 13, 2000.

Art. 4º The non-compliance with the provisions set forth in this Instruction constitutes a serious offense, for the purposes of § 3o of art. 11 of Law No. 6,385, of December 7, 1976.

Art. 5º This Instruction enters into force on the date of its publication in the Official Gazette of the Union.

Original signed by
FRANCISCO DA COSTA E SILVA
President