CVM Instruction No. 318 of October 15, 1999

CVM INSTRUCTION NO. 318, OF OCTOBER 15, 1999.

Amends item I of Article 2 of CVM Instruction No. 286, of July 31, 1998, which provides for the alienation of shares owned by public law entities and entities directly or indirectly controlled by the Public Power, and dispenses with the registrations referred to in Articles 19 and 21 of Law No. 6,385, of December 7, 1976, in the cases it specifies.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, in accordance with the provisions of Articles 8, item I; 18, item II, letter "a"; 19, § 5, item I, and 21, § 6, item I, of Law No. 6,385, of December 7, 1976, and Article 17, item II, letter "c", of Law No. 8,666, of June 21, 1993, HAS DECIDED to issue the following Instruction:

Article 1
This Instruction amends item I of Article 2 of CVM Instruction No. 286, of July 31, 1998, which provides for the alienation of shares owned by public law entities and entities directly or indirectly controlled by the Public Power, and dispenses with the registrations referred to in Articles 19 and 21 of Law No. 6,385, of December 7, 1976, in the cases it specifies.

Article 2
The wording of the aforementioned item I shall be as follows:

“Article 2
......
I - The alienation of participation in a publicly held company whose shares are admitted to trading on stock exchanges or in an organized over-the-counter market shall be preceded by a notice published, with a minimum advance notice of two business days, in the daily information bulletin of the institution where the auction will be held, and disseminated via fax or electronic means to other organized stock exchanges or over-the-counter entities;”

Article 3
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