CVM Instruction No. 347 of September 29, 2000 (Revoked)

CVM INSTRUCTION NO. 347, OF SEPTEMBER 29, 2000.

Amends CVM Instruction No. 279, of May 14, 1998, which provides for the constitution, administration, and operation of Mutual Funds for Privatization – FGTS intended for the acquisition of securities, using resources available from the linked account of the Employment Guarantee Fund – FGTS.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Board, in a meeting held on this date, in view of the provisions of Article 19 of Law No. 6,385, of December 7, 1976, and of Resolution of the National Monetary Council No. 1,787, of February 1, 1991,

HAS DECIDED to issue the following Instruction:

Art. 1

Articles 10, 25, 31, and 33 of CVM Instruction No. 279, of May 14, 1998, shall enter into force with the following wording:

“Art. 10 ...

VIII - adopt procedures and controls that ensure adequate segregation between the different functions performed by the Fund administrator and affiliated institutions, especially between investment decisions for the Fund and for treasury operations and the institution administrator’s own portfolio, its affiliates and controlled companies, its controlling shareholder, and companies controlled by the same controlling shareholder.” (NR)

“Art. 25 The Fund’s financial statements, relating to the periods ending on March 31 and September 30, are subject to accounting standards issued by the CVM and shall be audited semi-annually by an independent auditor registered with it.

§1

The opinion of the independent auditor, relating to the financial statements, the report on the analysis of the Fund’s situation, and the administrator’s performance, shall express an opinion on compliance with the standards of this Instruction and the Fund’s regulations.

§2

The financial statements referred to in the caput of this article are mandatory only for funds in operation for more than ninety days.” (NR)

“Art. 31 The administrator shall, within a maximum period of fifteen days after the closing of each semester, make available to any interested party, at its headquarters or premises, information on the Fund’s portfolio composition and the yield earned in the last four semesters.” (NR)

“Art. 33 ...

Sole Paragraph ...

III - yield earned in the last four semesters.” (NR)

Art. 2

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

Signed original by

JOSÉ LUIZ OSORIO DE ALMEIDA FILHO

President