CVM Instruction No. 403 of January 30, 2004 (Revoked)

CVM INSTRUCTION NO. 403, OF JANUARY 30, 2004.

Provides for the hiring of third parties for the provision of services, directly by Financial Investment Funds - FIFs; in Funds of Application in Shares of Financial Investment Funds - FAQ-FIF; in Funds of Investment in Foreign Exchange - FIEX, and in Funds of Investment in Securities and Financial Market Instruments - FITVM.

The PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION - CVM makes public that the Collegiate Body, in a meeting held on this date, having regard to the provisions of arts. 2o V and IX, and 19 of Law No. 6.385, of December 7, 1976, resolved to issue the following Instruction:

Art. 1o
The present Instruction provides for the hiring of third parties for the provision of services, directly by Financial Investment Funds - FIFs and in Funds of Application in Shares of Financial Investment Funds - FAQ-FIF, governed by Circular No. 2.616, of September 18, 1995, of the Central Bank of Brazil; in Funds of Investment in Foreign Exchange - FIEX, governed by Circular No. 2.714, of August 28, 1996, of the Central Bank of Brazil, and in Funds of Investment in Securities and Financial Market Instruments - FITVM, governed by CVM Instruction No. 302, of May 5, 1999.

Art. 2o
The administration fee expressed in the regulations of the funds mentioned in art. 1o consists of the sum of the remunerations due by the fund to each of the service providers contracted by the fund, including the administrator itself and the other service providers, such as portfolio management, accounting, and distribution of shares.

§1o
The fund's regulations must stipulate the administration fee to be received by the service providers, including the administrator itself and the services of portfolio management, accounting, and distribution.

§2o
The fund shall pay directly to each service provider the portion of the administration fee due to it, in the manner adjusted in the respective contract signed with each service provider, which must be kept available to the CVM at the administrator's headquarters.

§3o
Any other expenses not provided for as charges of the fund shall be borne by the administering institution.

Art. 3o
The hiring referred to in art. 2o depends on the approval, by a simple majority, of the general meeting of unitholders, convened in the manner provided by BACEN Circles Nos. 2.616/95 and 2.714/96 and CVM Instruction No. 302/99.

Art. 4o
It is the responsibility of the administrator to supervise the services provided by third parties contracted by the fund in accordance with this Instruction.

CVM INSTRUCTION NO. 403, OF JANUARY 30, 2004.
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Art. 5o
This Instruction shall enter into force on the date of its publication in the Official Gazette of the Union, revoking any provisions to the contrary.

Signed original by
LUIZ LEONARDO CANTIDIANO
President