CVM INSTRUCTION NO. 418, OF APRIL 19, 2005.

Amends CVM Instruction No. 205, of January 14, 1994.

THE PRESIDENT OF THE SECURITIES AND EXCHANGE COMMISSION – CVM makes public that the Collegiate Board, in a meeting held on April 12, 2005, in view of the provisions of Law No. 6,385, of December 7, 1976, and based on Article 4 of Law No. 8,668, of June 25, 1993, resolved to issue the following Instruction:

Art. 1

The caput of Article 11 of CVM Instruction No. 205, of January 14, 1994, shall be effective with the following wording:

“Art. 11. The administration of the Real Estate Investment Fund is the exclusive responsibility of commercial banks, multiple banks with investment or real estate credit portfolios, investment banks, securities brokers or securities distribution companies, real estate credit societies, and savings banks.” (NR)

Art. 2

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

Signed original by

MARCELO FERNANDEZ TRINDADE
President