Joint Decision CVM/SPC No. 06 of June 20, 1998

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JOINT DECISION CVM/SPC No. 06, OF JUNE 20, 1998 SECURITIES AND EXCHANGE COMMISSION SECRETARIAT OF COMPLEMENTARY PENSION

Amends Joint Decision CVM/SPC No. 05, of June 9, 1998, which establishes conditions for investment in mutual investment funds in stocks – free portfolio, constituted in the form of closed-end condominiums, with minimum durations of determined term and composed of stocks of second-line or lower liquidity, by closed private pension entities – EFPP.

The Board of the Securities and Exchange Commission – CVM and the Secretary of the Secretariat of Complementary Pension - SPC, of the Ministry of Social Security and Assistance, having in view the provisions of Resolution No. 2,467, of February 19, 1998, of the National Monetary Council – CMN, DECIDE:

Art. 1st - Amend Article 3 of Joint Decision CVM/SPC No. 05, of June 9, 1998, which shall enter into force with the following wording:

"Art. 3rd - At the time of each subscription of quotas in stocks, the EFPP must attach to the subscription form:
I – a declaration that its position in said stocks does not infringe the limits set forth in the regulations applicable to it or, alternatively, that the EFPP has a schedule for compliance of investments in said stocks, which is in force on the date of subscription of the quotas, formally approved by the Secretariat of Complementary Pension of the Ministry of Social Security and Assistance or by the Complementary Pension Management Council – CGPC or possesses an exception through a decision emanating from the CMN, in the form of Art. 40 § 2nd of Law 6.435/77. For all legal purposes, the compliance period originally granted to the entity remains unchanged; and II - a declaration that its position in said stocks respects the prohibition set forth in Art. 2nd of this Joint Decision."

Art. 2nd - This Joint Decision enters into force on the date of its publication in the Official Gazette of the Union.

FRANCISCO DA COSTA E SILVA
President of the
SECURITIES AND EXCHANGE
COMMISSION

PAULO KLIASS
Secretary of the
SECRETARIAT OF COMPLEMENTARY PENSION