Joint Decision MINC/CVM No. 5 of December 27, 1999

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JOINT DECISION MINC/CVM No. 5, OF DECEMBER 27, 1999 Provides for provisional registration for distribution to the public of investment certificates for the production, distribution, exhibition, and technical infrastructure of Brazilian audiovisual cinematic works and the release of captured resources.

The MINISTER OF CULTURE and the SECURITIES AND EXCHANGE COMMISSION, based on the provisions of Law No. 6,385, of December 7, 1976, and based on Article 1 of Law No. 8,685, of July 20, 1993, and Article 2 of Decree No. 974, of November 8, 1993, DECIDE:

Article 1 Authorize the granting of provisional registration for the distribution of Investment Certificates for the production, distribution, exhibition, and technical infrastructure of Brazilian audiovisual cinematic works, regarding applications received by the CVM until the last business day of the 1999 fiscal year.

Article 2 The granting of definitive registration shall comply with the conditions and deadlines set forth in CVM Instruction No. 260, of April 9, 1997.
Sole Paragraph. Requests for extension of distribution periods and requests for modifications regarding already granted registrations follow the main text of this article.

Article 3 Amounts intended for the payment of financial intermediation cannot be deducted until the granting of definitive registration.

Article 4 The resources captured as a result of the acquisition of investment certificates for the production, distribution, exhibition, and technical infrastructure of Brazilian audiovisual cinematic works, through the provisional registration referred to in Article 1, shall only be released by Banco do Brasil S/A after the granting of the definitive registration mentioned in Article 2.

Article 5 This Joint Decision enters into force on the date of its publication.

FRANCISCO CORRÊA WEFFORT
Minister of Culture
WLADIMIR CASTELO BRANCO CASTRO
Acting President,
Securities and Exchange Commission