Resolution CMN No. 1778 — Prohibits Authorization to Operate with Consortiums of Automobiles, Pickups, and Utility Vehicles, Constitution of New Groups, and Sale of New and Vacant Quotas

RESOLUTION NO. 001778

PROHIBITS THE GRANTING OF AUTHORIZATION TO OPERATE WITH CONSORTIUMS OF AUTOMOBILES, PICKUPS, AND UTILITY VEHICLES, THE CONSTITUTION OF NEW GROUPS, AND THE SALE OF NEW AND VACANT QUOTAS.

THE CENTRAL BANK OF BRAZIL, IN ACCORDANCE WITH ART. 9 OF LAW NO. 4,595, OF 12.31.64, MAKES PUBLIC THAT THE NATIONAL MONETARY COUNCIL, IN A SESSION HELD ON 12.19.90, TAKING INTO ACCOUNT THE PROVISIONS OF ITEM I OF ART. 9 OF LAW NO. 5,768, OF 12.20.71,

RESOLVES:

ART. 1. PROHIBIT, FOR AN INDETERMINATE PERIOD, THE CONSTITUTION OF NEW GROUPS OF CONSORTIUMS OF AUTOMOBILES, PICKUPS, AND UTILITY VEHICLES, AS WELL AS THE SALE OF NEW AND VACANT QUOTAS.

PARAGRAPH 1. VACANT QUOTAS ARE CONSIDERED THOSE WHICH, WITHIN THE NUMBER OF PARTICIPANTS PROVIDED FOR IN ITEM 14 OF PORTARIAM.F. NO. 190, OF 10.27.89, HAVE NOT BEEN SOLD BY THE DATE OF CONSTITUTION OF THE GROUP UNDER THE CONDITIONS ESTABLISHED IN SUBITEM 10.1 OF THE SAID PORTARIA.

PARAGRAPH 2. THE PROVISIONS OF THIS ARTICLE DO NOT APPLY TO REPLACEMENT QUOTAS RELATING TO WITHDRAWING OR EXCLUDED MEMBERS, WHICH MAY BE SOLD TO THIRD PARTIES, IN ACCORDANCE WITH THE PROVISIONS OF ITEM 55 OF PORTARIAM.F. NO. 190, OF 10.27.89.

PARAGRAPH 3. THE PROHIBITION ON THE SALE OF QUOTAS REFERRED TO IN THIS ARTICLE DOES NOT COVER THE ASSIGNMENT OF RIGHTS BY MEMBERS TO THIRD PARTIES, WITH PRIOR CONSENT OF THE ADMINISTRATOR.

ART. 2. PROHIBIT, FOR AN INDETERMINATE PERIOD, THE GRANTING OF AUTHORIZATION TO OPERATE WITH CONSORTIUMS OF AUTOMOBILES, PICKUPS, AND UTILITY VEHICLES.

ART. 3. THIS RESOLUTION ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

BRASILIA (DF), DECEMBER 19, 1990

IBRAHIM ERIS
PRESIDENT