Resolution CMN No. 1928 — Updates Minimum Paid-in Capital Limits for Export Trading Companies and Export Consortia of Small Producer Enterprises

RESOLUTION NO. 001928

DISPOSES ON THE UPDATE OF THE MINIMUM PAID-IN CAPITAL LIMITS FOR EXPORT TRADING COMPANIES AND FOR EXPORT TRADING COMPANIES CONSTITUTED FROM EXPORT CONSORTIA OF SMALL PRODUCER ENTERPRISES.

THE CENTRAL BANK OF BRAZIL, IN ACCORDANCE WITH ART. 9 OF LAW NO. 4,595, OF 12.31.64, MAKES PUBLIC THAT THE PRESIDENT OF THE NATIONAL MONETARY COUNCIL, BY ACT OF 05.26.92, BASED ON PARAGRAPH 2 OF ART. 2 OF LAW NO. 8,056, OF 06.28.90, AND LAW NO. 8,392, OF 12.30.91, "AD-REFERENDUM" OF THAT COUNCIL, AND TAKING INTO ACCOUNT THE PROVISIONS OF ART. 4, ITEMS V AND XXXI, OF THE MENTIONED LAW NO. 4,595 AND ART. 2, ITEM III, PARAGRAPH 3 OF DECREE-LAW NO. 1,248, OF 11.29.72,

RESOLVES:

ART. 1. FIX THE MINIMUM PAID-IN CAPITAL LIMIT FOR THE EXPORT TRADING COMPANIES REFERRED TO IN ART. 2, ITEM III, OF DECREE-LAW NO. 1,248, OF 11.29.72, AT A VALUE EQUIVALENT TO 703,380 (SEVEN HUNDRED AND THREE THOUSAND, THREE HUNDRED AND EIGHTY) FISCAL REFERENCE UNITS (UFIR) AND FOR EXPORT TRADING COMPANIES CONSTITUTED FROM EXPORT CONSORTIA OF SMALL PRODUCER ENTERPRISES, AT A VALUE EQUIVALENT TO 67,870 (SIXTY-SEVEN THOUSAND, EIGHT HUNDRED AND SEVENTY) UFIR.

ART. 2. DEFINE FOR THE PURPOSES OF THIS RESOLUTION AS A SMALL ENTERPRISE ANY ENTITY WHOSE GLOBAL REVENUE IN THE LAST FISCAL YEAR HAS NOT EXCEEDED 4,465,813 (FOUR MILLION, FOUR HUNDRED AND SIXTY-FIVE THOUSAND, EIGHT HUNDRED AND THIRTEEN) UFIR, VIGORANT IN THE LAST MONTH OF THE MENTIONED PERIOD.

ART. 3. FOR THE PURPOSE OF REGISTRATION AT THE DEPARTMENT OF FOREIGN TRADE (DECEX) AND THE FEDERAL REVENUE DEPARTMENT (DRF), THE MINIMUM LIMITS ESTABLISHED IN ART. 1 OF THIS RESOLUTION MUST BE PAID-IN, ALWAYS TAKING AS A BASIS THE MONETARY EXPRESSION OF THE MONTHLY UFIR FIXED FOR THE MONTH OF APRIL IMMEDIATELY PRECEDING THE DATE OF REGISTRATION.

ART. 4. IN THE CASE OF ALREADY REGISTERED COMPANIES, ADAPTATION TO THE PROVISIONS OF ART. 1 OF THIS RESOLUTION MUST BE MADE THROUGH COMPLIANCE WITH THE FOLLOWING SCHEME OF REALIZATION:

I - BY 06.30.92, THE MINIMUM CAPITAL FOR EXPORT TRADING COMPANIES MUST HAVE REACHED A VALUE EQUIVALENT TO 351,690 (THREE HUNDRED AND FIFTY-ONE THOUSAND, SIX HUNDRED AND NINETY) UFIR AND FOR EXPORT TRADING COMPANIES CONSTITUTED FROM EXPORT CONSORTIA OF SMALL PRODUCER ENTERPRISES, A VALUE EQUIVALENT TO 33,935 (THIRTY-THREE THOUSAND, NINE HUNDRED AND THIRTY-FIVE) UFIR, VIGORANT IN THE MONTH OF APRIL 1992.

II - BY 06.30.93, THE MINIMUM CAPITAL FOR EXPORT TRADING COMPANIES MUST HAVE REACHED A VALUE EQUIVALENT TO 703,380 (SEVEN HUNDRED AND THREE THOUSAND, THREE HUNDRED AND EIGHTY) UFIR AND FOR EXPORT TRADING COMPANIES CONSTITUTED FROM EXPORT CONSORTIA OF SMALL PRODUCER ENTERPRISES, A VALUE EQUIVALENT TO 67,870 (SIXTY-SEVEN THOUSAND, EIGHT HUNDRED AND SEVENTY) UFIR VIGORANT IN THE MONTH OF APRIL 1993.

ART. 5. ESTABLISH THAT THE MINIMUM CAPITAL REFERRED TO IN ART. 1 OF THIS RESOLUTION WILL BE UPDATED ON JUNE 30 OF EACH YEAR, TAKING AS A BASIS THE MONETARY EXPRESSION OF THE UFIR FIXED FOR THE MONTH OF APRIL IMMEDIATELY PRECEDING.

ART. 6. IN THE CASE OF ALREADY REGISTERED COMPANIES, THE PROVISIONS OF THE PREVIOUS ARTICLE WILL BE APPLIED AFTER THE MINIMUM LIMIT NOW ESTABLISHED HAS BEEN REACHED, IN ACCORDANCE WITH ART. 4 OF THIS RESOLUTION.

ART. 7. DETERMINE THAT FAILURE TO COMPLY WITH THE PROVISIONS CONTAINED IN ARTS. 5 AND 6 OF THIS RESOLUTION WILL RESULT IN THE CANCELLATION OF REGISTRATION OF EXPORT TRADING COMPANIES WITH DECEX AND DRF.

ART. 8. THIS RESOLUTION ENTERS INTO FORCE ON THE DATE OF ITS PUBLICATION.

ART. 9. REVOKE RESOLUTIONS NOS. 689, OF 04.29.81, AND 906, OF 04.05.84.

BRASILIA (DF), MAY 26, 1992

FRANCISCO ROBERTO ANDRÉ GROS
PRESIDENT