Resolution CMN No. 3031 — Establishes Deadlines and Financial Charges within the Program for the Revitalization of Agricultural Production Cooperatives Recoop

RESOLUTION NO. 3031

Establishes deadlines and financial charges within the scope of the Program for the Revitalization of Agricultural Production Cooperatives - Recoop.

THE CENTRAL BANK OF BRAZIL, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the MONETARY COUNCIL NATIONAL, in an extraordinary session held on October 29, 2002, considering the provisions of Article 4, item VI, of the aforementioned law, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, and Articles 6 and 12 of Law No. 10,437 of April 25, 2002,

RESOLVES:

Article 1. Establish that the reduction of charges referred to in Article 1 of Resolution No. 2,681 of December 21, 1999, with the wording given by Resolution No. 2,964 of May 28, 2002, applies to previously agreed operations, through an addendum to the credit instrument, which must be formalized by March 31, 2003.

Sole Paragraph. The new financial charges shall be effective from the date of formalization of the addendum to the credit instrument, except when the borrower demonstrates interest in said charges being retroactive to April 26, 2002, the date of publication of Law No. 10,437 of April 25, 2002.

Article 2. This resolution enters into force on the date of its publication.

Article 3. Article 2 of Resolution No. 2,964 of May 28, 2002, is hereby revoked.

Brasília, October 29, 2002

Arminio Fraga Neto
President