18 JANUARY 2000 DECREE.
Authorizes the company COMINCO BRAZIL Ltd., to establish branch in the Federative Republic of Brazil, and other matters.
The PRESIDENT of the REPUBLIC, in the use of the role that gives the art. 84, section IV, of the Constitution, and in view of the provisions of art. 64 of Decree-Law No. 2,627, 26 September 1940, maintained by art. 300 of law nº 6,404 of December 15, 1976, and in the Process MDIC paragraph 52700-000073/99-30, DECREES: Art. first Is the company COMINCO BRAZIL Ltd., based in Vancouver, British Columbia, Canada, authorized to work in Brazil, through the subsidiary COMINCO BRAZIL Ltd., having as purpose to mining and industry and trade of minerals, having been assigned the capital of 12,500 .00 R$ (12500 reais) for the performance of its operations on the national territory, forcing yourself to comply fully with the laws and regulations in force or that will be in force on the object of the present authorization.
Art. 2 Are established the following obligations: i. the company COMINCO BRAZIL Ltd., is obliged to have a legal representative in Brazil permanently near the COMINCO branch BRAZIL Ltd., with full and unlimited powers to deal with any issues and resolve them, definitely, and may be sued and get initial quotation by the company;
II-all of the acts that practice in Brazil will be subject to the laws and to the Brazilian courts, without, at any time, can the company claim any exception, established in their statutes;
III-the company will not be able to perform in Brazil activities contained in its statutes prohibited foreign companies and will only be able to perform that depend on prior approval of governing body, under the authorised conditions;
IV-will depend on approval from the Brazilian Government any change in the statutes of the company, involving change of conditions and rules set forth in this authorization;
V-published the authorization Act, is the company obliged to provide archiving in the Board of trade of the federative unit where you locate, from the leaves of the Official Gazette and the documents instructed the request this authorization;
I saw the closure of each financial year, shall submit to the Board of trade of the federative unit where you are located, to note in the records, Official Gazette, the State or the Federal District, as the case may be, and of mass circulation newspaper, containing the mandatory publication pursuant to art. 70 of Decree-Law No. 2,627, 26 September 1940, maintained by art. 300 of law nº 6,404 of December 15, 1976;
VII-the infringement of any of the obligations, for which no special penalty is and propriety, be punished, considering the gravity of the fault, with forfeiture of the authorization.
Art. 3 this Decree shall enter into force on the date of your publication.
Brasília, 18 January 2000; 179 of independence and 112 of the Republic.
FERNANDO HENRIQUE CARDOSO Alcides Lopes Tápias