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Provisional Measure No. 1,994-35, Of 13 January 2000

Original Language Title: Medida Provisória nº 1.994-35, de 13 de Janeiro de 2000

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Provisional Measure No. 1.994-35, of January 13, 2000.

Disposes on the granting of financing linked to the export of national goods or services, and gives other arrangements.

THE PRESIDENT OF THE REPUBLIC, in the use of the assignment that confers it on art. 62 of the Constitution, adopts the following Provisional Measure, with force of law:

Art. 1º In the financing operations with resources of the Special Programming of the Official Credit Offices, linked to the export of goods or national services, the National Treasury will be able to package financial burdens compatible with those practiced in the international market, under the Export Financing Program-PROEX.

Art. 2º In the operations of financing linked to the export of domestic goods or services not covered by the provisions of the previous article, as well as in financing for the production of goods for export, the National Treasury may grant the financier equalization sufficient to make the financial burden compatible with those practiced in the international market.

§ 1º The Executive Power shall set the maximum permissible limits for effect of this article.

§ 2º The provisions in this article also apply to the vincense charges of operations already carried out, in respect of which there are preexisting obligations of the National Treasury in accordance with Resolutions 509, of January 24, 1979, and 1,845, from 1º July 1991, both of the National Monetary Council.

Art. 3º The State Ministers of Finance and Development, Industry and Foreign Trade shall lay down the conditions for the application of the provisions of this Provisional Measure, observed, still, the provisions of the National Monetary Council.

Art. 4º The arts. 1º, 2º and 3º of the Law No. 9,531 of December 10, 1977, go on to invigorate with the following essay:

?Art. 1º It is set up the Guarantee Fund for Promotion of Competitiveness-FGPC, of an accounting nature, linked to the Ministry of Development, Industry and Foreign Trade and managed by the National Economic and Social Development Bank-BNDES, with the purpose of providing resources to ensure the risk of financing operations carried out by BNDES and by the Special Industrial Financing Agency-FINAME or through repasser financial institutions, aimed at:

I-microenterprises and small business enterprises;

II-medium-sized companies that are exporters or manufacturers of inputs integrating the productive process, or assembly and packaging of goods destined for the export.

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§ 2º The Power Executive shall fix, for the purposes of the provisions of this Act, the framing criteria of individual firms and legal persons in the categories of microenterprises, small-sized companies and medium-sized enterprises of which they treat the incisos I and II of the caput of this article. (NR)

Art. 2º The initial heritage of the FGPC will be constituted by:

I-transfer of forty per cent of the resources allocated to the Union by virtue of art. 2º of Law No. 9,526 of December 8, 1997;

II-binding of one billion and five hundred million million nominative preference shares of Brazilian Telecommunications S.A. -TELEBRÁS, which are deposited in the Federal Corporate Debt Amortization Fund-FADPMF, created by Law No. 9,069 of June 29, 1995;

§ 1º Powers, still, be linked to the FGPC, upon preview and express permission of the President of the Republic, other shares owned by the Union, traded on stock exchanges, including those that are deposited in the FADPMF.

§ 2º The value of the shares for the purposes set out in the inciso II of this article will be determined by the average quotation of the last five preachings in which the shares have been traded.

§ 3º The actions linked to the FGPC will be deposited at the National Economic Development Bank and Social-BNDES.

§ 4º Stay the BNDES authorized to divest the shares linked to the FGPC, and shall forward the demonstratives of accountability relating to each divestment to the Court of Auditors of the Union-TCU.

§ 5º The expenses, charges and emoluments related to the divestment of the shares will be taken down from the proceeds of the divestment. (NR)

Art. 3º ......................................................................................................................................

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V-the product of the alienation of the integral shares of your estate;

VI-the dividends and capital remuneration of the shares of which it treats the previous inciso;

VII-other resources intended for the Public Power.

.................................................................................................................................................? (NR)

Art. 5º The art. 5º of Law No. 8,032 of April 12, 1990, passes the vigour with the following essay:

?Art. 5º The special customs arrangement of which it treats the inciso II of the art. 78 of the Decree-Law No. 37 of November 18, 1966, could be applied to the import of raw materials, intermediate products and components intended for manufacturing, in the Country, of machinery and equipment to be supplied in the domestic market, in international bidding, against payment in convertible currency arising from funding granted by international financial institution, from which Brazil participates, or by foreign governmental entity or, still, by the Bank National Economic Development and Social Development-BNDES, with resources picked up abroad.? (NR)

Art. 6º The art. 6º of Law No. 9,449 of March 14, 1997, passes the vigour with the following essay:

?Art. 6º The company that exports product from its manufacture, the one that refers to art. 1º, § 1º, point?h?, by means of company, installed in the Country, of manufacture or assembly of related products in points (?a? a?g? of the same paragraph, may transfer to that company the value of the net export, if the export is made to society of the same economic group to which it belongs to the second or to the society to this affiliate.

Para. single. They consider themselves as a society of the same economic group the controller and its controlled.? (NR)

Art. 7º The art. 76 of Law No. 9,532 of December 10, 1997, passes to the invigorate plus of the following paragraphs:

? § 1º The provisions of the art. 55 does not apply to projects of companies referred to in art. 1º, § 1º, paragraph (h) of Law No. 9,449 of March 14, 1997, the production of which is destined fully for export until December 31, 2002.

§ 2º The Company using the benefit provided for in the preceding paragraph and letting go of exporting the totality of its production within the term there established will be subject to the fine of seventy percent applied on the FOB value of the total imports carried out pursuant to the incisos I and II of the art. 1º of Law No. 9,449, of 1997.? (NR)

Art. 8º Stay suspended, in the period from April 15, 1999 to June 30, 2000, the application of the provisions of the art. 12 of Law No. 9,779, of January 19, 1999.

Art. 9º Ficam convalidated the acts practiced on the basis of the Provisional Measure No. 1.994-34, of December 14, 1999.

Art. 10. This Interim Measure shall come into force on the date of its publication.

Art. 11. It is repealed Law No. 8,187, from 1º to June 1991.

Brasilia, January 13, 2000; 179º of Independence and 112º of the Republic.

Fernando Henrique Cardoso

Pedro Malan

Alcides Lopes Tápias

Martus Tavares