Provisional Measure No. 1,958-33, Of 26 July 2000

Original Language Title: Medida Provisória nº 1.958-33, de 26 de Julho de 2000

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Get a Day Pass for only USD$9.99.
Provisional measure no. 1,958-33, of 26 July 2000.
The credit institution to the Microentrepreneur, alters provisions of us Law 6404 of December 15, 1976, 8029 of 12 April 1990, and 8934, of 18 November 1994, and other matters.
The PRESIDENT of the REPUBLIC, in the use of the role that gives the art. 62 of the Constitution, adopts the following provisional measure, with force of law: Art. 1st is authorized to credit institution to the entrepreneur, which:-I have for exclusive corporate purpose funding to individuals and micro-businesses, with views to the viability of enterprises of professional, commercial or industrial nature, small, equating to financial institutions for the purposes of the legislation in force;
II-will have its Constitution, organisation and operation disciplined by the National Monetary Council;
III-to subject themselves to the supervision of the Central Bank of Brazil;
IV-may use the Institute of chattel mortgage on their credit operations;
V-will be prevented from capturing, in any form, by the public, as well as issuing securities intended for placing and public offer.
Art. 2nd art. 146 and the caput of the art. 294 of law No. 6404 of December 15, 1976, with the amendments introduced by law No. 9457, of 5 May 1997, shall take effect as follows:? Art. 146. Members may be elected directors individuals and members of the Board of Directors being shareholders and directors resident in Brazil, shareholders or not.
(1) the minutes of the general meeting or of the Board meeting to elect directors shall contain the classification of each of the elect and the period of management, be filed in the registry of Commerce and published.
(2) the possession of the resident adviser or domiciled abroad is subject to the Constitution of resident in the country, Prosecutor with powers to receive quote he proposed action based on corporate law, with expiry date coincides with the mandate? (NR)
? Art. 294. The company closed that has fewer than 20 shareholders, with net worth of less than R$ 1,000,000 .00 (one million dollars), can? (NR)
Art. 3rd art. 11 of law No. 8029 of 12 April 1990, introduced by art. 2 of law No. 8154, of 28 December 1990 shall apply plus the following paragraph 2, by changing the current single paragraph to paragraph 1 and with redrafting its heading:? Art. 11.................................................................................................................................... (1) the resources referred to in this article, which will have as primary objective to support the development of micro and small enterprises through projects and programmes aimed at the technical improvement, rationalization, modernization, management training, as well as facilitate access to credit, the capitalization and the strengthening of the secondary market of savings bonds of these companies, will be distributed as follows :........................................................................................................................................................... § 2 the projects or programmes to facilitate access to credit, referred to in the preceding paragraph may be enforced: a) through the disposal of financial investments, in public or private financial agents, to fund the provision of surety or bail credit operations aimed at micro and small enterprises;
b) by applying financial agents financial resources, public or private, Civil society organizations of public interest referred to in law No. 9790 of 23 March 1999, duly registered at the Ministry of Justice, who engage in alternative systems of credit, or credit for exclusive corporate purpose to grant funding to the entrepreneur;
c) by acquisition or payment of shares of participation in mutual funds emerging companies that are at least 50% of its resources to the capitalization of micro and small enterprises as defined in law, especially technological basis and the exporters;
d) for participation in the capital of an entity regulated by the Brazilian Securities Commission (CVM) to stimulate the strengthening of secondary market of savings bonds of micro and small businesses.? (NR)
Art. 4 art. 10, the caput of the art. 11, item II of art. 12 and the item II of art. 37 of law No. 8934, of 18 November 1994, shall take effect as follows:? Art. 10. The Plenary, composed of vowels and their respective alternates, shall be constituted by a minimum of seven and a maximum of twenty three Vowels? (NR)
? Art. 11. The vowels and their respective alternates shall be appointed, in the Federal District, State Minister of development, industry and foreign trade, and in the States, unless otherwise stated, by the Governments of these constituencies, among Brazilians who meet the following conditions: ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ....? (NR)
? Art. 12. ...................................................................................................................................
...........................................................................................................................................................
II-a vowel and respective alternate, representing the Union, by appointment of the Minister of development, industry and foreign trade;
.................................................................................................................................................? (NR)
? Art. 37. ...................................................................................................................................
...........................................................................................................................................................
II-Declaration of the owner or administrator, signed under the penalties of the law, not to be prevented from engaging in trade or mercantile society administration, due to criminal conviction;
.................................................................................................................................................? (NR)
Art. 5 Are convalidados the acts performed on the basis of provisional measure no. 1,958-32, of 26 June 2000.
Art. 6 This provisional measure shall enter into force on the date of its publication.
Brasília, 26 July 2000; 179 of independence and 112 of the Republic.
FERNANDO HENRIQUE CARDOSO, Pedro Malan Alcides Lopes Tápias

Related Laws