Post by xyz3600 on Feb 25, 2024 7:06:19 GMT
Provisional Measure 892, published on August 6th by the government in the Official Gazette of the Union , was designed with the aim of simplifying and making the administrative management of public limited companies cheaper, as it is intended that companies can carry out their mandatory publications (balance sheets, notices to shareholders, etc.) via the internet, without the need to publish them in the Official Gazette and other newspapers with large circulation. However, by expressly inserting in the text of the Corporations Law that “ the publications ordered by this Law will be made on the websites of the Securities and Exchange Commission and the entity managing the market where the company's securities are admitted to trading”, and that, “without prejudice to the provisions of the caput, the company or joint stock company will make the publications ordered by this Law available on its website”, said MP can create legal uncertainty especially for privately held joint stock companies, which do not trade securities on the market.
In fact, it is not clear, from the text inserted through the provisional measure, how these societies should publish their publications. To this legal uncertainty is added the fact that the aforementioned MP revoked article which dates back just three months and which dealt with the same matter. It is worth remembering that this article 1 did not even come into force, as this was Middle East Mobile Number List scheduled for . Fortunately, MP 892 establishes that its effects will only begin on the first day of the month following the date of publication of the acts of the CVM and the Ministry of Economy that will regulate and discipline the matter. It is expected, therefore, that these bodies will resolve the legal uncertainty in question and — above all — that the government will wait some time before regulating this matter again.
If this happens, MP 892 — if converted into law — will be welcome, as it will provide greater savings and speed to public limited companies for their publications. However, in the meantime, corporations must continue to observe article 289 of the Corporation Law in its previous wording, which establishes the obligation for publications to be made in the Official Gazette of the Union , the state or the Federal District, and in a newspaper of large circulation of the company's headquarters location.From this understanding, however, it does not follow, directly and automatically, the inference that the values relating to pecuniary obligations fulfilled at a time prior to the decree of liquidation must return to the sphere of resources of the debtor company, in order to integrate the liquidating estate", explained the minister. With information from the STJ Press Office.
In fact, it is not clear, from the text inserted through the provisional measure, how these societies should publish their publications. To this legal uncertainty is added the fact that the aforementioned MP revoked article which dates back just three months and which dealt with the same matter. It is worth remembering that this article 1 did not even come into force, as this was Middle East Mobile Number List scheduled for . Fortunately, MP 892 establishes that its effects will only begin on the first day of the month following the date of publication of the acts of the CVM and the Ministry of Economy that will regulate and discipline the matter. It is expected, therefore, that these bodies will resolve the legal uncertainty in question and — above all — that the government will wait some time before regulating this matter again.
If this happens, MP 892 — if converted into law — will be welcome, as it will provide greater savings and speed to public limited companies for their publications. However, in the meantime, corporations must continue to observe article 289 of the Corporation Law in its previous wording, which establishes the obligation for publications to be made in the Official Gazette of the Union , the state or the Federal District, and in a newspaper of large circulation of the company's headquarters location.From this understanding, however, it does not follow, directly and automatically, the inference that the values relating to pecuniary obligations fulfilled at a time prior to the decree of liquidation must return to the sphere of resources of the debtor company, in order to integrate the liquidating estate", explained the minister. With information from the STJ Press Office.