THE MINISTRY FOR ECONOMY AND THE SECURITIES AND EXCHANGE COMMISSION ESTABLISHED NEW PROCEDURES FOR THE PUBLICATION OF BUSINESS ACTS FOR PUBLIC CORPORATIONS AND CLOSED CORPORATIONS
In the wake of Provisional Measure nº 892/2019 which removed the obligation that Public Corporations must publish their corporate acts in newspapers of wide circulation, the ministry for Economy, on September the 30th, issued Normative Act No. 529 which establishes that Closed Corporations may publish their corporate acts free of charge on a website created especially for this purpose in the Digital Public Deed System (“SPED”) (“Normative Act 529”).
Normative Act 529 also establishes that SPED will be responsible for issuing certificates of authenticity to the corporate documents for both Public and Closed Corporations.
As a result, Closed Corporations will only publish their corporate documents on their own websites and on SPED, free of charge.
Due to Normative Act 529 and its new procedures, the government aims to effectively diminish bureaucracy regarding the publication of corporate documents for Closed Corporations.
The Corporate Law Department of Kestener, Granja & Vieira Advogados is available to provide any further information required on this subject.
Fabio Alonso Vieira
Phone.: +55 11 3149-6111
fabio.vieira@kgvlaw.com.br
This article is intended exclusively to provide information and does not contain any opinion, recommendation or legal advice from KGV Advogados in relation to the matters herein addressed. Copyrights are reserved to Kestener, Granja & Vieira Advogados.
