LEI Nº 12.404, DE 4 DE MAIO DE 2011. | LEI Nº 12.404, DE 4 DE MAIO DE 2011. — Brazil law | Esheria

LEI Nº 12.404, DE 4 DE MAIO DE 2011.

A União fica autorizada a renegociar operações de crédito firmadas com o BNDES, com decisão sujeita ao Ministro de Estado da Fazenda e com respeito à equivalência econômica.

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Jurisdiction
Brazil
Instrument
Act or statute
Citation
LEI Nº 12.404, DE 4 DE MAIO DE 2011.
Version
Undated source snapshot
Language
pt
Official source
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auditing board composition civil law commercial law company formation company structure concession corporate establishment corporate governance credit operations credit recovery debt remuneration debt restructuring development bank development banking disclosure obligations effective date election employment engineering equalização de juros establishment face value valuation feasibility studies +51 more

Statute overview

About this statute

A União fica autorizada a renegociar operações de crédito firmadas com o BNDES, com decisão sujeita ao Ministro de Estado da Fazenda e com respeito à equivalência econômica. A ETAV será constituída pela assembleia geral de acionistas, convocada pela Procuradoria-Geral da Fazenda Nacional. Contracts for works, services, purchases, and disposals must be preceded by a bidding procedure, as required by the applicable law. A ETAV must be set up as a closed corporation, and the Union must hold at least 50% plus 1 of the registered common shares. When a debt renegotiation between the Union and BNDES is allowed, the renegotiated amounts must carry the same remuneration as the original debt in the listed cases.