The Provisional Measure No. 1,040 (“Provisional Measure”) was published in the Federal Official Gazette on March 30, 2021 with the purpose to reduce bureaucracy in the Brazilian business environment, changing several aspects relevant to the operation of companies in the country. Among them, the following stand out:

The provisions set forth by the Provisional Measure become effective on this date, except for (i) the provisions regarding foreign trade, that will come into force on the first business day of April; and (ii) the change made within the scope of the overlapping positions of publicly-held companies.

Further, in relation to the deadline for the first call of general meetings in publicly-held companies, on this date, the Brazilian Securities and Exchange Commission (“CVM”) published Resolution no. 25 in order to establish a transition period for the publicly-held companies, which will only need to comply with such 30-day deadline for the first call of general meetings as of May 1st, 2021.

For additional information, contact:

Corporate Team

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