Provisional Measure No. 892

GTLawyers

 

The Provisional Measure No. 892 (“PM 892”) was published on August 6th, 2019 by the Government, which alters the writing of the article 289 of Law No. 6.404/1976 (“Corporation Law”) that established the legal obligation of the companies to publish the financial statements on the Official Federal Journal and other newspaper of wide circulation. The PM 892 has reduced bureaucracy and the obligation has become less costly, considering that these publications can be done on the companies’ official website, through Securities Commission (CVM) and through the market administration entity, in which the company’s securities have been in negotiation.

 

Note that a Provisional Measure has a term of 60 (sixty) days extendable for more 60 (sixty) days, which to become definitely an ordinary law, it must be discussed by the chambers of the Brazilian Congress.

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