Post by xyz3800 on Feb 28, 2024 2:28:36 GMT -5
The Senate approved this Wednesday (27/3) a law that exempts closed companies that earn less than R$10 million per year from publishing a notice to call a shareholders' meeting. The vote was symbolic, and the text now goes to presidential approval. According to the approved project, the rules will come into effect from January 1, 2022. The text modifies the Corporate Law and received a favorable opinion from the rapporteur, deputy Covatti Filho (PP-RS). In practice, the law exempts only companies with less than 20 shareholders and net worth of up to R$1 million from publishing documents. The change, according to the rapporteur, reduces costs for closed companies. The senators had already approved the proposal in 2017, but during the analysis in the Chamber, the deputies included an amendment that authorizes publicly-held companies (with shares traded on the stock exchange) to only publish the complete version of the documents they are obliged to disclose on the internet.
The documents include notices for meetings, notices to shareholders and accounting and financial statements. The law currently requires that these documents be published in full in a newspaper with wide circulation and in the official gazette of the state where the company is headquartered. Summarized Form According to the amendment, the corporate acts of these companies will be published in summary form in a mass circulation press in the Exit Mobile Number List location of the company's headquarters and in full on the newspaper's website on the internet, with digital certification of authenticity granted by an accredited authority within the scope of the Brazilian Public Key InfrastructureEach digital certificate differs from the others — delivered to different users in the consumer market — only by the identity of the buyers, with the insertion of name and CPF, which is the very essence of a digital signature.
In other words: the practice of acts prior to commercialization, in order to validate the certification and individualize the user, does not make the product unique. The product is the same, standardized and produced on a large scale, but as its essence is to be used only by the person who acquired it, acts necessary for authentication are carried out, which are characterized as a means to achieve an end'', concluded in the ruling.Illegal Fee Last week, the 3rd panel of the Court decided that the convenience fee for tickets purchased online was illegal in a case involving Ingresso Rápido, filed by a Consumer Protection Association of Rio Grande do Sul. The panel also determined the reimbursement of company's clients since 2008, five years before the case was filed in court. All consumers who can prove payment of the fee, regardless of whether they are part of the association, will be eligible to receive reimbursement after the action is completed.
The documents include notices for meetings, notices to shareholders and accounting and financial statements. The law currently requires that these documents be published in full in a newspaper with wide circulation and in the official gazette of the state where the company is headquartered. Summarized Form According to the amendment, the corporate acts of these companies will be published in summary form in a mass circulation press in the Exit Mobile Number List location of the company's headquarters and in full on the newspaper's website on the internet, with digital certification of authenticity granted by an accredited authority within the scope of the Brazilian Public Key InfrastructureEach digital certificate differs from the others — delivered to different users in the consumer market — only by the identity of the buyers, with the insertion of name and CPF, which is the very essence of a digital signature.
In other words: the practice of acts prior to commercialization, in order to validate the certification and individualize the user, does not make the product unique. The product is the same, standardized and produced on a large scale, but as its essence is to be used only by the person who acquired it, acts necessary for authentication are carried out, which are characterized as a means to achieve an end'', concluded in the ruling.Illegal Fee Last week, the 3rd panel of the Court decided that the convenience fee for tickets purchased online was illegal in a case involving Ingresso Rápido, filed by a Consumer Protection Association of Rio Grande do Sul. The panel also determined the reimbursement of company's clients since 2008, five years before the case was filed in court. All consumers who can prove payment of the fee, regardless of whether they are part of the association, will be eligible to receive reimbursement after the action is completed.