Legal Letter - July 2009

Brazilian Securities Commission (CVM) renders a landmark decision on tender offer requirement in case of sale of de facto control
Brazilian securities market players have long struggled over the interpretation of article 254-A of Law 6,404 of 1976 (the Corporation Law).<<read more>> 

Amnesty for illegal immigrants in Brazil
Law 11,961 was enacted on July 2, 2009, allowing illegal immigrants who entered Brazil until February 1, 2009 to apply for provisional residency. This ‘Migration Amnesty Law' does not apply to foreigners who were expelled from Brazil or are viewed as dangerous or unwelcome.<<read more>>

Agreement on jurisdictional cooperation and assistance in civil, trade, labor and administrative matters among Mercosur member countries, Bolivia and Chile
On July 2, 2009, President Lula issued Decree 6,891 enacting the Agreement on Jurisdictional Cooperation and Assistance in Civil, Trade, Labor and Administrative Matters.<<read more>>

Labor conditions of Brazilian expatriate employees
On July 3, 2009, President Lula da Silva sanctioned Law 11,962, amending article 1 of Law 7,064 of 1982 to cover the labor condition of workers hired in Brazil or those transferred by their employees to provide services abroad.<<read more>>

New types and characteristics of private health plans
The National Private Health Agency (ANS) issued Normative Resolution 195 on July 14, 2009, describing the new types and characteristics of private health plans available in the Brazilian market.<<read more>>

Using the corporate income tax to sponsor sports activities in Brazil
On July 3, 2009, the Minister of Sports issued Ordinance 120 to amend the Sports Tax Incentive Law (Law 11,438 of December 2006), allowing individuals or legal entities to earmark a portion of their income tax payments to sponsor a "sports project" in Brazil.<<read more>>

Proposed rule on private port terminals is open for public consultation
The National Waterway Transportation Agency (ANTAQ) issued Resolution 1,401 on July 16, 2009, opening for public comment and consultation its proposed rule on licenses to build, operate and expand private port terminals.<<read more>>