Ordinance addresses the publication and disclosure of balance sheets and other corporate actions of closed companies

Instruction directed to corporations with annual gross income of up to BRL 78 million exempts publication of actions in official journals

Published on October 13th by the Ministry of Economy, Ordinance ME No. 12.071 provides for the disclosure of actions of closed companies with annual gross income of up to BRL 78 million. The measure regulates article 294 of the Brazilian Corporation Law.

Therefore, companies that fall within the aforementioned revenue limit must carry out the electronic publication and disclosure of information established by the Corporate Law:

1. On the Balance Sheet Center of the Public System of Digital Bookkeeping – SPED;

2. On their own institutional websites.

In both cases, publications must be electronically signed using a digital certificate.

The ordinance also establishes that fees will not be charged for publications and disclosures on the public channel. Companies are exempt from disclosure in mass-circulation newspapers and official journals.