REGARDING:
Article 10 of the The Mercosul Agreement, the decisions No. 08/93 and 09/93 of the Common Market Council (CMC).
That the existance of a harmonized securities market
makes viable important projects to the achievement of the purposes
that steered the creation of The Common Market of the South -
Mercosul;
That the integration process requires harmonized
disclosure rules of information by the capital demanding coorporations,
being companies or investment funds;
The issue of the attached document to the "Minimum
Proposal for the Capital Markets Regulation".
THE COMMON MARKET COUNCIL DECIDES
To approve the attached document to the "Minimum
Proposal for the Capital Markets Regulation", attached to
this Decision.
WORK GROUP IV DOCUMENT - CAPITAL MARKETS
ATTACHED DOCUMENT TO THE "MINIMUM PROPOSAL FOR
THE CAPITAL MARKETS REGULATION" STATED IN THE DECISION No.
8/93 of the CMC.
1.- ACCOUNTING INFORMATION PRESENTATION
1.1.- ACCOUNTING PRINCIPLES
The Financial Statements presetation shall be done
in accordance with the principles of the company's host country,
in such way that these statements are compared to the previous
period's statement.
1.2.- MINIMUM ACCOUNTING INFORMATION TO BE PRESENTED
1.2.1.- Information to be presented yearly
The Annual Financial Statements and the Consolidated
Financial Statements shall be presented with the independent auditor's
report.
1.2.2.- Information to be presented quaterly
- Balance Sheet
- Statement of Income.
- Financial Statements Notes
The quaterly Financial Statements shall be presented
with the external independent auditor's report or Limited Review.
In Argentina, the Statement of Change in Financial
Position and the Statement of Stockholder's Equity will also be
required for listing purposes.
1.2.3.- Material effects of the accounting diferences
Material effects stemming from accounting diferences
will be detailed and quantified, in respect to its impact in the
income and in the net worth, in specific notes.
1.3.- ACCOUTING PERIOD'S CLOSING
The accountig period's closing will be in accordance
with the company host country rules.
2.- INVESTMENT FUNDS
The agreement stated in item 2 of the Cologne Agreement,
which refers to the capital market regulation, is hereby ratified,
with the following addition:
MATERIAL EVENTS
The extraordinary events, that may significantly
influence the quotation and/or the issue of shares or the investor's
decision in purchase or trade them, shall be disclosed by the
managing companies immediately, in the countries that these shares
are purchased or traded.
CONSIDERING: