Provisional Measure 892, which exempts the publication of company balance sheets in newspapers, expired on the last day 3rd, because it was not voted in the plenary of the House and Senate.
PM 892 had been published on August 6, with the main purpose of amending article 289 of Law 6,404/1976, the well-known Brazilian Corporate Law, whose main type is the corporation, normally used for the exploration of greater economic size.
Raphael Zaroni, founding partner of Zaroni Advogados, regrets that PM No. 892 was not converted into law within the period provided for by the Constitution. “The provisional measure approves an important issue. And it results in a high reduction in corporate publishing costs and financial statements due to the authorization of electronic publishing. However, without converting the provisional measure into law, the acts should be re-published in widely circulated newspapers and official state or federal district journals, again burdening companies.”