Minas Gerais Trade Board may cancel thousands of registries as of April this year

  • - 02 April, 2012 - News

Minas Gerais Trade Board may cancel thousands of registries as of April this year

(Fernando Di Sabatino G. Lisboa)

Individuals exercising commercial activities and companies that have not registered any corporate document in the Minas Gerais Trade Board (“JUCEMG”) since the beginning of 2002 may be considered by the Board as inactive, having their registry cancelled. The cancelling of the registry implies in the automatic loss of the protection of the corporate name.

This measure is based on article 60 of Federal Law nº 8,934/1994, the Federal Decree nº 1,800 of 30/01/1996 and the Normative Ruling nº 72 of 28/12/1998 of the Trade Board National Department – DNRC.

According to Notice n° 01/2012, issued by JUCEMG, individuals or companies subject to this automatic cancelling on April 16, 2012, shall request, until April 13, 2012, the registry of an “Exploitation Notice”, or a “Temporary Suspension of Activities Notice”, or register all amendments to articles of association and by-laws since 2002, to avoid having their registry cancelled.

It must be noted that this does not exempt individuals and companies from social, tax and other liabilities before the public administration.

In case you need to verify whether your company falls within this new regulation, the Corporate team of Chenut Oliveira Santiago law firm is at your disposal to take all necessary measures.