Compulsory Loan Credits
The compulsory loan, created with the purpose of expansion and improvement of the Brazilian Electric Sector, paid by industrial consumption over 2000kwh per month, by means of a compensation on energy bills, through concessionaire distribution companies. The total amount of these contributions, each year starting from 1977, started to form a credit, under book-entry form, nominal and non-transferable, always on January 1st of the following year, identified by CICE (Contributors’ Identification Code of Compulsory Loan).
The credits of Compulsory Loan were corrected according to on-going legislation and bearing interest at 6% per annum plus monetary correction, paid by means of a compensation on energy bills, through concessionaire distribution companies. On credits formed starting from 1988 until 1994, accounts paid from 1987 until 1993, ELETROBRAS is paying 6% per annum interest, through compensation on energy bills. Law N. 7181/87 extended the term for the collection of the compulsory loan until December 31, 1993.
So far, ELETROBRAS made three conversions of compulsory loan credits: the first conversion was approved by the 72nd Extraordinary Shareholders Meeting, dated April 20, 1988, included credits formed in the period of 1978 to 1985, accounts paid from 1977 until 1984; the second conversion was approved by the 82nd Extraordinary Shareholders Meeting, dated April 26, 1990, included credits formed in the period of 1986 to 1987, accounts paid from 1985 to 1986; The third approved by 142nd AGE, included all credits formed after 1988.
The receiving of stocks originated from such convertions depends upon the re-registering of the shareholders at the “Contributors’ Registering System of Eletrobras’ Compulsory Loan”.
Centrais Elétricas Brasileiras S/A – Eletrobras
DFE – Departamento de Gestão dos Créditos do Empréstimo Compulsório
Rua da Quitanda, 196/9º andar – Centro
Edifício Mario Bhering
CEP 20090-070 – Rio de Janeiro/RJ – Brasil
Tel: 55 21 2514-6337, 2514-6339, 2514-6012, 2514-6260
Fax: 55 21 2514-6258
To obtain the shareholding position, it is essential to present a copy (scanned in the case of e-mail) of the following documents:
1 General Taxpayers’ Registry card obtained on Federal Tax Agency website;
2 Simple copy of the Articles of Association or consolidated Bylaws duly registered with the competent Commercial
Board and, as the case may be, last amendment to the Articles of Association or consolidated Bylaws duly
registered with the competent Commercial Board;
3 Final minutes of the General Meeting of Shareholders of directors election’s, if the election occurs in a
separate act from the Articles of Association or Bylaws;
4 Simplified certificate issued by the competent Commercial Board with the issua date within 1 (one) year, which
contains the registration of the current Articles of Association or Bylaws and the elected directors;
5 Power of attorney by public instrument, in case third parties are representing the taxpayer; and
6 List of Contributors’ Identification Code of Compulsory Loan – CICE – related to the taxpayer , which may be
provided by the distribution company that supplied electricity to the contributing company.