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  • 3.

    Whenever the management company intends to replace the actuary responsible for a pension fund, it shall inform AMCM at least thirty days prior to the date on which the new actuary will commence his duties.

  • 4.

    The conditions to be met by the actuary responsible for a pension fund shall be defined by notice of AMCM.

Article 35 (Composition of assets)

  • 1.

    The nature of the assets that make up the patrimony of pension funds and their respective percentage limits, including the general principles of congruence and valuation of these assets, shall be established by notice of AMCM.

  • 2.

    While constituting the patrimony of pension funds, management companies shall take into account the kind of liabilities they are required to finance, in order to guarantee the security, income and liquidity of the respective investments and ensure prudent diversification and distribution of such applications.

3. The valuation criteria for assets shall be defined by notice of AMCM.

CHAPTER V MANAGEMENT AND DEPOSIT OF PENSION FUNDS

Section I Management

Article 36 (Management companies)

1. The management company shall engage in all acts on behalf of and for the common account of the associates, participants, contributors and beneficiaries and, as the administrator of the fund and its legal

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