Amec repudiates the Congress’ attempt to ease the SOEs Law

On August 8, Amec published a notice to the market in which it classifies the proposal to amend the Law 13,303 (the SOEs Laws) as a mistaken decision regarding the possibility of allowing the election of party leaders and other political agents to the governance boards of state-owned enterprises. “Instead of going back to a time characterized by indiscriminate political nominations, our members think it is essential to continue to improve the SOEs’ governance practices based on OECD’s principles,” the notice says.
The declaration is an answer to the move in the House of Representatives that, in July, started a gambit to ease the political shielding of the SOEs Law. During the debate over the Bill 6,621, which provides for a new regulatory framework for regulation agencies and had, in its original version, passages of the SOEs law regarding the ban on the participation of politicians, the federal deputies made an about-turn: they proposed and approved an amendment that eliminates the ban on the participation of politicians in SOEs. The matter is now being analyzed in the National Congress.
The notice to the market is available here.
Click here to follow the debates over the Bill 6,621.