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Partial Reform of The Regulations of The Workers’ Feeding Law

By means of decree No. 9.386, issued on February 18th, 2013, published on the Official Gazzette No. 40.112, issued on February 18th,2012, was dictated a “Partial Reform of the Regulations of The Workers’ Feeding Law”, in relation to the Specialized Services Companies in the administration and management of the social benefits.

According with the provisions of Article 5 of the Regulation, was reformed in the following terms: (emphasis added it and highlights the new text).

“Specializing Services Companies”
Article 5º: It is known as Specializing Services Companies in the administration and management of social benefits, those whose main social purpose benefits, those whose main social purpose is aimed at ensuring that employers give effect to the benefit established by the Partial Reform of the Regulations of the Workers’ Feeding Law, through any of the rules laid down in Article 4, the, which will provide services for and on behalf of all employers who are required to provide this benefit to their workers. These companies may belong to individuals or legal entities, including cooperative associations.

Such companies may not be engaged in any activities of financial intermediation, credit or speculative, as provided in section 9 of the Workers’ Feeding Law, or any activities other than those provided for in Article 4 °, except in the case of institutions in the public banking sector.
The utilities or benefits obtained by the institutions of the public banking sector product of the presentation of these services, are aimed at the strengthening and sustainability of programs and missions as part of social security.

This reform came into force as of the publication of the decree in the Official Gazette.