It was approved the Decree-Law No. 77/2017, of 30 June, which establishes alternative forms of leverage of private investment and for stimulating the capital market, as recommended by the Capitalizar Program, approved by the Resolution of the Council of Ministers No. 42/2016, of 18 August.
In such sense, a subtype of a securities investment company was created, called Securities Investment Companies for the promotion of economics (“Sociedades de Investimento Mobiliário para fomento da economia” – SIMFE). These companies are an investment vehicle whose purpose is to support this business fabric, either directly - through participation in vehicle companies - or indirectly, through participation in the companies financed.
This diploma also revises and updates the system of securities of a monetary nature representing debt, creating a new type: short-term debt certificates.
According to the preamble of the Decree-Law, this measure "achieves a double purpose: on the one hand, the range of debt securities is expanded, which broadens the choices of issuers and encourages the dynamics of the debt market national; on the other hand, typical characteristics are imposed on this new security that make it eligible for investment by collective investment undertakings in securities".
This Decree-Law will enter into force on 1 July 2017.