The Chamber reviews the Provisional Measure 488/10, which authorizes the Union to establish the Empresa Brasileira de Legado Esportivo S.A.- the "Brasil 2016”. Bound to the Ministry of Sport, the new company will have headquarter and jurisdiction in the municipality of Rio de Janeiro, and may hold offices in other units of the Federation, to achieve its corporate purpose.
It will have its joint stock represented by common shares, fully under the ownership of the Union. The integration of the capital will be carried out with funds from the Budget. The company will consist of a general meeting of shareholders to be convened by the National Treasury General Attorney's Office.
The Brasil 2016 will be designed to provide services to the direct and indirect public administration of the Union, States, Federal District and Municipalities, and Olympic Public Authority(APO) for preparation and review of studies and proposals, and construction and services in the Olympic projects’ portfolio.

Skills
According to Provisional Measure, new company shall:
- conduct studies necessary to develop: a) plans and proposals related to investments in infrastructure and the provision of public services; and b) planning and managing the proposed allocation and use of the legacy of the Olympic and Paralympic Games in 2016, based on criteria of economic, social and environmental sustainability;
- conduct intensive monitoring of projects;
- prepare or review studies of economic and financial feasibility, terms of reference, basic projects, executive projects, competitive bidding documents, contracts and other documents related to projects listed in Olympic Projects’ Portfolio;
- monitor and supervise the implementation of agreements signed between the Union, the state and the municipality of Rio de Janeiro, and the APO;
- sign contracts, agreements or terms of a partnership aimed at the execution of works and engineering services, acquisition of machinery and equipment, and services for operation and maintenance of infrastructure, and
- promote sale of assets associated with the sporting legacy (all facilities, including for media and accommodation of the delegations and referees).
Resources
The Brasil 2016 may hire service providers and will be subject to special legal regime of private companies, including civil, commercial, labor and tax rights and obligations.
The company’s resources are:
- revenue arising from: a) services provision, especially consulting, advisory and management of contracts and agreements; b) budget allocations of the Union and legal entity of public law procedure; c) the operation of own or third parties rights, resulting in its bylaws; d) income from application and other financial assets belonging to the patrimony under its administration, and e) sale of assets or equipment inoperable;
- resources from agreements, conventions or contracts to perform with national and international, public or private entities;
- donations, bequests, grants, inheritances and other resources which are intended for individuals or legal entities of public or private law, and
- resources from other sources.

Services provision
The commercial relationship between Brasil 2016 and the bodies and entities of direct and indirect administration of the Union, the state and the municipality of Rio de Janeiro, and with the APO will be given through service contracts.

The company is headed by a board of directors, elected by the general meeting and an executive board, chosen from among persons of unblemished reputation and proven competence, elected and dismissed by the board.

The composition, operation, functions and term of office shall be determined by the future status of the company. The Brasil 2016 will have a supervisory board with members elected annually by the general meeting, reelection is allowed. The legal staff regime will be the Consolidation of Labor Laws (CLT) and its complementary law. The hiring of personnel will be by public contest by using tests or tests and title.

Reporting - Luiz Claudio Pinheiro
Edition - Newton Araújo
Translation - Grupo Solucion-SP Language/Suzana Pinheiro Lara