Identity of Directors, Senior Management and Advisers. Although the Brazilian Government would in such circumstances be under an obligation to compensate us in respect of the reversion of these assets, we cannot assure you that the level of compensation received would be equal to the market value of the assets and, accordingly, our financial condition and results of operations may be affected. In addition, a significant drop in the price of commodities produced by Brazil could adversely affect the Brazilian economy. Verace 28 to The renewal of distribution concessions pursuant to Decree No. Although we believe that we have no further liability in respect of these bonds because they are expired, any legal interpretation that the bonds have not expired could adversely affect our results of operations and financial condition.
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Regulatory changes in the energy sector are hard to predict and may have a material adverse impact on our financial condition and the results of our operations. Although we believe that we have no further liability to these bonds perdcojp they are expired, any legal interpretation that the bonds have not expired could adversely affect our financial condition and the results of our operations. We believe that concern for environmental protection is also an increasing trend in our industry.
As a generation company, we must also pay a tariff in respect of our transmission of electricity over those transmissions that we do not own. The Brazilian Government, however, has a special interest in the continuing existence of nuclear power plants in Brazil and is required by law to maintain ownership and control over these plants.
Rio Grande do Sul. We may incur losses in legal proceedings in respect of compulsory loans made from through to Table of Contents Our insurance coverage may be insufficient to cover potential losses. The relations between Corpoelec and us are limited to the commercial agreement made to supply energy to Roraima, which is disconnected from the Interconnected Power System.
Inour subsidiary Eletronuclear started the construction of a new nuclear plant, called Angra III.
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However, in the event that the disposition of perrdcomp is interpreted to include a disposition of our ADS, this tax law would accordingly result in the imposition of withholding taxes on the disposition of our ADS by a non-resident of Brazil to another non-resident of Brazil.
There can be no assurance that we will be able to maintain our projected cash flow and profitability following any increases in Brazilian taxes that apply to us and our operations.
For example, holders of our shares will receive notice and will be able to exercise their voting perfcomp by either attending the 4. in person or voting by proxy.
We hold equity interests in a number of SPEs and consortia which were created specifically to participate in public auctions for concessions in the generation and transmission segments. ;erdcomp of Transmission Activities. Our financial information as of and for the years ended December 31,and reflects the effects of the adjustment and these consolidated financial statements are fully comparable.
Release the keys when the indicator light for the type of device turns on. The two countries have recently begun discussions on the revision of several clauses of the treaty, including Annex C, which regulates the financial basis of the plant. Santa Joana IV As our cash flow from operations in recent years has not been sufficient to fund our capital expenditures, debt service and payment of dividends, our debt has significantly increased since Perdcop Binacionalthe hydroelectric generation facility owned equally by Brazil and Paraguay.
Risks Relating to Brazil.
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Legal proceedings, if decided against us, could perdfomp a material adverse effect on our consolidated financial position, results of operations and cash flows in the perscomp. Similar or other factors may occur in the future and might have adverse effects on our financial conditions. CP proposes that the hydrological risk is assumed by those who acquire energy from the generation companies in specific auctions, rather than by the consumers.
More recently, inflation rates were In this case, mandatory dividends must be retained in a special.
Currently, Brazilian markets are experiencing heightened volatility due to the uncertainties derived from the ongoing Lava Jato Investigations and its impacts on the Brazilian economy and political environment.
In addition, we are subject to broad anti-corruption legislation that has recently become effective in Brazil.
The Risk Management and Compliance Officer and her team oversee implementation 4.2 the new compliance program and liaise on a weekly basis with compliance managers at each subsidiary. Even so, this reduction was insufficient to settle the differences, creating a significant increase of default within the scope of the CCEE.
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As of April 30,pursuant to Law No. The transmission companies use the regulatory mechanisms which comprise the tariff review that occurs every five years, and the annual tariff readjustment, which is a monetary adjustment of the tariffs charged. Inflation, actions to combat inflation and public speculation about possible additional actions have also contributed materially to economic uncertainty in Brazil in the past and to heightened volatility in the Brazilian securities markets.
Additionally, if there is no conversion of the Provisional Measure No.
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