Companies not authorised to carry on foreign-exchange operations

In accordance with the legislation in force (1), foreign-exchange operations can only be carried on by credit institutions whose purpose includes this activity and by duly authorised exchange offices.

However, it has come to the knowledge of Banco de Portugal that some unauthorised entities have carried on such operations, which is an ilicit practice, subject to the penalties provided for by law.

In these circumstances, Banco de Portugal informs the general public that the companies indicated below are not authorised to carry on the above-mentioned operations:

• MONTENEGRO E CHAVES, LDA, in its branch located at Rua do Ouro, 135, Lisbon, or in any other branch;
• any other entities in which FRANCISCO JOSÉ DIAS FRANCO CANAS performs management or administration tasks.

Lisbon, 2 December 2005


(1)

• Article 10 (1) of Decree-Law No. 295/2003 of 21 November.
• Article 1 (1) of Decree-Law No. 3/94 of 11 January.