The Workers Party (PT) has submitted ten amendments to the executive order (medida provisória, MP) detailing the rules for foreign investment in media companies, permitted by a recent constitutional amendment. The measure is known as MP 70 in Congress. The first amendment submitted by the PT would add an article giving broadcasters 90 days to file complete documentation of equity ownership as at September 30, 2002 with the Communications Ministry and Social Communication Council. Another amendment would alter article 10, which allows investment by equity funds under Decree 236/67 provided they hold no more than 20%. The amendment would reduce the threshold to 5%, arguing the need to limit the indirect economic power of these investment funds over broadcasters. The PT also wants to strike out article 9, which amends article 12 of Decree 236 so that ownership restrictions apply only to holders of more than 19.9% in other companies.
Another amendment submitted by the PT would add the phrase ?regulatory agency? to clause (i) of article 7 instead of ?competent body of the Executive branch? in requiring broadcasters to file details of their ownership structure with commercial registries and government. The Communications Ministry should perform regulatory functions until a specific regulator is set up for the media industry, according to another amendment. A proposed change to article 3 would require the Communications Ministry to advise Congress and the Social Communication Council of changes in the ownership structure of broadcasters. The text of MP 70 as it stands would require a ?competent body of the Executive branch? to notify Congress, without alluding to the Council. Lastly, the PT submitted an amendment requiring that copies of media companies? declarations of equity ownership be filed with the Council, which would be empowered to approve all changes in equity before advising Congress.