The National Land Transport Agency (ANTT) adopted new provisions on contract recomposition and corporate governance, applicable to federal highway infrastructure concessionaries. They are designed to improve legal security and predictability.

Resolution n. 5.940/2021 from the National Land Transport Agency (ANTT) enacted new contract recomposition rules for federal highway infrastructure concessionaries, aimed at improving the current recomposition conditions and introducing provisions on corporate governance.

The new resolution amended the rules from ANTT Resolution n. 3.651/2011 (article 2) and ANTT Resolution n. 5.859/2019 (article 3), defining different recomposition conditions that apply depending on total project value (undergoing recomposition) or the concessionary’s affected yearly revenue.

Furthermore, article 4 provided that federal highway infrastructure concessionaries must adopt specific corporate governance mechanisms, in accordance with Brazilian best practices. As stated in article 5, the concessionaries must comply in a one-year adaptation period, until June 1st, 2022.

The new resolution is the result of Public Audience n. 7/2020, reported in the 18th edition of the Regulatory Report. Public contributions and more information can be found at the consultation’s website.