Regulation of the Kingdom’s Business Centers and the Brokerage Corporation
The Decree of 16th January allowed and enforced the Regulation for Commercial Squares of the Kingdom and the Regulation of the Brokerage’s Corporation.
In the Regulation of Trade Places, regarding insurance, we can read in article 11 that “…the annual payment of 36,000 réis, which will be paid in Lisbon Square by any insurance company, that wants to occupy a reserved place inside the house called Insurance, and of 20,000 réis that will be paid by those who want to occupy any of the dressing rooms in Square, or Brokers, or Notary who occupies them…”.
In article 13 and following we can also read that the Insurance’s House continues occupied by insurance companies and that they had a reserved place in the Square, and for this they had to inscribe their names in front of their seats.
The Regulations of the Brokerage Corporations, in turn, fixed the number of brokers according to their speciality (12 for Lisbon and other squares was according to population and traffic) and also allowed the formation of a Brokers’ Chamber, composed of 5 members, annually elected by general assembly, who would be responsible for monitoring all brokers and the weekly quotation of current prices of merchandise, own funds, exchanges, charters and insurance.
According to this law, insurance companies were obliged to send to the Chamber a bulletin of the prices of insurance premiums made during the week. Insurance is now subordinated to the Stock Exchange Brokers Chamber.
The Insurance’s House no longer performs the role that was entrusted to it, but merely the place occupied by insurance companies.
Business of the Kingdom Ministry decree approving the Regulation of Commercial Squares and Brokerage Corporations, 16th January 1837
“Diário do Governo”, nº 16, de 19 de janeiro de 1837, p. 91-92
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