FINANCIAL INSTITUTIONS LAW ( PART 17)

Chapter IV Activities in Angola Section I General principles Article 36 Compliance with Angolan law The activities of foreign based banking financial institutions, in national territory, should comply with Angolan legislation. Article 37 Suitability The directors and managers of branch offices ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 16)

Chapter III Activities Abroad Article 33 Branch Offices 1. The banking financial institutions with registered office in Angola which intend to establish branch offices abroad should give notice of such intention to the National Bank of Angola, specifying the following ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 15)

Section IV Alterations to Statutes Article 30 Alterations to statutes in general 1. Any alterations to the statutes of banking financial institutions are subject to prior authorization of the National Bank of Angola. 2. Any alterations to the objective, which ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 14)

Article 28 Lack of requirements 1. If for any reason the legal or statutory requirements for the normal functioning of the administrative and supervisory bodies, the National Bank of Angola will set a deadline for alterations to the body in ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 13)

Section III Administration and Supervision Article 23 Suitability 1. The administrative and supervisory bodies of banking financial institutions should only include members whose suitability guarantees sound and prudent management, particularly as regards the security of the funds entrusted to the ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 12)

Article 24 Revocation of the Authorization 1. The authorization for a banking financial institution may be revoked on the following grounds, besides others provided for by law: a) if it has been obtained by means of false declarations or other ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 11)

Article 21 Expiry of the authorization 1. The authorization expires if the petitioners expressly waiver it, if the institution or company is not incorporated within three months from the date of the authorization or, if it does not start its ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 10)

Article 18 Participation of other supervisory entities 1. If the object of the banking financial institutions encompasses any activity that is subject to the supervision of other supervisory entities, the National Bank of Angola, before deciding on the authorization request, ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 9)

Article 17 Form of request 1. The banking financial institutions authorization request will be processed and delivered to the National Bank of Angola including the following elements: a) project of statutes, clearly referring the types of operations they intend to perform, ...Read More

Read More

FINANCIAL INSTITUTIONS LAW ( PART 8)

Article 15 Composition of the Administrative and Supervisory bodies 1. The administrative body of banking financial institutions is made up of an odd number of members as defined in the statutes of the company, but having a minimum of three ...Read More

Read More