Chapter X Infractions Section I General Provisions Article 122 Area of applicability 1. The provisions of this chapter are applicable, regardless of the nationality of the agent. 2. The following facts that infringe this law, are considered infractions, if: a) ...

Article 114 Nomination of the Supervisory Commission 1. When any of the situations referred to in article 109 or in number 2 of article 111 of this law occur, the Supervisory Entity may, together with or separately from the nomination ...

Article 111 Recovery and corrective plan 1. If any of the conditions described in the previous article occurs, the Supervisory Entity may oblige the institution in question to prepare and submit for approval a recovery and corrective plan, within the ...

Chapter IX Corrective measures Article 108 Objective of corrective provisions 1. With a view to protecting the interests of its depositors, investors and other creditors, and to safeguard the normal functioning of the monetary, financial and foreign exchange markets, the ...

Chapter VIII Non-banking financial institutions Section I Authorization of financial institutions with registered office in Angola Subsection I General principles Article 89 Scope of application The provisions of this chapter are applied to the authorization of non-banking financial institutions identified in ...

Article 84 External Auditors 1. The activities of financial institutions and their annual accounts shall be subject to annual external auditing, by an auditing company legalized and established in Angola, in accordance with the stipulated in Law 3/01, dated March ...

Section III Supervision Article 81 Supervisory procedures In the execution of its supervisory duties, the responsible supervision entity is particularly responsible for: a) follow up the activities of financial institutions under supervision and promote the evaluation of risks and it’s ...

Section II Responsible management Article 74 General principles Banking financial institutions should use the funds at their disposal in such a way as to guarantee at all times adequate levels of liquidity and solvency. Article 75 Capital 1. The responsible ...

Chapter VII Responsible Management and supervision norms Section I General Principles Article 70 Market direction and control The National Bank of Angola is responsible for directing the monetary and foreign exchange markets in accordance with its Statutes and this law. ...

Section IV Competition and advertising Article 68 Defense of competition 1. Finance institutions and their branch offices may not: a) sign contracts or agreements or adopt any kind of joint policy with the objective of achieving a dominant position in ...