Regulatory Alerts1995-08-07
Notice No. 7/95
The National Bank of Angola issued Notice No. 7/95 on 8 August 1995 to mandate all authorized and operating exchange houses to increase their fully paid-in share capital to KZR 240,000,000.00. This capital adjustment must be completed within sixty days of the notice's publication date. The regulation takes immediate effect pursuant to Articles 16 and 43 of Law No. 4/91.
NOTICE NO. 7/95 OF 08 AUGUST Considering the minimum capital level required for the establishment of Exchange Houses, in accordance with Notice No. 06/95 of 17 July; Exercising the powers attributed to the National Bank of Angola by Articles No. 16 and 43 of Law No. 4/91 of 20 April; HEREBY DETERMINE: ARTICLE 1 Authorized Exchange Houses operating under the National Bank of Angola must update their share capital to KZR - 240 000 000.00 (Two Hundred and Forty Million Adjusted Kwanzas), fully paid in cash. ARTICLE 2 The update referred to in the preceding Article must be completed within a period of 60 (sixty) days from the date of this Notice. ARTICLE 3 This Notice enters into force immediately. PUBLISH Luanda, 08 AUGUST 1995
The Governor ANTÓNIO GOMES FURTADO