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2021-01-01

Insurance (Qualification Requirements for Intermediaries) Notice, 2021

The Central Bank of Lesotho has issued the 2021 Qualification Requirements Notice to standardize educational and professional credentials for insurance intermediaries. The notice stipulates that agents, brokers, and principal officers must hold specific diplomas in business or insurance management alongside certificates of proficiency, tailored to their license type and insurance class. Effective upon publication in the Government Gazette on March 26, 2021, these requirements operate pursuant to existing fit and proper regulations.

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LESOTHO Government Gazette Vol. 66 Friday – 26th March, 2021 No. 33 CONTENTS No. Page LEGAL NOTICES 36 Insurance (Qualification Requirements for .................................... 623 Intermediaries) Notice, 2021 37 Appointment of the Petroleum Fund Board Notice, 2021............... 625 OTHER NOTICES (See Supplement of the Gazette) Published by the Authority of His Majesty the King Price: M10.00

LEGAL NOTICE NO. 36 OF 2021 Insurance (Qualification Requirements for Intermediaries) Notice, 2021 Pursuant to regulation 7 of the Insurance (Fit and Proper Requirements for In￾termediaries) Regulations 1 , the, CENTRAL BANK OF LESOTHO being the Commissioner of Insurance, makes the following notice - Citation and commencement

  1. This Notice may be cited as the Insurance (Qualification Requirements for Intermediaries) Notice, 2021 and shall come into operation on the date of publication in the Gazette. Qualification requirements
  2. Subject to regulation 7 of the Insurance (Fit and Proper Requirements for Intermediaries) Regulations, an insurance intermediary shall possess quali￾fications listed in the Schedule. 623

SCHEDULE QUALIFICATION REQUIREMENTS (Regulation 7) COLUMN 1 COLUMN 2 COLUMN 3 Type of Licence Line/Class of Insurance Minimum qualifica- tion Insurance Agent Long and Short-Term Diploma in Business Insurance Management or related field or Certificate of profi- ciency in Insurance. Insurance Broker Long and Short-Term Insurance Principal Officer Diploma in Business Management or related field and Certificate of profi- ciency in Insurance. DATED: DR. RET◊ELISITSOE MATLANYANE GOVERNOR OF THE CENTRAL BANK OF LESOTHO SIGNING FOR AND ON BEHALF OF THE CENTRAL BANK OF LESOTHO 624

NOTE

  1. L.N. No. 126 of 2016

LEGAL NOTICE NO. 37 OF 2021 Appointment of the Petroleum Fund Board Notice, 2021 Pursuant to Regulation 7(3) read with regulation 7(1) of the Petroleum Fund Regulations, 2009 1 , I, THABO SOPHONEA Minister responsible for finance make the following notice - Citation and commencement

  1. This Notice may be cited as the Lesotho Petroleum Fund (Appointment of members of the Board) Notice, 2021 and shall come into operation on the date of publication in the Gazette. Appointment of members of the Board
  2. The following persons are appointed as members of the Lesotho Petro￾leum Fund Board -
  3. Dr. Makhala Khoeli - Chairperson;
  4. Mr. Julius M. Folojeng - Ministry of Finance;
  5. Dr. Kinini Matthews - Ministry of Transport;
  6. Mr. ’Muso Raliselo - Ministry of Energy;
  7. Mr. Motebang Mokoaleli - Lesotho Chamber of Commerce and industry;
  8. Mr. Tumelo Maja - Passenger transport representa- tive;
  9. Mr. Sechaba Thibeli - Transportation of goods repre- sentative;
  10. Ms. ’Matselane Mokebisa - Consumer representative;
  11. Mr. Paul Tjobe - With special skills;
  12. Mr. Atang Tlopo - With special skills. 625

Tenure of Office 3. The tenure of office for members of the Board shall be for 3 years from the date of appointment. DATED: THABO SOPHONEA MINISTER OF FINANCE NOTE

  1. L.N. No. 118 of 2009 626

Printed by the Government Printer, P.O. Box 268, Maseru 100 Lesotho

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