Regulatory Alerts2018-01-01
Financial Institutions (Financial Lease) (Amendment) Regulations 2018
Commissioner of Financial Institutions Retelisoetse Matlanyane issued these 2018 regulations to amend Lesotho’s Financial Lease Regulations of 2013 by mandating written agreements, clarifying lessee and supplier obligations, and updating asset acceptance timelines. The amendments strengthen lessor rights by standardizing default notice delivery methods, establishing a fourteen-day remedy period, and granting immediate possession and disposal rights upon lease termination without judicial process. Additionally, the regulations streamline licensing for banks and micro-finance institutions seeking financial leasing approvals by requiring written Commissioner consent, business plan presentations, and a thirty-day approval window.
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