Regulatory Alerts2013-01-01
Financial Lease Regulations, 2013
Issued by the Commissioner of Financial Institutions, these regulations establish a comprehensive legal framework for financial leasing in Lesotho by defining capital and operating leases, licensing requirements, and mandatory capital and risk management standards for leasing companies. The rules delineate the specific rights and obligations of lessees, lessors, and suppliers, including asset acceptance, risk allocation, irrevocability of duties, and the lessor’s exclusion of liability for third-party claims. They further mandate preemptive registration of leases in an approved system, outline default notice and liquidated damages procedures, and grant the Commissioner authority to enforce penalties and oversee leasing company supervision.
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