RegAlert2012-04-19
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Bank of Zambia Circular 07/2012 on Registration Fees for Revised Nominal Share Capital
The Bank of Zambia has reduced the registration fee for commercial banks' additional capital from 2.5% to 0.5% following consultations with the Patent and Company Registration Agency. This fee reduction applies to registrations made in accordance with the recapitalisation timelines specified in Circular No. 02/2012. Commercial banks are required to individually engage with PACRA to determine the specific conditions applicable to their registrations.
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BANK OF ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
April 19, 2012
To : All Commercial Banks
CB Circular No: 07/2012
REGISTRATION FEES ON REVISED NOMINAL SHARE CAPITAL
Following concerns raised by commercial banks on the likely impact of paying registration fees at the currently prescribed level of 2.5%, the Bank of Zambia engaged the Patent and Company Registration Agency (PACRA) over the matter.
We are pleased to advise that PACRA has now agreed to review downwards the registration fee payable to 0.5% for the registration of additional capital by commercial banks. Further, the registration fees will be paid in accordance with the recapitalisation timelines advised in Circular No. 02/2012 dated 30th January 2012.
Commercial banks are required to individually engage PACRA in this regard for the applicable conditions.
Please be informed accordingly.
Bwalya K. E. Ng'andu (Dr)
DEPUTY GOVERNOR – OPERATIONS
Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888/9 Fax: 260-211-237070 E-mail: bngandu@boz.zm http://www.boz.zm
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Source: Bank of Zambia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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