Republic Gazette - Treatment of Accounting Documents and Checks During the Co-Circulation Period

Friday, November 10, 2017 Number 167 SÃO TOMÉ AND PRÍNCIPE REPUBLIC GAZETTE VOLUME 1.0 MINISTRY OF FINANCE, TRADE AND BLUE ECONOMY CENTRAL BANK OF SÃO TOMÉ AND PRÍNCIPE Permanent Application Standard (PAS) No. 18/2017.

NATIONAL ASSEMBLY Administrative and Financial Directorate Excerpt of Appointment Instrument.

MINISTRY OF FINANCE, TRADE AND BLUE ECONOMY Administrative and Financial Directorate Excerpt of Appointment Instrument

MINISTRY OF EMPLOYMENT AND SOCIAL AFFAIRS Administrative and Financial Directorate Excerpt of Appointment Instrument

No. 167 - November 10, 2017 SÃO TOMÉ AND PRÍNCIPE - REPUBLIC GAZETTE 2107 NATIONAL ASSEMBLY Administrative and Financial Directorate Excerpt of Appointment Instrument

By Appointment Instrument of August 15, 2017, countersigned by the Court of Auditors under countesign No. 376/2017, on November 1, 2017. Mr. Celso D'Almeida Alves de Carvalho is appointed as a 3rd Class Auxiliary Technician in the personnel roster of the National Assembly, to a created and funded position. Administrative and Financial Services Directorate in São Tomé, on November 9, 2017. - The Director, Pedra Maria dos Santos Andrade.

MINISTRY OF FINANCE, TRADE AND BLUE ECONOMY Administrative and Financial Directorate Excerpt of Appointment Instrument

By Excerpt of Appointment Instrument, dated August 4, 2017, from the Administrative and Financial Directorate of the Ministry of Finance, Trade and Blue Economy, countersigned by the Court of Auditors under countesign No. 380/2017, dated November 11, 2017; Mr. Danilo José Barbosa da Cruz Lázaro is provisionally appointed to the category of Senior Inspector 3rd Class, in the Personnel Roster of the General Directorate of Customs, under the Ministry of Finance, Trade and Blue Economy. General Directorate of Public Administration in São Tomé, November 13, 2017. - The Director, Semôa Pina Will.

MINISTRY OF EMPLOYMENT AND SOCIAL AFFAIRS Administrative and Financial Directorate Excerpt of Appointment Instrument

By Appointment Instrument of the Administrative and Financial Directorate of the Ministry of Employment and Social Affairs dated May 29, 2017, countersigned by the Court of Auditors under countesign No. 377/2017, dated November 1, 2017. Mr. Esmael Virginio dos Santos D'Alva Teixeira is provisionally appointed as a 3rd Class Senior Technician, in the Personnel Roster of the Directorate of Labour, Employment and Vocational Training under the Ministry of Employment and Social Affairs. General Directorate of Public Administration in São Tomé, November 13, 2017. - The Director, Semôa Pina Will.

2108 SÃO TOMÉ AND PRÍNCIPE - REPUBLIC GAZETTE No. 167 - November 10, 2017 CENTRAL BANK OF SÃO TOMÉ AND PRÍNCIPE Permanent Application Standard (PAS) No. 18/2017 October 30, 2017

PAS 18/2017 CODE PERMANENT APPLICATION STANDARD S:P99 CENTRAL BANK Proponent(s) ENTRY INTO FORCE PG 1/3 B.O.A.: Subject: Treatment of accounting documents and checks during the co-circulation period

Whereas, in accordance with the provisions of Decree-Law No. 15/2017 of October 3, the co-circulation period of the two Families of Dobra is from January 1, 2018 to June 30, 2018; It being absolutely necessary that during the said period, banking financial institutions process accounting documents, namely financial statements, extracts, checks, among others, in order to distinguish bookkeeping between the two Families of Dobra. In these terms, under the powers established by paragraph 1 of Article 56 of Law No. 8/92 of August 3, supplemented by Article 8 and paragraph 4 of Article 9 of Decree-Law No. 15/2017, the Board of Directors of the Central Bank of São Tomé and Príncipe resolves as follows:

Article 1. (Subject and Scope)

1. This PAS regulates the procedures applicable to banking accounting and checks.
2. This PAS applies to all banking financial institutions operating within national territory.

DATE OF ISSUE DOC. NO. October 30, 2017

Article 2. (Treatment of accounting documents)

1. Accounting reports of transactions carried out during the co-circulation period, generated from the computer platform, must be expressed in the abbreviation nDb.
2. In duly justified and authorized exceptional cases, institutions must affix the abbreviation nDb to all accounting reports using the following stamp model: [Logo] Bank Name In nDb Date: 01.01.2018

Article 3. (Treatment of checks)

1. Banks must, during the co-circulation period and as needed, make available new checks bearing the abbreviation nDb.
2. In duly justified exceptional cases, institutions must, as needed, affix the abbreviation nDb to already printed checks using the following stamp model: [Logo] Bank Name In nDb Payable until 30.09.2018
3. The stamp referred to in the preceding paragraph, to be affixed in the upper right corner of the check, must contain the logo and bank name, be red in color, and measure 3cm x 1.5cm.
4. Holders of checks with the abbreviation nDb must issue them only during the co-circulation period.
5. The checks referred to in this article have a maximum collection deadline of September 30, 2018, after which they expire.

Article 4. (Treatment of post-dated checks)

1. Holders of post-dated checks in the Current Family of Dobra (Db) must visit their respective institution counters by December 31, 2017, to update the value of said instruments, in accordance with the conversion rate defined under Decree-Law No. 15/2016.
2. The update referred to in the preceding paragraph is made by affixing the following stamp model: [Logo] Bank Name In Db/1.000 Date: ---'---'2018
3. The stamp referred to in the preceding paragraph, to be affixed in the upper right corner of the check, must contain the logo and bank name, the expression Db/1000, be red in color, and measure 3cm x 1.5cm.

Article 5. (Transitional Provisions)

1. Issuers and holders of post-dated checks shall be liable for any damages resulting from the failure to update the values of these checks.
2. Upon expiration of the co-circulation period, the abbreviation Db will be the sole method for expressing value in national currency, both in accounting reports and checks, as well as in price indications.
3. Doubts arising from the application of this standard shall be clarified by the Central Bank.

Article 6. (Dissemination) The procedures mentioned in this PAS shall be disseminated through the most appropriate communication and dissemination channels.

Article 7. (Entry into Force) This PAS enters into force on the date of its publication.

Done in São Tomé, on the 30th day of October 2017.

NOTICE Correspondence regarding the publication of announcements in the Republic Gazette, their signing or lack thereof, shall be addressed to the Information and Reprography Center of the Ministry of Justice, Public Administration and Human Rights - Telephone: 2225693 - Post Office Box No. 901 - E-mail: cir@cstome.net São Tomé and Príncipe. - São Tomé. REPUBLIC GAZETTE