Regulatory Alerts1995-09-27
Notice No. 09/95 of 27 September
The Governor of the National Bank of Angola issued Notice No. 09/95 to mandate the annual publication of financial statements by Exchange Houses. The regulation requires these institutions to publish their balance sheet, income statement, and fixed assets inventory in the Official Gazette and a major national newspaper within 120 days of fiscal year-end, using standardized accounting models. Additionally, a management report must be published, and copies of all documents must be submitted to the Banking Supervision Directorate within ten days of publication, with non-compliance subject to sanctions under Notice No. 8/95.
NOTICE NO. 09/95 OF 27 SEPTEMBER Considering the need to regulate the publication of the Balance Sheet and Income Statement for each fiscal year of Exchange Houses, under Law No. 5/91 of 20 April. I HEREBY DETERMINE Article 1
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Exchange Houses, after the closing of the annual fiscal year, shall publish in the Official Gazette and in a national newspaper of wide circulation the following documents: a) Balance Sheet b) Income Statement c) Inventory of Financial, Tangible and Intangible Fixed Assets
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The documents referred to in the preceding paragraph shall be prepared in accordance with the standardized models contained in Chapter VIII of the Chart of Accounts for Exchange Houses, approved on 10 November 1994. Article 2 Additionally, the report of the institution's management and/or executive body shall also be published. Article 3 The aforementioned publication shall occur within a maximum period of 120 days from the date of closing of the fiscal year to which it refers, and a copy of the documents mentioned in Articles 1 and 2 shall be sent to the National Bank of Angola, Banking Supervision Directorate, within 10 days immediately following its publication. Article 4 The fiscal year of Exchange Houses shall begin on 1 January and end on 31 December. Article 5 Failure to comply with the provisions of this Notice is subject to sanctions, in accordance with Notice No. 8/95 of 8 August.
Article 6 This Notice enters into force immediately. Luanda, 27 September 1995 THE GOVERNOR
ANTÓNIO GOMES FURTADO