Regulatory Alerts2021-11-11
Added · Updated
Form of Certificate of Registration for a Friendly Society (Standard FS.S.6.18)
The Namibia Financial Institutions Supervisory Authority issued Standard FS.S.6.18 to prescribe the mandatory form for registering friendly societies under the Financial Institutions and Markets Act, 2021. This standard requires NAMFISA to issue a standardized certificate of registration upon an applicant's successful registration, detailing the society's name, principal office, and authorized operating locations within Namibia. All friendly societies registered under the Act must utilize this prescribed certificate format to validate their legal operational status.
1 GOVERNMENT NOTICE FRIENDLY SOCIETIES NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY No. X 2021 STANDARDS MADE UNDER THE FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 The Namibia Financial Institutions Supervisory Authority has under section 410(7) of the Financial Institutions and Markets Act, 2021 (Act No. 2 of 2021), issued the Standards set out in the Schedule. Gersom Katjimune Chairperson Windhoek, 2021
2 FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 [Act No. 2 of 2021] DRAFT STANDARD
FORM OF CERTIFICATE OF REGISTRATION FOR A FRIENDLY SOCIETY
NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY Standard No: FS.S.6.18
3 FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 [Act No. 2 of 2021] Form of certificate of registration for a friendly society Standard No. FS.S.6.18 issued by NAMFISA under sections 291(3) and 410(7)(t) of the Financial Institutions and Markets Act, 2021 Definitions
- (1) In this Standard, “Act” means the Financial Institutions and Markets Act, 2021 [Act No. 2 of 2021], and includes the regulations prescribed under the Act and the standards and other subordinate measures issued by NAMFISA under the Act. (2) Words and phrases defined in the Act have the same meaning in this Standard, unless the context indicates otherwise, including without limitation, the term “friendly society” as defined in section 284 of the Act. Applicability
- This Standard applies to all friendly societies registered under the Act. Form of certificate of registration
- Upon registration of an applicant as a friendly society, NAMFISA must issue to the society a certificate of registration in the form of Annexure A to this Standard.
4 ANNEXURE A Registration. No.…………………… CERTIFICATE OF REGISTRATION Financial Institutions and Markets Act, 2021 (Act No. 2 of 2021) REGISTRATION AS A FRIENDLY SOCIETY This is to certify that
with principal office:_________________________________________ has been duly registered in terms of section 291(1) of the Financial Institutions and Markets Act, 2021 (Act No. 2 of 2021), and may operate from the following places within Namibia:
Chief Executive Officer Date of registration