Regulatory Alerts2021-11-10
Added · Updated
FS.R.6.3 Exemption from Investment Limits
The Minister of Finance has authorized NAMFISA to grant exemptions from investment limits under Regulation FS.R.6.2 for friendly societies operating under exceptional circumstances. Upon prior written application, NAMFISA may issue unconditional or conditional exemptions that are either unlimited or limited in duration from the prescribed minimum and maximum investment amounts. These exemptions may be subject to any conditions the authority deems appropriate, thereby providing flexible regulatory relief for qualifying friendly societies.
GOVERNMENT NOTICE MINISTRY OF FINANCE No. 2021 REGULATION MADE IN TERMS OF THE FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 The Minister of Finance has, under subsection 465(9) of the Financial Institutions and Markets Act, 2021 (Act No 2 of 2021), made the regulations set out in the Schedule. MINISTER OF FINANCE WINDHOEK 2021 SCHEDULE
2 FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 [Act No. 2 of 2021] DRAFT REGULATION
THE AUTHORISATION OF NAMFISA TO GRANT UNCONDITIONAL OR CONDITIONAL EXEMPTIONS, WHETHER UNLIMITED OR LIMITED IN DURATION, FROM PROVISIONS OF REGULATION FS.R.6.2 (INVESTMENT LIMITS)
MINISTRY OF FINANCE Regulation No: FS.R.6.3
3 FINANCIAL INSTITUTIONS AND MARKETS ACT, 2021 [Act No. 2 of 2021] The authorisation of namfisa to grant unconditional or conditional exemptions, whether unlimited or limited in duration, from provisions of regulation FS.R.6.2 (investment limits) Regulation No. FS.R.6.3 issued by the Minister under section 465(9)(e) of the Financial Institutions and Markets Act, 2021
- NAMFISA may, under exceptional circumstances and on prior written application by a friendly society, exempt such friendly society in writing from any of the provisions of Regulation FS.R.6.2 pertaining to the minimum or maximum or both the minimum and maximum amounts which a friendly society may invest, upon such conditions as it deems fit.