Regulatory Alerts2017-03-28
Added · Updated
Inspection of Financial Institutions Act 38 of 1984
Enacted by the President and administered by the Registrar of the Namibia Financial Institutions Supervisory Authority, this Act consolidates statutory provisions governing the inspection of financial institutions. It empowers the Registrar and appointed inspectors to examine records, enter premises, question personnel under oath, and seize documents whenever institutions fail to submit required returns or exhibit operational irregularities. The legislation establishes clear procedures for inspection reports, cost allocation, confidentiality obligations, and criminal penalties for non-compliance while extending its jurisdiction to South West Africa.
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