Notice No. 01/2020, dated January 9

PUBLISHED IN THE OFFICIAL GAZETTE, FIRST SERIES, NO. 3, ON JANUARY 9, 2020 NOTICE NO. 01/2020 SUBJECT: EXCHANGE RATE POLICY

• Amendment to the Wording of Article 5 of Notice No. 05/18, dated July 17

Whereas it is necessary to update the current regulations of the Banco Nacional de Angola in order to simplify the administrative licensing procedures for merchandise import operations with a settlement period exceeding 360 days, referencing Law No. 5/97 of June 27 - Exchange Rate Law; In the exercise of the powers conferred upon me under the combined provisions of paragraph 2 of Article 28 of Law No. 5/97 of June 27 - Exchange Rate Law, and Articles 40 and 51 of Law No. 16/10 of July 15 - Banco Nacional de Angola Law, I HEREBY DETERMINE:

Article 1. (Amendment to the Wording of Article 5 of Notice 5/18, dated July 17)
Article 5 of Notice No. 05/18, dated July 17, regarding "Licensing by the Banco Nacional de Angola", is amended to read as follows:

“Article 5. – (Licensing by the Banco Nacional de Angola) CONTINUATION OF NOTICE NO. 01/2020 Page 2 of 2 Banking Financial Institutions may carry out merchandise import operations with a settlement period exceeding 360 (three hundred and sixty) days, counted from the date of customs clearance for unloading, without prior authorization from the Banco Nacional de Angola.”

Article 2. (Penalties)
Non-compliance with the provisions of this Notice constitutes an offense provided for and punishable under Law No. 5/97 of June 27 - Exchange Rate Law, combined with Law No. 12/15 of June 17 - Basic Law of Financial Institutions.

Article 3. (Interpretation and Omissions)
Doubts and omissions arising from the interpretation and application of this Notice are resolved by the Banco Nacional de Angola.

Article 4. (Entry into Force)
This Notice enters into force on the date of its publication.

PUBLISH.
Luanda, January 7, 2020.

THE GOVERNOR
JOSÉ DE LIMA MASSANO