Notice No. 05/2013 of April 22

[LOGO: BNA]
BANCO NACIONAL DE ANGOLA
Office of the Governor

NOTICE NO. 05/2013

SUBJECT: ABOLITION OF CREDIT DOCUMENTS

Whereas the increased execution of electronic transfers through the Credit Transfer System (CTS) provides improved efficiency for Angola's Payment System;

Whereas the operation of the Credit Transfer System since its launch in February 2012 has demonstrated operational reliability;

Whereas, likewise, the continued maintenance of the Value Clearing Service (VCS) and the Credit Transfer System (CTS) creates potential operational inefficiencies for their respective participants;

Pursuant to Article 5 of Notice No. 04/2004, dated August 20;

Under the combined provisions of Article 7 of Law No. 5/05, dated July 29 - Payment System Law - and Article 51 of Law No. 16/10, dated July 15 - Banco Nacional de Angola Law;

HEREBY DETERMINE:

Article 1
(Subject Matter)

This Notice establishes that, henceforth, all interbank credit transfers capable of being executed via a Credit Document shall be mandatorily carried out through the Credit Transfer System (CTS) or the Real-Time Payment System (RTPS).

Article 2
(Amendments to the VCS Regulations)

1. Paragraphs 8.4, 8.5, 8.6 and 8.7, as well as sub-paragraphs 8.1.b), 11.9.1.d) and 11.9.1.g) of the Value Clearing Service (VCS) Regulations, annexed to Notice No. 4/2004 of August 20, are hereby revoked.

2. References to the Credit Document are removed from paragraphs 8.2, 12.2, 15.5, 15.7 and 15.8, sub-paragraphs 11.9.1.a) and 11.9.1.e), and point 7.1.b.(i) of the Value Clearing Service (VCS) Regulations.

3. Paragraphs 3.3, 12.11 and 19.1 of the VCS Regulations shall henceforth read as follows:

«3.3 Payment for the material referred to in point (ii) of sub-paragraph g) of the preceding paragraph shall be made at the reference exchange rate prevailing on the day prior to the payment clearing session, via transfer in the RTPS, in favor of the BNA. The Payment Message Details field shall be filled with "/PAGAMENTO PASTAS E SELOS SCV/".»

«12.11 In the event of returned clearable documents due to reason "25 - Unprocessed logical file", the Participant is entitled to negotiate with the Operator remuneration for potential losses arising from the failure to process the logical file generated by the Operator. The claim must be submitted in writing, with evidence of the alleged losses, and if upheld under these Regulations, the Operator shall pay the remuneration via "Participant Credit" transfer in the RTPS within 15 days of the written claim. The Payment Message Details field shall be filled with "/SCV/ARQUIVO LÓGICO NÃO PROCESSADO/DDMMAA/", where DDMMAA corresponds to the date of non-processing of the file.»

«19.1 The BNA shall centrally communicate, in Luanda, via SWIFT MT 999 message, to the VCS participant the amount payable regarding fine(s) and/or service fee(s), the respective reason, and a 5 (five) day period for the participant to make payment in favor of the BNA, via transfer in the RTPS. The Payment Message Details field shall be filled with "/SCV/TAXA SERVIÇO/DDMMAA/" or "/SCV/MULTA/DDMMAA/", depending on the type of value payable, where DDMMAA corresponds to the date of the MT 999 message communicated by the BNA.»

Article 3
(Interpretation and Omissions)

Any doubts and omissions arising from the interpretation and application of this Notice shall be resolved by the Angola Payment System Department of the Banco Nacional de Angola.

Article 4
(Revocation Clause)

This Notice partially updates the Value Clearing Service (VCS) Regulations, which form part of Notice No. 4/2004 of August 20.

Article 5
(Entry into Force)

This Notice enters into force on the date of its publication.

PUBLISH

Luanda, April 01, 2013

THE GOVERNOR

[Signature]

JOSÉ DE LIMA MASSANO