REPUBLIC GAZETTE

OFFICIAL PUBLICATION OF THE REPUBLIC OF MOZAMBIQUE

7th SUPPLEMENT

NATIONAL PRESS OF MOZAMBIQUE, S.A.

NOTICE

The matter to be published in the «Republic Gazette» must be submitted as a duly authenticated copy, one for each subject, containing, in addition to the necessary indications for this purpose, the following endorsement, signed and authenticated: For publication in the «Republic Gazette».

SUMMARY

Bank of Mozambique:

Notice No. 5/GBM/2015:
Approves the Regulation on the Retention and Remittance of Fake or Counterfeit Currency.

Notice No. 6/GBM/2015:
Establishes the protection measures for funds received from clients in exchange for electronic money issued by electronic money institutions.

BANK OF MOZAMBIQUE

Notice No. 5/GBM/2015
of December 31

In order to regulate the process of retention and remittance to the Bank of Mozambique of banknotes and metallic coins that are manifestly or suspected to be fake or counterfeit, with a view to preventing and combating the phenomenon of currency counterfeiting and forgery, thereby promoting confidence and preserving its value, the Bank of Mozambique, using the powers conferred upon it by Articles 7 and 37 of Law No. 1/92, of January 3 (Organic Law of the Bank of Mozambique), determines:

1. The Regulation on the Retention and Remittance of Fake or Counterfeit Currency, attached hereto, is hereby approved, forming an integral part of this Notice.
2. This Notice enters into force immediately, repealing all provisions to the contrary.
3. Any doubts arising in the interpretation and application of this Notice must be submitted to the Regulation and Licensing Department of the Bank of Mozambique.

Bank of Mozambique, in Maputo, July 13, 2015. — Governor of the Bank of Mozambique, Ernesto Gouveia Gove.

Regulation on the Retention and Remittance of Fake or Counterfeit Currency

CHAPTER I
General Provisions

ARTICLE 1
Subject Matter
This Regulation establishes the rules to be observed in the retention of currency that is manifestly or suspected to be fake or counterfeit and its respective remittance to the Bank of Mozambique.

ARTICLE 2
Scope of Application

1. This Regulation applies to credit institutions and financial companies that, in the exercise of their activities, handle currency.
2. This Regulation also applies to other entities that, directly or indirectly, operate or intervene professionally in the cash circulation activity, as defined by the Bank of Mozambique.

ARTICLE 3
Definitions
For the purposes of this Regulation, the following terms are understood as:
a) Currency – banknotes and metallic coins that have legal tender status in Mozambique or abroad; legal tender being understood as the capacity of banknotes and metallic coins to be used as a means of payment in a given territory, where their acceptance at nominal value is mandatory; b) Counterfeit currency – genuine banknotes or metallic coins reproduced illegitimately and completely, by graphic, photocopy or other means, with the intention of placing them in circulation or for sale; c) Fake currency – legitimate and genuine banknotes or metallic coins whose face value or other characteristic element has been subject to alteration, with the intention of placing them in circulation or for sale.

794 — (158) | FIRST SERIES — NUMBER 104

CHAPTER II
Authentication Verification and Currency Retention Procedures

ARTICLE 4
Duty to verify the authenticity of currency

1. Credit institutions, financial companies and other entities covered by this Regulation must carry out careful verification of the authenticity of currency in the exercise of their activities.
2. The verification of currency authenticity must be carried out taking into account the characteristics and security elements defined for each denomination of currency.

ARTICLE 5
Mechanisms for verifying currency authenticity The institutions and entities to whom this Regulation applies must establish internal mechanisms for verifying currency authenticity and strict compliance with this Regulation.

ARTICLE 6
Duty to retain and remit currency
Institutions and entities that operate professionally with cash must immediately retain and remit in full the currency whose fake or counterfeit nature is manifest or suspected to the Bank of Mozambique, which will conduct a conclusive analysis of its genuineness.

ARTICLE 7
Retention procedures

1. At the time of retention, institutions and entities covered by this Regulation must inform the client about the retention, the causes and the subsequent procedures.
2. The retention of currency must be carried out by issuing a receipt, signed by the client and the retaining institution or entity.
3. Retaining institutions and entities are also obliged to collect a copy of the presenter's identification document and produce information regarding the circumstances of the currency retention.

ARTICLE 8
Preservation of currency characteristics
The institutions and entities to whom this Regulation applies must ensure that, under no circumstances, acts are performed that alter the physical or visual characteristics of the retained currency, which could prejudice its analysis.

ARTICLE 9
Verification of currency authenticity upon public request

1. Without prejudice to compliance with legislation regarding the reporting of offences, any person who suspects that currency in their possession is fake or counterfeit may request any bank or the Bank of Mozambique to verify its authenticity.
2. Banks are obliged to attend to the request referred to in paragraph one of this article, even if the applicant is not their client.

CHAPTER III
Subsequent Actions Following Currency Analysis

ARTICLE 10
Return of genuine currency

1. Once the authenticity of the currency is confirmed, the Bank of Mozambique will return it to the institution or entity that retained or presented it for examination, for the purpose of restitution to the presenter, in accordance with the retention receipt.
2. The restitution of Metical currency to the presenter must be carried out by account credit, if it concerns a client of the institution, or by cash delivery, otherwise.
   The restitution of foreign currency to the presenter must always be carried out in cash.

ARTICLE 11
Custody of fake or counterfeit currency

1. Once the fake or counterfeit nature of the currency is confirmed, the Bank of Mozambique notifies the institution or entity that retained and sent it, which must inform, in writing, the presenter and the competent authority for subsequent legal procedures.
2. In the case of having received currency from the public, the Bank of Mozambique notifies the presenter and the competent authority of the fake nature, for the purposes referred to in the previous paragraph.
3. Currency whose fake or counterfeit nature is confirmed remains in the custody of the Bank of Mozambique, which makes it available to the competent authority for subsequent legal procedures.

CHAPTER IV
Final Provision

ARTICLE 12
Sanctioning regime
Violation of the provisions of this Regulation is subject to the sanctioning regime provided for in the Law on Credit Institutions and Financial Companies, Law No. 15/99, of November 1, with amendments introduced by Law No. 9/2004, of February 21, and other applicable legislation.

Notice No. 6/GBM/2015
of December 31

In order to establish measures through which electronic money institutions must ensure the protection of funds received from clients in exchange for electronic money, under Article 17(4) of Law No. 2/2008, of February 27 – National Payment System Law, the Bank of Mozambique determines:

CHAPTER I
General Provisions

ARTICLE 1
Subject Matter
This Notice establishes the protection measures for funds received from clients in exchange for electronic money issued by electronic money institutions.