Notice No. 11-2016 on the Opening and Closure of Branches and Dependent Offices

NOTICE NO. 11/2016
SUBJECT: OPENING AND CLOSURE OF BRANCHES AND DEPENDENT OFFICES

Whereas it is necessary to establish the procedures and requirements to be observed within the scope of the duty of information inherent to the opening and closure of Branches and/or Dependent Offices of Financial Institutions under the supervision of the Bank of Angola, as provided for in paragraphs 5 and 6 of Article 96 of Law No. 12/2015 of June 17 – Basic Law of Financial Institutions, as well as the physical security elements to be maintained in these establishments.

In accordance with the combined provisions of Articles 34 to 37 of Law No. 10/14 of July 30 – Law of Private Security Companies, of item f) of paragraph 1 of Article 21 and of item d) of paragraph 1 of Article 51, both of Law No. 16/10 of July 15 – Law of the Bank of Angola.

I DETERMINE:

Article 1.
(Object)
The purpose of this Notice is to define the information procedures and requirements regarding the opening and closure of Branches and Dependent Offices to be reported to the Bank of Angola.

Article 2.
(Scope)
This Notice applies to Financial Institutions under the supervision of the Bank of Angola, hereinafter abbreviated as Institutions.

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Article 3.
(Definitions)

1. For the purposes of this Notice, the following are understood as:
   a) Branch: an establishment in the country of a Banking Financial Institution or Non-Banking Financial Institution with headquarters in Angola, which lacks legal personality and directly carries out, in whole or in part, operations inherent to the company's activity, or a supplementary establishment of a branch, in the country, of a Banking Financial Institution or Non-Banking Financial Institution with headquarters abroad; b) Dependent Office: a supplementary establishment of a branch located in that same area.

2. Without prejudice to the name attributed by the Institution to which it is linked, as well as its functional classification, notably Counter, Business Center, Investment Center, Post, among others, for statistical purposes of the Bank of Angola, the establishment in question shall have the denomination of Branch or Dependent Office whenever it presents the characteristics of this type of establishment, provided for in the previous paragraph of this article.

Article 4.
(Duty of Communication)

1. Institutions must communicate in writing to the Bank of Angola, with a minimum advance notice of 15 (fifteen) business days, the intention to open a Branch or Dependent Office, or with an advance notice of 30 (thirty) business days if the intention is the temporary or definitive closure.
2. The informational data regarding Branches and Dependent Offices provided for in Article 5 of this Notice must be inserted into the Financial Institutions Supervision System (SSIF), within a maximum period of 5 (five) business days, after the start of activities, and must always be kept updated.

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3. Annually, Institutions must submit to the Bank of Angola, by March 30, the updated general information of their entire network of Branches and Dependent Offices, which must contain the informational elements established in paragraph 1 of Article 5 of this Notice.

Article 5.
(Requirements for Opening)

1. For the purposes of Article 4 of this Notice, the communication of the opening of the Branch must contain, at minimum, the following elements:
   a) denomination; b) date of start of activities; c) full address (province, municipality, commune or neighborhood, street and number) or other reference elements that allow its location; d) number of workers, specifying the number of men and women; e) data of the manager, deputy manager, and treasurer, containing, at minimum, the following elements:
   i. full name;
   ii. number and date of issuance and validity of the Identity Card;
   iii. full and updated residential address;
   iv. telephone contacts and email.

2. The requirements contained in the previous paragraph apply to Dependent Offices, with due adaptations, and the communication must indicate which Branch the Dependent Office in question is linked to.

Article 6.
(Security and Surveillance)

1. The use of electronic surveillance means by Institutions, in the video surveillance protection system, requires prior authorization from the National Police, in accordance with Article 37 of Law No. 10/2014 of July 30, Law of Private Security Companies.

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2. To guarantee the asset security of Institutions, as well as the physical and asset security of persons accessing their establishments, Institutions must, according to their nature and size, ensure the following conditions:
   a) installation of electronic security measures and video surveillance systems, namely alarms, sensors, and access control to areas considered sensitive, such as:
   i. strong rooms;
   ii. treasuries;
   iii. service counters;
   iv. automated teller machines (ATMs);
   v. exterior zones and other locations where necessary, depending on the activities developed there;
   b) connection of the alarm system to police units and/or security companies; c) implementation of programmable systems for opening and closing safes and strong rooms, in order to prevent access by unauthorized persons or remote access during unauthorized hours; d) implementation of heat and smoke detectors for the protection of persons, data, and essential equipment; e) installation of fire extinguishers, and their revision, considering their validity date; f) adoption of adequate mechanisms for the transport of values, through secure equipment for their protection.

3. The management of the video surveillance system must ensure, at minimum, the following:
   a) capture and record clear images that allow, in a clear and objective manner, the identification of persons and objects; b) archive the captured information for a period of 2 (two) years.

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4. Institutions must display in their establishments information that the space is monitored by a video surveillance system, in a visible and legible location, before or immediately after entering the Branches or Dependent Offices.

5. The responsibility for monitoring the Institutions' video surveillance system lies with the Management Body, which is competent to:
   a) ensure the maintenance of the system with a quarterly frequency, keeping for evidentiary purposes the record of the maintenance performed; b) the area to which the function of monitoring the video surveillance system is delegated must proceed with the mandatory reporting of its activities to the Management Body.

6. The captured images are subject to the duty of secrecy, in accordance with Article 76 of Law No. 12/2015 of June 17, Basic Law of Financial Institutions.

Article 7.
(Requirements for Closure)

1. For the purposes of Article 4 of this Notice, the communication of the temporary or definitive closure of a Branch or Dependent Office must contain, at minimum, the following elements:
   a) date of closure of activities; b) denomination of the Branch or Dependent Office to which domiciled accounts, as well as specific services and products, will be redirected; c) full address (province, municipality, commune or neighborhood, street and number) or other reference elements that allow its location as accurately as possible; d) copy of the document of prior communication to clients with accounts domiciled in the said Branch or Dependent Office being closed.

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2. The intention to close a Branch or Dependent Office must be communicated to clients with bank accounts domiciled therein, with a minimum advance notice of 30 (thirty) days.

3. The communication referred to in the previous paragraph must contain the elements contained in items a), b), and c) of paragraph 1 of this article.

4. For the purposes of paragraph 2 of this article, the communication to clients must be carried out through all available communication channels for contact with them, and its disclosure in a perfectly visible location in the Branch or Dependent Office in question is mandatory.

5. In cases of temporary closure, the communications referred to in this Notice must indicate the reason for the closure, as well as the forecast for the resumption of activities.

Article 8.
(Transitional Provision)
Institutions must comply with the provisions of this Notice within 90 (ninety) days after its publication.

Article 9.
(Offenses)
Violation of the provisions of this Notice is sanctionable in accordance with the Basic Law of Financial Institutions.

Article 10.
(Revocation)
All legislation contrary to the provisions of this Notice is revoked, namely Instruction No. 5/92 of August 12, of the Bank of Angola.

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Article 11.
(Doubts and Omissions)
Doubts and omissions resulting from the interpretation and application of this Notice are resolved by the Bank of Angola.

Article 12.
(Entry into Force)
This Notice enters into force on the date of its publication.

PUBLISH
Luanda, July 18, 2016

THE GOVERNOR
VALTER FILIPE DUARTE DA SILVA