Notice No. 11/2023 on Exchange Rate Policy — BNA — AO

Published in the Official Gazette of the Republic, I Series, No. 205, on October 27 NOTICE NO. 11/2023 SUBJECT: EXCHANGE RATE POLICY

Amendment of the Wording of Point 3 of Article 5 of Notice No. 02/20, dated January 9
Considering the provisions of Article 3 of Decree No. 21/98, dated July 24, and the need to update the regulation to simplify procedures related to transfers by Embassies, Diplomatic and Consular Missions accredited in Angola when executing Current Invisible Exchange Operations ordered by Legal Entities. In these terms, under the combined provisions of paragraph 2 of Article 28 of Law No. 5/97, dated July 27 - Exchange Rate Law, and Article 40 of Law No. 24/21, dated October 18, Bank of Angola Law IT IS DETERMINED:
Article 1.
(Amendment of the Wording of Point 3 of Article 5 of Notice No. 02/20, dated April 9) Point 3 of Article 5 of Notice No. 02/20, dated April 9, on the Rules and Procedures for Carrying Out Current Invisible Exchange Operations by Legal Entities of the Bank of Angola, is amended to read as follows:
“Article 5.
(Exemption from Licensing)”

Transfers by Embassies, Diplomatic and Consular Missions
accredited in Angola are exempt from licensing by the

CONTINUATION OF NOTICE NO. 11/2023 Page 2 of 2 Bank of Angola provided that Banking Financial Institutions ensure the following:
a) That the funds to be transferred originate from the country of origin or are revenues from emoluments and consular services provided in Angola; b) That the operations comply with all requirements necessary for their execution and assume responsibility for their proper execution; c) That the operations are recorded and settled in accordance with the provisions of Notice No. 02/20, dated April 9.
Article 2.
(Sanctions)
Failure to comply with the provisions of this Notice constitutes an offense provided for and punishable, under Law No. 05/97, dated June 27 - Exchange Rate Law, combined with Law No. 14/21, dated May 19, General Regime of Financial Institutions Law.
Article 3.
(Doubts and Omissions)
Doubts and omissions resulting from the interpretation and application of this Notice are resolved by the Bank of Angola.
Article 4.
(Entry into Force)
This Notice enters into force on the date of its publication.
PUBLISHED.
Luanda, October 23, 2023.
THE GOVERNOR
MANUEL ANTÓNIO TIAGO DIAS

Lineage: No known changes

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The links and the sentences they come from (4)

Amends

Notice No. 02/20, dated April 9, on the Rules and Procedures for Carrying Out Current Invisible…Not in RegAlert · 2020
“Point 3 of Article 5 of Notice No. 02/20, dated April 9, on the Rules and Procedures for Carrying Out Current Invisible Exchange Operations by Legal Entities of the Bank of Angola, is amended to read as follows”

Issued under

Lei n.º 24/21, de 18 de Outubro — Lei do Banco Nacional de Angola (Law of the National Bank of Angola)2021 · AO-LAW
“and Article 40 of Law No. 24/21, dated October 18, Bank of Angola Law”
Decree No. 21/98, dated July 24Not in RegAlert · 1998
“Considering the provisions of Article 3 of Decree No. 21/98, dated July 24”
Law No. 5 dated 1997-07-27Not in RegAlert
“under the combined provisions of paragraph 2 of Article 28 of Law No. 5/97, dated July 27 - Exchange Rate Law”

Mentions (1): 1 document this one mentions without changing it

Common references

Lei n.º 14/21, de 19 de Maio — Lei do Regime Geral das Instituições Financeiras (General Law on Financial Institutions)2021 · AO-LAW · cited by 150 BNA documents
“combined with Law No. 14/21, dated May 19, General Regime of Financial Institutions Law.”