Notice No. 16/2012 of April 3

---

Tuesday, April 3, 2012	Series I — No. 64
OFFICIAL GAZETTE	OFFICIAL ORGAN OF THE REPUBLIC OF ANGOLA Price of this issue - Kz: 280.00

All correspondence, whether official or regarding advertisements and subscriptions to the «Official Gazette», must be addressed to Imprensa Nacional - E.P., in Luanda, Henriques de Carvalho Street No. 2, Cidade Alta, Postal Box 1306, www.imprensanacional.gov.ao - Teleg. Addr.: «Imprensa».

SUBSCRIPTION
	Year
The three series	Kz: 440,375.00
Series I	Kz: 260,250.00
Series II	Kz: 135,850.00
Series III	Kz: 105,700.00

The price for each line published in the Official Gazettes Series I and II is Kz: 75.00, and for Series III it is Kz: 95.00, plus the respective stamp duty, with Series III publication depending on a prior deposit made at the treasury of Imprensa Nacional - E.P.

TABLE OF CONTENTS

President of the Republic

Presidential Decree No. 59/12:
Removes Carlos Manuel de Carvalho Rodrigues from the position of Executive Administrator of the Board of Directors of the Capital Markets Commission.

Presidential Decree No. 60/12:
Appoints Mário Edison Gourgel Gavião to the position of Executive Administrator of the Board of Directors of the Capital Markets Commission.

Presidential Dispatch No. 44/12:
Approves the amendment to the composition of the Executive Committee supporting the Organizing Committee for the preparation and organization of the 41st World Roller Hockey Championship, as established in No. 2 of Presidential Dispatch No. 72/11 of September 16. — Revokes all legislation contrary to this Instrument.

Presidential Dispatch No. 45/12:
Approves the Construction Project of the Institute for Economic and Financial Management Training of African Countries with Official Portuguese Language, and the proposal to award the corresponding contract to China National Electronics Import & Export Corporation.

Presidential Dispatch No. 46/12:
Approves the Contract for the Rehabilitation, Modernization and Expansion of the 220/60/30/15 KV Viana Substation.

Presidential Dispatch No. 47/12:
Approves the Supervision and Construction Contract for the Protection and Stabilization Project, External Landscaping and Social Facilities of the Boavista and Sambizanga Slopes.

Presidential Dispatch No. 48/12:
Approves the Execution Contract for Protection and Stabilization Works, External Landscaping and Social Facilities of the Boavista and Sambizanga Slopes, Phase-1.

Presidential Dispatch No. 49/12:
Approves the Project for the Construction and Operation of Land Infrastructures at Passenger Maritime Terminals in Luanda Province.

Presidential Dispatch No. 50/12:
Authorizes the Minister of Urbanism and Construction to enter into a Contract with Norberto Odebrecht S.A. Construction Company regarding the Construction of 3000 (three thousand) Low-Cost Houses in the Zango Subdivision, Viana expansion area.

National Bank of Angola

Notice No. 14/12:
Establishes the Code of Conduct for Interbank Monetary and Foreign Exchange Markets and approves its internal regulations.

Notice No. 15/12:
Regulates the establishment and operation process of financial assignment companies.

Notice No. 16/12:
Regulates financial assignment contracts concluded by financial assignment companies authorized to operate by the National Bank of Angola.

Notice No. 17/12:
Establishes specific prudential rules applicable to financial leasing companies.

Notice No. 18/12:
Regulates the establishment and operation process of financial leasing companies.

Ministry of Agriculture, Rural Development and Fisheries

Dispatch No. 282/12:
Concludes the secondment held by Abel Luachi Rufino in the position of Provincial Department Head at the Agricultural Development Institute, in Lunda-Sul Province.

Dispatch No. 283/12:
Appoints Domingos Muaiuma to serve in a secondment as Provincial Department Head at the Agricultural Development Institute, in Lunda-Sul Province.

---

ANNEX II

SHARE CAPITAL TABLE

		Share Capital
Order No.	Partners or Shareholders	No. of Quotas or Shares	Kwanza Value	Percentage

Notice No. 16/12
dated April 3

In view of the need to establish the terms and conditions governing the conclusion of factoring contracts, in accordance with Presidential Decree No. 95/11 of April 28;

Pursuant to the combined provisions of paragraph f) of No. 1 of Article 21 and paragraph d) of No. 1 of Article 51, both of Law No. 16/10 of July 15 (Law of the National Bank of Angola), combined with the provisions of No. 2 of Article 6 of Law No. 13/05 of September 30 (Law on Financial Institutions); I determine:

ARTICLE 1.
(Subject Matter)

1. This Notice regulates financial assignment contracts concluded by financial assignment companies authorized to operate by the National Bank of Angola, in accordance with Law No. 13/05 of September 30 (Law on Financial Institutions).

2. Banking financial institutions that carry out financial assignment activities are subject to the requirements established in this Notice.

ARTICLE 2.
(Definitions)

For the purposes of this Notice, the following are considered:
a) Financial assignment contract or factoring contract: the agreement concluded between two or more parties whereby one party, designated as assignee or factor, acquires from another party, designated as adherent, short-term credits resulting from the sale of products or provision of services to a third party designated as debtor; b) Assignment: the act or effect of assigning, transferring or transmitting a right; c) Financial assignment: the acquisition of short-term credits derived from the sale of products or provision of services, in domestic and external markets; d) Financial assignment with recourse or financial assignment with right of redress: an act in which the assignee (factor) does not assume the risk of irrecoverable debt, retaining the right of redress against the adherent regarding taken credits that are not paid by debtors; e) Financial assignment without recourse or financial assignment without right of redress: an act in which the assignee (factor) assumes the risk of irrecoverable debt, including legal rights to obtain payment from the debtor, and the adherent is exempt from reimbursing any losses due to non-payment by the debtor; f) The parties involved in a financial assignment operation are:
i) Assignee or Factor: entity authorized to carry out factoring activities; ii) Adherent (Assignor/Endorser): supplier of goods and/or services, who assigns the credit rights held against the debtor to the assignee or factor; iii) Debtor: natural or legal person, public or private, upon whom rests the obligation to pay credits originating from sales made and/or services provided by the adherent and assigned to the assignee or Factor.

---

1600 | OFFICIAL GAZETTE

ARTICLE 3.
(Rights of the Factor)

The factor is entitled to the following rights:
a) charge the debtor for amounts related to acquired credits; b) retain for itself the instruments related to acquired credits.

ARTICLE 4.
(Obligations of the Factor)

The obligations of the factor include, inter alia:
a) manage and collect credits assigned to it; b) advance funds, wholly or partially, to the adherent as contractually established; c) notify the debtor of the credit right held against it, resulting from a financial assignment contract.

ARTICLE 5.
(Right of the Adherent)

The adherent is entitled to receive from the factor in advance the amounts related to assigned credits.

ARTICLE 6.
(Obligations of the Adherent)

The obligations of the adherent include, inter alia:
a) pay the management/collection commission regarding assigned credits, according to contractually established terms and conditions; b) pay the remuneration, contractually defined, for advances and other services performed by the factor; c) guarantee credit risk in case of debtor bankruptcy or insolvency in recourse operations, unless otherwise provided; d) notify the debtor of the credit assignment in writing within the contractually defined period. In the case of a negotiable instrument, endorsement by the adherent in favor of the factor shall be executed.

ARTICLE 7.
(Rights of the Debtor)

The debtor may bring any action against the adherent to secure its rights, notably in case of defect in the acquired good or provided service.

ARTICLE 8.
(Form of the Financial Assignment Contract)

1. The assignment (factoring) contract is always concluded in writing, may be renewable, and must contain the set of relationships between the assignee (factor) and the adherent.

2. The transfer of credits under factoring contracts must be accompanied by corresponding invoices or documentary, electronic, or other equivalent technological support.

ARTICLE 9.
(Minimum Requirements of the Financial Assignment Contract)

1. Banking financial institutions and financial assignment (factoring) companies must, mandatorily, conclude financial assignment contracts, accompanied by respective invoices or documentary, electronic, or other equivalent technological support.

2. The financial assignment (factoring) contract must contain the following essential minimum requirements:
   a) written contract accompanied by invoices or documentary, electronic, or other equivalent technological support; b) identification of the factor or assignee and identification of the adherent or assignor; c) subject matter of the contract; d) the value or calculation method of factoring commissions, interest rates and guarantee commissions; e) start and end dates of contract execution; f) maturity date of acquired credits; g) declaration on the assignment modality (assignment with recourse and assignment without recourse); h) payment method; i) amount of acquired credits; j) total of transactions involving the contract; k) other information that the contract parties deem necessary in defining proposed activities, services, discounts and guarantees agreed by contracting parties.

ARTICLE 10.
(Contract Termination/Resolution)

The financial assignment contract may be terminated by either party, in accordance with the Angolan Civil Code.

ARTICLE 11.
(Entry into Force)

This Notice enters into force 30 days after the date of its publication.

Published.

Luanda, December 19, 2011.

The Governor, José de Lima Massano.

Notice No. 17/12
dated April 3

In view of the need to regulate and establish appropriate accounting and disclosure policies for appli-

---