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Wednesday, December 27, 2017 | I SERIES — Number 201

REPUBLIC GAZETTE

OFFICIAL PUBLICATION OF THE REPUBLIC OF MOZAMBIQUE

6th SUPPLEMENT

NATIONAL PRESS OF MOZAMBIQUE, E.P.

NOTICE

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

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TABLE OF CONTENTS

Bank of Mozambique:

Notice No. 20/GBM/2017:
Establishes rules and procedures to be observed in the conduct of foreign exchange transactions.

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BANK OF MOZAMBIQUE

Notice No. 20/GBM/2017
of December 27

The current stage of the national economy, characterized by the multiplication of the network of relations between foreign and domestic investors, has determined an increase in financial flows between the country and abroad, a reality that imposes on authorities in general and on the Bank of Mozambique in particular the duty of adjusted monitoring of operations.

This phenomenon, coupled with the foreign exchange pressure experienced by the country in recent times, has demonstrated the need for the creation, maintenance and updating of flexible foreign exchange intervention rules and instruments, capable of ensuring the effective exercise by the Bank of Mozambique of its function as foreign exchange authority, in accordance with Article 28 of Law No. 1/92, of January 3 – Organic Law of the Bank of Mozambique.

Thus, in the exercise of the competence conferred upon it by Article 5 of Decree No. 49/2017, of September 11, which revises the Regulations of the Foreign Exchange Law, the Bank of Mozambique determines:

CHAPTER I

General Provisions

SECTION I

Subject Matter, Scope and Definitions

ARTICLE 1
(Subject Matter)
This Notice establishes the rules and procedures to be observed in the conduct of foreign exchange transactions, as defined under Law No. 11/2009, of March 11, Foreign Exchange Law.

ARTICLE 2
(Scope)
This Notice applies to all parties involved in foreign exchange transactions carried out under the Foreign Exchange Law, as well as to entities responsible for ensuring compliance with their respective rules, namely:
a) Natural or legal persons holding rights and obligations in the context of carrying out the aforementioned acts, transactions, transfers and operations; b) Entities authorized to conduct foreign exchange transactions; c) Regulatory, supervisory and judicial administration entities, within the scope of their powers conferred by Law.

ARTICLE 3
(Definitions)
For the purposes of this Notice, the following terms are understood as:
a) Foreign Exchange Rate Arbitration: fixation of the value in national currency to be paid or received upon the acquisition or disposal of foreign currency; b) Foreign Exchange Authority: the Bank of Mozambique, as established by Law No. 1/92, of January 3 – Organic Law of the Bank of Mozambique; c) Bank: a type of credit institution, as qualified by the law governing the establishment and exercise of the activity of credit institutions and financial companies; d) Goods: all that, whether tangible or intangible, may be subject to international trade; e) Foreign Exchange Authorization Bulletin: a document, in physical or electronic format, through which the Bank of Mozambique grants the applicant permission to conduct a foreign exchange transaction;

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