Regulatory Alerts2002-11-14
Added · Updated
Regulation 15 – Namibian Assets
Long-Term Insurers and Pension Funds must invest at least 35% of their assets in securities classified as Namibian Assets. This classification includes Republic of Namibia Government securities, securities issued by Namibian Parastatals, Local Authorities, Municipalities, Town Councils, securities of local non-dual listed companies on the NSX, deposits with Namibia registered deposit taking institutions, and any security approved by the Registrar. Dual listed companies on the NSX must meet criteria including significant capital investment, substantial business operations, and Namibian decision-making management to obtain status. Applications require submission of incorporation certificates, articles of association, shareholder details, and business operation descriptions to the Registrar of Financial Institutions.
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