Regulation (NAP) - Regulation of Exchange Offices

No. 90 – December 31, 2009 SÃO TOMÉ AND PRÍNCIPE - OFFICIAL GAZETTE 2123

data em que a entrega era devida e até a data da entrega inclusive.

6. The fine amount will be debited directly from the bank account held with the Central Bank, no earlier than three business days after the date of regularization.

Article 9.º
Repeal

NAP 13/2007 of November 26, 2007 is hereby repealed.

Article 10.º
Final Provisions

Banks must inform the Central Bank – Supervision Department, in writing, of the name of the director responsible for the accounting area within 30 (thirty) days from the date of this NAP.

CENTRAL BANK OF S. TOMÉ AND PRÍNCIPE

CENTRAL BANK OF S.T.P.	NAP Permanent Application Standard	Code EO 99
Proposer(s)	Entry into Force	Issue Date	DOC No.	FL
D.S.B.	01/01/2010	31/12/2009	24/2009	1/4

Subject: Regulation of Exchange Offices

The Central Bank of São Tomé and Príncipe, in exercise of the powers attributed to it by Articles 31, 32, and 34 of its Organic Law and in conjunction with paragraph 1 of Article 1 of Decree-Law No. 32/99;

Whereas paragraph 1 of Article 6 and Article 8 of Decree-Law 32/99 grant the Central Bank, as the country's exchange authority, powers to regulate the functioning of the exchange market, supervise institutions authorized to conduct exchange business, and monitor the execution of exchange operations;

Whereas further the need to foster the level of transparency of the national exchange market, thereby allowing the assessment and management of exchange risk for authorized institutions through the supervision of all exchange liquidity in the country;