Regulation on the Submission of Periodic Reports

2. The management of participating entities shall, through internal acts, establish procedures to inform the SCRC and obtain information from it regarding any client of the entity, in the manner established by this NAP, as well as procedures to correct incorrect or inaccurate information, and other procedures that the entities deem necessary.

3. Participating entities are responsible for taking necessary measures to ensure the confidentiality of information contained in the SCRC and to protect against unauthorized use.

Article 11.º
Penalties

1. Breach of bank secrecy regarding data contained in the SCRC, by those providing or using the information for their own benefit, is punishable under the Penal Code.

2. The following are considered violations of this NAP and subject to prevailing penalties:
   a) Failure to update the SCRC within established deadlines; b) Submission of incorrect information; c) Unauthorized or improper use of information contained in the SCRC; d) Breach of data confidentiality when unauthorized; e) Failure to meet the 10 (ten) day deadline for rectifying a client's information or failure to justify refusal, in accordance with Article 5.º of this NAP.

Article 12.º
Formats and Contents

The Central Bank shall establish, in consensus with the other participating entities, the procedures and formats for sending and exchanging information in the SCRC, as well as the content to be reported regarding each credit risk.

Article 13.º
Disclosure for Statistical Purposes

The Central Bank may disclose, on a consolidated basis, the information contained in the SCRC for statistical purposes, without specifying the entities providing the information or any of their clients.

Article 14.º
Effectiveness

This NAP enters into force in accordance with legal provisions, granting a period of 90 (ninety) days for participating entities to prepare information regarding all clients with credit risks, for proper registration in the SCRC.

Article 15.º
Revocation

NAP 13/2005 of May 5, 2005 is hereby revoked.

Article 16.º
Entry into Force

This regulation enters into force in accordance with legal provisions.

Central Bank of São Tomé and Príncipe, December 31, 2009.

BANCO CENTRAL DE S. TOMÉ E PRÍNCIPE

BANCO CENTRAL DE S.T.P.	NAP Norma de Aplicação Permanente	Código EO 99
Proponent(s)	Entry into Force	Date of Issuance	N.º DOC	FL
D.S.B.	01/01/2010	31/12/2009	23/2009	1/4

Subject: Regulation on the Submission of Periodic Reports

The Central Bank, exercising the powers conferred by letters d), f) and g) of Article 38.º of its Organic Law;

Considering that financial institutions are required to prepare balance sheets and periodic reports containing information on administrative and operational status, liquidity, solvency, and profitability, in accordance with Article 40.º of the Financial Institutions Law;

Given that it is the Central Bank's responsibility to establish the framework and periodicity of these reports, it determines:

Article 1.º
Subjects (Applicable Entities)

Banks authorized to operate in São Tomé and Príncipe must submit the information required by the Central Bank on the dates fixed in this regulation.

Article 2.º
Information

1. The monthly balance sheet, in its analytical form, must be submitted to the Central Bank by the 10th day of the following month.

2. By January 20, April, July, and October of each year, banks must submit to the Central Bank a “Quarterly Financial Condition Report”, containing information on operational status, liquidity, solvency, and profitability to allow assessment of stability and trends in the financial evolution of banks.

3. The Quarterly Financial Condition Report replaces, for legal purposes, the information required by Regulation 2 on Solvency Ratio, Regulation 3 on Risk Concentration, and Regulation 9 on Accounting Elements to be submitted.

4. Annually, by January 20, banks must also submit to the Central Bank their annual balance sheet and income statement, both in analytical form.

Article 3.º
Exceptions

The statements for calculating minimum cash reserves and liability coverage remain regulated by their own normative (NAP) and are not subject to this general regulation.

Article 4.º
Data Format

1. Banks must submit the aforementioned information electronically or magnetically, in a format established by the Central Bank.

2. For monthly balance sheets, analytical balance sheets, and income statements, banks may report the account code, account name, and final account balance.

3. Banks are not authorized to include new accounts or sub-accounts in the information submitted to the Central Bank, but are authorized to exclude accounts with a zero balance on the date of statement preparation.

Article 5.º
Financial Statements

1. Financial statements submitted at the end of the financial year shall be considered provisional until audited by an independent entity and approved by management.

2. The financial statements for the year must be submitted duly signed, at least by the director responsible for the accounting area and by a legally qualified accounting professional, identified by stamps and registration numbers, if applicable.

Article 6.º
Submission Deadline

1. Four months after the end of the financial year, banks must submit to the Central Bank the management-approved financial statements, the annual publication report, the audit report, the auditors' opinion, and the auditors' letter to management.

2. Whenever the established deadline falls on a non-working day, the submission period is extended to the next working day.

Article 7.º
Submission of Incorrect Information

1. Information submitted with errors will be returned to the submitting bank and considered not delivered for compliance purposes regarding established deadlines.

2. Resubmission of documents after the deadline is considered a late delivery.

3. Resubmission or replacement of the aforementioned documents after the regularly established deadline must be made via the same electronic or magnetic medium and accompanied by a letter signed by the director responsible for the area, indicating the items or accounts that were altered, the previous value, the current value, and detailed reasons for the changes.

Article 8.º
Penalties

1. Submission or replacement of the information established in this document after the deadline for remittance subjects banks to a monetary fine.

2. The monetary fine shall be Dbs. 2,450,000 (two million four hundred and fifty thousand dobras), equivalent to Eur 100 (one hundred euros) per day of delay and per document, up to a maximum equivalent to Dbs. 83,300,000 (eighty-three million three hundred thousand dobras), equivalent to Eur 3,400 (three thousand four hundred euros).

3. For penalty purposes, the Quarterly Financial Condition Report is considered a single document.

4. If documents are not delivered within the period that accumulates the maximum fine, the Central Bank shall immediately initiate an administrative process subjecting the bank and its directors to penalties established in Article 42.º of the Financial Institutions Law.

5. The fine amount shall be calculated based on days of delay, counted continuously, from the day following the due delivery date up to and including the actual delivery date.

6. The fine amount shall be debited directly from the bank's current account held at the Central Bank, no earlier than three working days after the regularization date.

Article 9.º
Revocation

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

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.

BANCO CENTRAL DE S. TOMÉ E PRÍNCIPE

BANCO CENTRAL DE S.T.P.	NAP Norma de Aplicação Permanente	Código EO 99
Proponent(s)	Entry into Force	Date of Issuance	N.º DOC	FL
D.S.B.	01/01/2010	31/12/2009	24/2009	1/4

Subject: Regulation on Exchange Houses

The Central Bank of São Tomé and Príncipe, exercising the competence attributed by Articles 31.º, 32.º and 34.º of its Organic Law and combined with paragraph 1 of Article 1.º of Decree-Law No. 32/99;

Considering that paragraph 1 of Article 6.º and Article 8.º of Decree-Law 32/99 grants the Central Bank, as the country's exchange authority, powers to regulate the functioning of the foreign exchange market, supervise authorized institutions engaged in foreign exchange trade, and audit foreign exchange operations;

Considering further the need to foster transparency in the national foreign exchange market, thereby enabling assessment and management of foreign exchange risk for authorized institutions through supervision of all national foreign exchange holdings;

Considering equally that the exercise of foreign exchange trade depends, consequently, on a specific prior authorization from the Central Bank, which will set for each authorized entity the conditions and limits of such exercise;

It determines the following:

Article 1.º
Object (Scope)

1. Exchange houses are financial institutions whose exclusive object is the purchase and sale of foreign banknotes and coins, including other means of payment for travel.

2. Accessorily, exchange houses may purchase gold and silver, in coin or unworked form, as well as coins for numismatic purposes.

3. The regime defined for banks and other credit institutions applies to exchange houses regarding the purchase and sale of gold and silver, in coin or unworked form.

Article 2.º
Form, Name and Other Requirements

1. Exchange houses must satisfy the following requirements:
   a. Adopt the form of a public limited company or a limited liability company; b. Include the expression “agency or exchange house” in their corporate name;
   c. Fulfill other conditions depending on the authorization and exercise of financial institution activities.

2. Exchange houses adopting the form of a public limited company must have exclusively registered shares, and any alteration must be approved by the Central Bank.

3. Without prejudice to the preceding paragraph, any alteration in the corporate structure of the company, regardless of the adopted form, must be preceded by authorization from the Central Bank of São Tomé and Príncipe.

Article 3.º
Formalities

1. Exchange houses require prior authorization from the Central Bank for their establishment, which will consider reasons of legality, opportunity, and convenience.

2. A guarantee deposit is required, with the respective certificate attached to the authorization request.

3. Exchange houses are subject to the formalities required by the Financial Institutions Law that do not directly contradict this regulation and are compatible with their nature.