Regulatory Instruction No. 21/2018 – Extension of Temporary Suspension of Licensing for Foreign Exchange Operations on Goods Imports — BNA — AO

REGULATORY INSTRUCTION NO. 21/2018 of December 11 SUBJECT: FOREIGN EXCHANGE POLICY

Extension of the Temporary Suspension of Licensing for Foreign Exchange Operations on Goods Imports
Considering the need to extend the term of the temporary suspension of the licensing obligation by the National Bank of Angola for operations on goods imports that remain to be settled 360 (three hundred and sixty) days after the date of customs clearance for unloading; In exercise of the powers conferred upon me under the combined provisions of paragraph 2 of Article 28 of Law No. 5/97, dated June 27 - Foreign Exchange Law, and of Articles 40 and 51, both of Law No. 16/10, dated July 15 - Law of the National Bank of Angola. I HEREBY DETERMINE:

Term of the Temporary Suspension of the Licensing Obligation
1.1. Goods import operations awaiting settlement,
whose customs clearance for unloading is more than 360 (three hundred and sixty) days old, are exempt from prior licensing by the National Bank of Angola, as provided in Article 5 of Notice No. 05/18, dated July 17.
1.2. Banking financial institutions must verify the legitimacy
of operations, through verification of supporting documentation prior to their settlement.

CONTINUATION OF REGULATORY INSTRUCTION NO. 21/2018 Page 2 of 2
1.3. The provisions established in paragraph 1 of this Instruction
remain valid until December 31, 2019.
1.4. Prior licensing by the National Bank of Angola, under
Decree No. 23/98 dated July 24 regulating capital operations, applies to loan and other credit contracts concluded between foreign suppliers and goods importers.
2. Sanctions
Non-compliance with the provisions of this Instruction constitutes an offense provided for and punishable, under Law No. 5/97 dated June 27 - Foreign Exchange Law and Law No. 12/15, dated June 17 – Law of the Bases of Financial Institutions.
3. Doubts and Omissions
Doubts arising from the interpretation and application of this Instruction are resolved by the National Bank of Angola.
4. Entry into Force
This Instruction enters into force on the date of its publication. LET IT BE PUBLISHED. Luanda, December 11, 2018.

THE GOVERNOR
JOSÉ DE LIMA MASSANO

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Issued under

Lei n.º 5/97, de 27 de Junho — Lei Cambial (Foreign Exchange Law)1997 · AO-LAW
“In exercise of the powers conferred upon me under the combined provisions of paragraph 2 of Article 28 of Law No. 5/97, dated June 27 - Foreign Exchange Law”
Law No. 16 dated 2010-07-15Not in RegAlert
“and of Articles 40 and 51, both of Law No. 16/10, dated July 15 - Law of the National Bank of Angola.”

Mentions (1): 1 document this one mentions without changing it

Common references

Lei n.º 12/15, de 17 de Junho — Lei de Bases das Instituições Financeiras (Law on the Basis of Financial Institutions)2015 · AO-LAW · cited by 155 BNA documents
“Non-compliance with the provisions of this Instruction constitutes an offense provided for and punishable, under Law No. 5/97 dated June 27 - Foreign Exchange Law and Law No. 12/15, dated June 17 – Law of the Bases of Financial Institution…”