Financial Institutions (Minimum Local Assets Requirements) (Amendments) Regulations 2002

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Number of SL: 
1
Date of promulgation: 
04 January 2002
In-force: 
Yes

 

 

LEGAL NOTICE NO.1 OF 2002

Financial Institutions (Minimum Local Assets Requirements) (Amendment) Regulations 2002

In exercise of the powers conferred by sections 23 and 25 of the Financial Institutions Act 1999*, the Commissioner makes the following Regulations-

Citation

1.               These Regulations may be cited as the Financial Institutions (Minimum Local Assets Requirements) (Amendments) Regulations 2002.

Objectives

2.               The Financial Institutions (Minimum Local Assets Requirements) Regulations 20002 (hereinafter referred to as “the Principal Regulations”) are amended in regulation 3 (a) by deleting “40%” in the second line and substi­tuting “25%”.

Local Assets Ratio

3.               The Principal Regulations are amended in regulation 5 (1) by deleting “forty percent (40%)” and substituting “twenty - five percent (25%)”.

ESSELEN MOTLATSI MATEKANEGOVERNOR, CENTRAL BANK OF LESOTHO

Act No.6 of 1999 L.N. No. 214 of 2000