This is the version of this Government Notice as it was from 15 November 2017 to 14 December 2017. Read the latest available version.
Related documents
Banking Institutions Act, 1998
Regulations relating to Fees payable to Bank of Namibia, 2009
Government Notice 234 of 2009
- Published in Government Gazette 4386 on 1 December 2009
- Commenced on 31 December 2010
- [This is the version of this document as it was at 15 November 2017 to 14 December 2017.]
- [Note: The version of this legislation as at 15 November 2017 was revised and consolidated by the Legal Assistance Centre and the Government of the Republic of Namibia. All subsequent amendments have been researched and applied by Laws.Africa for NamibLII.]
1. Definitions
In these regulations a word or expression defined in the Act has the same meaning, and -“NISS” means Namibia Inter-bank Settlement System as defined in the Directive on the Conduct of EFT Transactions within the National Payment System (PSDIR-1) issued under the Payment System Management Act, 2003 (Act No. 18 of 2003); and“the Act” means Banking Institutions Act, 1998 (Act No. 2 of 1998);2. Fees payable in respect of applications, authorizations and approvals
The fees payable to the Bank are -(a) | for an application for authorization to establish a banking institution in terms of section 10 | N$10 000; |
(b) | for an authorization fee in terms of section 11(6) | N$5 000; |
(c) | for an application for approval of a representative office in terms of section 19 | N$5 000. |
3. Annual fees payable by authorised banking institutions
4. Methods of payment of fees
5. Penalty for late payment of fees
The penalty payable in terms of section 13(4) of the Act, in respect of every month or part thereof which the annual fees remain unpaid, must be calculated at a rate equal to 10% of the total annual fees payable by the banking institution concerned, and calculated from the final date upon which such annual fees became payable up to the date of the actual payment thereof.History of this document
15 November 2017 this version
Consolidation
31 December 2010
Commenced
01 December 2009
Cited documents 2
Act 2
1. | Banking Institutions Act, 1998 | 224 citations |
2. | Payment System Management Act, 2003 | 49 citations |