AMENDMENTS TO THE INVESTMENT LAW
Decree No. 20/2021, of 13 April – Amendments to the Investment Law Regulation approved by Decree No. 43/2009, of 21 August.
AMENDMENTS TO THE PRIVATE INVESTMENT LAW
The Angolan Parliament recently enacted Law 10/21, of 22 April 2021 (“Law 10/21”), approving several important amendments to the existing Private Investment Law (“PIL”), enacted by Law 10/18, of 26 June 2018.
PORTUGUESE DATA PROTECTION AUTHORITY ORDERS THE SUSPENSION OF DATA TRANSFERS TO THE UNITED STATES
The decision of the Portuguese Data Protection Authority On 27 April 2021, the Portuguese Data Protection Authority (Comissão Nacional de Proteção de Dados – CNPD) issued a Deliberation (only available in Portuguese) addressed to the National Statistics Institute (Instituto Nacional de Estatística – INE) ordering this entity to suspend, within 12 hours, all data transfers …
U-SPACE PACKAGE
The European Commission adopted the U-space package.
NEW FOREX REGIME FOR NON-ASSOCIATED NATURAL GAS AND DERIVATIVES
Pursuant to the provisions of the Foreign Exchange Law for the Petroleum Sector [approved by Law 2/12, of 13 January 2021 (“FELPS”)], the National Bank of Angola (“BNA”) has recently published Order 3/2021, of 1 April 2021 (“Order”), which establishes the new foreign exchange regime applicable to the entities engaged in the prospecting, exploration, appraisal, …
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EXCHANGE POLICY
The National Bank of Angola (“BNA”) recently published, in the use of its powers, the following pieces of legislation:
NEW VOLUNTARY ARBITRATION REGIME
Law no. 6/2021, of 31 March (“Law 6/2021”), which enacts the voluntary arbitration law (“VAL”) and for the first time amends the Code on Civil Procedure (“CCP”), was published in the Timor-Leste Official Gazette.
CONVENTION TO ELIMINATE DOUBLE TAXATION BETWEEN ANGOLA AND CABO VERDE
The Republic of Angola and the Republic of Cape Verde have signed, on August 8, 2019, in Luanda, a Convention to eliminate Double Taxation of Income Taxes and to avoid Tax Evasion (DTT).
NEW RULES FOR NON-PERFORMING EXPOSURES SECURITISATIONS AND SYNTHETIC SECURITISATION
Regulation (EU) 2021/557 and Regulation (EU) 2021/558, both of 31 March 2021, approved relevant amendments to the Securitisation Regulation and to the Capital Requirements Regulation, respectively, which entail material adjustments to the securitisation framework and are intended to support the economic recovery in response to COVID-19 crisis.
ONLINE REGISTRATION FORM FOR SUPPLIERS OF THE OIL SECTOR
The National Petroleum, Gas and Biofuels Agency (“ANPG”), the National Concessionaire for the Angolan oil sector, has recently made available the online registration form for the sector’s suppliers