What investors need to know about the new Mozambican Credit Institutions and Financial Companies Law
On 31 March 2021, the new Mozambican Credit Institutions and Financial Companies Law no. 20/2020, of 31 December 2020, will come into effect. This new law is in response to the demand for a banking regulation that forces national banking entities to act in the best interest of their clients, by complying with contractual obligations in a rigorous manner.
What prompted the new law? What changes does the law introduce?
The Legal Atlas for Street Children | – Consortium for Street Children
RSA LP Angola/ AV&A has participated following the invitation of the international law firm Baker McKenzie, in the preparation of the Legal Atlas on the rights of street children in Angola for the international NGO “Consortium for Street Children”.
This Legal Atlas is a tool that can be consulted online at The Legal Atlas for Street Children | – Consortium for Street Children and will serve as a guideline for the United Nations (UN) in identifying national laws and policies that can be created or amended to improve the situation of street children around the world.
This pro bono project for Angola was led by the partner in charge of the International Operations at RSA LP, Pedro Gonçalves Paes, with the collaboration of the Angolan lawyers Miguel Matias, the partner in charge of Criminal Law department, and the principal associate lawyer Andreia Gonçalves Costa.
RSA-LP today announced it has joined Nextlaw Referral Network, enabling it to connect its clients to high-quality lawyers around the world. Nextlaw Referral Network is the largest legal referral network in the world, with more than 650 member firms, 30,000 lawyers covering 200+ countries.
Pedro Gonçalves Paes, RSA LP’s partner said, “By joining Nextlaw Referral Network, we can now provide our clients with the best of all worlds by continuing to serve them where we currently have offices, while also being able to direct them to top tier lawyers in other jurisdictions where they need legal counsel and business advice. We can build on our trusted relationships with our clients by putting the full resources of the global, legal powerhouse at their disposal.”
Paul Hatch, Nextlaw Referral Network CEO said, “We’re proud to have RSA LP)as part of our network. We’re only as good as the quality of our member firms and RSA LP makes us stronger and better able to meet the needs of our other members’ clients in Portuguese speaking countries across the globe.
Nextlaw Referral Network was created by Dentons, the largest law firm in the world. The network, which is free to join, employs a detailed screening system to guarantee the quality of its member firms and has developed proprietary technology to allow members to identify lawyers at other member firms with the appropriate experience where clients need legal counsel.
RSA – Raposo Subtil e Associados founded the Rede de Serviços de Advocacia de Língua Portuguesa – Network of Portuguese Speaking Legal Services (RSA LP), which is an innovative network of associated ﬁrms of lawyers and legal oﬃces, working in partnership in 5 Portuguese speaking countries (Portugal, Angola, Brazil, Cape Verde and Mozambique). RSA LP works with solid and experienced teams in the Portuguese speaking market, providing a legal consultancy with international standards of excellence both within and outside those markets.
This competitive agility is a result of their leadership in complex operations and litigation, and their understanding of business models in diverse areas and diﬀerent jurisdictions, aﬃrming their ambition with a global model of legal services.
Nextlaw Referral Network is the client-focused legal referral network created by Dentons, the world’s largest law firm. Nextlaw Referral Network is the largest legal network in the world. It’s free to join, open to all high-quality law firms regardless of size and does not grant geographic exclusivity to its members. This enables the network to connect clients of member firms to the best lawyers with the appropriate experience in the locations where clients need legal counsel.
The network utilizes a proprietary technology platform to help member firms research, contact and rate the performance of network members in order to guarantee that clients receive the highest quality legal advice and business solutions.
Dentons is the world’s first polycentric global law firm. A top 10 firm on the Acritas 2018 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients with a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully complete a deal, resolving a dispute or solving a business challenge.
Now the world’s largest law firm, Dentons’ global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 165 locations serving 60-plus countries.
RSA changes it’s Image
As a legal firm, Raposo Subtil e Associados (RSA) works to provide a complete and integrated service, developed through its Network of Portuguese-Speaking Legal Services (RSA-LP).
Since 1997, Raposo Subtil e Associados was been establishing its position by consolidating its practice with a global model of legal services in different jurisdictions, to build a more efficient relationship with its clients.
Its identity is established, but after twenty years, the firm’s corporate image needed to be renewed to show its close connection with the Network of Legal Services it has founded and to continue its great activity in the Portuguese-speaking space.
Today, we are presenting a different image with a general rebranding and a new logo, but still keeping the blue of the oceans that has always guided us and led us to an understanding of other legal systems and cultures.
To reinforce our commitment, we are announcing the strategic priority reflected in our motto: “If it is important for you, it is very important for us”!
This publication is the result of changes made to the Government’s Capitalizar Programme, whose main objective was to re-launch the Portuguese economy and which prioritised the amendment of the Commercial Companies Code (CSC) and the Insolvency and Corporate Recovery Code (CIRE).
On 1st July 2017, Decree-Law No. 79/2017 of 30th June came into force, with a series of amendments to the insolvency system and the PER, whose access was reviewed and made only admissible for companies, with an identical system now available for private individuals: the new Special Procedure for Payment Agreements (PEAP).
The provisions in the CIRE were also harmonised with the provisions of the current Civil Procedure Code, particularly for the disposal of assets from insolvent estates, which is now done preferably by electronic auction, and the presentation of claims by creditors, endorsed by a lawyer, which are submitted to the Insolvency Administrator through the electronic transmission of data in accordance with Government Ruling No. 267/2018, of 20th September.
Amendments were also made to adapt the CIRE to current legislation in the European Union, particularly the provisions of the EU Regulation No. 2015/848 of the European Parliament and Council, of 20th May.