  
  
S/C/N/ 962 
16 October 2019  
(19-6724) Page: 1/2 
Council for Trade in Services  Original:  English  
 
  
NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE  
GENERAL AGREEMENT ON TRADE IN SERVICES  
The following notification, dated  12 October 2019 , from the delegation of Lesotho , is being circulated 
to Members of the Council for Trade in Services . 
 
_______________  
 
 
1  MEMB ER NOTIFYING : 
Lesotho  
2  NOTIFICATION UNDER : 
Article III:3 of the General Agreement on Trade in Services  
3  DATE OF ENTRY INTO FORCE : 
2018 
 
3.1  Duration:  
Indefinite  
 
4  AGENCY RESPONSIBLE FOR ENFORCEMENT OF THE MEASURE : 
Central Bank of Lesotho  
5  DESCRIPTION OF THE MEASURE : 
Measure :  
 
Financial Institutions (Financial Lease) (Amendment) 2018 Regulations  
 
Description :  
 
The principal law of these regulations is the Financial Institutions Act, 2012, that repealed and 
replaced the Finance Institutions Act, 1991, in order to provide the authorisation, supervision and 
regulation of banking and non -banking financial institutions and ancillary financial service providers 
and for related matters.  
 
The law grants the Commissioner of Finan cial Institutions enhanced investigatory powers against 
entities suspected to be conducting illegal banking or credit business without a valid license to do 
so. This makes it possible for the Commissioner to act swiftly and decisively against conduct treat ing 
the soundness of the domestic financial sector. It enhances the ability of the Commissioner to grant 
timely protection to depositors and customers against unlawful banking and credit business.  
 
6  MEMB ERS SPECIFICALLY AFFECTED, IF ANY : 
None S/C/N/9 62 
- 2 - 
  7  TEXTS AVAILABL E FROM : 
Enquiry point:  
https://www.centralbank.org.ls/index.php/legislation  
 
 
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