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Angolan Central Bank (Banco Nacional de Angola) Notice no. 9/22 of 6 April was recently published to establish special schemes for mortgage credit and construction credit.
The new Notice establishes (i) the terms and conditions applicable to the this type of credit, (ii) the minimum requirements in terms of number and total value and (iii) the treatment in the calculation of the reserve requirements.
These exceptional measures have been published by the Government in the current macroeconomic and geopolitical situation.
Among the approved measures, the temporary protection status stands out.
The proposal for a directive on the recovery and resolution of insurance and reinsurance companies enshrines the no creditor worse off principle as provided for in the Bank Recovery and Resolution Directive (BRRD). This opens the door for the Portuguese legislature to repeat the mistakes it made when incorporating the BRRD into Portuguese law.
The Unshell Directive proposes a specific arrangements to combat the use of companies for tax avoidance or tax evasion purposes.
The publication of Decree-Law 15/2022 of 14 January (DL 15/2022) established the organisation and operation of the National Electricity System (Sistema Elétrico Nacional).
Presidential Decree 52/22 of 17 February was published recently to establish the Remote Working Legal Framework. The Decree regulates the performance of work done with legal subordination, usually outside the company and with the use of information and communication technologies.
The European Commission has released the long-awaited proposal for a directive on corporate sustainability due diligence.
Two significant new EU Regulations came into force on 28 January 2022. The first is Regulation (EU) 2019/4 of the Parliament and of the Council of 11 December 2018 on the manufacture, placing on the market and use of medicated feed (Medicated Feed Regulation). The second is Regulation (EU) 2019/6 of the Parliament and of the Council of 11 December 2018 on veterinary medicinal products (Veterinary Medicinal Products Regulation).
Regulation (EU) 536/2014 of the Parliament and of the Council of 16 April 2014 on clinical trials on medicinal products for human use came into force on 31 January 2022. The Regulation was adopted by the European Parliament in 2014 and released in May of the same year. It was subsequently officially published in the Official Journal of the European Union on 31 July 2021 and came into force six months after that date.
Under the Recovery and Resilience Programme, a set of investments and reforms aimed at restoring sustained economic growth after the pandemic was defined with several components: resilience, climate transition and digital transition.
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