A Laws.Africa project
27 July 2020

Namibia Government Gazette dated 2020-07-27 number 7286

Download PDF (186.1 KB)
Page 1
                   GOVERNMENT GAZETTE
                                                          OF THE

                      REPUBLIC OF NAMIBIA
N$6.00                                        WINDHOEK - 27 July 2020                                                       No. 7286

                                                          CONTENTS
                                                                                                                                   Page
GOVERNMENT NOTICE

No. 159    Designation of activities of multi-level marketing business practices as activities not included as
           pyramid schemes under section 55A: Banking Institutions Act, 1998 ...................................................      1
                                                     ________________


                                           Government Notice
                                               MINISTRY OF FINANCE

No. 159                                                                                                                            2020

          DESIGNATION OF ACTIVITIES OF MULTI-LEVEL MARKETING BUSINESS
                PRACTICES AS ACTIVITIES NOT INCLUDED AS PYRAMID
           SCHEMES UNDER SECTION 55A: BANKING INSTITUTIONS ACT, 1998

Under subsection (1)(c)(ii) of section 55A of the Banking Institutions Act, 1998 (Act No. 2 of 1998),
on the recommendation of the Bank of Namibia, I designate the activities of multi-level marketing
business practices as activities which are not included as pyramid schemes under that section, subject
to the conditions specified in the Schedule.

I. SHIIMI
MINISTER OF FINANCE                                                                                    Windhoek, 14 July 2020

                                                         SCHEDULE

Definitions

        1.      In this notice a word or an expression to which a meaning has been assigned in the
Act has that meaning, and unless the context otherwise indicates -

Page 2
Download full gazette PDF