Law No. 5/2011 Organic Law of the Central Bank of East Timor

Timor-Leste

(enacted in 2011)

This law defines Central Bank of Timor Leste is the regulator of banking system and succeeds the former regulator, East Timor Banking and Payment Authority,  to license and supervise financial institutions.

The law is organized as:

Chapter I General Provisions

Chapter II Nature, Head Office and Duties

Chapter III Capital, Reserve Accounts, Profits, Losses and Coverage of Capital Inadequacy

Chapter IV Monetary and Other Transactions

Chapter V Foreign Exchange Regime

Chapter VI Currency Unit

Chapter VII Payments, Supervision, Statistics and Other Functions of the Financial System

Chapter VIII Relations between the National Congress, the Government and the Bank

Chapter IX Organization and Operation

Chapter X Financial Statements, Reports, Audits and Budget

Chapter XI Supplementary Provisions

Chapter XII Final and Transitory Provisions