STATUTORY INSTRUMENTS 2005 No. 41.

THE FINANCIAL INSTITUTIONS (LICENSING) REGULATIONS, 2005

ARRANGEMENT OF REGULATIONS

Regulation

Part I—Preliminary

1. Title.
2. Application.
3. Interpretation.
4. Objectives.

Part II—Licencing Requirements

5. Licencing criteria.
6. Capital adequacy.
7. Ownership structure.
8. Directors and officers.
9. Overall viability.
10. Supervision.

Part III—Licencing Procedures

11. Application for a licence.
12. Information and supporting documents.
13. Acknowledgment.
14. Processing of applications.

Regulation

15. Notice of decision.
16. Changes.

Part IV—Licence Fees And Other Requirements

17. Payment of licence fee.
18. Duration and display of licence.
19. Restriction and amendment of licence.
20. Update of information.
21. Notice of appointment.

SCHEDULES

SCHEDULE 1—APPLICATION FOR A LICENCE TO ESTABLISH A FINANCIAL INSTITUTION

SCHEDULE 2—INFORMATION SHEET

SCHEDULE 3—PERSONAL DECLARATION FORM

SCHEDULE 4—DECLARATION BY THE CHAIRPERSON OF A FINANCIAL INSTITUTION ON APPOINTMENT OF A NEW DIRECTOR.

STATUTORY INSTRUMENTS

2005 No. 41.

The Financial Institutions (Licensing) Regulations, 2005.

(Under section 131 (1) (b) of the Financial Institutions Act,

Act No. 2 of 2004)

In exercise of the powers conferred on the Central Bank by section 131 (1) (b) of the Financial Institutions Act, 2004, these Regulations are made this 16th day of February, 2005.

Part I—Preliminary

1. Title

These Regulations may be cited as the Financial Institutions (Licensing) Regulations, 2005.

2. Application

These Regulations apply to all financial institutions in Uganda.

3. Interpretation

In these Regulations, unless the context otherwise requires—

“Act” means the Financial Institutions Act, 2004.

4. Objectives

The objectives of these Regulations are—

1. to promote the development of a strong and viable financial sector in

order to enhance economic growth in Uganda;

2. to establish clear and objective criteria for reviewing applications to

engage in financial institution business and to outline the procedures to be followed in the licensing process;

3. to ensure that all financial institutions operating in the Uganda financial

sector have adequate financial strength, management and the integrity required to operate a financial institution in a sound and prudent manner; and

4. to put in place an effective method of reducing the risk of entry of

unviable financial institutions into the Uganda financial sector.

Part II—Licensing Requirements

5. Licencing criteria

In evaluating an application for a licence to conduct financial institution business in Uganda, the Central Bank shall follow the criteria prescribed in section 11 of the Act and these Regulations.

6. Capital adequacy

1. The applicant’s capital shall be adequate to support the projected volume and type of services planned in a highly competitive environment.
2. An applicant proposing to transact financial institution business as a bank, shall have a minimum paid up cash capital of not less than Uganda shillings four billion.
3. An applicant proposing to transact business as a non-bank financial institution, shall have a minimum paid up cash capital of not less than Uganda shillings one billion.
4. An applicant for a licence under the Act shall demonstrate the ability to maintain its capital funds, unimpaired by losses at the prescribed minimum amount at all times and to comply with the ongoing capital adequacy ratio in accordance with sections 26 and 27 of the Act and the Financial Institutions (Capital Adequacy Requirements) Regulations, 2005.

7. Ownership structure

1. There shall be sufficient transparency in the ownership structure of the proposed financial institution so as to enable the Central Bank to evaluate the institution’s substantial, direct and indirect shareholders and its corporate affiliations in compliance with section 18 of the Act.
2. The Central Bank shall review the substantial shareholders’ past banking and non- banking business ventures and their integrity and standing in the business community, as well as the financial strength of all the substantial shareholders and their ability to provide further financial support, should it be needed.
3. An application, in which one of the substantial shareholders does not satisfy the fit and proper person criteria as determined by the Central Bank under section 19 and the Third Schedule to the Act, shall be rejected.
4. The source of the initial capital to be invested and that of any future funding shall be disclosed to the Central Bank, as well as the percentage shareholding of each shareholder.

8. Directors and officers

1. The applicant shall prove, to the satisfaction of the Central Bank, that the applicant’s management satisfies the fit and proper criteria set out in the Third Schedule to the Act.
2. The directors and officers shall have qualifications at a level, which shall enable them to conduct business competently and competitively with existing financial institutions and in compliance with section 53 of the Act and should not possess any of the disqualifications under section 120 of the Act.
3. The applicant shall prove, to the satisfaction of the Central Bank, that the financial institution’s business is or shall be directed by at least two executive directors knowledgeable in the manner in which the institution’s longer term strategy is pursued in practice, having the ability to influence the institution’s policies and able to effectively direct the business of the institution.

9. Overall viability

1. In addition to the considerations specified in regulations 5 to 8, the Central Bank shall further take into account the following—

1. the intentions of the applicant with regard to its overall contributions to Uganda’s economic development, including its plans to bring banking

or financial services to rural areas where the services have been inadequate;

2. the expected role for the proposed institution in meeting identified needs

for a particular area or sector of the economy to be served by it through a carefully conceived strategy shall receive favourable consideration;

3. the overall strategy of the applicant for succeeding in the market

developed into a business plan sufficiently robust to support a comprehensive review and viability analysis.

2. The business plan in sub-regulation (1) (c) shall—

1. include detailed financial projections which demonstrate medium-term

viability and sufficient information on the financial resources of the founders to support the institution;

2. describe how the institution is to be organised and controlled internally

and shall include a description of comprehensive risk management systems for credit, liquidity, foreign exchange, interest rate, operational and other risks; and

3. disclose the applicant’s current and contemplated future policy with

regard to the payment of dividends.

10. Supervision

(1) The applicant shall ensure that there are no factors, such as unavailability or inadequacy of information and lack of transparency, which may hinder the conduct of investigations after the submission of its application or inhibit effective supervision after the issuance of a licence.

2. With respect to foreign applicants, a level of co-operation between the Central Bank and the home country supervisor shall need to be established to permit the conduct of consolidated supervision.

Part Ill—Licensing Procedures

11. Application for a licence

1. An application for a licence shall be made in duplicate, in the form set out in Schedule I and shall be accompanied by the supporting documents specified in regulation 12.
2. An application for a licence must specify the class of licence being applied for and other activities that may fall under other classes of licence, which the applicant intends to carry out.
3. A non-refundable application fee of Uganda shillings one million for banks, and Uganda shillings five hundred thousand for non-bank financial institutions shall accompany each application for a licence.

12. Information and supporting documents

1. Each application for a licence shall be accompanied by the following supporting documents—

1. an information sheet for the applicant and for each of its substantial shareholders (if corporate), subsidiaries or affiliates in the form set out in schedule 2;
2. a personal declaration form for each of the proposed directors, officers

and substantial shareholders ( if natural persons) in the form set out in Schedule 3;

3. individual credit references for the applicant and each of the substantial

shareholders, directors and officers from his or her bankers;

4. proposed capital structure of the financial institution;
5. a business plan and financial projections for at least three years (including

the assumptions underlying the projections and a sensitivity analysis of the plan on varying assumptions);

f) the Certificate of Incorporation;

7. the Memorandum and Articles of Association;
8. with respect to foreign applicants, a statement from the supervisory

authority of the home country declaring that it has given prior approval or a “No objection” for the establishment of a subsidiary or any other office in Uganda, and that the applicant’s chairperson, directors, managers and substantial shareholders as a whole, are fit and proper persons within the meaning of the Act;

1. existing financial institutions and companies which have been engaged in

other businesses before applying to do financial institution business, should provide certified copies of audited financial statements for the past three years prepared in accordance with generally accepted accounting principles;

(j) if the most recent audited accounts are more than six months out of date, they should be accompanied by management accounts (which need not be audited) showing the current financial position and the current results of the institution;

(k) a certified copy of the resolution of the Board of Directors, authorising the preparation and submission of the application;

1. any other information relating to the viability of the proposed institution

or other matters which the applicant may consider relevant; and

(m) any other information which the Central Bank may request the applicant to provide.

2. The submission of any untrue or misleading information shall render the applicant a person not fit and proper and shall constitute sufficient grounds for rejection of the application or revocation of the licence, where a licence has been granted, in accordance with sections 10 (8) and 17 (h) of the Act.

13. Acknowledgment

1. Upon receipt of an application form together with the requisite application fee and supporting documents in accordance with regulations 11 and 12, the Supervision Function of the Central Bank shall, within ten days, send the applicant a formal letter of acknowledgement or a letter of deficiency in accordance with subregulations (2) or

3. , as the case may be.

2. A letter of acknowledgement shall constitute official notice that the documents submitted were found to be complete and that the processing or evaluation may commence.
3. A letter of deficiency shall outline deficiencies in the application, provide a deadline for rectification of the deficiencies and no further action shall be taken by the Central Bank unless the deficiencies are rectified within the period prescribed.

14. Processing of applications

1. The Central Bank shall, within six months after receipt of a complete application and in accordance with section 12 of the Act, investigate and prepare a detailed report in respect of each application.
2. The report shall indicate the decision of the Central Bank to—

1. grant the licence if it is satisfied that the application satisfies the

requirements of the Act and these Regulations;

2. grant the licence subject to the fulfillment of certain conditions that it

may deem necessary;

3. grant the applicant a limited licence covering only part of the financial

institution business for which it is satisfied that the applicant meets the

requirements of this Act; or

4. refuse to grant the licence for reasons that shall be stated in the notice of

decision or letter of refusal.

15. Notice of decision

1. The Central Bank shall inform the applicant, in writing, of its decision to grant or refuse to grant the licence.
2. A notice communicating the decision not to grant a licence shall state the grounds upon which it is based.
3. Where the Central Bank decides to grant a licence, it shall, in the notice communicating the decision to grant a licence, require the applicant to submit, within a period of two weeks after the date of receipt of the notice, a certificate of deposit in the name of the applicant indicating that it has deposited or invested an amount not less than the required minimum paid-up capital in such accounts or assets approved by the Central Bank, before a licence can be issued.
4. Notwithstanding the issuance of a licence, no financial institution shall open for business without prior clearance from the Central Bank which shall conduct a pre-opening inspection of the proposed premises to confirm the adequacy of the premises for the proposed business, strongroom and vault and the existence of a security system, electronic equipment and communication facilities suited to the type of financial institution concerned.
5. Successful applicants shall further be required to—

1. provide the Central Bank with complete operating manuals covering

policies and procedures on loans, investments, deposits, foreign

exchange and other major operations of the financial institution;

2. provide information regarding risk management policies and procedures

covering credit, liquidity, interest rate, foreign exchange and

operational risks;

3. provide information regarding management information systems,

description of sample forms, reports and schedules;

4. provide any other documents or information, which the Central Bank may

require; and

5. pay the licence fee prescribed by the Central Bank under section 13 of the Act within fourteen days of receipt of the notice of decision to licence the applicant.

6. Any person aggrieved by a decision of the Central Bank refusing to grant him or her a licence may, in accordance with section 12(9) of the Act, appeal to the High Court against the decision within thirty days after being notified of the decision.

16. Changes

Any material changes, such as in the composition of directors or board members, directors, officers or shareholders, or in the capital structure while the application is being processed or after the granting of a licence but before commencement, shall be duly notified to the Central Bank as soon as possible, but in any event, not later than twenty one days after the day the changes come to the attention of the financial institution.

Part IV—Licence Fees And Other Requirements

17. Payment of licence fee

An initial licence fee prescribed by notice of the Central Bank shall become due and payable soon after notification of the decision to grant a licence and thereafter an annual fee prescribed from year to year by the Central Bank shall be payable on or before the 31st day of January each year in accordance with section 13 of the Act until the licence is revoked.

18. Duration and display of licence

(1) A licence granted under the Act and these Regulations shall remain valid until revoked by the Central Bank.

2. A licence granted under section 12 of the Act and regulation 14 shall, at all times, be displayed in a conspicuous place at the head office of the concerned financial institution, and copies of it shall be similarly displayed in a conspicuous place at each of its branch offices.

19. Restriction and amendment of licence

(1) A financial institution shall not engage in any other business other than the business specified in its licence.

2. The Central Bank may, after giving reasonable notice to a licensed financial institution, restrict or amend the terms and conditions of any licence issued under the Act.

20. Update of information

Every financial institution shall submit to the Central Bank an updated Information Sheet as set out in Schedule 2, not later than the 31st day of January each year.

21. Notice of appointment

1. Every financial institution shall ensure that the Central Bank is notified of every proposed appointment of a director in accordance with section 53(1)(e) of the Act.
2. Notification in sub-regulation (1) shall be accompanied by the chairperson’s declaration as set out in Schedule 4.
3. A person intending to become a director of a financial institution shall notify the Central Bank in writing of his or her proposed appointment by submitting a pers onal declaration form set out in Schedule 3.
4. Every financial institution shall submit a personal declaration form as set out in schedule 3 for each subsequent proposed director.
5. A proposed director shall not assume any duties in a financial institution without approval of his or her appointment by the Central Bank.

SCHEDULES

SCHEDULE 1

regulation 11

application for a licence to establish a financial institution

(To be submitted in duplicate)

The Governor,

Bank of Uganda P.O Box 7120,

KAMPALA

1. I, the undersigned, acting as principal/promoter/in the capacity of duly authorised agent

on behalf of ................................................................ , a Company incorporated under the

Companies Act, CAP. 110 Laws of Uganda ("the principal"), hereby apply for a licence in terms of section 10 of the Financial Institutions Act, 2004 to establish a financial

institution to carry on the business(es) specified in class(es)**......................................................

pursuant to section 10(3) and the Second Schedule to the Financial Institutions Act, 2004.

2. I submit the documentation specified in section 10 of the Act and regulation 12 of the Financial Institutions (Licensing) Regulations, 2005.

Date                                                             Applicant

Applicant’s address/ Tel.                       Principal’s address/Tel.

Certification and Undertaking

I, the undersigned, ......................................................... hereby certify that all information contained

in and accompanying this application is complete and accurate to the best of my knowledge and belief.

1. 

undertake to forthwith notify the Bank of Uganda, of any material change in the particulars of this application.

Signature of Deponent                                 Principal/Promoter/Agent

Deponent understands the contents of this declaration.

Before me,_________________________                                                                  

COMMISSIONER FOR OATHS

Note: **List all the types of business activities in which you propose to engage.

SCHEDULE 2

Regulations 12 (1) (a) and 20

INFORMATION SHEET

1. Name:
2. Former name(s)(if any) by which the applicant has been known:
3. Any name the applicant proposes to use for purposes of or in connection with any business carried on by it, including any name the applicant is or will be obliged to disclose in connection with any business carried on by it by virtue of the Business Names Registration Act (Cap. 109 Laws                                                                                            of

Uganda)........................................................................................................

4. Principal business activities:
5. Head/main office:

1. Address:
2. Telephone No:
3. Telefax No:

6. Branches:

address:                                                     Date approved and

date opened

Subsidiaries & Affiliates:

Name and type of                    Amount of shares % of shares held

business                                      held                                    to total

7. Management:

1. Board of Directors;

Name:                  Designation Present term No. of years as

board member

Board Committees

Name and purpose of committee(s): Name of members:

2. Officers:

Name:                          Position:

8. Ownership Profile:

Name   Country of                              Residence Paid up capital %

citizenship

1. ..............................................................................................................
2. ...............................................................................................................

   3......

   4......

other shareholders owing less than 5% (Number............................... )

TOTAL                                                                   .........................................

9. Organisation Profile:

1. Organisation chart— attach one indicating major departments or divisions with names, positions and titles of officers heading each department or division.
2. Functions— attach a list of functions or responsibilities for each Department or division listed in the organisation chart indicating the number of personnel or staff for each.
3. Qualifications of substantial shareholders, directors and officers.
4. Annex Personal Declaration Form of each substantial shareholder, director and officer and an Information Sheet for each substantial corporate shareholder.
5. Powers and purposes—attach the latest copies of the Memorandum and Articles of Association if not previously submitted to the Central Bank.

10. Shareholding in any other Financial Institution:

Name of financial shares                                owned % of                               institution

amount                 number capital

QUESTIONNAIRE ( FOR APPLICANTS ONLY)

11. Name(s) and address(es) of the applicant’s bankers within the last ten years.(Please also indicate the applicant’s principal bankers)..........................................................................................................
12. Name and address of the applicant’s external auditors. Please give particulars of any body you may have given authority to carry on any business activity in Uganda or elsewhere. If any, give particulars. If any such authority has been revoked, give particulars, including the name and professional qualification of the partner’s who will be responsible for the assignment..........................................................................................................................................................................
13. Does the applicant hold, or has it ever held, any authority from a supervisory body to carry on any business activity in Uganda or elsewhere ? If so, give particulars. If any such authority has been revoked, give particulars   
14. Has the applicant ever applied for any authority from a supervisory body to carry on any business in Uganda or elsewhere other than the authority mentioned in answer to Question 13 ? If so, give particulars. If any such application was for any reason refused or withdrawn after it was made,                                                                           give

particulars......................................................................................................

15. Has the applicant or any company in the same group within the last ten years failed to satisfy a judgement debt under a court in Uganda or elsewhere within a year of the making of the Order? If so, give particulars....
16. Has the applicant or any company in the same group made any compromise or arrangement with its creditors within the last ten years or otherwise failed to satisfy its creditors in full? If so, give particulars..................
17. Has a receiver or an administrative receiver of any property of the applicant or any company in the same group been appointed in Uganda, or has a substantial equivalent of any such person been appointed in any other jurisdiction, in the last ten years? If so, give particulars, including whether the receiver is still acting under the appointment      
18. Has a petition been served in Uganda for an administrative order in relation to the applicant or company in the same group, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years? If so, give particulars..................................................................................................................................................
19. Has a notice of resolution for the voluntary liquidation of the applicant or any company in the same group been given in Uganda, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years? If so, give particulars........................................................................................................................................
20. Has a petition been served in Uganda for the compulsory liquidation of the applicant institution or any company in the same group, or has the substantial equivalent of such a petition been served in any other jurisdiction, in the last ten years?. If so, give particulars...................................................................................
21. State whether the applicant company has ever been under any criminal investigation, prosecution disciplinary action(s), public criticism or trade sanctions in connection with banking and financial services in Uganda or elsewhere      
22. Are there any material matters in dispute between the applicant institution and the Uganda Revenue Authority or any equivalent taxation authority in any other jurisdiction? If so, give particulars.......................
23. Is the applicant or any company in the same group engaged, or does it expect to be engaged, in Uganda or elsewhere in any litigation which may have a material effect on the resources of the institution? If so, give particulars     
24. Is the applicant company engaged, or does it expect to be engaged, in any business relationship with any of its( prospective) directors, officers or managers? If so, give particulars................................................................
25. Is the business of the applicant’s directors, officers or managers or of companies in the same group guaranteed or otherwise underwritten or secured, or expected to be guaranteed or underwritten or secured, by the applicant company? If so, give particulars..................................................................................................................................................
26. Please provide any other information which may assist the Central Bank in reaching a decision on the application             

DECLARATION

We certify that we have read sections 10(8) and 126(1)(b)&(c) of the Financial Institutions Act, 2004 .We are aware that it is an offence under the terms of sections 10(8) and 126(1)(b)&(c) of the Act knowingly or recklessly to provide to the Central Bank or any other person any information which is false or misleading in a material particular in connection with the application for a licence under this Act or otherwise.

We, certify that all the information contained in and accompanying this form is complete and accurate to the best of our knowledge, information and belief and that there are no other facts relevant to this application of which the Central Bank should be aware.

We undertake to inform the Central Bank of any material changes to the application which arise while the Central Bank is considering the application.

We recognise the institution’s obligation under sections 10(8) and 126 (1)(b)&(c) to provide the Central Bank with any information in its possession relevant to the exercise by the Central Bank of its functions under the Financial Institutions Act, 2004 in relation to the institution. Consistent with this obligation, we undertake, in accordance with regulations 16 and 20 of these Regulations that, in the event that the institution is granted a licence under the Act, we will notify the Central Bank of any material changes to, or affecting the completeness or accuracy of, the answers to the questions above as soon as possible, but in any event no later than twenty one days from the day that the changes come to our attention.

Sworn at Kampala this................................... day of.............................................

1.................................................... .........................................................................

Name                                                      Position held

Signed                                                     Date

2.                   ........................................................                                          Name

Position held

Signed                                                     Date

The Deponent understands the contents of this affidavit.

Before me,                                                                        

COMMISSIONER FOR OATHS

SCHEDULE 3

Regulation 12 (1) (b)

PERSONAL DECLARATION FORM

[For individuals who are, or are proposing to become directors, managers, or substantial

shareholders of a financial institution]

Name and capacity of person making this declaration:

1. Name of institution in connection with which this form is being filled (“the institution”)            
2. Full names:
3. Former surname(s) and /or forenames by which you may have been known:
4. Please state the capacity under which you are completing this form, i.e. as a current or prospective director, or manager or any combination of these. Please state your full title and describe the particular duties and responsibilities attaching to the position(s) which you hold or will hold. If you are completing this form in the capacity of director, indicate whether, in your position as director, you have or will have executive responsibility for the management of the institution’s business. In addition, please provide a copy of your curriculum vitae unless it is already provided by the institution in response to Schedule 2.

 

	5. Your		date		and		place		of		birth:

1. Citizen of:   

(Country)

since: ...........................................

(Year)

Addresses:

1. Present business address (Uganda since   )
2. Resident of :               

(Country)

since: ...........................................

(Year)

(Outside Uganda since.............. )

 

 

 

 

 

2. Present residential address: (Uganda since       )              (Outside

Uganda since.............. )

3. Last two addresses in Uganda, if any, during the past ten (10) years: (since...................................................... ) (since.................................................... )

8. Professional & academic qualifications:

1. Highest academic qualification
2. Special awards or honours(if any)
3. Training courses and seminars
4. Membership in professional organizations

9. Occupation or employment (present or most recent and for the past ten years)

Inclusive date (month & year)

Name & business of employer Positions held From Year

10. Names and address(es) of your bankers within the last 10 years...................................................
11. Bodies corporate (other than the institution) where you are now a director, officer, shareholder, or manager? Give relevant dates..............................................................................................................................................................
12. Bodies corporate other than the institution and those listed above where you have been a director, shareholder, controller or manager at any time during the last ten years. Give relevant

dates................................................................................................................................................................

13. Have you, in Uganda or elsewhere, been dismissed from any office or employment, or subjected to disciplinary proceedings by your employer or barred from entry to any profession or occupation? If so, give particulars:               

14. Past and present business affiliations (direct and indirect):

Nature of affiliation i.e. director, officer, share Inclusive date holder with... % holdings (month and year) Nature of business specified etc.     from to

15. Do any of the above business affiliations maintain a business relationship with the institution?   If             so,           give                                                  particulars.
16. Do you hold or have you ever held or applied for a licence or equivalent authorisation to carry on any business activity in Uganda or any other country? If any such application was refused or withdrawn after it was made or any authorisation was revoked,                          give                          particulars:........................................................................
17. State whether the institution with which you are, or have been, associated as a director, officer, shareholder or manager holds, or has ever held or applied for a licence or equivalent authorisation to carry on any business activity? If so, give particulars. If any such application was refused, or was withdrawn after it was made or any licence revoked, give particulars..............................................................................................................
18. State whether any of your past or current employer(s) or institution in which you were affiliated as shareholder, director, officer, etc has ever been under criminal investigation, placed under receivership or insolvent liquidation by any regulatory body or court of law........................................................................
19. Family group:

Business affiliation

(State name of business and nature of affiliation i.e. director, officer, shareholder with.% holdings specified)

Name:

1. Spouse:
2. Children:
3. Parents:
4. Brothers and sisters:

20. Have you failed to satisfy any debt adjudged due and payable by you as a judgment debtor under an order of a court in Uganda or elsewhere, or made any compromise arrangement with your creditors within the last ten years? If so, give particulars.......................................................................................................
21. Have you been adjudicated bankrupt by a court in Uganda or elsewhere, or has a bankruptcy petition ever been served on you? If so, give particulars...................................................
22. Have you, in connection with the formation or management of any body corporate, partnership or unincorporated institution, been adjudged by a court in Uganda or elsewhere, civilly liable for any fraud, misfeasance or other misconduct by you towards such body or company or towards members thereof? If so, give particulars      
23. Has any body corporate, partnership or unincorporated institution with which you are associated as a director, shareholder, controller or manager, in Uganda or elsewhere, been wound up, made subject to an administrative order, otherwise made any compromise or arrangement with its creditors or ceased trading either while you were associated with it or within one year after you ceased to be associated with it or has anything analogous to any of these events occurred under the laws of any other jurisdiction? If so, give particulars..........................................................................................
24. Have you been concerned with the management or conduct of affairs of any institution which, by reason of any matter relating to a time when you were so concerned, has been censured, warned as to future conduct, disciplined or publicly criticized by, or made the subject of a court order at the instigation of any regulatory authority in Uganda            or                                  elsewhere?   If                                                        so,                 give