On the 25th March 2025, the Legislation Committee met to adopt the following regulations;
- Money laundering and proceeds of crime (Amendment) Regulation,2024
- Declaration of currency and bearer negotiable instruments notice, 2024
- Financial institutions (credit only and deposit taking microfinance institutions) (Amendment) Regulations, 2024
- Financial Institutions (Licensing Requirements) (Amendment) Regulations, 2024
- Insurance (Registration and Licensing) Requirements for insurers (Amendment) Regulations 2024
- Insurance (Licensing of Insurance intermediaries) (Amendment) Regulation, 2024
- Financial Lease (Amendment) Regulations, 2024 and
- Pension Fund (Registration and Licensing) (Amendment) Regulations, 2024.
The committee did this mainly to empower Central bank of Lesotho to have more control when licensing principal shareholders or beneficiaries.
The committee submitted the report for adoption by the House and it was adopted in the house on 1st April 2025.
BRIEF BY HONORABLE LEBOHANG HLAELE ON LESOTHO (CITIZENSHIP AMENDMENT) BILL, 2024 BEFORE THE LEGISLATION COMMITTEE
Before the legislation committee, on 25 March 2025, honorable Lebohang Hlaele presented a brief on Lesotho (Citizen Amendment) Bill 2024. He indicated that the Parliament of Lesotho was directed to create legislation specifying that only individuals who are Basotho by birth could occupy key positions, he also mentioned that this appear in section 41(2)(b) of the eighth Amendment of the constitution, 2018, he continued to state that the main intend was to prohibit those acquiring citizenship through naturalization or registration from holding critical government offices such as the presidency. He said that this was precautionary measure to prevent individuals who are not Basotho by birth from competing for such high-ranking positions in government. Hon. Hlaele indicated that this amendment reflects a broader constitutional change intended to preserve national identity and ensure that top positions are held by native Basotho.