Regulatory Alerts2018-01-01
Securities (Amendment) Act, 2018
The President and National Assembly of Seychelles enacted the Securities (Amendment) Act, 2018 to revise key provisions of the existing Securities Act. The legislation updates section 45(11) and replaces subsection (2) of section 128 to mandate that Business Tax Act concessions apply exclusively when licensees satisfy prescribed substantial activity requirements. Furthermore, the amendment removes references to representatives of securities dealers and investment advisors from section 128(1) and Schedule 3, with all changes commencing on 1 January 2019.
Share