Regulatory Alerts2018-02-06
Circular on Unimpaired Paid-Up Capital
The Central Bank of Seychelles requires all licensed banks to maintain a minimum unimpaired paid-up or assigned capital of SCR 20,000,000. This circular clarifies the computation method by aggregating paid-up ordinary shares, non-cumulative perpetual preference shares, share premium, statutory reserve fund, and retained earnings or losses to determine impairment status. Capital is classified as unimpaired when this aggregate sum exceeds the nominal value of paid-up or assigned capital, and impaired if it falls below that threshold.
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