Regulatory Alerts2014-05-16
New Format for Report of Abandoned Property
The Central Bank of Seychelles has issued a directive requiring all banks to adopt a new reporting form for abandoned properties, effective June 2014. This updated format accommodates multi-currency transactions and safe deposit box contents while streamlining compliance with the April 2009 administration circular. Implementing the standardized form ensures accurate and efficient data transfer to the Central Bank’s existing database.
CENTRAL BANK OF SEYCHELLES P. O. Box 701, Victoria, Seychelles Telephone: [+248] 428 2000 Ref: FSS/BKI ABD/20 Fax: [+248] 432 3665 E-mail: enguiries@cbs.sc Date: May 13, 2014 To all Banks New format for report of Abandoned Property Reference is made to the requirement to submit annual reports on Abandoned Properties CAPs) in line with section 2.3 of the circular on Administration of Abandoned Property dated April 30, 2009. Please note that in order to facilitate the reporting of APs in multi-currencies and contents of safe deposit boxes, a new form has been issued to be used with effect from June 2014. The efficient use of this new form will facilitate the transfer of information to the existing database which is maintained at the Central Bank.