Regulatory Alerts2024-01-01
Limited Partnerships (Amendment) Act, 2024
The President and National Assembly of Seychelles enacted Act 20 of 2024 to amend the Limited Partnerships Act, 2003 by updating penalty structures, registration disclosures, and deregistration procedures. The legislation increases default penalties to a base one hundred US dollars plus twenty-five US dollars per day, mandates nominee and nominator identity disclosures in the register, and revises deregistration timelines to thirty days with a ninety-day appeal window. Existing limited partnerships must comply with the amended disclosure requirements within twelve months of commencement, ensuring streamlined regulatory oversight and clearer deregistration mechanisms.
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