Regulatory Alerts2012-11-21
Financial Institutions (Non Domestic Banking Business) (Repeal) Regulations, 2009
The Central Bank of Seychelles issued the Financial Institutions (Non Domestic Banking Business) (Repeal) Regulations, 2009 to formally abolish the corresponding 1996 regulations. Enacted under section 69(a) of the Financial Institutions Act, 2004, this statutory instrument eliminates the previous rules to streamline regulatory oversight for offshore banking entities. The repeal takes effect upon gazette publication, ensuring all non-domestic banking activities now operate solely under the updated 2004 legislative framework.
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