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.
[27th July 2009] Supplement to Official Gazette 643
S.I. 61 OF 2009
FINANCIAL INSTITUTIONS ACT, 2004
(Act 14 of 2004)
Financial Institutions (Non-Domestic Banking Business) (Repeal) Regulations, 2009
In exercise of the powers conferred by section 69(a) of the Financial Institutions Act, 2004, the Central Bank of Seychelles makes the following Regulations —
1. These Regulations may be cited as the Financial Institutions (Non-Domestic Banking Business) (Repeal) Regulations, 2009.
2. The Financial Institutions (Non-Domestic Banking Business) Regulations, 1996 is repealed.
MADE this 24th day of July, 2009.
JENNIFER MOREL DEPUTY GOVERNOR CENTRAL BANK OF SEYCHELLES
Citation
Repeal of S.I. 29 of 1996