Companies (Special Licences) (Amendment) Act, 2018

[20th December 2018] Supplement to Official Gazette 211

[Coat of Arms]

COMPANIES (SPECIAL LICENCES) (AMENDMENT)
ACT, 2018

(Act 17 of 2018)

I assent

[Signature]

Danny Faure
President

19th December, 2018

AN ACT to amend the Companies (Special Licences) Act (Cap 253).

ENACTED by the President and the National Assembly.

1. This Act may be cited as Companies (Special Licences) (Amendment) Act, 2018 and shall come into operation on 1st January, 2019.

Short title and commencement

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212 Supplement to Official Gazette [20th December 2018]

Amendment of Cap 253

2. The Companies (Special Licences) Act is hereby amended as follows —

(a) by repealing section 21;

(b) by repealing Schedule 2.

3. (1) Notwithstanding the repeal of section 21 and Schedule 2, the provisions of section 21 and the Schedule 2 shall continue to apply until 30th June, 2021 to a relevant company issued with a special licence on or before 16th October, 2017.

(2) A relevant company specified under subsection (1) may, by notifying the Authority in writing, opt out from the application of that subsection.

4. The subsection 3(1) shall not apply to the assets introduced in the relevant company on or after 17th October, 2017.

I certify that this is a correct copy of the Bill which was passed by the National Assembly on 6th December, 2018.

[Signature]

Mrs. Tania Isaac
Deputy Clerk to the National Assembly