Regulatory Alerts2021-01-01
Companies (Special Licences) (Amendment) Act, 2021
Enacted by the President and National Assembly of Seychelles, this legislation amends the Companies (Special Licences) Act to modernize licensing, compliance, and corporate governance frameworks for relevant and international business companies. The amendments update fee structures, mandate annual returns and audited accounts with penalty provisions, clarify licence revocation and surrender procedures, and establish new requirements for directors, secretaries, and shareholder notifications. Additionally, the Act streamlines corporate conversions, strengthens non-disclosure obligations, and provides transitional measures to ensure existing entities align with the revised regulatory standards within three months of commencement.
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