Regulatory Alerts2026-01-01
Banking Services Act 2014 Eleventh Schedule Consequential Amendment of Enactments
The Banking Services Act 2014, enacted by the Jamaican Parliament, introduces the Eleventh Schedule to harmonize definitions of financial institutions and banking entities across multiple existing statutes. This legislative amendment systematically replaces references to repealed acts, such as the Banking Act and Financial Institutions Act, with the new Banking Services Act in laws including the Charities Act, Companies Act, and Securities Act. The changes ensure consistent regulatory classification for banks, merchant banks, building societies, and other licensed financial entities within the broader legal framework.
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