Regulatory Alerts2012-11-21
Delegation of Functions (Development Bank of Seychelles Decree) Order 2009
The President of Seychelles issued this order to delegate specific statutory powers and duties under the Development Bank of Seychelles Decree to the Central Bank of Seychelles. The transfer encompasses functions outlined in sections 17, 24, 30, 33, 34, 35, and 36 of the Decree, which were previously vested in the President and Minister. Effective upon promulgation on 12 August 2009, the order formally transfers these regulatory responsibilities to centralize banking oversight under the Central Bank.
[17th August 2009} SupplemenllO Official Gazelle 649 S.I. 63 OF 2009 TRANSFER AND DELEGATION OF STATUTORY FUNCTIONS ACT (Cap241) Delegation of Functions (Development Bank of SeychellesDecree) Order, 2009 In exercise of the powers conferred by section 4(I) of the Transfer and Delegation of Statutory Functions Act. the President,herebymakesthefollowingOrder1. This Ordermaybe citedas the Delegationof Statutory Functions(DevelopmentBank of SeychellesDecree)Order. 2009. 2. The exercise of powers and the performance of duties conferred upon or vested in the President and the Minister by the following sections of the Development Bank of Seychelles Decree, namely- (a) section 17 } (b) section 24 } (c) section 30 } (d) section 33 } (e) section 34 } (f) section 35 } (g) section 36 } President Minister are hereby delegated to the Central Bank of Seychelles. MADE this 12th day ofAugust, 2009. JAMES MICHEL PRESIDENT ( 'itation Transfer of statutory functions