Mutual Fund and Hedge Fund (Amendment) Act 2018 — FSA — SC

[20th December 2018] Supplement to Official Gazette 215

[Coat of Arms]

MUTUAL FUND AND HEDGE FUND (AMENDMENT) ACT, 2018

(Act 19 of 2018)

I assent

[Signature]

Danny Faure
President

19th December, 2018

AN ACT to amend the Mutual Fund and Hedge Fund Act (Cap 285).

ENACTED by the President and the National Assembly.

1. This Act may be cited as Mutual Fund and Hedge Fund (Amendment) Act, 2018 and shall come into operation on 1st January, 2019.

Short title and commencement

216 Supplement to Official Gazette [20th December 2018]

Amendment of Cap 285

2. The Mutual Fund and Hedge Fund Act is hereby amended in section 32 as follows—

(a) by inserting in subsection (1), after the words "subsection (2)", the words "and subsection (3)";

(b) by repealing subsection (3) and substituting therefor the following subsection

"(3) The concession relating to the Business Tax Act specified in Schedule 10 shall only apply if the licensed fund administrator meets the substantial activity requirements as may be prescribed.".

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

Lineage: No known changes

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Mentions (1): 1 document mentions this one without changing it

Referred to by

Substantial Activity Requirements Guidelines2023 · FSA
“The legislative amendments to the Securities Act (i.e. Securities (Amendment) Act, 2018) and the Mutual Fund and Hedge Fund Act (i.e. Mutual Fund and Hedge Fund (Amendment) Act, 2018) provides that licensees will only be able to benefit fr…”