Trusts (Amendment) Act, 2026

Trusts (Amendment) Act REPUBLICOFSEYCHELLES SUPPLEMENTTO OFFICIALGAZETTE ACT th [24 August 2026] 152 TRUSTS (AMENDMENT) ACT, 2026 (Act 14 of 2026) ARRANGEMENT OF SECTIONS SECTIONS

1. Short title
2. Amendment of section 2 of the Trusts Act, 2021 (Act 34 of 2021)
3. Amendment of section 25
4. Amendment of section 28
5. Amendment of section 29
6. Amendment of section 37

TRUSTS (AMENDMENT) ACT, 2026 (Act 14 of 2026) I assent th 11 August, 2026 AN ACTTO AMEND THE TRUSTS ACT, 2021 (ACT34 OF2021). BY THE PRESIDENT AND THE NATIONALASSEMBLY Short title

1. This Act may be cited as the Trusts (Amendment) Act, 2026. ENACTED Trusts (Amendment) Act REPUBLICOFSEYCHELLES SUPPLEMENTTO OFFICIALGAZETTE ACT th [24 August 2026] 153

Amendment of section 2 2. Section 2 of the Trusts Act, 2021 (hereinafter referred to as the principal Act) is amended — (a) by inserting after the definition of “Court” the following definition — ‘ “designated non-financial businesses or professions” shall have the same meaning assigned to it under the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (Act 5 of 2020);’; (b) by inserting after the definition of “enforcer” the following definition — ‘ “financial institution” shall have the same meaning assigned to it under the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (Act 5 of 2020);’; Amendment of section 25 3. Section 25 of the principal Act is amended by repealing subsection (7) and consequently re-numbering subsection (8) as subsection (7). Amendment of section 28 4. Section 28 of the principal Act is amended — (a) by inserting a new subsection after subsection (5) as follows — “(5A) Atrustee shall maintain accurate and up to date information in the trust register as required under subsection (2).”; (b) by repealing the words and figures “subsection (7) or (8)” in subsection (11) and therefor substituting the words and figures “subsections (5A) or (7) or (8)”; (c) by repealing subsection (12). Amendment of section 29 5. Section 29 of the principal Act is amended — (a) in subsection (1) — (i) by repealing the word “or” in paragraph (b); (ii) by repealing the words and figures “(Act 5 of 2020),” in paragraph (c) and therefor substituting the words and figures “(Act 5 of 2020); or”; (iii) by inserting after paragraph (c), the following new paragraph — “(d) a financial institution or designated non-financial businesses or professions, for the purpose of enabling that financial institution or Trusts (Amendment) Act REPUBLICOFSEYCHELLES SUPPLEMENTTO OFFICIALGAZETTE ACT th [24 August 2026] 154

designated non-financial business or profession to comply with its obligation under the provisions of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (Act 5 of 2020),”; (b) by inserting a new subsection (1A) after subsection (1) — “(1A) For the purpose of avoidance of any doubt, it is clarified that a trustee who, in good faith furnishes any information in accordance with the provisions of subsection (1) shall not, by reason of doing so, be treated as acting in breach of any duty of confidentiality, fiduciary duty or any other restriction on disclosure imposed by this Act or by any other written law in force.”. Amendment of section 37 6. Section 37 of the principal Act is amended — (a) in subsection (3) by repealing the words and figures “Subject to section 29 and any order of the Court, a trustee may refuse to comply with” and therefor substituting the words and figures “Except where a request is made pursuant to section 29 and by any order of the Court, a trustee may refuse to comply with”; (b) by inserting a new subsection (3A) after subsection (3) — “(3A)Notwithstanding subsection (3), a trustee shall comply with a request for disclosure made by a financial institution or a designated non￾financial business or profession for the purpose of compliance with the provisions of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (Act 5 of 2020), unless the trustee reasonably considers that the request is ambiguous, disproportionate or not directly related to that compliance and in such case the trustee may apply to the Court for directions in respect of the request.”. I certify that this is a correct copy of the Bill which was passed by the National Assembly on W th ednesday 05 August, 2026. Mrs. Tania Isaac Clerk to the National Assembly Trusts (Amendment) Act REPUBLICOFSEYCHELLES SUPPLEMENTTO OFFICIALGAZETTE ACT th [24 August 2026] 155