There is some great news which I want to share with you guys.
1. Removal of public access to filed Register of Directors
Under the previous provisions of the IBC Act, the copies of Register of Directors filed with the Registrar would have become public on 1st December, 2018. The Amendment Act removes public access to the filed Register of Directors and grants access only in following instances:
(a) in obedience of a court order
(b) when compelled by the enforcement of any law (e.g. the Financial Intelligence Unit under the Anti‐Money Laundering Act and the General Commissioner under the Revenue Administration Act)
(c) to the registered agent of a company to which the register relates
(d) to a specified third party upon authorisation of the registered agent or a director of a company to which the register relates.
Seychelles still meets the requirements of OECD’s Financial Action Task Force following this amendment. It should be noted that a company can still opt for public filing.
1. Removal of public access to filed Register of Directors
Under the previous provisions of the IBC Act, the copies of Register of Directors filed with the Registrar would have become public on 1st December, 2018. The Amendment Act removes public access to the filed Register of Directors and grants access only in following instances:
(a) in obedience of a court order
(b) when compelled by the enforcement of any law (e.g. the Financial Intelligence Unit under the Anti‐Money Laundering Act and the General Commissioner under the Revenue Administration Act)
(c) to the registered agent of a company to which the register relates
(d) to a specified third party upon authorisation of the registered agent or a director of a company to which the register relates.
Seychelles still meets the requirements of OECD’s Financial Action Task Force following this amendment. It should be noted that a company can still opt for public filing.
