President Faure assents to legislation |08 April 2020

President Faure

President Danny Faure has signed into law a series of bills passed by the National Assembly aimed at further enhancing governance and transparency in the financial sector, and making Seychelles compliant with the international financial governance framework.

The President also assented to two Bills which provide additional leeway to financial regulating institutions in responding effectively to situations of force majeure, such as the global COVID-19 pandemic.

The following Bills, which were approved by the National Assembly on March 25 and 27, 2020 were received by President Faure on April 6, 2020, for his assent.

The Bills are:

Financial Institutions (Amendment) Act, 2020

Securities (Amendment) Act, 2020

Limited Partnerships (Amendment) Act 2020

Anti-Corruption (Amendment) Act 2020

International Business Companies (Amendment) Act 2020

Foundations (Amendment) Act 2020

Financial Services (Amendment) Act 2020

Central Bank of Seychelles (Amendment) Act 2020

Financial Institutions (Second Amendment) Act 2020

He assented to all the Bills on April 6, 2020.

Source: Office of the President