Vice-President Afif chairs cabinet meeting |23 April 2021

Vice-President Ahmed Afif chaired a scheduled meeting of the cabinet on Wednesday this week, at which a number of legal and policy memoranda were considered.

Cabinet approved amendments to legislations to be consistent with the recent amendments to the Anti-Money Laundering Act. Cabinet approved proposed amendments to the Foundations Act and the Limited Partnerships Act.  Cabinet also approved amendments to the Exchange of Information and Availability of Accounting Information in respect of International Business Companies, Foundations, Limited Partnerships and Trusts.

Cabinet approved amendments to the International Corporate Service Providers Act to allow for the setting up of the Private Trust Companies.

Cabinet approved amendments to the Companies (Special Licences) Act.

Cabinet also approved the Trusts Bill, 2021.

Press release from State House