Bill 6 2020 - FINANCIAL SERVICES AUTHORITY (AMENDMENT) BILL

[28th February 2020] Supplement to Official Gazette i FINANCIAL SERVICES AUTHORITY (AMENDMENT) BILL, 2020 (Bill No. 6 of 2020) OBJECTS AND REASONS The Beneficial Ownership Bill, 2020 (Bill No. 3 of 2020) was published in the Official Gazette on 4th February, 2020 and laid before this August House for consideration. In view of the enactment of the said legislation, certain consequential amendments are required to be made in the Financial Services Authority Act, 2013 (Act 19 of 2013). This Bill seeks to amend section 23 of the Financial Services Authority Act, 2013 (Act 19 of 2013) to ensure the maintenance of the register of beneficial owners under the Beneficial Ownership Act. Dated this 28th day of February, 2020. FRANK D.R. ALLY ATTORNEY-GENERAL ——————— [28th February 2020] Supplement to Official Gazette iii FINANCIAL SERVICES AUTHORITY (AMENDMENT) BILL, 2020 (Bill No. 6 of 2020) A BILL OF AN ACT to amend the Financial Services Authority Act, 2013. ENACTED by the President and the National Assembly. 1. This Act may be cited as the Financial Services Short title and Authority (Amendment) Act, 2020 and shall come into commencement operation on such date as the Minister responsible for Finance may appoint, by Notice published in the Gazette. iv Supplement to Official Gazette [28th February 2020] 2. Section 23 (1) of the Financial Services Authority Act 19 of 2013 Act, 2013 is hereby amended as follows: — (a) after paragraph (a), insert the following paragraph — “(aa) the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020; (ab) the Beneficial Ownership Act, 2020;”.