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ARTICLE · 15 FEBRUARY 2012

Amendments To Seychelles Legislation

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The following amendments have been made to the IBC Act:

SeychellesWealth Management
Malcolm Moller
Malcolm Moller
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INTERNATIONAL BUSINESS COMPANIES ACT, 1994 (THE "IBC ACT")

The following amendments have been made to the IBC Act:

1. Register of Members

Section 28(3) of the IBC Act is amended to require that the share register in respect of an IBC is at all times maintained in Seychelles. Previously the share register of an IBC could be maintained at the registered office of the IBC or such other place as determined by the directors of the IBC.

Action Required: Each IBC needs to ensure that it maintains its register of members in Seychelles. Where an IBC does not currently maintain its register of members in Seychelles, it must resolve to maintain such register in Seychelles and ensure that such register is transferred to Seychelles.

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