Act 7 2020 - FINANCIAL INSTITUTIONS (AMENDMENT) ACT

[9th April 2020] Supplement to Official Gazette 67 FINANCIAL INSTITUTIONS (AMENDMENT) ACT, 2020 (Act 5 of 2020) I assent Danny Faure President 6th April, 2020 AN ACT to amend the Financial Institutions Act (Cap.79). ENACTED by the President and the National Assembly. 1. This Act may be cited as the Financial Institutions Short title and (Amendment) Act, 2020 and shall come into operation on such commencement date as the Minister responsible for Finance may appoint, by Notice published in the Gazette. 68 Supplement to Official Gazette [9th April 2020] 2. In section 39 of the Financial Institutions Act, the Cap 79 following subsection shall be added after subsection (2) — “(3) Notwithstanding subsection (2), every financial institution shall maintain the register of beneficial owners under the provisions of the Beneficial Ownership Act, 2020.”. I certify that this is a correct copy of the Bill which was passed by the National Assembly on 25th March, 2020. Mrs. Tania Isaac Deputy Clerk to the National Assembly