3 Interpretation

In this Act, unless the context otherwise requires—
“beneficial owner” means one or more natural persons who ultimately own or control a customer or the natural person or persons on whose behalf a transaction is being conducted and includes those natural persons who exercise ultimate effective control over a legal person or a legal arrangement;
“beneficial ownership information” means the information specified under section 5(1), which is collected on beneficial owners and the relevant information of registrable legal persons; (Inserted by Act 38 of 2022)
“customer” shall have the meaning ascribed to it in the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020;
“database” means the Seychelles Beneficial Ownership database referred to in section 13; (Inserted by Act 38 of 2022)
“extractive companies” means the companies licensed under section 6 of the Petroleum Mining Act (Cap. 166) and the term “extractive industry” shall be construed accordingly and applied to the industry as a whole, and the Minister may by notice in the Gazette declare any other industry as an extractive industry from time to time;
“Financial Intelligence Unit” means the Financial Intelligence Unit established under section 10 of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020;
“Financial Services Authority” means the Financial Services Authority established under section 3 of the Financial Services Authority Act, 2013 (Act 13 of 2013);
“information” means any fact, document, statement or record in any form;
“law enforcement agency” shall have the same meaning assigned to it in the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 and the expression “law enforcement authority” shall be construed accordingly;
“legal arrangement” means a trust or similar arrangement or any person holding assets in a fiduciary capacity in any other similar entity or arrangement;
“legal person” means a body corporate or other body that is a legal person under the law by which it is governed;
“listed company” means—
(a) a company whose securities are listed on—
(i) a securities exchange licensed under the Securities Act;
(ii) an exchange which is licensed in a jurisdiction that is an ordinary member of the International Organisation of Securities Commissions (IOSCO); or
(b) a company which is a wholly-owned subsidiary of a body corporate, partnership or trust, whose securities are listed on any of the exchanges referred to in clause (a); (Amended by Act 38 of 2022)
“member” means—
(a) in relation to a company, a person whose name has been entered in the company’s register of members as a shareholder or a guarantee member;
(b) in relation to an association, a member or an officer of the association under section 6 of the Registration of Associations Act (Cap. 201);
“Minister” means the Minister responsible for Finance and the term “Ministry” shall be construed accordingly;
“registered agent” means a person licensed to provide international corporate services or foundation services in accordance with the International Corporate Service Providers Act (Cap. 275).
“register of beneficial owners” means the register of beneficial owners maintained under section 5;
“Registrar of Associations” means the Registrar of Associations appointed under the Registration of Associations Act (Cap. 201).
“Registrar of Companies” means the Registrar of Companies appointed under the Companies Act (Cap. 40).
“registrable legal person” means a legal person whose name may be entered in the register of beneficial owners as a registrable legal person provided that—
(a) the legal person—
(i) is subject to its own disclosure requirements under this Act and is in compliance with sections 5(6), 10(3a) and 13; and
(ii) is a licensee under the International Corporate Service Providers Act; or
(b) the legal person is a listed company; (Inserted by Act 38 of 2022)
“registrable particulars” means the information entered in the register of beneficial owners; (Substituted by Act 38 of 2022)
“regulations” means the regulations made under this Act;
“resident agent” means—
(a) a secretary appointed under section 179 of the Companies Act (Cap. 40);
(b) the person responsible under section 12 of the Registration of Associations Act (Cap. 201);
(c) a registered agent under section 164 of the International Business Companies Act (Cap. 274); (Amended by Act 38 of 2022)
(d) a registered agent under section 28 of the Foundations Act (Cap. 300);
(e) an approved trustee of a trust under the Trusts Act, 2021; (Substituted by Act 38 of 2022)
(f) a registered agent under section 6A of the Limited Partnerships Act; (Substituted by Act 38 of 2022, amended by Act 18 of 2025)
(g) a partner of a partnership under the Civil Code of Seychelles Act (Cap. 33); or
(h) a representative pursuant to paragraphs (c) and (h) of Section 38(1) of the Revenue Administration Act in relation to a partnership formed, incorporated or established outside Seychelles but conducting or carrying on business within Seychelles; (Inserted by Act 18 of 2025)
“service address” means the physical address of the beneficial owner or nominee for the purpose of service of communications.