390 Transition for all companies

(1) Every company shall have a period of twelve months from the Act

commencement date to comply with —

(a) section 152 (Filing of register of directors with Registrar); and

(b) Part XX of this Act (Obligations relating to Beneficial
Owners).

(2) For the purposes of compliance with section 152 (Filing of register of
directors with Registrar), it shall be sufficient if —

(a) the first register of directors filed by a company with the
Registrar only contains particulars of its current directors as at
the date of filing; and

(b) any subsequent register of directors filed by a company with
the Registrar only contains particulars of its directors as from
the date of filing of the first register of directors filed under
section 152.

(3) Subject to subsection (4), section 347 (Inspection of documents filed) and
section 348 (Copies of documents filed) shall not apply in respect of a
company‘s copy register of directors filed with the Registrar under
section 152 (Filing of register of directors with Registrar) until and from
the date occurring two years after the Act commencement date.


(4) As from the Act commencement date the Seychelles Revenue
Commission and the Financial Intelligence Unit shall have the right
(without charge) to inspect a company‘s copy register of directors filed
with the Registrar under section 152 (Filing of register of directors with
Registrar).