The Amendment Act has introduced new trustee obligations into the existing South African trust law. The changes pertain to the recording and reporting of beneficial ownership of trusts. The aim of this recording is to improve transparency regarding the ownership of trust assets to assist in the combatting of a money laundering and terrorist financing.
Analysing the new disclosure requirements in the General Laws Amendment Act, 2022 In response to the greylisting by the Financial Action Task Force, the President has signed into law the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act to improve SA’s ability to combat money laundering and terrorist financing The Amendment Act has
If passed, the Companies Amendment Bill will be the first substantive amendment to the Companies Act since it came into force in 2011. The Bill includes a contentious requirement for large companies to disclose their executive remuneration policy to the shareholders for approval including a ratio comparing the compensation of the highest-earning employees with that