The Authority is reminding all authorised trustees and other fiduciary service providers in terms of Article 43 of the Trusts and Trustees Act that the transitory period of two years to comply with the minimum share capital requirements will expire on the 25 April 2016. Consequently any changes to the company's Memorandum and Articles of Association must reach the Conduct Supervisory Unit by 29 January 2016 for the necessary regulatory approvals.
In this respect, reference is made to the following circular issued on the 4 December 2015: Circular addressed to authorised trustees and other fiduciary service providers, excluding authorised administrators of private foundations, in terms of Article 43 of the Trust and Trustees Act
Changes To Share Capital – Trusts And Trustees Act
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