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Cecil Kilpin | Legislation Changes – Beneficial Ownership

By |2023-06-13T11:15:32+02:00June 13th, 2023|Business, Environmental, Finance + Economics, Goverment, Newsletter, Tax|

AMENDMENTS TO THE TRUST PROPERTY CONTROL ACT. The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act (no. 22 of 2022) came into force on 1 April 2023, and amends the Trust Property Control Act [as well as the Nonprofit Organisations Act (no.71 of 1997), the Financial Intelligence Centre Act (no.38 of 2001), and the Companies Act (no.71 of 2008)]. It is hereinafter referred to as “the Amendment Act”. The amendments to the Trust Property Control Act are significant – the intention is to increase the disclosure requirements on trustees, to prevent the misuse of trusts, and to combat money laundering, terrorist financing and other financial crimes. The Amendments Comprise: The insertion of the definition of ‘‘accountable institution’’ Increased disclosure [...]

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Cecil Kilpin | September 2022 Newsletter

By |2022-09-26T16:35:27+02:00September 26th, 2022|Business, Finance + Economics, Goverment, Newsletter, Tax|

WHO NEEDS TO DO ESTATE PLANNING? Many may think that they are not old enough or wealthy enough to warrant doing any estate planning. However, if a person is over the age of eighteen, no matter how small his estate is, it is advisable to begin the process. All persons 16 years and older are competent to make a Last Will and Testament, in order to determine how their estate should devolve upon their death (where applicable). Where an estate planner is “at” in life, will determine his/her strategic plan for his/her estate, and which techniques to use in order to implement in the plan. An estate planner may be single, married, divorced, or separated. He/she may have [...]

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