Attending the course and successfully completing the post-assessment, will grant you
1.5 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
Web Based (Online)
Jeanmari van Der Schyff
0118861395
gillian@probetatraining.co.za
The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 (Amendment Act), made key amendments to the following Acts
– The Trust Property Control Act – sections 1 to 8 of the General Laws Amendment Act
– The Non-profit Organisations Act – sections 9 to 17
– The Financial Intelligence Centre Act (FICA) – sections 18 to 54
– The Companies Act – sections 55 to 61; and
– The Financial Sector Regulation Act (FSRA) – sections 62 to 65
The aim of this webinar is to explain all the changes and the new requirements especially relating to the new definition of beneficial owners of trusts and companies and the submission of information with the Master’s office, SARS and the CIPC.
These new requirements will affect all accounting and trust service providers.
The following are some of the more important topics that will be discussed during the session;
• Reasons for the amendments
• Effective dates of the amendments
• New obligations of trustees of trusts
• Definition of a Beneficial Owner of a Trust
• Disclosure of beneficial ownership
• Beneficial ownership information to be recorded by trustee
• The Master’s register on beneficial ownership of trust
• Failure by trustees to account for or perform duties
• Practical issues for trustees
• New registration requirements for trust and company service providers in terms of the financial intelligence Centre Act
• Requirement to develop, implement and maintain a Risk Management Compliance Programme
• New definitions of Domestic and Foreign Politically Exposed persons
• Definition of a Beneficial Owner in terms of the Companies Act
• Establishment of the beneficial owner register
• Beneficial Owner vs Beneficial Interest
• Meaning of “Affected Companies”
• Transitional arrangement for the filing of securities registers with the CIPC
• Penalties for non-compliance
Any person who provides trust and accounting services to clients as a regular feature of their business.
