Financial services legislation : some reflections on the recent amendments

Abstract

As most readers would know, most of our financial services laws have recently been revised by Parliament. A significant number of amendments were incorporated in one breath-taking document (Act no. XVII which came into force on the 1st October 2002) which contains no less than 291 sections divided into 16 different parts. The Act stirred very little controversy which probably explains why only scant attention was given in the press to the Parliamentary debates on this important Bill. Admittedly, most of the new provisions and the discussion were highly technical and offered little by way of light entertainment.