Due to the risk that South Africa may be greylisted this year, Treasury legislated measures on December 22 last year to demonstrate that the government is working to improve shortcomings identified by the Financial Action Task Force mutual evaluation report as threatening the international financial system. Amendments to the following Acts have been made: the Financial Intelligence Centre Act, Non-profit Organisations Act, Trust Property Control Act, Companies Act and Financial Sector Regulations Act.
Trustees should be aware of
