Throughout October, Vanuatu’s Parliament held extraordinary sessions to review a package of 21 Bills, including new Acts and amendments to the Companies Act, Charitable Associations (Incorporation) Act, the Anti-Money Laundering and Counter-Terrorism Financing Act, amongst others.
The Bills aim to bring Vanuatu’s legislation in line with standards set by intergovernmental organization, the Financial Action Task Force (FATF) surrounding money laundering, terrorism financing, and proliferation financing.
Parliament will deliberate proposed new Acts, as well as proposed amendments to existing legislation. Should the Bills pass, they will come into effect once they are published in the Gazette.
La’au Lawyers Vanuatu, of Pacific Legal Network, provides a succinct overview of the Bills – check out their article here:
