Directors Registration and Licensing (Amendment) Law, 2019 (Law 7 of 2019)

Summary

This is a very short amending law that makes a single technical change to the Directors Registration and Licensing Law, 2014. It alters the definition of "covered entity" in section 2 of the 2014 Law by replacing a cross-reference to "paragraphs 1 and 4" with "paragraphs 1 and 2". The amendment does not introduce new substantive registration, licensing, or reporting duties; it simply corrects/updates which paragraphs of the underlying definition are referenced, which affects which entities or arrangements fall within the scope of "covered entity" for purposes of the principal law.

The law applies to persons and entities that are, or may become, "covered entities" under the Directors Registration and Licensing Law, 2014 -- i.e. entities whose directors are subject to registration or licensing requirements under that regime. Because the amendment changes a definitional cross-reference, its practical effect is to adjust the scope of who counts as a covered entity, but the document itself does not spell out the substantive consequences beyond the textual change.

The law's commencement is tied to another piece of legislation: it comes into force immediately after the commencement of the Securities Investment Business (Amendment) Law, 2019, rather than on a fixed calendar date. No transitional filing deadlines or ongoing compliance obligations are created by this amendment itself.

Applies to

covered entities (as defined in the Directors Registration and Licensing Law, 2014)

Deadlines

• immediately after the commencement of the Securities Investment Business (Amendment) Law, 2019: Commencement date of this amending law is tied to the commencement of the Securities Investment Business (Amendment) Law, 2019.