The commencement dates of certain provisions that relate to Ombuds under the Financial Sector Regulation Act (FSRA) has been recently amended as published in Government Gazette No. 43131 (Government Notice 356 of 24 March 2020).
Government Notice 356 has the following effect:
- The commencement date of Chapter 14 (sections 175 to 217) of the FSRA, relating to Ombuds, has been delayed yet again and will now take effect on 1 June 2020.
- The Financial Services Ombud Schemes Act will be repealed as of 31 December 2020.
- All references to 1 April 2020 in prior notices (as referred to in the Government Notice) relating to the commencement of the FSRA, have now been amended to 1 April 2021.