Updates to the Company Service Providers Act (in light of Act X of 2025)

The amendments to the Company Service Providers Act (‘the Act’) introduced by virtue of Act X of 2025 forms part of the Authority’s ongoing initiative to enhance proportionality within the regulatory framework applicable to Company Service Providers (‘CSPs’).

A key amendment to the Act, specifically Article 3(B), is the introduction of a notification requirement for individuals who provide directorship and/or company secretary services in a company or holding a similar position in other legal entities, where such activity is not carried out ‘by way of business’. These individuals are referred to as Restricted Company Service Providers.

To facilitate compliance and support individuals in understanding their obligations, the Authority has issued a Guidance Note outlining the process for completing and submitting the application form applicable to Restricted Company Service Providers (the ‘Notification Form’).

Individuals falling within the definition of Restricted Company Service Providers are required to submit the Notification Form within the transitory period set out in the Act i.e. by no later than 16 July 2025, being two (2) months from the effective date of the legislative amendments.

Queries on the above should be sent to the Authority on [email protected].