Introduction
As part in a chain of reforms proposed by the European
Commission, in 2015 the European Union (the “EU”)
adopted a modernised regulatory framework encompassing the Fourth
Anti-Money Laundering Directive 2015/849 (the “AMLD
IV”). The AMLD IV is a milestone in the Commission s
Action Plan to remedy the undoubtable shortcomings of
Europe s anti-money laundering framework evident by several
money laundering cases and terrorist attacks. Despite the lack of
harmonisation and successful implementation across the EU, in June
2018, the European Parliament proceeded with the publishing of the
Fifth Anti-Money Laundering Directive 2018/843 (the “AMLD
V”), forming one of the latest weapons of the EU in the fight
The Corporate Affairs Commission ("CAC'') recently announced the upgrade of its website and online registration portal (‘'the Portal) to allow for the full automation of most of its services and processes.
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2020 has been unprecedented in the scale and magnitude of
economic turbulence both globally and locally. While the start of
the year brought high expectations for the oil and gas sector in
Nigeria, the COVID-19 pandemic has had a domino effect on the
developments in this sector and has created a need to scale down
initial projections.
This was clearly demonstrated in the recently released 2021
Proposed Budget, which was aptly themed a Budget of Economic
Recovery and Resilience and is expected to accelerate the
pace of Nigeria s economic recovery against the backdrop of the
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You have a new idea. Your goal is to bring this idea to the
Turkish and foreign markets. It is very crucial to establish a
company in a country that will have low costs but has advantages in
terms of its strategic location. At this point, you realize that
according to the researches and articles through the internet,
especially Estonia is the best fit and is heaven for any kind of
startup.
However, are these suggestions and comments being reliable? Is
Estonia really startup paradise? Or are all these sayings being a
Introduction
On 25th January 2021, the Corporate Affairs Commission
( CAC ) notified the public, particularly the banking,
financial and insurance companies (as well as deposit, provident
and benefit societies) to submit the Statement in the 14th Schedule
( the Statement ), prescribed under section 733 of the
Companies and Allied Matters Act 2020 ( CAMA 2020 )
through any of the designated courier companies. Subsequently, on
1st February, 2021, the CAC notified the public about the new
filing fees and penalties for the late filing of the Statement in
the 14th Schedule.
Filing of Statutory Statement
Section 733(1) (formerly section 553 CAMA 1990) of CAMA 2020
provides that: every banking company, insurance company or a deposit,