Interest Schemes Act 2016 [Act 778] and Interest Schemes Regulations 2017

The Interest Schemes Act 2016 was introduced to regulate the interest schemes, the alternative mode of fund raising activities for companies, by pooling financial contribution from the public in exchange for an interest in a particular interest scheme.

Previously contained in the Companies Act 1965, the Act was driven by the need for a modernised regulatory framework and investor protection safeguards.

With the coming into force of the Act, the market may see increased activity in the interest schemes industry.