On 24 May 2023, the Companies and Intellectual Property Commission ("CIPC") issued Guidance Notice 2 of 2023, following the promulgation of the General Laws Amendment Act, 2022 ("The Amendment Act"). The Amendment Act introduced significant changes to several pieces of legislation, including the Financial Intelligence Centre Act 38 of 2001 ("FICA"), the Companies Act 71 of 2008, the Companies Amendment Regulations of 2023 and the Trust Property Control Act 57 of 1988 ("Trust Act"). These amendments have been swiftly implemented due to South Africa's grey listing status and the recommendations issued by the Financial Action Task Force ("FATF").