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 more modernised regulatory framework and investor protection safeguards. With the coming into force of the Interest Schemes Act 2016 on 31 January 2017, the market may see increased activity in the interest schemes industry.
