Gibraltar's charity laws set for biggest overhaul in more than six decades

Gibraltar's charity laws are set for their biggest overhaul in more than six decades.

The Government says the new Charities Bill will modernise the sector, strengthen oversight and improve transparency, while introducing tougher safeguards against money laundering and terrorist financing.

The Opposition agreed there was a "clear case for modernising" the legislation.

The bill was approved in Parliament unanimously. 

And Parliament also unanimously approved amendments to the Private Foundations Act.

The changes allow private foundations to prepare their accounts using standards issued by the UK's Financial Reporting Council alongside Gibraltar's Companies Act, in what the Government says is a move to modernise the legal framework.

Parliament has now adjourned for the summer.