Cable and Wireless Act 1999

Link to law: http://www.bermudalaws.bm/Laws/Annual%20Laws/1999/Acts/Cable%20and%20Wireless%20Act%201999.pdf

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
Cable and Wireless Act 1999
CABLE AND WIRELESS BERMUDA LTD. ACT 1999

1

BERMUDA
1999 : 23

CABLE AND WIRELESS BERMUDA LTD. ACT 1999

[Date of Assent 9 July 1999]

[Operative Date 1 November 1998]

ARRANGEMENT OF SECTIONS

1 Citation
2 Interpretation

3 Provisions effective on
operative date

4 Supplementary provisions

WHEREAS it is expedient to give effect to the agreement between
Cable and Wireless Public Limited Company and the Government of
Bermuda dated 20th August, 1998:

Be it enacted by The Queen's Most Excellent Majesty, by and
with the advice and consent of the Senate and the House of Assembly of
Bermuda, and by the authority of the same, as follows:

Citation
1 This Act may be cited as the Cable and Wireless Bermuda Ltd.
Act 1999.

Interpretation
2 In this Act—

CABLE AND WIRELESS BERMUDA LTD. ACT 1999

2

"the agreement" means the agreement between Cable and
Wireless Public Limited Company and the Government of
Bermuda dated 20th August, 1998;

"Cable and Wireless Bermuda Ltd." means the company
incorporated under the Companies Act 1981 on the 27th day
of October 1998 to take over the telecommunication business
that prior to that date was carried on in Bermuda by Cable
and Wireless Public Limited Company;

"the operative date" means the date on which, pursuant to the
agreement, the licence, as amended pursuant to the
agreement, granted to Cable and Wireless Public Limited
Company under the Cable and Wireless Public Limited
Company (Consolidated Licence) Act 1985 is assigned to
Cable and Wireless Bermuda Ltd..

Provisions effective on operative date
3 On the operative date —

(a) the Cable and Wireless Public Limited Company
(Consolidated Licence) Act 1985 is repealed;

(b) the licence granted to Cable and Wireless Public Limited
Company under the Cable and Wireless Public Limited
Company (Consolidated Licence) Act 1985, as assigned
to Cable and Wireless Bermuda Ltd. and amended, shall
be deemed to have been duly granted to Cable and
Wireless Bermuda Ltd. in accordance with the provisions
of the Telecommunications Act 1986;

(c) the First Schedule to the Telecommunications Act 1986
is amended by deleting the words "Cable and Wireless
Public Limited Company".

Supplementary provisions
4 (1) The transfer of assets in Bermuda from Cable and Wireless
Public Limited Company to Cable and Wireless Bermuda Ltd. shall be
exempt from any taxes, duties (including stamp duty payable under
Head 27(iii) of the Schedule to the Stamp Duties Act 1976) or tariffs that
would, apart from this subsection, otherwise be payable to the
Government.

(2) Notwithstanding anything contained in the Exchange
Control Act 1972 or any Act replacing or amending that Act, or any
regulations made thereunder, Cable and Wireless Bermuda Ltd. shall be
entitled on the termination of the licence deemed to have been granted to
it under section 3(b) to remit out of Bermuda, free from any restrictions

CABLE AND WIRELESS BERMUDA LTD. ACT 1999

3

or control under the said Act or regulations, any monies paid to it in
respect of the sale of any telecommunication business and related assets
and land in Bermuda.