Bermuda Monetary Authority (Collective Investment Scheme Classification) Amendment Regulations 2001
BERMUDA MONETARY AUTHORITY (COLLECTIVE
INVESTMENT SCHEME CLASSIFICATION) AMENDMENT
REGULATIONS 2001

1989 Revision 1

BR 45/2001

BERMUDA MONETARY AUTHORITY ACT 1969

1969 : 57

BERMUDA MONETARY AUTHORITY (COLLECTIVE
INVESTMENT SCHEME CLASSIFICATION) AMENDMENT

REGULATIONS 2001

In exercise of the powers conferred upon the Minister by section
29 of the Bermuda Monetary Authority Act 1969, the following
regulations are hereby made:

Citation
1 These Regulations may be cited as the Bermuda Monetary
Authority (Collective Investment Scheme Classification) Amendment
Regulations 2001.

Interpretation
2 In these Regulations "the principal Regulations" means the
Bermuda Monetary Authority (Collective Investment Scheme
Classification) Regulations 1998.

Part C of the Schedule to principal Regulations amended
3 Part C (Bermuda Institutional Schemes) of the Schedule to the
principal Regulations is amended

(a) in paragraph 3(a) by deleting at the end thereof "and"
and substituting "or"; and

BERMUDA MONETARY AUTHORITY (COLLECTIVE
INVESTMENT SCHEME CLASSIFICATION) AMENDMENT

2 1989 Revision

(b) by deleting paragraph 3(b) and substituting the following


"(b) accepts business exclusively from

(i) sophisticated private investors;

(ii) high net worth private investors;

(iii) high income private investors;

(iv) a body corporate in which all the
shareholders fall within the classes of
persons in paragraph (i), (ii) or (iii);

(v) a partnership in which all the partners
fall within the classes of persons in
paragraph (i), (ii) or (iii);

(vi) a trust in which all the beneficiaries fall
within the classes of persons in
paragraph (i), (ii) or (iii);

(vii) a body corporate that has total assets of
not less than five million dollars,
whether such assets are held solely by
the body corporate or held partly by the
body corporate and partly by any other
body corporate of which it is a
subsidiary company or a holding
company; or

(viii) an unincorporated association or a
trust, that has total assets of not less
than five million dollars.

In this paragraph "sophisticated private investors", "high
net worth private investors" and "high income private
investors" have the meanings given in paragraph 2(2) to
the Schedule to the Investment Business Act 1998.

Made this 16th day of August , 2001

Minister of Finance