Trusts (Regulation of Trust Business) Amendment Act 2002
TRUSTS (REGULATION OF TRUST BUSINESS) AMENDMENT
ACT 2002
1989 Revision 1
BERMUDA
2002 : 2
TRUSTS (REGULATION OF TRUST BUSINESS) AMENDMENT
ACT 2002
[Date of Assent: 18 March 2002]
[Operative Date: 18 March 2002]
WHEREAS it is expedient to amend the date of payment of the
annual licence fee under the Trusts (Regulation of Trust Business) Act
2001 and to make provision for connected matters:
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:
Short title
1. This Act may be cited as the Trusts (Regulation of Trust
Business) Amendment Act 2002.
Interpretation
2. In this Act the principal Act means the Trusts (Regulation of
Trust Business) Act 2001.
Section 14 of principal Act amended
3. Section 14 (1)(b) of the principal Act is amended by deleting "31
January" and substituting in its place "30 April".
Section 60 of the principal Act amended
4. Section 60 of the principal Act is amended by inserting the
following subsection after subsection (2)
TRUSTS (REGULATION OF TRUST BUSINESS) AMENDMENT
ACT 2002
2 1989 Revision
"(2a) A company shall not be liable to pay the fee prescribed
by virtue of section 14(1) on the issue of its licence under subsection (2),
but shall be liable to pay the fee prescribed thereby on or before 30 April
2002 and annually thereafter, and the provisions of sections 14(3) and
(4) shall apply in relation to failure to pay such fee.".
