Banks and Deposit Companies (Fees) Amendment Act 2004
BANKS AND DEPOSIT COMPANIES (FEES) AMENDMENT ACT
2004

1

BERMUDA
2004 : 4

BANKS AND DEPOSIT COMPANIES (FEES) AMENDMENT ACT
2004

[Date of Assent: 17 March 2004]

[Operative Date: 17 March 2004]

WHEREAS it is expedient to amend the Banks and Deposit
Companies (Fees) Act 1975:

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, which amends the Banks and Deposit Companies
(Fees) Act 1975 (the "principal Act"), may be cited as the Banks and
Deposit Companies (Fees) Amendment Act 2004.

Amends section 1 of principal Act
2 Section 1 of the principal Act is amended by inserting in the
appropriate alphabetical order the following definition —

" "Authority" means the Bermuda Monetary Authority
established under section 2 of the Bermuda Monetary
Authority Act 1969;".

BANKS AND DEPOSIT COMPANIES (FEES) AMENDMENT ACT
2004

2

Deletes references to the Accountant-General from principal Act
3 The following sections of the principal Act are amended by
deleting the words "Accountant General" wherever they appear and
substituting the word "Authority":

(a) section 3;

(b) section 3A; and

(c) section 4.

Amends section 5 of principal Act
4 Section 5(1) of the principal Act is repealed and the following new
subsection is substituted —

"(1) Any annual fee or any penalty payable under this Act may
be recovered by the Authority in a court of summary jurisdiction
as a civil debt, irrespective of the amount so payable.".