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Bermuda Immigration and Protection (Land-Holding Charges) Amendment Regulations 2008

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Bermuda Immigration and Protection (Land-Holding Charges) Amendment Regulations 2008
BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING
CHARGES) AMENDMENT REGULATIONS 2008


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BR 16/2008

BERMUDA IMMIGRATION AND PROTECTION ACT 1956

1956 : 30

BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING
CHARGES) AMENDMENT REGULATIONS 2008



The Minister responsible for immigration, in exercise of the
powers conferred by section 102C (1)(a) of the Bermuda Immigration and
Protection Act 1956, makes the following Regulations:

Citation
1 These Regulations may be cited as the Bermuda Immigration
and Protection (Land-Holding Charges) Amendment Regulations 2008.

Amends Schedule
2 The Schedule to the Bermuda Immigration and Protection (Land-
Holding Charges) Regulations 2007 is amended by deleting the last two
entries respecting land-holding charges payable by “any” restricted
person and substituting the following —

BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING
CHARGES) AMENDMENT REGULATIONS 2008


“Any Tourist accommodation

that is not a residential
valuation unit

Any, other than by devise,
inheritance or voluntary
conveyance



(a) on first disposition from
the developer

10% of
the value
of the land

(b) on any other disposition 15% of
the value
of the land

Any Any, other than land of a
type referred to above

Any 5% of
the value
of the
land.”.



Transitional provision
3 (1) The Minister shall issue a refund to any restricted person
who paid a land-holding charge, during the period beginning on 1 July
2007 and ending on the date of the coming into operation of these
Regulations, in respect of the first disposition from Belmont Hills
Development Limited of a share or fraction in a unit at the Belmont Hills
Golf Resort & Spa, 27 Harbour Road, Paget, Bermuda.

(2) The refund shall be in an amount that is equal to one-third
of the land-holding charge that was paid.







Made this 24th day of March, 2008







Minister of Labour, Home Affairs and Housing




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