OFFICIAL GAZETTE THE BAHAMAS PUBLISHED BY AUTHORITY

NASSAU 1'1 February, 20 12 (f\j

EXECUTIVE ENTITIES REGULATIONS, 2012

Arrangement of Regulations

Regulation I . Citation and commencement.. ... ...... .. ........ .... ... ... .. ... .... .. ..... ... .. ........ ... ..... ... .... 2

2. Interpretation ... ... ... .. .. ........... .... ......... ..... ..... .. ..... ....... .... .. .. ... ........ ... ........ .... ... . 2

3. Suspension or revocation of registration of Executive Entity .. ....... ... ...... ..... . 2

4. Payment of fees ... .......... ..... .. ...... ...... ... .... .. .... .... ... ..... ... .. .. ............. ... .. ... .... ..... . 3

OFFICE OF THE ATTORNEY-GENERAL

S.l. No. 13 of 2012

EXECUTIVE ENTiTIES ACT, 2011

(No. 52 of 2011)

EXECUTIVE ENTITIES REGULATIONS, 2012

The Attorney-General , in exercise of the powers conferred by section 68 of the Executive Entities Act, 2011 makes the following Regulations -

I . Citation and commencement.

(I) These Regulations may be cited as the Executive Entities Regulations. 2012.

(2) These Regulations shall come into force on the 2"<~ day of February. 2012.

2. Interpretation.

In these regulations, the "Act" means the Executive Entities Act. 2011 1 •

3. Suspension or revocation of registration of Executive Entity.

Pursuant to section 50( I) of the Act, where the Registrar has reasonable cause to believe that an Executive Entity -

(a) is no longer being administered to carry out the purposes of the Entity, in accordance with its Charter or Articles;

(b) fails to comply with any regulatory law;

(c) fails to satisfy the requirements of section 13( 4) of the Act;

(d) has failed to meet annually in accordance with section 11 of the Act:

(c) has failed to keep proper accounting records in accordance with section 43 of the Act; or

(t) has failed to comply with any other requirements under the Act.

the Registrar shall serve notice that its registration may be suspended or revoked.

'No . 52 of2011.

Page - 2

4. Payment offees.

There shall be charged, collected and paid to the Registrar General in respect of each of the matters set forth in the first column of the Schedule, the respective fees set forth opposite thereto in the second column of the Schedule .

SCHEDULE

(Regulation 4)

FEES

Matter in respect of which fee is payable Amount of fee

I. For the registration of an Executive Ent ity under section 28 of the Act during the-

(a)

(b)

(c)

(d)

first quarter of a calendar year;

second quarter of a calendar year:

third quarter of a calendar year: or

fourth quarter of a calendar year;

2. For a certified copy under section 57 of the Act of -

(a) a registration statement;

(b) a certificate of registration:

(c) the Chart~r (if delivered to the Registrar); or

(d) the Articles (if delive red to the Registrar)

3. For a certi flcate of good standing under section 60 of the Act

4. An Executive Entity whose name is on the Register on December 31 '1 in any year shall ·-

(a) before April 301h of the following year pay to the

Registry an annual fee of;

(b) before October 31 s i of such year pay an increased

annual fee of;

(c) after October 31 s i of such year pay a further increased

annual fee of;

$550.00

$400.00

$275 .00

$150.00

$ 50.00

$ 50.00

$500.00

$550.00

$750.00

Page - 3

5.

6.

7.

8.

9.

10.

ll.

12.

For a change of name certificate under section 23 of the Act

For amendment to the Charter or the Articles (if delivered to the Registrar)

For a dissolution certificate under section 50 of the Act

For a restoration certificate under section 51 of the Act

for a certificate of tax exemption under section 64 of the Act

For inspection of the Register under section 57 of the Act

For a copy (cert ified or not) of a document not listed in the Act

For the delivery of any notice or other document to the Registry

Made this tst day of February, 2012.

Signed JOHN K. F. DELANEY, QC

Att:.~rney-General and Minister of Legal Affairs

Page - 4

$ 50.00

$ 50.00

$100.00

$800.00

$150.00

$ 20.00

$ 20.00

$ 10.00