Regulatory Alerts2024-12-12
Trustee (Amendment) Act, 2024
The Minister of Financial Services, Economic Development and Digital Transformation has issued a statutory notice declaring the commencement date for the Trustee (Amendment) Act, 2024. Exercising statutory powers under Section 1(2), the notice formally appoints December 10, 2024 as the effective date for all amended provisions. This declaration ensures that updated trustee regulations and fiduciary obligations become legally binding immediately upon the specified date.
VIRGIN ISLANDS STATUTORY INSTRUMENT 2024 NO. 65 TRUSTEE (AMENDMENT) ACT, 2024 (No. 16 of 2024) A NOTICE MADE BY THE MINISTER OF FINANCIAL SERVICES, ECONOMIC DEVELOPMENT AND DIGITAL TRANSFORMATION UNDER SECTION 1 OF THE TRUSTEE (AMENDMENT) ACT, 2024 DECLARING THE DATE ON WHICH THE SAID ACT SHALL COME INTO FORCE [Gazetted 12th December, 2024] WHEREAS it is provided by section 1(2) of the Trustee (Amendment) Act, 2024 (No. 16 of 2024) that the said Act shall come into force on such date as the Minister may, by Notice published in the Gazette, appoint; NOW THEREFORE, in exercise of the powers vested in me, I hereby appoint the 10th day of December, 2024 to be the date on which the Trustee (Amendment) Act, 2024 shall come into force. Made by the Minister this 10th day of December, 2024. (Sgd.) Hon. Dr. Natalio D. Wheatley Minister of Financial Services, Economic Development and Digital Transformation.