Financial Services (Exceptional Circumstances) (Amendment) Act, 2025

No. 1 of 2025 VIRGIN ISLANDS FINANCIAL SERVICES (EXCEPTIONAL CIRCUMSTANCES) (AMENDMENT) ACT, 2025 ARRANGEMENT OF SECTIONS SECTION

1. Short title and commencement
2. Section 2 amended
3. Deletion of heading
4. Section 5 repealed
5. Section 6 repealed
6. Section 7 repealed
7. Section 8 repealed

2 No. 1 of 2025 Financial Services (Exceptional Virgin Circumstances) (Amendment) Act, 2025 Islands I ASSENT (Sgd.) Daniel Pruce, Governor. 30th January, 2025 VIRGIN ISLANDS No. 1 of 2025 AN ACT TO AMEND THE FINANCIAL SERVICES (EXCEPTIONAL CIRCUMSTANCES) ACT, 2020 (NO. 4 OF 2020) TO REPEAL SECTIONS 5, 6, 7 AND 8 AND FOR OTHER MATTERS CONNECTED THEREWITH. [Gazetted 4 th February, 2025] ENACTED by the Legislature of the Virgin Islands as follows: Short title and commencement

1. (1) This Act may be cited as the Financial Services (Exceptional Circumstances) (Amendment) Act, 2025. (2) This Act shall come into force on such date as the Minister may, by Notice published in the Gazette, appoint. Section 2 amended
2. The Financial Services (Exceptional Circumstances) Act, 2020 (No. 4 of

2020. (hereinafter referred to as the “principal Act”) is amended in section 2(1) by deleting the definition of the words “Board”, “Chairman”, “EC”, “LSC” and “Managing Director”. Deletion of heading

3. The principal Act is amended by deleting the heading titled “Administration” appearing immediately before section 5. Section 5 repealed
4. The principal Act is amended by repealing section 5.

3 Section 6 repealed 5. The principal Act is amended by repealing section 6. Section 7 repealed 6. The principal Act is amended by repealing section 7. Section 8 repealed 7. The principal Act is amended by repealing section 8. Passed by the House of Assembly this 7 th day of January, 2025. (Sgd.) Corine N. George-Massicote, Speaker (Sgd.) Linton Leonard, Acting Clerk of the House of Assembly