Regulatory Alerts2017-12-14
International Banking (Amendment) Act, 2017
The Government of Belize enacted the International Banking (Amendment) Act, 2017 to modify the categories of publicly owned or controlled entities eligible for international banking transactions. The legislation amends Section 22 of the principal Act to explicitly include entities wholly owned or subject to majority control by the Government of Belize or jointly by the Government and the Social Security Board. It further defines majority control as possessing sufficient influence through share ownership or voting power to direct an entity's affairs.
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