Regulatory Alerts2023-03-21
Securities and Investment Business (Amendment) Act, 2023
The Legislature of the Virgin Islands enacted this Act to amend the Securities and Investment Business Act, Revised Edition 2020. It introduces a new definition of “controlling interest” and revises the existing “significant interest” criteria to clarify voting rights, distributions, and director appointments. The legislation updates Sections 6, 11, and 64 by appending “or controlling interest” to ensure consistent regulatory oversight across licensing requirements and corporate governance provisions.
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