Regulatory Alerts2021-01-08
Financial Services (Exemptions) (Amendment) Regulations, 2021
The Cabinet of the Virgin Islands, acting on the advice of the Financial Services Commission, issued these Regulations to amend the Financial Services (Exemptions) Regulations, 2007. The amendments modify the Schedule by deleting the word 'professional' from paragraph 2(4)(a) and revoking sub-paragraph (i) of paragraph 6(1)(b). These changes were made on January 8, 2021, and the Regulations come into force on a date determined by the Minister via Gazette notice.
No. 3 of 2021 VIRGIN ISLANDS FINANCIAL SERVICES (EXEMPTIONS) (AMENDMENT) REGULATIONS, 2021 ARRANGEMENT OF REGULATIONS Regulation 1… Short title and commencement. 2… Schedule amended.
2 VIRGIN ISLANDS STATUTORY INSTRUMENT 2021 NO. 3 FINANCIAL SERVICES COMMISSION ACT, 2001 (No. 12 of 2001) Financial Services (Exemptions) (Amendment) Regulations, 2021 [Gazetted 8 th January, 2021] The Cabinet, acting on the advice of the Financial Services Commission and in exercise of the powers conferred by section 62 of the Financial Services Commission Act, 2001 (No. 12 of 2001), makes these Regulations. Short title and 1. (1) These Regulations may be cited as the Financial Services (Exemptions) commencement. (Amendment) Regulations, 2020. No. 50 of 2007 (2) These Regulations shall come into force on such date as the Minister may, by Notice published in the Gazette, determine. Schedule 2. The Schedule to the Financial Services (Exemptions) Regulations, 2007 is amended. amended in Part I – (a) in paragraph 2 (4) (a), by deleting the word “professional”; and (b) in paragraph 6 (1) (b), by revoking sub-paragraph (i). Made by the Cabinet this 8 th day of January, 2021. (Sgd.) Sandra Ward, Cabinet Secretary