Regulatory Alerts2025-02-14
Notice: Financial Services Commission (Amendment) Act, 2024
The Minister of Financial Services, Economic Development and Digital Transformation issued this notice to appoint the effective date for the Financial Services Commission (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister formally declared that the legislation shall come into force on February 19, 2025. This declaration was made on February 13, 2025, and published in the Gazette on February 14, 2025.
VIRGIN ISLANDS STATUTORY INSTRUMENT 2025 NO. 18 FINANCIAL SERVICES COMMISSION (AMENDMENT) ACT, 2024 (No. 22 of 2024) A NOTICE MADE BY THE MINISTER OF FINANCIAL SERVICES, ECONOMIC DEVELOPMENT AND DIGITAL TRANSFORMATION UNDER SECTION 1(2) OF THE FINANCIAL SERVICES COMMISSION (AMENDMENT) ACT, 2024 DECLARING THE DATE ON WHICH THE SAID ACT SHALL COME INTO FORCE [Gazetted 14 th February, 2025] WHEREAS it is provided by section 1(2) of the Financial Services Commission (Amendment) Act, 2024 (No. 22 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 19 th day of February, 2025 to be the date on which the Financial Services Commission (Amendment) Act, 2024 shall come into force. Made by the Minister this 13th day of February, 2025. (Sgd.) Natalio Wheatley, Minister of Financial Services, Economic Development and Digital Transformation.