Regulatory Alerts2011-06-22
Exchange Control (Amendment) Regulations 2001
The Minister responsible for exchange control in Belize issued Statutory Instrument No. 182 of 2001 to amend the principal Exchange Control Regulations. The instrument replaces references to the 'Controller' with the 'Central Bank' and introduces new Parts IX and X to regulate the licensing of cambios and authorize out-of-court settlements for regulatory violations. These changes establish strict fit-and-proper criteria, including a minimum capitalization requirement, and define procedures for license issuance, renewal, and revocation by the Central Bank.
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