Regulatory Alerts2021-06-22
Financing and Money Services (Amendment) Act, 2021
The Legislature of the Virgin Islands enacted the Financing and Money Services (Amendment) Act, 2021 to amend the Financing and Money Services Act, 2009. This legislation inserts a new subsection into section 45A requiring the Commission to retain ten thousand dollars from quarterly transaction levy collections before transferring the remainder to the miscellaneous purposes fund. The Act was assented to on June 14, 2021, and is deemed to have come into force on May 4, 2020.
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