Regulatory Alerts2024-12-27
Notice: BVI Business Companies (Amendment) Act, 2024
The Minister of Financial Services, Economic Development and Digital Transformation issued this notice to appoint the effective date for the BVI Business Companies (Amendment) Act, 2024. Exercising powers under Section 1(2) of the Act, the Minister declared that the legislation shall come into force on January 2, 2025. This notice was gazetted on December 27, 2024, following its signing on December 19, 2024.
VIRGIN ISLANDS STATUTORY INSTRUMENT 2024 NO. 75 BVI BUSINESS COMPANIES (AMENDMENT) ACT, 2024 (No. 15 of 2024) A NOTICE MADE BY THE MINISTER OF FINANCIAL SERVICES, ECONOMIC DEVELOPMENT AND DIGITAL TRANSFORMATION UNDER SECTION 1(2) OF THE BVI BUSINESS COMPANIES (AMENDMENT) ACT, 2024 DECLARING THE DATE ON WHICH THE SAID ACT SHALL COME INTO FORCE [Gazetted 27th December, 2024] WHEREAS it is provided by section 1(2) of the BVI Business Companies (Amendment) Act, 2024 (No. 15 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 2 nd day of January, 2025 to be the date on which the BVI Business Companies (Amendment) Act, 2024 shall come into force. Made by the Minister this 19th day of December, 2024. (Sgd.) Natalio D. Wheatley, Minister of Financial Services, Economic Development and Digital Transformation.