Regulatory Alerts2009-01-01
Financial Institutions (Miscellaneous Provisions and Validation) Act, 2009
The Parliament of Barbados enacted this Act to amend specific financial regulations and validate licence fees collected under the 2008 Financial Statement. The legislation increases licence fees for exempt insurance, general insurance, and various financial institutions by amending the Exempt Insurance Regulations, Insurance Regulations, and Financial Institutions (Fees) Regulations. Furthermore, it retrospectively validates licence fees paid between January 1, 2009, and the Act's commencement, deeming them validly collected despite provisional tax collection limitations.
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