Regulatory Alerts2024-12-27
Notice: Proliferation Financing (Prohibition) (Amendment) Act, 2024
The Minister of Financial Services, Economic Development and Digital Transformation of the Virgin Islands issued this notice to appoint the effective date for the Proliferation Financing (Prohibition) (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 made on December 19, 2024, and gazetted on December 27, 2024.
VIRGIN ISLANDS STATUTORY INSTRUMENT 2024 NO. 73 PROLIFERATION FINANCING (PROHIBITION) (AMENDMENT) ACT, 2024 (No. 20 of 2024) A NOTICE MADE BY THE MINISTER OF FINANCIAL SERVICES, ECONOMIC DEVELOPMENT AND DIGITAL TRANSFORMATION UNDER SECTION 1(2) OF THE PROLIFERATION FINANCING (PROHIBITION) (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 Proliferation Financing (Prohibition) (Amendment) Act, 2024 (No. 20 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 Proliferation Financing (Prohibition) (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.