RegAlert

Rule · FSC · 2 Apr 2020

Public Funds (Amendment) Code, 2020

securities
disclosure

The Financial Services Commission of the Virgin Islands amended Section 15 of the Public Funds Code by inserting a new paragraph requiring fund property to be valued at least annually. This statutory instrument adjusts existing punctuation and structural references while formally establishing the annual valuation mandate for regulated entities. Deemed effective upon the commencement of the 2019 Amendment Act, the updated Code directly governs ongoing valuation compliance standards.

British Virgin IslandsBritish Virgin Islands Financial Services Commission

VIRGIN ISLANDS
PUBLIC FUNDS (AMENDMENT) CODE, 2020
ARRANGEMENT OF SECTIONS
Section

  1. Citation and commencement.
  2. Section 15 amended.

VIRGIN ISLANDS
STATUTORY INSTRUMENT 2020 NO. 26
SECURITIES AND INVESTMENT BUSINESS ACT, 2010 (No. 2 of 2010) Public Funds (Amendment) Code, 2020 [Gazetted 2 nd April, 2020] The Financial Services Commission, in exercise of the powers conferred by section 63 of the Securities and Investment Business Act, 2010 (No. 2 of 2010) and with the approval of its Board, issues this Public Funds Code Amendment.

  1. (1) This Code may be cited as the Public Funds (Amendment) Code, 2020.
    (2) This Code shall be deemed to have come into force on the date that the Securities and Investment Business (Amendment) Act, 2019 was brought into force.
  2. Section 15 of the Public Funds Code is amended in subsection (2)⸻
    (a) by removing the word “and” at the end of paragraph (b); (b) by deleting the full-stop at the end of paragraph (c) and substituting the word, “; and”; and (c) by inserting immediately after paragraph (c), the following new paragraph⸻ “(d) contain a requirement that fund property is valued at least on an annual basis.”. Issued by the Financial Services Commission on this 1 st day of April, 2020. (Sgd.) Kenneth Baker, Ag. Managing Director Citation and commencement. No. 12 of 2019
    Section 15
    amended.

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

Securities and Investment BusinessAct, 2010 (No. 2 of 2010)Not in RegAlertSecurities and Investment Business Act, 2010 (No. 2 of 2010) — Not in RegAlertPublic Funds (Amendment) Code,20202020-04-02 · this documentPublic Funds (Amendment) Code, 2020 (2020-04-02)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Issued under
  • Securities and Investment Business Act, 2010 (No. 2 of 2010)Not in RegAlert

    “The Financial Services Commission, in exercise of the powers conferred by section 63 of the Securities and Investment Business Act, 2010 (No. 2 of 2010)”

More like this from FSC

We email you every new FSC publication the day it's published.

Source: British Virgin Islands Financial Services Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

In RegAlert: added · updated