Consolidated Acts

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This compendium of the Bermuda Investment Business Act 2003 together with related statutory instruments, rules and statutory appointments, incorporating all amendments to date.

The most recent amendments to this Compendium include:

  • amendments to the Investment Business Act 2003, consequential amendments to the Third and Fourth Schedules to the Bermuda Monetary Authority Act 1969, the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act, 2008 and the revocation of the Investment Business (Exemptions) Order 2004, made by the Investment Business Amendment Act 2022, operative 27 July 2022.
  • amendments to the Investment Business Regulations 2004 made by the Investment Business Amendment Regulations 2022 and amendments to the Investment Business (Client Money) Regulations 2004 made by the Investment Business (Client Money) Amendment Regulations 2022, operative 27 July 2022.
  • In addition, the new Investment Business (Prudential Standards) (Standard Licences, Test Licences, and Class A Registered Persons) (Capital, Net Assets and Liquidity) Rules 2022, the Investment Business (Prudential Standards) (Statutory Returns) Rules 2022, the Investment Business (Non-Registrable Persons) (Designation) Order 2022 and the Investment Business (Class B Registered Persons) Order 2022, all operative 27 July 2022, have been included.

The previous amendment to this Compendium included:

  • the repeal and replacement of the Fourth Schedule Fees to the Bermuda Monetary Authority Act 1969 for the Investment Business Act 2003 made by section 5 of the Bermuda Monetary Authority Amendment (No. 2) Act 2021, operative 1 January 2022. To see a complete list of legislative amendments, please see the Table of Statutes and Statutory Instruments.

This publication does not, however, contain the various forms and filings prescribed by the Act, nor have we included the Investment Business Appeals Tribunal Regulations 2004. These are available upon request to Conyers Dill & Pearman.

This compendium is intended for informational purposes only. While every effort has been made to ensure the accuracy of the legislation and related material, and it is believed that the only errors are those contained in the official legislation itself (which errors have been faithfully reproduced), no responsibility is assumed for the content. Reference should be made to the official versions of the legislation for an authoritative statement of the law and any subsequent amendments. Nothing in this compendium is to be considered as creating an attorney-client relationship or indeed any contractual relationship or as rendering legal or professional advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or reader should act or refrain from acting on the basis of any content within this document without first obtaining matter-specific legal and/or professional advice. Conyers accepts no responsibility for any loss or damage, howsoever incurred, which may result from accessing or reliance on this content.

Conyers Dill & Pearman
Hamilton, Bermuda 

July 2022

 

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