Gazette

amending-2020-0002

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Section 2

LG9/S2 —

s2Amends the definition of 'licensed mutual fund administrator' by substituting words.

Section 2

LG9/S2 —

s2Amends the definition of 'mutual fund administration' by inserting words.

Section 2

LG9/S2 —

s2Amends the definition of 'mutual fund administrator' by deleting and inserting paragraphs.

Section 2

LG9/S2 —

s2Amends the definition of 'partnership' by inserting words.

Section 2

LG9/S2 —

s2Amends the definition of 'public in the Islands' by deleting and inserting paragraphs.

Section 2

LG9/S2 —

s2Amends the definition of 'registered office' by deleting and substituting a paragraph and inserting paragraphs.

Section 2

LG9/S2 —

s2Amends the definition of 'regulated mutual fund' by substituting words.

Section 4

LG9/S2 —

s4Amends section 4(1) by substituting words.

Section 4

LG9/S2 —

s4Substituted paragraph (b) in subsection 4(1) regarding registration with the Authority.

Section 4

LG9/S2 —

s4Amends section 4(4)(a) by substituting the words '; or' with new requirements for mutual funds.

Section 5

LG9/S2 —

s5Amends section 5(1)(b) by deleting the words ', or (b)'.

Section 8

LG9/S2 —

s8Adds new subsections (1A) and (1B) to section 8 regarding accounting standards and auditing standards.

Section 8

LG9/S2 —

s8Adds new subsection (5) to section 8 defining 'International Financial Reporting Standards' and 'non-high risk jurisdiction'.

Section 9

LG9/S2 —

s9Amends section 9(1) by deleting the words 'licensed' and 'licence'.

Section 30

LG9/S2 —

s30Amends section 30(3)(a) by substituting words.

Section 30

LG9/S2 —

s30Amends section 30(3)(b) by substituting words.

Section 30

LG9/S2 —

s30Amends section 30(3)(d) by substituting words.

Section 30

LG9/S2 —

s30Amends section 30(16) by substituting words.

Section 35

LG9/S2 —

s35Repeals section 35(6) regarding obligation of auditors.

Section 37

LG9/S2 —

s37Repeals section 37 regarding indemnity.

Section 38

LG9/S2 —

s38Repeals section 38 regarding common law restriction on alienation.