Private Trust Companies (Amendment) (No. 2) Regulations, 2019

Banks and Trust Companies Law (2018 Revision) PRIVATE TRUST COMPANIES (AMENDMENT) (NO. 2) REGULATIONS,

PUBLISHING DETAILS

Regulation 1

Banks and Trust Companies Law (2018 Revision)

PRIVATE TRUST COMPANIES (AMENDMENT) (NO. 2) REGULATIONS, 2019 In exercise of the powers conferred by section 27 of the Banks and Trust Companies Law (2018 Revision) the Cabinet makes the following Regulations — Citation These Regulations may be cited as the Private Trust Companies (Amendment) (No. 2) Regulations, 2019. Amendment of regulation 2 of the Private Trust Companies Regulations (2013 Revision) - definitions The Private Trust Companies Regulations (2013 Revision) are amended in regulation 2 by inserting in the appropriate alphabetical sequence, the following definitions — “ “enforcer” has the meaning assigned in section 95(1) of the Trusts Law (2018 Revision); and “protector” means a person appointed under a trust instrument to direct or restrain a trustee in relation to the trustee’s administration of the trust;”.

Regulation 3

Amendment of regulation 3 of the Private Trust Companies Regulations (2013 Revision) - registered office The Private Trust Companies Regulations (2013 Revision) are amended in regulation 3(2) — (a) by inserting after the words “relevant trust,” the words “adequate, accurate and”; and (b) by inserting after subparagraph (b), the following subparagraphs — “ (ba) the name and address of the settlor; (bb) the name and address of any protector; (bc) the name and address of any enforcer;”.

Made in Cabinet the 25th day of June, 2019.

Kim Bullings Clerk of the Cabinet