Innovative Legislation In Anguilla

When options for upgrading Anguilla's financial services legislation were being considered, the decision taken was to replace, rather than amend, the existing legislation with a wide range of specially developed Ordinances. Since 1995, Anguilla has had the benefit of a comprehensive, well integrated and cohesive package of financial services legislation.

The legislation is designed to afford flexibility to practitioners and contains many innovative provisions. The Trusts Ordinance, for example, abolishes the Rule Against Perpetuities and permits accumulation of income throughout the entire term of the trust. In line with modern developments in trust law, purpose trusts are permitted and the concept of a protector has been introduced. Asset protection trusts and forced heirship are also catered for in the new legislation.