The Investment Funds Act, 2003 (the "IFA") and its
accompanying regulations, the Investment Funds Regulations, 2003
(the "IFR") govern the licensing and regulation of
investment funds in The Bahamas.
Pursuant to the IFA, the Securities Commission of The Bahamas
(the "Commission") has a duty to maintain a general
review of the operations of investment funds and parties related to
investment funds in The Bahamas; further the Commission has the
authority to regulate the investment funds industry and the
operations and duties of investment funds and parties related to an
investment fund.
The IFA defines investment fund as a unit trust, a company or a
partnership which is incorporated or registered pursuant to the
laws of The Bahamas or, in the case of a unit trust, the trust
instrument is governed by the laws of The Bahamas or, in the case
of a partnership, the partnership articles are governed by the laws
of The Bahamas; or whose administrator, investment
