The sovereign islands of The Bahamas have long been regarded as a premier tax-neutral offshore jurisdiction offering a wide array of financial services and investor-friendly legislation in a politically stable environment. In recent years, the legislative landscape of this archipelago has undergone a renaissance as regards legislation pertaining to the financial services sector. Over the past decade, Parliament has enacted the Fraudulent Dispositions Act, 1991; the Mutual Funds Act, 1995; and, the Trustee Act, 1998. However, it is the Securities Industry Act, 1999 (the "Act"), which forms the cornerstone of the Government's efforts to make The Bahamas the preeminent financial offshore centre. It is anticipated that the Act will come into force by the end of June, 1999.
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