Bermuda's Charities Amendment Act: Balancing AML/ATF Standards And Privacy

Bermuda's Charities Amendment Act 2018 (Amendment Act) became operative on 10 August 2018 (Commencement Date). The Amendment Act amends the Charities Act 2014 (Act) to:

• modify the conditions that Bermuda privately funded charities must satisfy in order to be exempted from the requirement to apply to be registered on Bermuda's register of charities;
• introduce notification requirements for privately funded charities that consider themselves exempt from the requirement to apply for registration under the Act; and
• create a separate part of its register of charities specifically for registered privately funded charities, which is not available for inspection by the public.

Bermuda introduced these amendments in order to: