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ARTICLE · 03 SEPTEMBER 2018

New Legal Framework For Bermuda Charities

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A recent amendment to charities legislation in Bermuda has enhanced the island's anti-money laundering and anti-terrorist financing (AML/ATF) protections.

BermudaCorporate/Commercial Law
Caljonah Smith
Caljonah Smith
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A recent amendment to charities legislation in Bermuda has enhanced the island's anti-money laundering and anti-terrorist financing (AML/ATF) protections.

The Charities Amendment Act 2018 (Amendment Act), which received Royal Assent and became operative on August 10, amends the Charities Act 2014 (Charities Act) to bring certain charities that are privately funded within the scope of the Charities Act, thereby enhancing Bermuda's AML/ATF legislative framework for charities that are privately funded.

Previously, the Charities Act did not address the requirements for privately funded charities. However, the Amendment Act now ensures that Bermuda's legislation governing charities complies with international AML/ATF standards.

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