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ARTICLE · 06 JULY 2018

Bermuda Companies Act Update

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Bermuda is a popular choice of jurisdiction of incorporation for many businesses listed on Hong Kong's stock exchange.

BermudaWealth Management
Fiona Chan
Fiona Chan
Quinton Tse
Quinton Tse
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Recent legislative and regulatory developments in Bermuda that companies need to be aware of

Bermuda is a popular choice of jurisdiction of incorporation for many businesses listed on Hong Kong’s stock exchange. Companies need to be aware of some of the recent legislative and regulatory developments in Bermuda.

The Companies Amendment Act 2018 (Amendment Act) received Royal Assent on 15 May 2018 but has a retroactive operative date of 21 March 2018. Companies have until 21 September 2018 to be in compliance with the new requirements as thereis a transition period of 6 months from the date it was deemed to be operative.

The Amendment Act added a new section 13(2A) to the Companies Act 1981 which requires companies limited by shares or have a share capital to file with the Registrar of Companies the provisions in its bye-laws in relation to:

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