Improvements To Bermuda’s Company Law

On 14 December 2011, following a comprehensive review of the Bermuda Companies Act 1981 (the "Companies Act" ) undertaken by the Legislative Change Committee of Business Bermuda, of which Appleby (Bermuda) Limited is an active participant, and in collaboration with the Ministry of Business Development and Tourism, the Senate passed the Companies Amendment (No.2) Act 2011 (the "Amendment Act" ).

The Amendment Act updates and improves Bermuda's company law and provides, amongst other benefits, the opportunity for simplified management and operation of Bermuda companies, widened exemption from the requirement for transfer of listed securities by written instrument and an enhanced choice of corporate structures for mergers and acquisitions aimed at making Bermuda a more attractive and competitive jurisdiction.