The BVI has introduced data protection legislation, the Data
Protection Act, 2021 (the DPA), which came into
force on 9 July 2021.
This guide summarises the new law and what you need to do to
comply with it. If you are a bond issuer or an investment fund,
please consult the specific guidance in sections 5 and 6,
below.
1. Why was the DPA introduced?
The DPA was introduced so that the BVI would have a framework
for the protection of personal data which is broadly similar to the
principles that apply in the UK and EU under the General Data
Protection Regulation 2016/679 (GDPR).
The objectives of the DPA are expressed to be twofold:
- to safeguard personal data processed by public bodies and
private bodies by balancing the necessity of processing personal
data with protecting it from unlawful processing by public bodies
and private bodies; and
