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On 18 January, His Excellency the Governor, Mr. John Rankin, delivered his first Speech from the Throne and the ears of the financial services industry pricked as we heard that:

Harneys has recently acted for a client in a successful court approved arrangement under section 82 of the International Business Companies Act (Cap. 291) (the "Act"). Importantly the arrangement offered significant benefits to a client with a complex corporate transaction that it wished to put in place. The primary benefit in this case was the ability to seek exemption of exchanged securities from registration under the US Securities Act of 1933, as amended (the "Securities Act&q