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St Lucia IFC

Legislation: Registered Agent and Trustee Licensing

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Amendments

Registered Agent and Trustee Licensing (Amendment) Act

I Assent

CORNELIUS LUBIN

Deputy Governor-General

August 2, 2012

SAINT LUCIA

————

No. 5 of 2012

AN ACT to amend the Registered Agent and Trustee Licensing Act, Cap. 12.12.

[20th October, 2012]

BE IT ENACTED by the Queen’s Most Excellent Majesty, by and with the advice and consent of the House of Assembly and the Senate of Saint Lucia, and by the authority of the same, as follows:
    Short Title
    1. This Act may be cited as the Registered Agent and Trustee Licensing (Amendment) Act 2012.
    Interpretation

    2. In this Act "principal Act" means the Registered Agent and Trustee Licensing Act, Cap.12.12.

    Amendment of section 2

    3. Section 2 of the principal Act is amended by repealing the definitions of "international accounting standards" and "International Accounting Standards Committee" and replacing them with the following:

    "International standards on auditing" means the standards of auditing issued by the International Federation of Accountants through the International Auditing and Assurance Standards Board;

    "International Auditing and Assurance Standards Board" means the International Auditing and Assurance Standards Board established by the International Federation of Accountants;

    Amendment of section 19

    4. Section 19(1) of the principal Act is amended by deleting the words "accounting standards" where they appear after the word "international" and replacing them with the words "standards on auditing".


Passed in the House this 26th day of June, 2012.

PETER I. FOSTER,
Speaker of the House


Passed in the Senate this 10th day of July, 2012.

CLAUDIUS J. FRANCIS,
President of the Senate




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Registered Agent and Trustee Licensing
(Amendment) Regulations

SAINT LUCIA

STATUTORY INSTRUMENT, 2001, No. 33

[ 17th March, 2001 ]

The Minister for International Financial Services, in exercise of the power conferred by section 29 of the Registered Agent and Trustee Licensing 1999, No.37, makes these Regulations:

  1. Citation

    These Regulations may be cited as the Registered Agent and Trustee Licensing (Amendment) Regulations 2001.

  2. Replacement of Regulation 3

    Regulation 3 of the Registered Agent and Trustee Licensing Regulations 2000, No. 28 is revoked and replaced by the following:

  3. Application for licence and fees
    1. In this regulation —

      "annual licence fees" means the annual fee pursuant to section 7 of the Act and regulation 5 of the Regulations;

      "prescribed licence fee" means the prescribed licence fee pursuant to section 6 of the Act.

    2. A person who is applying for a licence under section 5 of the Act shall apply in the form as prescribed in form lA or IB of the Second Schedule and shall furnish with such application fee the application fee prescribed in the First Schedule.
    3. Where a licence is granted between —
      1. the 1st day ofJanuary and the 31st day of March or on either of these dates, the prescribed licence fee payable on the grant of the licence shall be the full annual licence fee;
      2. the 1st day of April and the 30th day of June or on either of these dates, the prescribed licence fee payable on the grant of the licence shall be seventy-five percent of the annual licence fee;
      3. the 1st day of July and the 30th day of September or on either of these dates, the prescribed licence fee payable on the grant of the licence shall be fifty percent of the annual licence fee;
      4. the 1st day of October and the 31st day of December or on either of these dates, the prescribed licence fee payable on the grant of the licence shall be twenty-five percent of the annual licence fee."
  4. Amendment of regulation 5

    Regulation 5 of the Registered Agent and Trustee Licensing Regulations 2000, No.2 is amended by inserting the following as sub-regulation (3):

    "(3) The annual licence fee should be paid on or before the 1st day of January in the year following the grant of the licence.".

  5. Commencement

    These Regulations shall be deemed to have come into force on the 9th day of February, 2000.

PHILIP J. PIERRE,

Minister for International Financial Services


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Registered Agent and Trustee Licensing
(Amendment) Act

I Assent

PEARLETTE LOUISY
Governor-General

30

SAINT LUCIA

————

No. 17 of 2001

AN ACT to amend the Registered Agent and Trustee Licensing Act 1999, No. 37 to permit the exercise of the powers of the Director during his or her absence or unavailability.

[8th September, 2001]

BE IT ENACTED by the Queen’s Most Excellent Majesty, by and with the advice and consent of the House of Assembly and the Senate of Saint Lucia, and by the authority of the same, as follows:
  1. Short Title

    This Act may be cited as the Registered Agent and Trustee Licensing (Amendment) Act, 2001.

  2. Insertion of section 13A

    The Registered Agent and Trustee Licensing Act 1999, No. 37 is amended by inserting the following section immediately after section 13 —

    "Delegation by Minister

    13A — (1) The Minister may, in the absence or unavailability of the Director, delegate in writing on such terms and conditions as the Minister thinks fit, to a senior officer employed in the Department of Government responsible for international financial services supervision, any of the powers of the Director under this Act except the power conferred upon the Director under section 13.

    (2) A delegation under subsection (1) shall be revocable at any time by the Minister and in any event shall immediately cease upon the assumption of office by the Director.".




Passed in the House of Assembly this 26th day of June, 2001.

MATTHEW ROBERTS,
Speaker of the House of Assembly.


Passed in the Senate this 21st day of August, 2001.

HILFORD DETERVILLE,
President of the Senate.




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Registered Agent and Trustee Licensing
(Amendment) Act

SAINT LUCIA

No. 2 of 2000

An ACT to amend Registered Agent and Trustee Licensing Act.

[ 1 st April, 2000 ]

BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the House of Assembly and the Senate of Saint Lucia, and by the authority of the same as follows:

  1. Short title and commencement
    1. This Act may be cited as the Registered Agent and Trustee Licensing (Amendment) Act, 2000.
    2. This Act shall be deemed to have come into force on the 26th day of January 2000.
  2. Interpretation

    In this Act "principal Act" means the Registered Agent and Trustee Licensing Act, 1999, No. 37.

  3. Amendment to section 6

    Section 6 (1) of the principal Act is amended by deleting the words "and duly certified by the Financial Centre Corporation" occurring in that section.

  4. Amendment to section 20

    Section 20 (1) (f) of the principal Act in amended by inserting the word "failed" between the words "has" and "to" occurring in that section.



    Passed in the House of Assembly this 29th day of February, 2000.

    MATTHEW ROBERTS
    Speaker of the House of Assembly

    Passed in the Senate this 7th day of March, 2000.

    HILFORD DETERVILLE
    President of the Senate


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