2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

ACT

(Act 22 of 2006)

Act 22 of 2006 .. in force 1 August 2007 (S.I. 101/2007)

Amended by Act 4 of 2012 .. in force 20 October 2012

ARRANGEMENT OF SECTIONS

PART 1
PRELIMINARY

1.Short title
2.Interpretation

PART 2
INTERNATIONAL MUTUAL FUNDS

Division 1
Requirement for Licence or Registration

3.Requirement for licence or registration

Division 2
International Private Mutual Funds

4.Registration of international private mutual fund
5.Name of international private mutual fund

Division 3
International Public Mutual Funds

6.Application for and grant of international public mutual fund licence
7.Name of international public mutual fund
8.Offering document
9.Rights of investors
10.Limitation of action

Division 4
Annual fee

11.Annual fee

PART 3
INTERNATIONAL PUBLIC MUTUAL FUND ADMINISTRATON
AND MANAGEMENT

Division 1
Administration

12.Requirement for international public mutual fund administrator licence
13.Application for and grant of international public mutual fund administrator licence
14.Name of administrator
15.Restriction on issue
16.Annual fee for administrator
17.Direction to increase capital value
18.Notice
19Misrepresentation as administrator
20.Notification
21.Number of directors
22.Compliance by administrator

Division 2
Management

23.Requirement for international public mutual fund manager licence
24.Application for and grant of international public mutual fund manager
25.Name of manager
26.Restriction on issue
27.Annual fee for manager
28.Direction to increase capital value
29.Reputation of promoter
30.Notice
31.Misrepresentation as manager
32.Notification
33.Number of directors
34.Compliance by manager

PART 4
SUPERVISION AND ENFORCEMENT

35.Audited accounts for international public mutual fund licensee
36.Duties of Director relating to international public mutual fund licensee
37.Access to information relating to international public mutual fund licensee
38.Penalties for breach of section 3(1)
39.Unregulated international public mutual funds
40.Audited accounts for administrator
41.Duties of Director relating to administrator
42.Access to information relating to administrator
43.Information for breach of section 12
44.Unlicensed persons acting as administrator
45.Audited accounts for manager
46.Duties of Director relating to manager
47.Access to information relating to manager
48.Information for breach of section 23
49.Unlicensed person acting as manager
50.Power of Director over international private mutual fund
51.Power of Minister over international public mutual fund licensee
52.Power of Minister over administrator or manager

PART 5
MISCELLANEOUS

53.Secrecy
54.Appeal
55.Obligation of auditors
56.Offences triable on indictment
57.Indemnity
58.Exemption from compliance with Trade Licensing Act and Securities Act
59.Exemption from other taxes
60.Regulations
61.Savings

AN ACT to provide for the regulation, authorisation and control of international mutual funds and their administrators and managers, the carrying on of international mutual fund business in or from Saint Lucia and for related matters.

Commencement [1 August 2007]