Preliminary Administration Public Funds Private Funds Managers and Administrators General Registration of a Public Fund Fee for a Certificate of Compliance Application Fees Annual Fees Objects and Reasons Legal Report
No. of 1996
VIRGIN ISLANDS

MUTUAL FUNDS ACT, 1996

ARRANGEMENT OF SECTIONS

Section

Preliminary

1. Short title and commencement.

2. Interpretation.

PART I

Administration

3. Appointments.

4. Delegation of power.

5. Annual report.

6. Records of the Registrar.

7. Mutual Funds Advisory Committee.

PART II

Public Funds

8. Registration.

9. Application for registration.

10. Application for consent to be registered.

11. Power to grant registration or consent.

12. Registration procedure.

13. Accounting records and financial statements.

14. Duty to publish and file a prospectus.

15. Certificate of compliance.

16. Investors' rights.

17. Limitation of action and amount recoverable.

PART III

Private Funds

18. Recognition.

19. Application for recognition.

20. Power to grant recognition.

21. Recognition procedure.

PART IV

Managers and Administrators

22. Licensing.

23. Application for a licence.

24. Power to grant licences.

25. Licensing procedure.

PART V

General

26. Notices to accompany applications.

27. Form and conditions of certificates and licences.

28. Annual fees.

29. Cancellation of certificates or licences.

30. Cancellation procedure.

31. Appeal of cancellations.

32. Appeal by existing entities.

33. Appeal procedure.

34. Grant or cancellation to be published.

35. Power to grant exemptions.

36. Access to information and records.

37. Immunity and actions by the Registrar.

38. Confidentiality.

39. Exemption from certain enactments.

40. Offences and penalties.

41. Power of the Minister to vary the Schedule.

42. Regulations.

43. Transitional.

SCHEDULE 1

SCHEDULE 2