LEGAL NOTICE
IN THE MATTER OF
THE COMPANIES ACT 1981
(“the Act”)
NOTICE IS HEREBY GIVEN that Cynthia Holmes Williams is applying to incorporate a local company with limited liability to be called:
Long Term Recovery Limited
which shall have unrestricted objects.
Quorum Limited
The Companies Act, 1981
(“the Act”)
NOTICE IS HEREBY GIVEN that Ms. Keiva Maronie is applying to incorporate a local company with limited liability to be called:
SLB Global (Bermuda) Ltd.
which shall have unrestricted objects and the capacity rights, powers and privileges of a natural person.
Amicus Law
Chambers
Attorneys for
the Applicant
IN THE MATTER OF THE COMPANIES ACT 1981
and
IN THE MATTER OF
PAREX ENERGY
COLOMBIA LTD.
NOTICE IS HEREBY GIVEN that it is proposed that the above named Company intends to discontinue in Bermuda as per Section 132(G) of the Companies Act 1981 and continue in Barbados as if the Company had been incorporated under the laws of Barbados.
Dated this 17th day of January, 2012 at Hamilton, Bermuda
By Order of
the Board
Theresa Grant
Secretary
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Ammin Coal
Investments Limited
The Members of the above-named Company, acting by written consent without a meeting on January 17, 2012, passed the following resolutions:
(1) THAT the Company be wound up voluntarily, pursuant to the provisions of the Companies Act 1981;
(2) THAT Alexander Pace-Bonello be appointed Liquidator for the purposes of such winding-up, such appointment to be effective forthwith;
Codan Services
Limited
Secretary
IN THE MATTER OF: The Companies Act 1981
MEMBERS’ VOLUNTARY WINDING-UP
NOTICE OF APPOINTMENT OF LIQUIDATOR
Ammin Coal
Investments Limited
TO:
The Registrar of Companies:
I, Alexander Pace-Bonello of Anglo American Luxembourg, 48 rue de Brangance, L-1255, Luxembourg, hereby give you notice that I have been appointed Liquidator of Ammin Coal Investments Limited (the “Company”) by a resolution of the Company dated January 17, 2012.
Alexander
Pace-Bonello
Liquidator
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Ammin Coal
Investments Limited
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that the Creditors of the above named Company, which is being voluntarily wound up, are required, on or before February 3, 2012, to send their full Christian and Surnames, their addresses and descriptions, full particulars of their debts or claims, and the names and addresses of their solicitors (if any) to Alexander Pace-Bonello, the undersigned, c/o Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, the Liquidator of the said Company, and if so required by notice in writing from the said Liquidator, and personally or by their solicitors, to come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.
DATED: January 20, 2012
Alexander
Pace-Bonello
Liquidator
IN THE MATTER OF:
The Companies Act 1981
- and -
IN THE MATTER OF:
Ammin Coal
Investments Limited
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that a final general meeting of the Member(s) of the above named Company will be held at the offices of Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda on February 24, 2012 at 10:00 a.m., or as soon as possible thereafter, for the purposes of:-
(1) receiving an account laid before them showing the manner in which the winding-up of the Company has been conducted and its property disposed of and of hearing any explanation that may be given by the Liquidator; and
(2) by resolution determining the manner in which the books, accounts and documents of the Company and of the Liquidator shall be disposed of; and
(3) by resolution dissolving the Company.
DATED: January 20, 2012
Alexander
Pace-Bonello
Liquidator
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Epicor International Ltd.
(the “Company”)
The Members of the above-named Company, acting by written consent without a meeting on 13 January 2012 passed the following resolutions:
(1) THAT the Company be wound up voluntarily, pursuant to the provisions of the Companies Act 1981;
(2) THAT Robin J Mayor be and she is appointed Liquidator for the purposes of such winding-up, such appointment to be effective forthwith.
Codan Services
Limited
Assistant Secretary
IN THE MATTER OF: The Companies Act 1981
MEMBERS’ VOLUNTARY WINDING-UP
NOTICE OF APPOINTMENT OF LIQUIDATOR
Epicor International Ltd.
TO: The Registrar of Companies:
I, Robin J Mayor of Clarendon House, 2 Church Street, Hamilton HM 11 in the Islands of Bermuda, hereby give you notice that I have been appointed Liquidator of Epicor International Ltd. (the “Company”) by a resolution of the Company dated 13 January 2012.
Robin J Mayor
Liquidator
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Epicor International Ltd.
(the “Company”)
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that the Creditors of the above named Company, which is being voluntarily wound up, are required, on or before 3 February 2012 to send their full Christian and Surnames, their addresses and full particulars of their debts or claims, and the names and addresses of their lawyers (if any) to Robin J Mayor, the undersigned, at Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, the Liquidator of the said Company, and if so required by notice in writing from the said Liquidator, and personally or by their lawyers, to come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.
Dated: 20 January 2012
Robin J Mayor
Liquidator
IN THE MATTER OF:
The Companies Act 1981
- and -
IN THE MATTER OF:
Epicor International Ltd.
(the “Company”)
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that a final general meeting of the Members of the above named Company will be held at the offices of Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda on 28 February 2012 at 9.30am, or as soon as possible thereafter, for the purposes of:
(1) receiving an account laid before them showing the manner in which the winding-up of the Company has been conducted and its property disposed of and of hearing any explanation that may be given by the Liquidator; and
(2) by resolution determining the manner in which the books, accounts and documents of the Company and of the Liquidator shall be disposed of; and
(3) by resolution dissolving the Company.
Dated: 20 January 2012
Robin J Mayor
Liquidator
THE COMPANIES ACT, 1981
SPECIAL RESOLUTION
OF
TransGlobal Limited
(the “Company”)
The Sole Member of the above-named Company, at a special general meeting held on the 16th day of January, 2012, passed the following resolutions:
(1) that the Company be wound up voluntarily pursuant to the provisions of the Companies Act, 1981 and the Companies (Winding Up) Rules 1982.
(2) that Roderick M. Forrest be appointed Liquidator for the purposes of such winding-up, such appointment to be effective forthwith.
Dated: 20 January, 2012
M Q Services Ltd.
Assistant Secretary
NOTICE OF APPOINTMENT OF LIQUIDATOR
MEMBER’S VOLUNTARY WINDING-UP
Name of Company:
TransGlobal Limited
(the “Company”)
I, Roderick M. Forrest of Victoria Place, 31 Victoria Street, Hamilton, in the Islands of Bermuda, hereby give you notice that I have been appointed Liquidator of TransGlobal Limited by a resolution of the Company dated 16 January, 2012.
Roderick M. Forrest
Liquidator
Dated: 20 January, 2012
IN THE MATTER OF: THE COMPANIES ACT, 1981
AND IN THE MATTER OF
TransGlobal Limited
(IN MEMBER’S VOLUNTARY LIQUIDATION)
NOTICE is hereby given that the Creditors of the above named company are required on or before 6 February, 2012, to send their names and addresses and particulars of their debts or claims to the undersigned, the Liquidator of the said company in care of Wakefield Quin Limited at Victoria Place, 31 Victoria Street, Hamilton HM 10, Bermuda, and if so required by notice in writing from the said Liquidator to come in and prove their said debts or claims at such time and place as shall be specified in such notice or in default of any of the above requirements they will be excluded from the benefit of any distribution made before such debts are proved.
Dated: 20 January, 2012
Roderick M. Forrest
Liquidator
IN THE MATTER OF: The Companies Act, 1981
and
IN THE MATTER OF
TransGlobal Limited
(the “Company”)
(In Member’s Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that a Final General Meeting of the Members of the above named Company will be held at the offices of Wakefield Quin Limited, Victoria Place, 31 Victoria Street, Hamilton, Bermuda on the 21st day of February, 2012 at 10:00 a.m., or soon as possible thereafter, for the purposes of: having an account laid before them showing the manner in which the winding-up has been conducted and how the property of the Company has been disposed of and of hearing any explanation that may be given by the Liquidator; determining by Resolution the manner in which the books, accounts and documents of the Company and of the Liquidator thereof, shall be disposed of; and by Resolution dissolving the Company.
Dated: 20 January, 2012
Roderick M. Forrest
Liquidator
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Dominion Pension Plan Trustees (Bermuda) Limited
The Members of the above-named Company, acting by written consent without a meeting on January 18, 2012, passed the following resolutions:
(1) THAT the Company be wound up voluntarily, pursuant to the provisions of the Companies Act 1981;
(2) THAT Robin J Mayor be appointed Liquidator for the purposes of such winding-up, such appointment to be effective forthwith;
John B. Nusum
Secretary
IN THE MATTER OF: The Companies Act 1981
MEMBERS’ VOLUNTARY WINDING-UP
NOTICE OF APPOINTMENT OF LIQUIDATOR
Dominion Pension Plan Trustees (Bermuda) Limited
TO:
The Registrar of Companies:
I, Robin J Mayor of Clarendon House, 2 Church Street, Hamilton HM 11 in the Islands of Bermuda, hereby give you notice that I have been appointed Liquidator of Dominion Pension Plan Trustees (Bermuda) Limited (the “Company”) by a resolution of the Company dated January 18, 2012.
Robin J Mayor
Liquidator
IN THE MATTER OF:
The Companies Act 1981
IN THE MATTER OF:
Dominion Pension Plan Trustees (Bermuda) Limited
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that the Creditors of the above named Company, which is being voluntarily wound up, are required, on or before February 3, 2012, to send their full Christian and Surnames, their addresses and descriptions, full particulars of their debts or claims, and the names and addresses of their solicitors (if any) to Robin J Mayor, the undersigned, at Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, the Liquidator of the said Company, and if so required by notice in writing from the said Liquidator, and personally or by their solicitors, to come in and prove their debts or claims at such time and place as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.
DATED: January 20, 2012
Robin J Mayor
Liquidator
IN THE MATTER OF:
The Companies Act 1981
- and -
IN THE MATTER OF:
Dominion Pension Plan Trustees (Bermuda) Limited
(In Members’ Voluntary Liquidation)
NOTICE IS HEREBY GIVEN that a final general meeting of the Member(s) of the above named Company will be held at the offices of Conyers Dill & Pearman Limited, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda on February 24, 2012 at 10:30 a.m., or as soon as possible thereafter, for the purposes of:-
(1) receiving an account laid before them showing the manner in which the winding-up of the Company has been conducted and its property disposed of and of hearing any explanation that may be given by the Liquidator; and
(2) by resolution determining the manner in which the books, accounts and documents of the Company and of the Liquidator shall be disposed of; and
(3) by resolution dissolving the Company.
DATED: January 20, 2012
Robin J Mayor
Liquidator
IN THE SUPREME COURT OF BERMUDA
FORM 2
NOTICE OF INTENTION TO APPLY FOR ADMINISTRATION
In the Estate of
Constance Marie
Telford
deceased.
Notice is hereby given that BROWNE SCOTT Attorneys for the Estate of Constance Marie Telford deceased formerly of 1 Whaling Hill Lane, Southampton Parish in the Islands of Bermuda intends to apply to the Supreme Court of Bermuda for the Grant of Administration of the Estate of CONSTANCE MARIE TELFORD , deceased, and that such application may be granted, unless within fifteen days of the date of this notice a caveat shall be entered in the Registry of the Supreme Court, Hamilton by any person objecting to such grant.
Dated this day of 2012.
Signature of Applicant
Michael Scott
BROWNE SCOTT
IN THE SUPREME COURT OF BERMUDA
FORM 2
NOTICE OF INTENTION TO APPLY FOR ADMINISTRATION
In the Estate of
Vernell Eugene Smith
deceased.
Notice is hereby given that BROWNE SCOTT Attorneys for the Estate of Vernell Eugene Smith deceased formerly of 24 Cochrane Road Sandy’s Parish in the Islands of Bermuda intends to apply to the Supreme Court of Bermuda for the Grant of Administration of the Estate of Vernell Eugene Smith, deceased, and that such application may be granted , unless within fifteen days of the date of this notice a caveat shall be entered in the Registry of the Supreme Court, Hamilton by any person objecting to such grant.
Dated this day of 2012.
Signature of Applicant
Michael Scott
BROWNE SCOTT
IN THE SUPREME COURT OF BERMUDA
IN THE ESTATE OF
MARIAN ELIZABETH SMITH
(DECEASED)
NOTICE is hereby given to creditors and others having any debts, claims and demands against the Estate of Marian Elizabeth Smith late, of 8 South Breakers Road, Smith’s HS01, Bermuda who died on the 17th day of April 2010 that they are hereby required to forward the particulars of their debts, claims and demands to the undersigned on or before the 20th February, 2012, after which date the Estate representative(s) will proceed to distribute the assets of the said Deceased amongst the persons entitled thereto, having regard only to the debts, claims and demands of which they shall then have had notice; and that they will not be liable for the said real and personal estate so conveyed or distributed to any creditors, person or persons of whose debts, claims and demands they shall not then have had notice.
Dated this 6th day of January 2012
MELLO JONES
& MARTIN
Barristers
& Attorneys
Thistle House
4 Burnaby Street
Hamilton HM 11
Attorneys for
the Intended
Administrator
THE BERMUDA MONETARY AUTHORITY 2012 FEES
EFFECTIVE 1st JANUARY 2012
For the convenience of the public, the following is a summary of the 2012 Fees for regulated entities pursuant to Schedule 4 of the Bermuda Monetary Authority Act 1969, the Banks and Deposit Companies Act 1999, the Banks and Deposit Companies (Fees) Act 1975, the Insurance Act 1978, the Investment Business Act 2003, the Investment Funds Act 2005, the Trusts (Regulation of Trust Business) Act 2001 and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008.
Guidance Notes
Regarding annual business fees for Class 3A insurers
The Authority will be using its relevant powers under the Insurance Act 1978 to reduce the 2012 annual business fee for Class 3A insurers in accordance with the following schedule:
Class 3A insurer carrying on general business where gross premium is expected to:
not exceed $5…………………………………………………………… $19,000
exceed $5M but not exceed $20M…………………………………… $22,500
exceed $20M but not exceed $35M………………………………….. $26,000
exceed $35M…………………………………………………………….. $30,000
Regarding fees for Internal Capital Model Review
For purposes of determining applicable fees for the Internal Capital Model review and approval process, the following clarification is provided:
(1) Under the Heading Insurance Act 1978 in the attached schedule, Paragraph 2 (m) is intended to refer to the pre-application process.
(2) Under the Heading Insurance Act 1978 in the attached schedule, Paragraph 2 (p) is intended to be applicable for each changed section of an internal model where approval is sought subsequent to the initial model approval.
The Banks and Deposit Companies Act 1999
(1) Application for a licence pursuant to section 13(1)………………….. $22,050
(2) Annual fee pursuant to section 116
(a) where an institution falls in band A………………………………. $18,200
(b) where an institution falls in band B……………………………….. $121,300
(c) where an institution falls in band C……………………………….. $242,550
(3) For the purposes of paragraph (2) an institution falls:
(a) in band A if it has consolidated gross assets not exceeding $500 million;
(b) in band B if it has consolidated gross assets exceeding $500 million, but not exceeding $2 billion;
(c) in band C if it has consolidated gross assets exceeding $2 billion
(4) in this paragraph “consolidated gross assets” does not include assets included within the consolidated financial statements of a subsidiary company of the institution which is separately licensed under the Banks and Deposit Companies Act 1999.
Annual fees in respect of (2) above are due on or before 31st March 2012.
The Banks and Deposit Companies (Fees) Act 1975
Annual fee pursuant to section 3 –
(a) where the bank has consolidated gross assets (in all currencies)
of less than $2B in value……………………………………………… $262,500
(b) where the bank has consolidated gross assets (in all currencies)
of $2B but less than $5B in value…………………………………… $1,443,750
(c) where the bank has consolidated gross assets (in all currencies)
of $5B or more in value………………………………………………. $1,575,000
(d) every deposit company………………………………………………. $10,500
Annual fees in respect of the above are due on or before 31st January 2012
The Bermuda Monetary Authority Act 1969
Application for a licence to carry on money service business
pursuant to the Money Service Business Regulations 2007
made under section 20AA(2) of the Bermuda Monetary Auth-
ority Act 1969……………………………………………………………. $5,000
Annual Fee pursuant to the Regulations………………………… $5,000
Annual fees in respect of the above are due on or before 31st January 2012.
The Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008
Application fee under section 14(1)……………………………….. $105
Annual fee pursuant to section 14(2)……………………………… $825
Annual fees in respect of above are due on or before 31st March 2012.
The first annual fee payable on registration shall be payable on approval and or on or before 31st March every year thereafter.
The Insurance Act 1978
(1) Applying for registration as:-
(a) an insurer under section 4(1)……………………………………….. $580
(b) an insurance manager, broker or agent under section 10…….. $315
(c) an insurance salesman under section 10………………………… $75
(2) Applying:-
(a) to vary or delete any conditions imposed on the Certificate of
Registration under section 4(3)……………………………………. $390
(b) to register as a different class of insurer under section 4(6).... $390
(c) [repealed]
(d) to be granted an extension to the filing deadline under section
17(4)……………………………………………………………………… $580
(e) to be exempted from the record keeping requirements of sec-
tion 18C(2)……………………………………………………………… $390
(ea) to notify new or increased shareholder control under section
30D………………………………………………………………………. $390
(f) to file an affidavit prior to the payment of dividends exceeding
25% of a Class 4 insurer’s statutory capital and surplus under
section 31B……………………………………………………………… $390
(g) to receive Bermuda Monetary Authority approval for an insurer
to reduce total statutory capital by 15% or more under section
31C………………………………………………………………………. $580
(h) to be granted a direction under section 56 other than those
mentioned in paragraph (ha)………………………………………. $390
(ha) to be granted a direction under section 56 in respect of:-
(i) exemption from requirement of section 18B to include
opinion of Loss Reserve Specialist………………………… $390
(ii) modifying of accounting provisions under sections 15
to 18 and Regulations ……………………………………….. $580
(iii) modifying margin of solvency for general business
under section 33 and Regulations…………………………. $390
(iv) modifying statutory financial returns under sections
15 to 18 Regulations………………………………………….. $390
(i) to be granted a direction under section 57A…………………….. $1,450
(j) to receive Bermuda Monetary Authority approval for an asset
not appearing on lines 1, 2, 3(a), 5(a), 9, 10, 11 and 12 as required
by the Insurance Accounts Regulations 1980, to be treated as
“relevant assets”……………………………………………………… $580
(k) to receive Bermuda Monetary Authority approval of letters of
credit Guarantees and any other instruments to be treated as
other fixed capital……………………………………………………. $390
(l) application for cancellation of registration under section
41(1)(a)…………………………………………………………………… $390
(m) application for approval of an internal capital model made
under the provisions of a Rule made under section 6A………. $40,000
(n) subject to paragraph 2A, application for review and approval
of an internal capital model made under the provision of a
Rule made under section 6A……………………………………….. $160,000
(o) annual fee for the monitoring of an approved internal capital
model made under the provisions of a Rule made under section
6A………………………………………………………………………… $15,000
(p) application for post approval of an internal capital model made
under the provisions of a Rule made under section 6A………. $15,000
(2A) Section 14(6) (which allows the Authority to reduce the annual fee depending on the nature and scale of operations of an insurer and the complexity of its business) shall apply with the necessary modifications to the application fee for review and approval of an internal capital model under paragraph 2(n) above.
Fees in respect of the above are due upon application.
(3) Registering as:-
(a) an insurer:-
(i) non-resident insurance undertaking under the Non-
Resident Insurance Undertakings Act 1967 (fees in par-
agraphs (a)(ii) to (x) of this item do not apply to these
undertakings)…………………………………………………. $3,650
(ii) Class I insurer carrying on general business…………… $971
(iii) Class 2 insurer carrying on general business…………… $2,200
(iv) Class 3 insurer carrying on general business…………… $12,000
(iva) Class 3A insurer carrying on general business where
gross premium written is expected to:
not exceed $5M………………………………………………... $19,000
exceed $5M but does not exceed $20M……………………. $22,500
exceed $20M but does not exceed $35M…………………… $26,000
exceeds $35M…………………………………………………… $30,000
(ivb) Class 3B insurer carrying on general business where
gross premium written is expected to:-
not exceed $150M……………………………………………… $180,000
exceed $150M but does not exceed $350M………………… $200,000
exceed $350M but does not exceed $2B……………………. $230,500
exceed $2B………………………………………………………. $260,000
(v) Class 4 insurer carrying on general business where gross
premium written is expected to:-
not exceed $150M……………………………………………… $180,000
exceed $150M but does not exceed $350M…………………. $200,000
exceed $350M but does not exceed $2B……………………. $230,500
exceeds $2B…………………………………………………….. $260,000
(vi) Special Purpose insurers……………………………………. $11,600
(vii) Long Term – Class A………………………………………….. $10,500
(viii) Long Term – Class B………………………………………….. $10,500
(ix) Long Term – Class C………………………………………….. $20,000
(x) Long Term – Class D………………………………………….. $40,000
(xi) Long Term – Class E………………………………………….. $60,000
(b) an insurance manager, broker or agent under section 10…….. $1,406
(c) an insurance salesman under section 10…………………………. $140
(4) Issuing any certificate under section 14(1)(c)…………………………. $580
(5) Inspecting the register under section 14(1)(d)………………………… $25
(6) The furnishing by the Authority of any document or copy of a
document under Section 14(1)(e):
(a) for the first three pages or part thereof…………………………… $25
(b) for each additional three pages or part thereof…………………. $6
Fee in respect of the above are due upon application
(7) Annual fee under section 14(2) payable by:
(a) An insurer:-
(i) Non-resident insurance undertaking under the Non-
Resident Insurance Undertakings Act 1967 (fees in par-
agraphs (a)(ii) to (x) of this item do not apply to these
undertakings)……….………………………………………... $3,650
(ii) Class 1 insurer carrying on general business…………… $971
(iii) Class 2 insurer carrying on general business…………… $2,200
(iv) Class 3 insurer carrying on general business…………… $12,000
(iva) See introductory guidance notes to this schedule referr-
ing to annual business fees for class 3A insurers
(ivb) Class 3B insurer carrying on general business where
gross premium written in the previous year of assess-
ment:
did not exceed $150M…………………………………………. $180,000
exceeded $150M but did not exceed $350M……………….. $200,000
exceeded $350M but did not exceed $2B…………………… $230,500
exceeded $2B…………………………………………………… $260,000
(v) Class 4 insurer carrying on general business where gross
premium written in the previous year of assessment:-
did not exceed $150M…………………………………………. $180,000
exceeded $150M but did not exceed $350M……………….. $200,000
exceeded $350M but did not exceed $2B…………………… $230,500
exceeded $2B…………………………………………………… $260,000
(vi) Special Purpose Insurers……………………………………. $11,600
(vii) Long Term – Class A…………………………………………. $10,500
(viii) Long Term – Class B…………………………………………. $10,500
(ix) Long Term – Class C…………………………………………. $20,000
(x) Long Term – Class D…………………………………………. $40,000
(xi) Long Term – Class E…………………………………………. $60,000
(b) an insurance manager, broker or agent under section 10…….. $1,406
(c) an insurance salesman under section 10…………………………. $140
(7aa) Supplementary fee to be paid by insurer whose business includes
domestic insurance business in addition to the fee payable for its
class of business under paragraph (7)(a)……………………………… $25,000
(8) Annual fee under Section 27B payable by a designated insurer for
a group……………………………………………………………………….. $150,000
Annual fees in respect of the above are due on or before 31st March 2012.
The Investment Business Act 2003
(1) Application fee for a licence pursuant to section 16…………………. $2,200
(2) Annual licence fee pursuant to section 19(1)(b):-
(a) where the investment provider carrier on –
(i) an investment activity of a kind specified in paragraph
2 of Part 2 of the First Schedule to the Act in connection
with shares or units in a collective investment scheme;
or…………………………………………………………..…….. $2,100
(ii) an investment activity of a kind specified in paragraph
4 of Part 2 of the First Schedule to the Act; or………….. $2,100
(iii) an investment activity falling within (i) and (ii) above... $2,100
(b) where the investment provider carries on an investment act-
ivity of a kind specified in paragraphs 1, 2 and 3 of Part 2 of
the First Schedule to the Act but is not licensed to hold client
assets………………………………………………………..……..…… $5,250
(c) where the investment provided carries on an investment act-
ivity of a kind specified in Part 2 of the First Schedule to the
Act and is licensed to hold client assets………………………….. $10,500
(3) Annual licence fee payable pursuant to section 19(1)(b) where an investment provider falls within paragraphs (2)(a), (b) or (c) and is part of a group which is subject to consolidated supervision by the Authority as home regulator under the Act, and that group:-
(a) has consolidated net assets not exceeding $500M………………. $60,650
(b) has consolidated net assets exceeding $500M……………………. $242,550
Annual fees in respect of (2) and (3) above are due on or before 31st March 2012.
The Investment Funds Act 2006
(1) Application fee: authorisation (all funds)……………………………… $830
(2) Reclassification fee (all funds)…………………………………………… $830
(3) Annual fee –
Standard fund……………………………………………………………….. $1,490
Administered fund…………………………………………………………. $940
Institutional fund…………………………………………………………… $940
(4) Application fee: exempted funds………………………………………… $550
(5) Annual fee: exempted funds……………………………………………… $660
(6) Application fee: fund administrator licence…………………………. $8,270
(7) Annual fee: fund administrator………………………………………… $9,100
(8) Transaction fee: all section 25 changes and notifications and sec-
tion 6 notifications…………………………………………………………. $250
Annual fees in respect of 3, 5 and 7 above are due on or before 31st March 2012.
The Trusts (Regulation of Trust Business) Act 2001
(1) Application for a licence under section 11 (6)(d) where the applic-
ation is in respect of:
(a) a limited trust…………………………………………………………. $550
(b) an unlimited trust licence…………………………………………… $5,500
(2) Annual fee under section 14(1):
(a) for a limited trust licence……………………………………………. $1,100
(b) for an unlimited trust licence
(i) where a licensed company employs, or otherwise engages
the services of less than five persons……………………... $12,130
(ii) where a licensed company employs, or otherwise engages
the services of five or more persons but less than ten… $21,225
(iii) where a licensed company employs, or otherwise engages
the services of ten or more persons……………………….. $36,400
Annual fees in respect of (2) are due on or before 31st March 2012.
Payment Instructions
General Note:-
All cheques in respect of the above fees are payable to the Bermuda Monetary Authority at
BMA House
43 Victoria Street
Hamilton HM12
Attention: Finance Unit
International Payments
The following is information for international wire transfers to the Bermuda Monetary Authority:
JPMorgan Chase NA New York
ABBA 021000021
SWIFT CHASUS33
Credit to:
Bank of N.T. Butterfield & Son Limited
BNTBBMHM Hamilton Bermuda
Account No: 0011067808
In favour of
Bermuda Monetary Authority
Account No: 20 006 060 894331 100
Domestic Payments
The Authority is pleased to announce that effective immediately, licensed institutions can make payments directly to the BMA via the online banking systems at HSBC Bermuda and Butterfield Bank.
Ten payment streams have been set up at each bank:
• Proceeds of Crime (AML)
• Bank and Deposit Company Act (BDCA)
• Corporate Registration Process (CRP)
• Currency Customers (CUR)
• Investment Funds Act 2006 – Fund Administrators (FNDADM)
• Insurance Act 1978 and amendments (INS)
• Investment Business Act 2003 (IBA)
• Investment Funds Act 2006 (IFA)
• Trust Act 2001 (TBA)
• Miscellaneous charges (MISC)
Each payment stream is easily identifiable within the “Bill Payee” section of each online banking system via the prefixes ‘Bermuda Monetary Authority’ or ‘BMA’.
If you have any queries regarding payments, please email finance-receivables@bma.bm