Recently, the following Orders were enacted to add a dedicated corporate governance licensing criterion to the Trust (Regulation of Trust Business) Act 2001, the Investment Business Act 2003 and the Investment Funds Act 2006 (collectively, the “Regulatory Acts”):
The Incentives for Job Makers Act 2013 and the Bermuda Immigration and Protection Amendment (No.2) Act 2013 came into operation in December 2013. These two acts effectively introduce various changes to the Bermuda Immigration and Protection Act 1956 (“BIPA”) and the Economic Development Act 1968 (“EDA”) which seek to make it easier for companies to obtain work permit exemptions for certain senior executives and for certain senior executives to be eligible to apply for a Permanent Resident’s Certificate (PRC).
The facts of recent UK case Marley v Rawlings (260 KB PDF) were straightforward. Mr. and Mrs. Rawlings gave instructions to their solicitor to prepare identical wills, each leaving their estate to the other, but if the other had already died, to their “adopted son, Terry Marley”. The Rawlings had two biological sons, who were effectively disinherited by these wills. Unfortunately and inadvertently, husband and wife each signed the other’s will as a consequence of the solicitor handing the wrong will to the wrong person. The mistake was discovered on the death of Mr. Rawlings, several years after the death of Mrs. Rawlings, and the Rawlings’ biological sons challenged the will.