The Companies and Partnerships Electronic Registry Amendment Act 2020 (the “Act”), eagerly welcomed by industry, was recently passed into law and will come into operation on a date to be appointed by notice by the Minister of Finance (the “Minister”). The Act principally amends the Companies...
Formulating policy and introducing emergency measures during this COVID-19 crisis is no easy task. Worldwide, governments are introducing provisions aimed at safeguarding public health and avoiding an onslaught on medical centres. In this unprecedented situation the balancing of interests is difficult and the wisdom of...
The restrictions put in place by the Government of Bermuda (“Government”) following positive cases of COVID-19 in Bermuda have placed unexpected pressures on businesses and employees alike. Lay offs and redundancies have already been made and fear is mounting as regards employment rights and obligations. Misinformation...
In response to the global Covid-19 outbreak, the Bermuda Registrar of Companies issued a notice on 20 March, 2020 in respect of Bermuda companies’ compliance obligations pursuant to the Economic Substance Act 2018 (the “Act”). All in-scope companies are still required to comply with the provisions...
On the 21 February 2020 at the presentation of the 2020/2021 budget statement the Minister of Finance confirmed the Government’s intention to introduce a bill that will reduce the required ownership of a local Bermudian company from 60% Bermudian to 40% Bermudian, while maintaining the...
Following on from the Government’s commitment to harmonize Bermuda’s economic substance regime with that of other major offshore jurisdictions, the Economic Substance Amendment (No. 2) Act 2019 (the “ESA Amendment Act”) was tabled on 29 November 2019. The ESA Amendment Act, together with anticipated revised Economic Substance Regulations (the “Regulations”, which it is understood should...
Wong, Wen-Young v Grand View Private Trust Company Limited et al. [2019] SC (Bda) 1 Com (4 January 2019) The Court will take a cautious approach when considering whether to determine preliminary issues ahead of trial, such orders being an exception to the general rule that there be one...
J. Robinson (1609 VIP Executive Limited) v K. Burchall [2019] SC (Bda) 42 App (22 July 2019) Where an employee’s probation period has lapsed without been extended, any subsequent attempt by the employer to dismiss the employee in breach of contract will constitute ‘unfair dismissal’ resulting in a...