The Governor George Fergusson delivered the annual Throne Speech on November 7, laying out the Bermuda Government's plans for the upcoming year. Economic recovery will continue to be the national priority, the Government announced. This speech marked the opening of a new parliamentary year, the third under the new One Bermuda Alliance Government and the first under their new party leader and Premier Michael Dunkley.
The recent Bermuda case of Oung James v Paladin Ltd  SC (Bda) 67 Com considered the procedural validity of an adjournment of a Special General Meeting (the “Meeting”) by the exercise of the Chairman’s general power to conduct the meeting.
Changes in Bermuda’s Anti-Money Laundering and Terrorist Financing (“AML/ATF”) Legislation will be addressed in Parliament in order to bring the technical components into compliance with the 2012 Revised Financial Action Task Force (“FATF”) 40 recommendations (the “Recommendations”).
What is the difference between a local and exempted Company in Bermuda?
At the time of incorporation, a Bermuda company must be registered either as a local or exempted company. A local company is one that is incorporated by Bermudians to trade primarily in Bermuda. An exempted company is one that is incorporated by non-Bermudians for the purpose of conducting business outside Bermuda.