Legislation: International Mutual Funds

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Amendments

• International Mutual Funds (Amendment) Act, 2012 No. 4
• International Mutual Funds (Amendment) Act, 2006 No. 40

International Mutual Funds (Amendment) Act

I Assent

CORNELIUS LUBIN
Deputy Governor-General
August 2, 2012

SAINT LUCIA

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No. 4 of 2012

AN ACT to amend the International Mutual Funds Act, Cap. 12.16.

[20^th October, 2012]

BE IT ENACTED by the Queen’s Most Excellent Majesty, by and with the advice and consent of the House of Assembly and the Senate of Saint Lucia, and by the authority of the same, as follows:

Short Title

1. This Act may be cited as the International Mutual Funds (Amendment) Act 2012.

Amendment of section 13

2. Section 13 of the International Mutual Funds Act, Cap. 12.16 is amended in subsection (4) by deleting the word "want" and substituting the word "waive".

Passed in the House this 26^th day of June, 2012.

PETER I. FOSTER,
Speaker of the House

Passed in the Senate this 10^th day of July, 2012

CLAUDIUS J. FRANCIS,
President of the Senate

No. 4] International Mutual Funds (Amendment) Act [2012.

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SAINT LUCIA

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No. 40 of 2006

An Act to amend the International Mutual Funds Act 2006, No. 22.

[27th November, 2006]

BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the House of Assembly and the Senate of Saint Lucia, and by the authority of the same, as follows:

1. Short title

   This Act may be cited as the International Mutual Funds (Amendment) Act 2006.

2. Interpretation

   In this act, "principal Act" means the International Mutual Funds Act 2006, No. 22

3. Amendment of section 2

   Section 2 of the principal Act is amended by deleting the definition of "private mutual fund" and by substituting the following:

   “private mutual fund” means a mutual fund where -

   1. its equity interests are held by not more than one hundred persons;
   2. the minimum investment in the fund is fifty thousand dollars per person; and
   3. only a person who -
      1. has experience in the type of investment in which the fund is interested;
      2. has signed a declaration that he or she, whether individually or jointly with his or her spouse, has a minimum net worth in excess of one million dollars;
      3. is a member of an investment club; or
      4. is an international business company;

         may participate."

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