(1) There shall be paid to the Registrar in respect of the several matters mentioned in the Schedule the several fees specified therein.

(2)   In respect of the payment of fees not more than thirty days grace to be calculated from the 1st of January in each year may be allowed by the Registrar for payment of the fee payable in any year under this Act.

(3)   The fees mentioned in the Schedule shall not apply until January 1, 2002 and the fees payable under the repealed Act shall remain in force until December 31, 2001.

(4)   The Minister may by order amend the Schedule for the purpose of varying the fees specified therein and any such order which vary the fees shall be exempt from the provisions of section 31 of the Interpretation and General Clauses Act but shall be subject to an affirmative resolution of the House of Assembly.

(5)   In subsection (4) “affirmative resolution of the House of Assembly” in relation to subsidiary legislation means that such legislation does not come into operation unless and until affirmed by a resolution of that House.

176. Any penalty incurred under this Act shall be paid to the Registrar.


(1)    When an offence is committed under this Act by a company, whether it is incorporated or registered under this Act, and a director or officer of the company knowingly authorized, permitted or acquiesced in the commission of the offence, the director or officer is also guilty of that offence and shall be liable to the same criminal penalty specified for that offence.

(2)   Every offence under this Act and every default, refusal or contravention for which a penalty is provided by this Act, being an offence, default, refusal or contravention for which no other mode of proceedings is provided shall be enforced by summary proceedings.

178.   A person who contravenes any requirement of this Act regarding the name of a company is guilty of an offence and shall be liable on summary conviction to a fine of five hundred dollars.

179.   A person who fails to keep a Share Register for the purposes of section 29 is guilty of an offence and shal1 be liable on summary conviction to a fine of ten thousand dollars or imprisonment for two years.


(1) A person who makes or assists in making a report, return, notice or other document for submission to the Registrar that -

(a)         contains any untrue statement of a material fact; or

(b)         omits to state a material fact required in such report, return notice or other document,

Is guilty of an offence and shall be liable on summary conviction to a fine of ten thousand dollars or imprisonment for two years.

(2) A person is not guilty of an offence under subsection (1) if the making of the untrue statement or the omission of the material fact was unknown to him and with the exercise of reasonable diligence could not have been known to him.

181.   A person who without reasonable cause contravenes any section of this Act for which no other penalty is provided is guilty of an offence and shall be liable on summary conviction to a fine of ten thousand dollars or imprisonment for two years.

182.   Any fee or penalty payable under this Act that remains unpaid for 30 days immediately following the date on which demand for payment is made by the Registrar is recoverable at the instance of the Attorney-General in civil proceedings as a debt due to the Crown.

183.   A company incorporated under this Act continues to be liable for all fees and penalties payable under this Act notwithstanding the name of the company has been struck off the Register and all those fees, and penalties have priority to all other claims against the assets of the company.

184.   All fees and penalties paid under this Act shall be paid by the Registrar into the Consolidated Fund.


(1)    The Registrar may refuse to take action required of him under this Act for which a fee is prescribed until all fees have been paid.

(2)   The Registrar may refuse to continue under this Act a company incorporated under the companies Act until all fees prescribed as payable by the company under the Companies Act have been paid.

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According to the Bahamas International Securities Exchange, Colonial Pension Services (Bahamas) Limited has been approved as a Trading Member of the exchange.
According to BISX, the BISX Mutual Fund Listing Process has been successfully completed by Phoenix Four Inc. Now, it has been added to the roster of funds listed on BISX.
The Central Bank of the Bahamas has recently announced the new appointment - a former senior official with the United Kingdom Financial Services Authority was appointed as Inspector of Banks and Trust Companies.
BISX is going to launch a new initiative targeted at global financial services companies in order to create a new platform that will be focused on opportunities in the international capital markets.
On June 13, House members passed the Bahamian Government's 2008-2009 Budget Bill. Passing the bill followed debate on the budget that included tax concessions.
Hubert Ingraham, Bahamas Prime Minister and Minister of Finance, has delivered the Bahamian government's 2008-2009 Budget Communication to Parliament. The Budget is heavily tilted to provide relief to Bahamians on low incomes.
The Bahamas Financial Services Board announced securities sector legislative developments to diversify the second pillar of the Bahamian economy and to reinforce growth for the jurisdiction's private wealth management services.
FirstCaribbean International Bank announced that it has successfully completed a 30-year bond issue for the Commonwealth of the Bahamas worth USD 100 million.
FirstCaribbean International Bank announced that it has successfully completed a 30-year bond issue for the Commonwealth of the Bahamas worth USD 100 million.
The Bahamas is expected to strengthen its diplomatic ties with the Republic of Chile under the provisions of the Economic Partnership Agreement with the EU. This was announced by Bahamian Governor General, Arthur Hanna, when he welcomed new Ambassador of Chile to the Bahamas.
The government of the Bahamas is seeking to strengthen its financial cooperation with the government of the Netherlands. It also hopes to leverage the Netherlands' government's support in order to secure financial services regulation within the OECD.
According to Minister of State for Finance Zhivargo Laing, the Bahamas government is going to strategically promote and market Bahamas' financial services sector within the international community.
Bahamas Minister of State for Finance has commenced a campaign aimed to promote the fiscal responsibility of citizens through the payment of taxes.
The Government of the Bahamas is seeking support from Germany in its continued talks with the Organisation for Economic Cooperation and Development (OECD) that regard transparency in financial services of the Bahamas.
The Minister of State for Finance, Zhivargo Laing claimed that the economy of the Bahamian remains robust. The jurisdiction's central bank predicted its growth at 3%.
Attorney General Sen. Claire Hepburn said that a national strategy for anti-money laundering and countering terrorist financing is central for the Bahamas that are aim at sustaining its place as a well-regulated financial services jurisdiction.
According to the annual National Accounts Report by the government of the Bahamas, the economy grew by approximately 4.2% in current prices and 3.4% in constant prices in 2006.
During the recent Conference on the Caribbean held in Washington D.C., the Bahamas was recognised for its significant contribution in fighting drug trafficking, terrorism and other matters of security.
Royal Bank of Canada has agreed to buy 50% of banking unit of Fidelity Bank & Trust International Ltd. based in Bahamas. This move is aimed at expanding the Bank's corporate banking business in the Caribbean.
Last week Canadian financial services firm Scotiabank launched Scotia Private Client Group in the Bahamas, which is the first step of the announced expanding firm's wealth management services platform across the Caribbean, in the regions of Central and Latin America.
An immigration framework has been developed by the Bahamas financial services industry. The framework is designed in order to help the jurisdiction compete with other offshore financial centres for skilled workers.
Moody's Investor Services has issued a favourable report on the Bahamas. According to its latest Credit Opinion on the country, official foreign exchange reserves remain ample relative to debt service requirements, despite a fall in the 1st 10 months of 2006.
In accordance with the Bahamas Financial Services Board (BFSB), new Private Trust Companies (PTC) legislation has been passed in the parliament of the Bahamas to come into effect by the end of the year.
Energy and Environment Capital Management LLC and Coastal Partners Ltd. have joined their forces in launching an offshore version of the Energy & Environment Fund in the Bahamas.
The Bahamas Central Bank has reported that the Bahamas Economy is to a great extent maintained by its financial services. The Regulatory Authority published its Quarterly Review revealing the financial sector added in the Bahamas' GDP between 15% - 20% of its value.
Bahamas survey that was published by the Bahamas' Government today confirmed the position of the country as the leader in the three core areas of private banking, trusts and corporate services.
The Commonwealth of the Bahamas has received the 'A-' long-term and 'A-2' short term Sovereign Credit Ratings from Standard & Poor's. S&P analysts noted economic stability of Bahamas and rapid development of the finance and tourism sectors.