Vacation Plan and Time-Sharing Act 1999

February 14, 2000By @BahamasFSBLegal

The Bahamas Vacation Plan and Time-Sharing Act 1999 came into force earlier this year. The legislation provides for the creation, regulation, and management of time-sharing and vacation projects, and for the protection of purchasers of time-sharing and vacation plans. There are some 28 time-sharing projects with more than 900 time-share units and more than 48,000 … Read More

Amendment to Money Laundering Act

February 14, 2000By @BahamasFSBLegal

Cited as a valuable tool in the fight against international crime, The Money Laundering (Proceeds of Crime) Amendment Act was passed in the House of Assembly during 1999. The amendment brings the Act in line with the tracing and forfeiture of proceeds of the Drug Trafficking Act (Section 21). It provides for the enforcement of … Read More