Bank Supervision

Policies & Guidance Notes

Pursuant to The Banks and Trust Companies Regulation Act, 2000, and the Central Bank of The Bahamas Act, 2000, the Central Bank is responsible for the licensing, regulation and supervision of banks and trust companies operating in and from within The Bahamas. As such, all licensees are expected to adhere to the Central Bank's licensing and prudential requirements and ongoing supervisory programmes, including periodic onsite inspections, and required regulatory reporting.

From time to time, the Central Bank will issue policies to provide further clarity and guidance to licensees with regards to industry best practices. For your convenience, these policies are listed below in reverse chronological order.

Exemption of Private Trust Companies (PTCs) from BTCRA 6(1)

Published Friday April 20th, 2007

Following consultations with industry representatives, the Bank advises that the Governor has granted PTCs an exemption from section 6 (1) of the BTCRA, which requires them to seek the prior approval of the Governor for the transfer and disposal of shares of the company, subject however, to the following condition:

That the Registered Representative shall at all times, maintain a current share register of all shareholders of the Private Trust Company or companies for which he serves as Registered Representative.

Bank Supervision