QU OF NT AT A FE RU

BERMUDA

TAX REFORM COMMISSION (DISSOLUTION, APPOINTMENT AND VALIDATION) ACT 2024

2024 : 33

WHEREAS it is expedient to retroactively dissolve, appoint anew, validate and extend the duration of the Tax Reform Commission for the purposes of the Tax Reform Commission Act 2017; Be it enacted by The King’s Most Excellent Majesty, by and with the advice and consent of the Senate and the House of Assembly of Bermuda, and by the authority of the same, as follows:

Citation

1 This Act may be cited as the Tax Reform Commission (Dissolution, Appointment and Validation) Act 2024.

2. Interpretation and application

(1) In this Act— “Commission” means the Tax Reform Commission appointed pursuant to section 4; “principal Act” means the Tax Reform Commission Act 2017; “Tax Reform Commission” means the Tax Reform Commission established under the principal Act.

(2) This Act applies notwithstanding section 3 of the principal Act.

TAX REFORM COMMISSION (DISSOLUTION, APPOINTMENT AND VALIDATION) ACT 2024

Dissolution of Tax Reform Commission

3 The Tax Reform Commission appointed in 2018 shall be deemed to have been dissolved upon the laying of its final report and recommendations before the Legislature on 16 November 2018.

4. Retroactive appointment of Commission

(1) There is appointed a Commission and, subject to subsection (2), the principal Act shall apply to the Commission as it applied to the Tax Reform Commission originally established under the principal Act.

(2) The appointment of the Commission under subsection (1) shall be deemed to have commenced on 10 November 2023 and, notwithstanding section 3(3) of the principal Act, shall expire on 31 March 2025, unless extended in accordance with section 3(4) of that Act.

Validation

5 Where, on or after 10 November 2023, a body which was purportedly empanelled by the Minister of Finance as the Tax Reform Commission exercised or performed any functions, duties or operations of the Tax Reform Commission under section 5 or any other provision of the principal Act or under any other provision of law, then such exercise or performance shall be deemed to have been validly exercised or performed.

[Assent Date: 11 October 2024]

[Operative Date: 11 October 2024]