QUOFATAFERUNT BERMUDA ECONOMIC SUBSTANCE AMENDMENT REGULATIONS 2026 BR 16 / 2026 The Minister of Finance, in exercise of the power conferred by section 11 of the Economic Substance Act 2018, makes the following: Citation

1 These Regulations may be cited as the Economic Substance Amendment Regulations 2026. Interpretation

2 In these Regulations “principal Regulations” means the Economic Substance Regulations 2018. Repeals and replaces regulation 17

3 The principal regulations are amended by repealing regulation 17 and substituting the following— “Powers of the Agency regarding non-compliance

17 For the avoidance of doubt, where it is determined that an entity has failed to comply with the economic substance requirements, the Agency shall exercise its powers under the Act for the purpose of ensuring compliance with the Act.”. Commencement

4 These Regulations shall come into operation on 31 March 2026. 1 ECONOMIC SUBSTANCE AMENDMENT REGULATIONS 2026 Made this 17th day of March 2026 Minister of Finance [Operative Date: 31 March 2026]