Saint Lucia International Public Mutual Fund License_Guideline
Legal Requirements
Sr. No. | Element | Requirements |
Entity Requirements | Eligible company is a body corporate which is incorporated or continued under the International Business Companies Act, Cap. 12.14; for the purpose of carrying on international public mutual fund business and whose objects or business activities are restricted to international public mutual fund business. | |
Director | A public fund is required to appoint at least one director, who must be natural persons. | |
Administrator |
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Auditor |
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Fund Manager |
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Offering Memorandum | An international public mutual fund must have a current offering document filed by the director and which must provide full, true and plain disclosure of:
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- The prescribed annual fee shall be paid on or before the 15th day of January in each year following first licensing in respect of each international public mutual fund licence.
- An international public mutual fund licensee shall have its accounts audited annually or at such other times as the Director may require by an auditor appointed by the international public mutual fund licensee who shall conduct the audit in accordance with international standards on auditing.
- The audited accounts of the international public mutual fund licensee shall be forwarded to the Director within 3 months of the end of the financial year of the international public mutual fund licensee unless prior written approval for an extension has been granted by the Director
- Where an international public mutual fund licensee changes its auditor, the administrator or manager shall immediately advise the Director of the change and as to the reason for the change and the Director if satisfied that the auditor meets the requirements of this Act shall record the change accordingly
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