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Govt seeks feedback from charities on law reform

Government is calling on Bermuda’s charities to give their views on reform of the legislation governing the sector.

A press statement from the Ministry of Home Affairs noted that despite the fact that “extensive charities policy development consultation” had taken place a year ago, the Minister wanted additional views.

“The general policy aim is to amend the Charities Act 1978 to expand the definition of ‘charitable organisations’, to give the Charity Commissioners increased regulatory authority and to strengthen the reporting requirements for charities,” Home Affairs Minister Michael Fahy said.

The original Charities Act was enacted in 1965 and repealed in 1979 and replaced with the current legislation.

“Since 1979 there has been a significant increase in the number of registered charities operating in Bermuda. There has also been a widening of scope of charitable purposes,” the Minister added.

According to the Ministry, a 2007 International Monetary Fund report on Bermuda, “Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism recommended that relevant authorities undertake a review of laws and regulations related to non-profit organisations, such as charities, to prevent them from being used for money-laundering or the financing of terrorist activities.”

Charitable organisations have until April 17 to send in their views.

In 2007 there were around 400 registered charities on the Island with revenues of around $84 million annually (not including the Bermuda Hospitals Board), according to the IMF’s research.

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Published April 05, 2013 at 9:00 am (Updated April 05, 2013 at 12:51 am)

Govt seeks feedback from charities on law reform

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