As is the case in many facets of life, after a while we become comfortable with the tools of our trade (even if they are not perfect) and, while we may be inclined to tinker every now and then, we do not take the time to sit back and look at the issue afresh. Such was the case of the Bermuda company.
When the island’s Minister of Finance announced in early 2006 that she wanted Bermuda company law overhauled to meet the demands of business in the 21st century, the industry was quick to rise to the challenge. The legislative change committee of the Bermuda International Business Association took note of legal developments to the east, in the UK and Europe, and to the west in the US and Canada, and crafted what became known as the ‘A-list’ of enhancements, incorporating the best features of company law from around the world.
