Charlestown, Nevis (April 27, 2011) — The Nevis Island Assembly on Tuesday, approved amendments to five pieces of existing legislation to continue the development of the competitiveness of the financial offshore services sector on Nevis.

Legislation amended included The Nevis International Exempt Trust (Amendment) Ordinance 2011; The Nevis Limited Liability Company (Amendment) Ordinance, 2011; The Nevis Business Corporation, 2011; Multiform Foundations (Amendment) Ordinance, 2011 and; The Companies (Amendment) Ordinance, 2011.

Finance Minister and Premier, the Hon. Joseph Parry, stated that all of the amendments were geared towards providing for the keeping of proper books and records of account and to establish a minimum period for the retention of books of account and for matters incidental thereto or connected therewith.