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BVI strengthens firewall provisions in Trustee Act


 When section 83 A of the British Virgin Islands’ Trustee Act came into effect in 2004 the jurisdiction was regarded as having the most sophisticated and well thought-out ‘firewall’ offering available, but, since then, the territory has arguably fallen behind some of its main competitors in this context. The technical amendments to section 83 A which took effect in July 2021 are aimed at improving the Territory’s firewall offering, which is considered critical in the context of the establishment of international trusts.