Part 5A - Director's/Trustee's Certificate (Form F100, revised Dec 2013)

Summary

This is a standard BVI Financial Services Commission form (F100, Part 5A) that a director or trustee of a licensee or public fund must complete and submit alongside audited financial statements. It is a certification cover sheet, not a standalone regulatory rule, and is used under several BVI financial services statutes to accompany annual audited accounts filings.

• Applies under: Section 17C(1)(a) of the Banks and Trust Companies Act 1990; section 17C(1)(a) of the Company Management Act 1990; section 57(1)(a) of the Insurance Act 2008; section 23(1)(a) of the Financing and Money Services Act 2009; section 71(1)(a) of the Securities and Investment Business Act 2010; and section 59 of the Regulatory Code 2009
• Certifies: That the financial statements were prepared using a specified accounting standard, have been audited with the auditor's report attached, were duly signed, dated and approved by the board of directors, and that the auditor's certificate of compliance is attached
• Also requires: Attachment of a report on the licensee's or public fund's activities to members for the financial year, and any prescribed documents (the latter applicable only to Banks and Trust Companies and Company Management licensees, or where additional documents have been prescribed)
• Disclosure note: If the auditor qualifies its opinion and the reasons are known to the licensee or public fund, the director must provide adequate disclosure of those reasons when submitting the certificate

The form itself does not set a filing deadline; it must be submitted together with the licensee's or public fund's audited financial statements as required under the applicable governing legislation.

Key obligations

• A duly authorised director or trustee must complete and sign this certificate when submitting audited financial statements to the Commission
• The certifying director/trustee must confirm the accounting standard used, that the statements were audited with the auditor's report attached, that the statements were signed, dated and approved by the board, and that the auditor's certificate of compliance is attached
• A report on the licensee's or public fund's activities to members for the financial year must be attached to the certificate
• Banks and Trust Companies and Company Management licensees must forward any prescribed documents together with the certificate
• Where the auditor has qualified its opinion and the reasons are known to the licensee or public fund, the director must disclose the reasons for the qualification when submitting the certificate

Applies to

Banks, Trust Companies, Company Management licensees, Insurance licensees, Financing and Money Services licensees, Securities and Investment Business licensees, Public Funds