VIRGIN ISLANDS RULES AND REGULATIONS VIRGIN ISLANDS CODE TITLE 9- BANKING CHAPTER 25, SUBCHAPTER I- INTERNATIONAL BANKING ENTITIES TO IMPLEMENT THE PROVISIONS OF ACT NO. 7390, KNOWN AS "THE INTERNATIONAL BANKING CENTER REGULATORY ACT" SUBCHAPTER I: International Banking Entities SECTION 1. AMENDING OF TITLE 9 VIRGIN ISLANDS CODE Title 9, Virgin Islands Code, is amended in the following instances: (a) Chapter 1, section 4 is amended by: (1) striking "exempt"; and (2) striking "facility" and inserting in its place, "entity". (b) Chapter 25 is added, with the following Rules and Regulations attached thereto. SUBSECTION 715-1. SHORT TITLE These regulations shall be known and may be cited as the Rules and Regulations of the International Banking Center Regulatory Act" (hereinafter referred to as the "Rules and Regulations"). SUBSECTION 715-2. AUTHORITY These Rules and Regulations are promulgated pursuant to the authority granted to the U.S. EFTA01123678