Certificate of compliance

(1) Every registered public fund, wherever constituted, which carries on business outside of Belize under the laws of any other country or jurisdiction, shall every year, within three months of the end of its financial year, file with the Registrar a certificate of compliance from the competent authority responsible for the regulation and supervision of the conduct of its business, in that other country or jurisdiction. (2) A registered public fund to which subsection (1) of this section applies is deemed to have complied with that subsection if it is proven to the satisfaction of the Registrar that the required certificate could not be obtained for reasons beyond the control of the public fund. (3) Where a registered public fund which carries on business outside of Belize carries on business in more than one country or jurisdiction, the certificate required to be filed under subsection (1) of this section shall be from the competent authority in or from the country or jurisdiction in or from which the public fund carries on its principal business.