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Bermuda Treated as Part of UK for OECD Membership

Bermuda is treated as part of the United Kingdom for OECD (Convention on Economic Co-operation and Development) purposes.

Accordingly, Bermuda is as much part of the OECD as, say, London or Dublin is, and the Bermuda Stock Exchange is an "OECD member stock exchange" just as the London and Dublin Stock Exchanges are.

A letter from the United Kingdom Delegation to the OECD states "When the UK ratified the Convention it did not specify what territorial application should be given. As uncertainty developed over the convention's scope in respect of the UK's Dependent Territories and Crown Dependencies, the UK decided to clarify the situation. On 29 July 1990 it formally transmitted a Declaration to the Government of France, Depositary State of the OECD Convention, in which it confirmed that the convntion applied to the Channel Islands, the Isle of Man, Gibralter, and Bermuda. Bermuda and Gibralter are, therefore, the only UK Dependent Territories to which the convention applies."

For mor information, contact Stephen Davidson at sdavidson@bsx.com.