This Act regulates the registration of mortgages. All persons holding mortgages or other conditional conveyances of property which shall be made and executed by any person or persons in respect of any property situate in Bermuda shall deposit for registration in the office of the Registrar General a memorandum containing the particulars as set out in section 1. Non registration implies that other persons can mortgage or conditionally convey the same property. Charges on property of company other than on land in Bermuda cannot be registered under this Act.
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Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of the British overseas territories. Vacationing to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.
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