This Act stipulates that a corporate body shall, subject to provisions of this Act, be capable of acquiring and holding any real or personal property in joint tenancy in the same manner as if it were an individual. On the dissolution of the corporate body, the property in which a corporate body is a joint tenant shall devolve on the other joint tenant.
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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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