Electronic Transactions Act 1999
The Act reflects international standards, including the UNCITRAL Model Law on electronic commerce, working papers of the European Parliament and Council in respect of electronic signatures, the European Union's safe harbour principles for data protection, and “best practice” legislation found in other jurisdictions.
The Act, drafted by international law firm Linklaters & Payne, lays a foundation for the conduct of electronic transactions on a technology-neutral basis that is sufficiently flexible to embrace new technological developments and that contemplates a high degree of self-regulation.
It lays down a basis for electronic documents and signatures to replace their physical equivalents in all applicable legislation.
The Act sets out to promote public confidence in the validity, integrity, and reliability of electronic transactions, and promotes the development of the legal and business infrastructure necessary to implement electronic transactions securely.
The Act creates an ongoing “Electronic Commerce Advisory Board” of business people that will continue to advise Government to ensure that the island’s regulation encourages the growth of digital business through free market forces.