BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

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ix 203. Circumstances in which liquidator may not be appointed ......................................129 204. Notice and advertisement of liquidation ..............................................................130 205. Effect of appointment of voluntary liquidator .......................................................131 206. Duties of voluntary liquidator ..............................................................................131 207. Powers of voluntary liquidator ............................................................................132 207A. Termination of voluntary liquidation .....................................................................133 208. Completion of liquidation ...................................................................................134 Division 2 - Liquidation where Company Insolvent 209. Company in voluntary liquidation unable to pay its debts ......................................134 210. Liquidator to call meeting of creditors ................................................................134 211. Insolvency Act to apply ......................................................................................135 Division 3 - Striking Off and Dissolution 212. Interpretation for this Division ............................................................................135 213. Striking company off Register ............................................................................135 214. Appeal .............................................................................................................137 215. Effect of striking off ..........................................................................................137 216. Dissolution of company struck off the Register ....................................................138 217. Restoration of name of company to Register by Registrar ....................................138 218. Declaration that dissolution void and restoration of name to Register by Court .......139 219. Appointment of Official Receiver as liquidator of company struck off .....................139 220. Property of dissolved company ..........................................................................139 221. Disclaimer ........................................................................................................140 PART XIII INVESTIGATION OF COMPANIES 222. Definition of “inspector” .....................................................................................141 223. Investigation order ............................................................................................141 224. Court’s powers .................................................................................................142 225. Inspector’s powers ...........................................................................................143 226. Hearing in camera ............................................................................................143 227. Incriminating evidence .......................................................................................143 PART XIV ADMINISTRATION AND GENERAL 228. Privilege ...........................................................................................................144 228A. Company Law Review Advisory Committee .............................................................144 229. Registrar of Corporate Affairs ............................................................................144 AE/ET/Pub./bg/03.2007
x 230. Registers .........................................................................................................145 231. Optional registration of registers of members and directors .................................146 232. Filing of documents ...........................................................................................146 233. Inspection of Registers and documents filed .......................................................146 234. Form of certificate ............................................................................................147 235. Certificate of good standing ..............................................................................147 236. Fees and penalties to be paid to Registrar ..........................................................148 237. Recovery of penalties, etc. ................................................................................148 238. Company struck off liable for fees, etc. ..............................................................148 239. Fees payable to Registrar ..................................................................................148 240. Companies Regulations .....................................................................................148 241. Approval of forms by Commission ......................................................................148 242. Exemptions from tax .........................................................................................149 243. Offence provisions ............................................................................................150 PART XV TRANSITIONAL AND MISCELLANEOUS PROVISIONS 244. Limited Liability Companies ...............................................................................150 245. Jurisdiction .......................................................................................................150 246. Declaration by Court .........................................................................................150 247. Judge in Chambers ...........................................................................................151 248. Transitional provisions .......................................................................................151 249. Amendment of Schedules ..................................................................................151 250. Repeals and amendments .................................................................................151 251. Act binding on Crown ........................................................................................151 SCHEDULES 1. Fees and Penalties ............................................................................................152 2. Transitional Provisions .......................................................................................162 3. Repeals and Amendments .................................................................................195 AE/ET/Pub./bg/03.2007
Page 1: BRITISH VIRGIN ISLANDS THE BVI BUSI
Page 4 and 5: i No. 16 of 2004 VIRGIN ISLANDS BVI
Page 6 and 7: iii Division 2 - Issue of Shares 45
Page 8 and 9: v 106. Power of attorney ..........
Page 10 and 11: vii PART VIII REGISTRATION OF CHARG
Page 14 and 15: 1 No. 16 of 2004 BVI Business Compa
Page 16 and 17: Schedule 2 Cap. 285 Cap. 291 (c) on
Page 18 and 19: No. 5 of 2003 5 “Registrar” mea
Page 20 and 21: Types of company. Application to in
Page 22 and 23: 26/2005 (i) a company limited by sh
Page 24 and 25: Amendment of memorandum and article
Page 26 and 27: 12/2006 Provision of copies of memo
Page 28 and 29: Restrictions on company names. 26/2
Page 30 and 31: Registrar may direct change of name
Page 32 and 33: Validity of acts of company. 26/200
Page 34 and 35: Constructive notice. 26/2005 26/200
Page 36 and 37: Fractional shares. 26/2005 26-2005
Page 38 and 39: Register of members as evidence of
Page 40 and 41: Consideration for shares. 26/2005 S
Page 42 and 43: 26/2005 26/2005 Transfer of bearer
Page 44 and 45: Company may purchase, redeem or oth
Page 46 and 47: 26/2005 Shares redeemed otherwise t
Page 48 and 49: 26/2005 (a) the intention to create
Page 50 and 51: Meaning of disabled bearer share. 2
Page 52 and 53: Duties of authorised custodian hold
Page 54 and 55: Procedure on a person ceasing to be
Page 56 and 57: Transfer of beneficial ownership of
Page 58 and 59: 26/2005 26/2005 Liability of member
Page 60 and 61: 26/2005 Notice of meetings of membe
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49 (h) shares registered in the nam
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26/2005 26/2005 26/2005 Registered
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26/2005 Resignation of registered a
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Register of Approved Registered Age
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Other records to be maintained by c
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Books, records and common seal. 26/
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26/2005 Contracts before incorporat
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26/2005 Committees of directors. 26
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26/2005 26/2005 26/2005 65 (a) unle
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Register of directors. 26/2005 Annu
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Disclosure of interest. 26/2005 69
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Meetings of directors. 26/2005 Noti
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Indemnification. 26/2005 73 (e) to
Page 88 and 89:
26/2005 Insurance. 26/2005 Interpre
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Segregated portfolios. Segregated p
Page 92 and 93:
Assets. 79 of, such segregated port
Page 94 and 95:
Segregation of assets. 81 any other
Page 96 and 97:
Limitation on transfer of segregate
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Liquidation of segregated portfolio
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Conduct of portfolio liquidation. (
Page 102 and 103:
Distribution of segregated portfoli
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Regulations. 26/2005 26/2005 91 sub
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Creation of charges by a company. C
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Charge ceasing to affect company’
Page 110 and 111:
Approval of merger and consolidatio
Page 112 and 113:
Merger with subsidiary. 99 (b) in t
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Effect of merger or consolidation.
Page 116 and 117:
26/2005 Disposition of assets. 103
Page 118 and 119:
105 (b) a reorganisation or reconst
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26/2005 26/2005 Arrangement where c
Page 122 and 123:
109 or, in the case of a merger or
Page 124 and 125:
Foreign company may continue under
Page 126 and 127:
Continuation. 26/2005 12/2006 Effec
Page 128 and 129:
26/2005 115 (b) strike the name of
Page 130 and 131:
Costs of derivative action. 117 com
Page 132 and 133:
No.5 of 2003 Meaning of “carrying
Page 134 and 135:
12/2006 Registration. 26/2005 12/20
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12/2006 12/2006 12/2006 Use of name
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Service of documents on a foreign c
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12/2006 12/2006 26/2005 Appointment
Page 142 and 143:
Control of voluntary liquidation of
Page 144 and 145:
Effect of appointment of voluntary
Page 146 and 147:
Termination of voluntary liquidatio
Page 148 and 149:
Insolvency Act to apply. No. 5 of 2
Page 150 and 151:
Appeal. Effect of striking off. 137
Page 152 and 153:
Declaration that dissolution void a
Page 154 and 155:
Definition of “inspector”. Inve
Page 156 and 157:
Inspector’s powers. Hearing in ca
Page 158 and 159:
Registers. 26/2005 26/2005 145 on s
Page 160 and 161:
26/2005 Form of certificate. Certif
Page 162 and 163:
Exemptions from tax. Cap. 206 Cap.
Page 164 and 165:
Judge in Chambers. Transitional pro
Page 166 and 167:
S.I. 84/2006 153 COLUMN 1 COLUMN 2
Page 168 and 169:
155 COLUMN 1 COLUMN 2 COLUMN 3 Sect
Page 170 and 171:
S.I. 84/2006 Penalty payable by com
Page 172 and 173:
Cap. 291 159 (i) it is of a type sp
Page 174 and 175:
Memorandum ceases to prohibit issue
Page 176 and 177:
163 (a) be, and contain the informa
Page 178 and 179:
Circumstances where adoption of new
Page 180 and 181:
Cap. 285 IBC reregistered as compan
Page 182 and 183:
Scope of this Part. Interpretation
Page 184 and 185:
Memorandum. 171 would otherwise be
Page 186 and 187:
Memorandum not required to be amend
Page 188 and 189:
Increase or reduction of share capi
Page 190 and 191:
Treasury shares disabled. Increase
Page 192 and 193:
Appreciation of assets. Scope of th
Page 194 and 195:
Existing bearer shares. 181 35. (1)
Page 196 and 197:
Scope of this Division. Company may
Page 198 and 199:
Memorandum and Articles. 35 Compani
Page 200 and 201:
General meeting and special resolut
Page 202 and 203:
49 CapCo may enter into voluntary l
Page 204 and 205:
55 56 191 (i) the company was struc
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Struck off company liable for fees
Page 208 and 209:
195 SCHEDULE 3 [Section 250] ENACTM
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NO. ENACTMENT EXTENT OF AMENDMENT O
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NO. ENACTMENT EXTENT OF AMENDMENT O
Page 214:
Passed by the Legislative Council t
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BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

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