BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

No.5 of 2003
Meaning of
“carrying on
business”.
119
just and equitable to do so, it may make such order as it thinks fit,
including, without limiting the generality of this subsection, one or more
of the following orders
(a) in the case of a shareholder, requiring the company or any
other person to acquire the shareholder’s shares;
(b) requiring the company or any other person to pay
compensation to the member;
(c) regulating the future conduct of the company’s affairs;
(d) amending the memorandum or articles of the company;
(e) appointing a receiver of the company;
(f) appointing a liquidator of the company under section 159(1) of
the Insolvency Act on the grounds specified in section 62(1)(b)
of that Act;
(g) directing the rectification of the records of the company; 4
(h) setting aside any decision made or action taken by the
company or its directors in breach of this Act or the
memorandum or articles of the company.
(3) No order may be made against the company or any other person
under this section unless the company or that person is a party to the
proceedings in which the application is made.
PART XI
FOREIGN COMPANIES
185. (1) A reference in this Part to a foreign company carrying on business in
the Virgin Islands includes a reference to the foreign company establishing
or having a place of business in the Virgin islands.
(2) For the purposes of this Part, a foreign company does not carry on
business in the Virgin Islands solely by reason of the fact that, in the
Virgin Islands, it
(a) is or becomes a party to legal proceedings or settles a legal
4 The word “or” should be inserted at the end of this paragraph.
AE/ET/Pub./bg/03.2007