BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.
BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.
BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.
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Insolvency Act<br />
to apply.<br />
No. 5 of 2003<br />
Interpretation<br />
for this<br />
Division.<br />
Striking<br />
company off<br />
Register.<br />
135<br />
179 of the Insolvency Act by a liquidator appointed by the members<br />
of a company and sections 179 and 180 of the Insolvency Act shall<br />
apply to the calling and holding of such a meeting.<br />
(3) Without affecting any acts carried out by the voluntary liquidator<br />
appointed under Division 1 prior to his sending a notice to the Official<br />
Receiver under section 209(2), section 182 of the Insolvency Act<br />
applies to a voluntary liquidator appointed under Division 1 as if he was<br />
a liquidator appointed by the members under the Insolvency Act.<br />
(4) Where a voluntary liquidator who files a notice under subsection (1) is<br />
not an eligible licenced insolvency practitioner with respect to the<br />
company, the Official Receiver may apply to the <strong>Co</strong>urt ex parte for the<br />
appointment of himself or an eligible licensed insolvency practitioner as<br />
the liquidator of the company and the <strong>Co</strong>urt may make the appointment<br />
subject to such conditions as it considers appropriate.<br />
(5) A liquidator who contravenes subsection (1) commits an offence and is<br />
liable on summary conviction to a fine of $10,000.<br />
211. (1) From the time that a voluntary liquidator appointed under Division 1<br />
first becomes aware that the company is not, or will not be, able to pay its<br />
debts he shall conduct the liquidation as if he had been appointed liquidator<br />
under the Insolvency Act.<br />
(2) Where the voluntary liquidator of a company files a notice with the<br />
Official Receiver under section 209(2),<br />
(a) the Insolvency Act applies to the liquidation of the company<br />
subject to such modifications as are appropriate; and<br />
(b) the liquidation of the company shall be deemed to have<br />
commenced on the date of the appointment of the liquidator<br />
under Division 1.<br />
Division 3 — Striking Off and Dissolution<br />
212. In this Division, “Register” means the Register of <strong>Co</strong>mpanies.<br />
213. (1) The Registrar may strike the name of a company off the Register if<br />
(a) the company<br />
(i) fails to appoint a registered agent under section 93(4) or<br />
AE/ET/Pub./bg/03.2007
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