BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

Cap. 285
IBC reregistered
as
company
limited by
shares.
167
registered under this Act with effect from the 1 17 January 2007;
and
(b) every CapCo that, at midnight on 31 December 2007, is on the
Register of Companies maintained under the Companies Act shall
be deemed to be re-registered under this Act with effect from the 1
18 January 2008.
(2) For the purposes of subparagraphs (3) and (4), “relevant date” means
(a) in the case of an IBC, 31 December 2006; and
(b) in the case of a CapCo, 31 December 2007.
(3) For the avoidance of doubt, if the Registrar does not determine an
application for the re-registration of a former Act company on or before
the relevant date applicable to that company, the company is deemed
to be re-registered under this Act automatically in accordance with
subparagraph (1).
(4) No certificate of re-registration shall be issued by the Registrar under
paragraph 5 after the relevant date.
(5) Where a company is automatically re-registered under this paragraph,
the Registrar shall, as soon as is practicable, enter the name of the
company on the Register and allot a unique number to the company.
(6) Part IV of this Schedule applies to an IBC that is automatically re-
registered under this Part.
(7) Division 1 of Part VI of this Schedule applies to a CapCo that is
automatically re-registered under this Part.
(8) The unique number allotted to a company under subparagraph (5) may,
at the discretion of the Registrar, be the number previously allocated by
the Registrar to the company as a former Act company.
7. (1) An IBC that is re-registered automatically under this Part is reregistered
as a company limited by shares.
17 “1” should read “1 st ”.
18 “1” should read “1 st ”.
AE/ET/Pub./bg/03.2007