BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

14
permitted abbreviation thereof.
(4A) The name of a segregated portfolio company that is a restricted
purposes company shall include the designation “(SPV)” immediately
before or immediately after the designation specified in subsection (4).
(5) Where the abbreviation “Ltd”, “Corp”, “Inc” or “Unltd” is used, a full
stop may be inserted at the end of the abbreviation.
(6) A company may use, and be legally designated by, either the full or the
abbreviated form of any word or words required as part of its name
under this section.
17A. (1) Application may be made to the Commission in the approved form for
authorisation to
(a) incorporate a company under a name; or
(b) change the name of a company to a name;
that, in either case, does not include an ending specified in section 17(1).
(2) On an application made under subsection (1), the Commission may
authorise the registration of the company under a name that does not
include an ending specified in section 17(1) if
(a) the memorandum of the company
(i) limits the objects of the company to the pursuit of wholly
charitable or non-commercial purposes and requires the
company to apply its income solely in promoting those
purposes, and
(ii) prohibits the company from making any distributions to its
members; and
(b) the Commission is satisfied that the activities of the company
will, following authorisation, be carried out principally within the
Virgin Islands
(3) An authorisation under subsection (2) shall be subject to such
conditions as the Commission may impose whether on the granting of
the authorisation or subsequently.
(4) A company having the benefit of an authorisation granted under
subsection (2) shall notify the Commission as soon as practicable if
AE/ET/Pub./bg/03.2007
26/2005
Exemption from
section 17
12/2006