Nevis Business Corporation Ordinance 1984 - Intax Info

PART I - GENERAL PROVISIONS
Short Title
1. This Ordinance shall be known as the “Nevis Business Corporation Ordinance 1984”
Interpretation
2. In this Ordinance, unless the context otherwise requires, the term:
“Articles of incorporation” includes (i) the original articles of incorporation or any other instrument
filed or issued under any law to form a domestic or foreign corporation, amended, supplemented,
corrected or restated by articles of amendment, merger or consolidation, or other instruments filed or
issued under any law; or (ii) a special law or charter creating a domestic or foreign corporation, as
amended, supplemented or restated.
“Board” means board of directors.
“Corporation” or “domestic corporation” means a corporation for profit formed under this Ordinance,
or existing on its effective date and theretofore formed under any other ordinance of the Nevis Island
Assembly.
“Deputy Registrar” means the person or persons appointed by the Minister to assist the Registrar of
Companies in performing his duties under this Ordinance.
“High Court” means High Court having jurisdiction in St. Kitts and Nevis.
“Insolvent” means being unable to pay debts as they become due in the usual course of the debtor's
business.
“Minister of Finance” means the Minister for the time being charged with the responsibility of Finance
in the Nevis Island Administration.
“Registrar of Companies” means the person appointed by the Minister to perform the duties of
Registrar under this Ordinance.
“Treasury shares” means shares which have been issued, have been subsequently acquired, and are
retained uncancelled by the corporation.
Application of Ordinance
3.(1) Any corporation or company created prior to the effective date of this Ordinance may at anytime
subject itself to the provisions of this Ordinance by amending its articles of incorporation in accordance with the
manner prescribed by Part IX. Any corporation formed or subject to this Ordinance which does business in
Nevis shall be subject to and comply with all requirements of the Companies Ordinance in the same manner as a
company formed thereunder.
(2) A corporation to which the Banking Law or Insurance Law is applicable shall also be subject to this
Ordinance, but the Banking Law or Insurance Law, as the case may be, shall prevail over any conflicting
provisions of this Ordinance.
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