Shirley Trust Company Limited

[Home] [Services] [Resources] [Staff] [Contact] [ Search Contents]

[still under construction - we apologise if formatting and hyperlinks are still not completed]

BRITISH VIRGIN ISLANDS

INTERNATIONAL BUSINESS COMPANIES ACT

(CAP.291)

No 8. of 1984

THIS IS AN UNOFFICIAL CONSOLIDATION OF THE INTERNATIONAL BUSINESS COMPANIES ACT AND AMENDMENTS THERETO. WHILST EVERY EFFORT HAS BEEN MADE TO ENSURE CORRECTNESS, NO RESPONSIBILITY IS ASSUMED FOR ANY ERRORS WHICH MAY APPEAR.

The International Business

I Assent

D. R. Barwick

Governor

13th July, 1984

 

PART I - -Short Title and Interpretation 3

1.  Short Title 3

2.  Interpretation 3

PART II - Constitution of Companies 6

3.  Incorporation 6

4.  Restrictions on Incorporation 6

5.  Requirements of International Business Companies 6

6.  Effect of failure to satisfy requirement of Section 5 6

7.  Personal liability 8

8.  Business objects or purposes 8

9.  Powers 8

10. Validity of acts of company 10

11. Name 10

12. Memorandum 12

13. Articles 14

14. Registration 14

15. Certificate of Incorporation 14

16. Amendment of Memorandum and Articles 14

17. Copies of Memorandum and Articles to Members 16

PART III 1Capital and Dividends 16

17A.  Power to allot shares 16

18.   Shares to be fully paid 16

19.   Kind of consideration for shares 16

20.   Forfeiture of shares 16

21.   Amount of consideration of shares 16

22.   Fractional shares 18

23.   Authorized capital in several currencies 18

24.   Capital and surplus accounts 18

26.   Dividend of shares 18

27.   Increase or reduction of authorized capital 18

28.   Division and combination of shares 20

29.   Character of a shares 20

30.   Share Certificates 20

31.  Share register 20

32.  Rectification of share register 22

33.  Transfer of registered shares 22

34.  Transfer of bearer shares 22

35.  Seizure 22

36.  Acquisition of own shares 24

37.  Treasury shares disables 24

38.  Increase or reduction of capital 25

39.  Dividends 25

40.  Appreciation of assets 27

41.  Mortgages and charges of shares 27

PART IV Registered Office and Agent 29

Registered office 29

Registered agent 29

Repealed 29

Register of Registered Agents 29

Penalty for contravention of section 38 and 39. 31

PART V Directors, Officers, Agents and Liquidators 31

Management by directors 31

Election, term and removal of directors 31

Optional register of directors 31

Number of directors 31

Powers of directors 33

Emoluments of directors 33

Committees of directors 33

Meetings of directors 33

Notice of meetings of directors 33

Quorum for meetings of directors 33

Consents of directors 33

Alternates for directors 33

Officers and agents 33

Standard of care