Gazette
amending-2024-0003
Published
Section 2
LG13/S2 —
s2Inserts new definitions including 'high net worth person' and adds subsection (6) for 'public in the Islands'.
Section 14
LG13/S2 —
s14Substitutes subsection (1) to allow reduction by solvency statement and amends subsection (2).
Section 14A
LG13/S2 —
s14AAdds new section for reduction of capital supported by a solvency statement.
Section 14B
LG13/S2 —
s14BAdds new section for registration of solvency statement and minute of reduction.
Section 15
LG13/S2 —
s15Changes wording to 'special resolution for reducing share capital' in subsection (1).
Section 17
LG13/S2 —
s17Changes wording to 'special resolution for reducing share capital' in subsection (2).
Section 37
LG13/S2 —
s37Inserts references to 'fractions of shares' in subsection (1).
Section 88
LG13/S2 —
s88Changes section heading and substitutes subsection (1) for acquiring shares of dissenting shareholders.
Section 201
LG13/S2 —
s201Allows companies without share capital to apply for continuation and repeals subsection (7).
Section 211A
LG13/S2 —
s211AAdds new section for re-registration of an exempted company as an ordinary resident company.
Section 211B
LG13/S2 —
s211BAdds new section for the effect of re-registration of an exempted company as an ordinary resident company.
Section 232
LG13/S2 —
s232Inserts definitions for 'foundation company' and 'LLC agreement'.
Section 233A
LG13/S2 —
s233AAdds new section for conversion of a limited liability company to an exempted company.
Section 233B
LG13/S2 —
s233BAdds new section for conversion of a foundation company to an exempted company.