s.16Companies not deemed to be engaged in or carrying on a trade or business
16
Section 16Part 0 —

Companies not deemed to be engaged in or carrying on a trade or business

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A company, partnership or unit trust shall not be deemed to be engaging in or carrying on a trade or business in the Islands for the purpose of the Companies Law (2013 Revision) or any law —
by reason only that securities of such company, partnership or unit trust are listed on a securities market established and operated by the Exchange; or
by reason only that that company, partnership or unit trust is an Exchange member and that transactions are effected by or on its behalf through the facilities of the Exchange,
and the Local Companies (Control) Law (2007 Revision) and the Trade and Business Licensing Law (2007 Revision) shall not apply to any such company, partnership or unit trust by virtue of the same.

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