| THE INTERNATIONAL BUSINESS COMPANIES Act, 1984 (AS AMENDED) | ||
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Arrangement of Sections PART I - SHORT TITLE AND INTERPRETATION  1 Short Title 2 Interpretation PART II - CONSTITUTION OF COMPANIES 3 Incorporation 4 Restrictions on Incorporation 5 Requirements of International Business Companies 6 Effect of failure to satisfy requirements of Section 5 7 Personal Liability 8 Business objects or purposes 9 Powers 10 Validity of acts of Company 11 Name 12 Memorandum 13 Articles 14 Registration 15 Certificate of Incorporation 16 Amendment of Memorandum and Articles 17 Copies of Memorandum and Articles to members PART III - CAPITAL & DIVIDENDS 17A Power to allot shares 18 Shares to be fully paid 19 Kind of consideration for shares 19A Forfeiture of shares 20 Amount of consideration for shares 21 Fractional shares 21A Authorized capital in several currencies 22 Capital and surplus accounts 23 Dividend of shares 24 Increase or reduction of authorized capital 25 Division and combination 26 Character of a share 27 Share certificates 28 Share register 29 Rectification of share register 30 Transfer of registered shares 31 Transfer of bearer shares 32 Seizure 33 Acquisition of own shares 34 Treasury shares disabled 35 Increase or reduction of capital 36 Dividends 37 Appreciation of assets 37A Mortgages and charges of shares PART IV - REGISTERED OFFICE AND AGENT 38 Registered office 39 Registered agent 40 R E P E A L E D. 40A Registered agents 41 Penalty for contravention of sections 38 and 39 PART V - DIRECTORS, OFFICERS, AGENTS AND LIQUIDATORS 42 Management by directors 43 Election, term and removal of directors 43 Optional register of directors 44 Number of directors 45 Powers of directors 46 Emoluments of directors 47 Committees of directors 48 Meetings of directors 49 Notice of meetings of directors 50 Quorum for meetings of directors 51 Consents of directors 52 Alternates for directors 53 Officers and agents 54 Standard of care 55 Reliance on records and reports 56 Conflict of interests 57 Indemnification 58 Insurance PART VI - PROTECTION OF MEMBERS AND CREDITORS 59 Meetings of members 60 Notice of meetings of members 61 Quorum for meetings of members 62 Voting by members 62A Voting trusts 63 Consents of members 64 Service of notice on members 65 Service of process, etc. on company 66 Books, records and common seals 67 Inspection of books and records 68 Contracts generally 69 Contracts before incorporation 70 Contracts for payment or transfer 70A Optional register of mortgages and charges 71 Notes and bills of exchange 72 Power of Attorney 73 Authentication or attestation 74 Company without members PART VII - MERGER, CONSOLIDATION, SALE OF ASSETS, FORCED REDEMPTIONS, ARRANGEMENTS AND DISSENTERS 75 Interpretation for purposes of Part VII 76 Merger and consolidation 77 Merger with subsidiary 78 Effect of merger or consolidation 79 Merger or consolidation with foreign company 80 Disposition of assets 81 Redemption of minority shares 82 Arrangements 83 Rights of dissenters PART VIII - CONTINUATION 84 Continuation 85 Provisional registration 86 Certificate of continuation 87 Effect of continuation 88 Continuation under foreign law PART IX - WINDING UP, DISSOLUTION AND STRIKING-OFF 89 Compulsory winding-up and dissolution 90 Voluntary winding-up and dissolution 91 Powers of directors in a winding-up and dissolution 92 Duties of liquidator 93 Powers of liquidator 94 Procedure on winding-up and dissolution 95 Rescission of winding-up and dissolution 96 Winding-up and dissolution of company unable to pay its claims, etc. 97 Winding-up and dissolution by the court 98 Receivers and managers 99 Striking-off 100 Restoration to Register 101 Effect of striking-off 102 Appointment of official liquidator 103 Dissolution of company struck off PART X - FEES AND PENALTIES 104 Fees 105 Licence fees 106 Penalties to be paid to Registrar 107 Recovery of penalties, etc. 108 Company struck off liable for fees, etc. 109 Fees, etc. to be paid into Consolidated Fund 110 Fees payable to Registrar PART XI - INCOME TAXES, STAMP DUTIES AND REGISTRATION OF DOCUMENTS 110A Exemptions from tax, etc. 110B Optional registration of registers 111 Optional registration of mortgages and charges. PART XII - MISCELLANEOUS 112 Regulations 113 Form of certificate 114 Certificate of good standing 115 Inspection of documents 116 Jurisdiction 117 Declaration by court 118 Judge in Chambers 119 Commencement | ||