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BVI Business Companies Act, 2004

SCHEDULE 2

Transitional Provisions

...

PART III

AUTOMATIC RE-REGISTRATION OF FORMER ACT COMPANIES

Former Act companies automatically re-registered under this Act.

4. (1) Subject to the provisions of this paragraph, every former Act company

(a) that, on 31st December 2006, is on the appropriate Register maintained under the Companies Act or the International Business Companies Act; and

(b) that has not made application to be re-registered under Part II on or before the last day of the transition period;

shall be deemed to be re-registered under this Act on 1st January 2007.

(2) The Registrar shall determine every application made under Part II on or before 28th February 2007.

(3) In the case of a certificate of re-registration issued by the Registrar on or after 1st January 2007 in respect of an application made on or before the last day of the transition period, the re-registration shall have effect on 31st December 2006 and the certificate of re-registration shall be dated accordingly.

(4) If the Registrar refuses or fails to determine an application made on or before the last day of the transition period by 28th February 2007, the company that made the qualifying application shall be deemed to have been automatically reregistered on 1st January 2007 under subparagraph (1).

(5) Where a company is automatically re-registered under this paragraph, the Registrar shall, as soon as is practicable, enter the name of the company on the Register and allot a unique number to the company.

(6) Part IV of this Schedule applies to a former Act company that is automatically re-registered under this Part.

(7) The unique number allotted to a company under subparagraph (5) may, at the discretion of the Registrar, be the number previously allocated by the Registrar to the company as a former Act company.

(8) Except as otherwise provided in this Act, a company that is automatically re-registered under this Part shall be subject to this Act as if it was a company incorporated under this Act, except to the extent specified in Part IV of this Schedule.

Certificate of registration where former Act company re-registered automatically.

5. (1) Where a former Act company is automatically re-registered under this Part, the Registrar shall not be required to issue a certificate of re-registration to the company unless it applies for a certificate and pays the appropriate fee.

(2) A certificate of re-registration issued under subparagraph (1) shall state that the former Act company was automatically re-registered under this Act.