Virgin Islands Proposed amendment to articles of incorporation regarding distribution of stock of a subsidiary
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How to fill out Proposed Amendment To Articles Of Incorporation Regarding Distribution Of Stock Of A Subsidiary?
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FAQ
The BVI Business Companies Act (No 16 of 2004) is the principal statute of the British Virgin Islands relating to British Virgin Islands company law, regulating both offshore companies and local companies.
As per Section 56 of the Companies Act, transfer of shares or any other securities can take place only when a proper instrument of transfer of shares i.e share transfer form is filed in Form No. SH-4. Such form needs to be duly stamped with adequate amount and must be executed by the transferor and transferee.
The company will often need to get shareholders' approval before it can issue or transfer shares. This is usually done at a general meeting, where all the shareholders will have the opportunity to vote on the proposal. Shareholders usually acquire 'pre-emption' rights under the Companies Act.
A transfer by way of a sale of the legal and beneficial interest in shares involves the following stages: AGREEMENT FOR THE SALE OF SHARES. The seller and the buyer agree to the sale and purchase of the shares. ... TRANSFER FORM. ... APPROVING REGISTRATION OF THE TRANSFER. ... ISSUING A SHARE CERTIFICATE TO THE TRANSFEREE.
BVI Registered Agent Duties The registered address is the legal address of your BVI company, The Registered Agent is responsible for safe custody and maintaining of the Memorandum and Articles of Association, the Register of Members, the Register of Directors, copies of Resolutions, notices and filings.
What is the process to transfer shares in a BVI company? Shares in a BVI company are transferred by a written instrument of transfer, which must be signed by the transferor and contain the name and address of the transferee. The executed instrument of transfer should be sent to the company for registration.
Almost all companies formed in the British Virgin Islands are now registered under the BVI Business Companies Act (although a large number of existing companies were originally registered under the International Business Companies Act).
Buyer and seller must sign a share transfer form; company must issue a new share certificate to the buyer; seller of the shares must destroy its old share certificates; and. company must record in its members register that the shares are transferred.