Translation of the Companies Act of Belize

BELIZE


LAW ON INTERNATIONAL COMMERCIAL COMPANIES

Chapter 270

Summary


PART I


Short title and interpretation


1. Short title of.

2. Interpretation.


PART II


The legal form of companies


3. Register the company.

4. Restrictions on incorporation.

5. The terms of the international commercial companies.

6. The result in the case of non-compliance with the conditions of section 5.

7. Personal Responsibility.

8. Business object or purpose of commercial activities.

9. Rights.

10. The validity of the laws of the company.

11. Name.

12. Memorandum.

13. Agreement.

14. Register.

15. Certificate of Incorporation.

16. Amendments to the Memorandum and Articles.

17. Copies of the Memorandum and Articles of Association for members of the company.


PART III


Share capital and dividend


18. The shares are to be paid in full.

19. Method of payment for the shares.

20. Forfeiture of shares.

21. The amount of payment for the shares.

22. Partial shares.

23. Accounts of the share capital and profits.

24. Nominal capital in multiple currencies.

25. Dividend shares.

26. To increase or decrease the nominal capital.

27. The division or consolidation of shares.

28. The exchange of shares with the nominal value of the shares without par value, and vice versa.

29. The essence of the action.

30. Evidence of a share.

31. Shareholders´ Register.

32. Amendment of the share register.

33. Transfer of registered shares.

34. The transfer of bearer shares.

35. Confiscation.

36. Purchase of own shares.

37. Own shares, which are no longer valid.

38. To increase or decrease the share capital.

39. Dividends.

40. Increase the value of assets.

41. Mortgage and foreclosure of the debtor´s share.


PART IV


Registered office and registered agent


42. The registered office of the company.

43. Registration Agent.

44. Replacement of the registered office or registered agent.

45. The register of registered agent.

46. \u200b\u200bThe penalty for violation of sections 42 and 43.


PART V


Directors, employees, agents and liquidators


47. The Office of the Director.

48. Elections, durability and removal from office of directors.

49. Voluntary register of directors.

50. Number of Directors.

51. Rights of directors.

52. Remuneration in the form of salaries of directors.

53. Board of Directors.

54. Meetings of directors.

55. Notice of a meeting of directors.

56. The composition of the Meeting of Directors.

57. Consent of Directors.

58. The Deputy Director.

59. Employees and agents.

60. A measure of care.

61. Reliance on documentation and reporting.

62. Conflict of interest.

63. Compensation for compensation.

64. Insurance.


PART VI


Protecting the rights of participants and creditors


65. Meeting participants.

66. Notice of Meeting.

67. The composition of the conference participants.

68. The voting members.

69. Voting trusts.

70. Consent of the participants.

71. Service of notice on the subject of the participants.

72. Presentation of procedural documents, etc. on the company.

73. Ledgers, reporting and printing company.

74. Check the books and records.

75. Treaty in general.

76. Contract to design institutions as a legal entity.

77. Agreement for the payment or transfer.

78. The list of voluntary payments and mortgages.

79. Memoranda and notes.

80. Power of attorney.

81. The authentication or certification.

82. Company without participants.


PART VII


Consolidation, merger, sale of assets, the forced early retirement of debt, the conditions and the objector


83. The inter