Examples of BVI Act in a sentence

The BVI Act provides for certain situations in which the solvency test need not be satisfied.
Such company may purchase, redeem or otherwise acquire its own shares so long as it is in accordance with the provisions of the BVI Act or such other provisions for the purchase, redemption or acquisition as may be specified in the memorandum of association or articles of association of the company, and that the directors of the company are satisfied on reasonable grounds, that the company will, immediately after the purchase, redemption or acquisition, satisfy the solvency test.
Such company may purchase its own shares so long as it is in accordance with the provisions of the BVI Act or such other provisions for the purchase as may be specified in the memorandum of association or articles of association of the company, and the directors of the company are satisfied on reasonable grounds that the company will, immediately after the purchase, redemption or acquisition, satisfy the solvency test.
The BVI Act does not specify the funds out of which a company incorporated in BVI as a business company may use to pay the purchase price.
The proposed amendments are made to reflect that the concept of share capital no longer exists under the BVI Act.

More Definitions of BVI Act

BVI Act means the British Virgin Islands Business Companies Act 2004, as amended and/or supplemented from time to time.

BVI Act has the meaning set forth in the Recitals.

BVI Act. Section 8(k) “Charge” Preamble “Chargor” Preamble

BVI Act has the meaning ascribed to it in the recitals.

BVI Act has the meaning attributed to it in the Recitals. “[***]” means [***]. “[***]” has the meaning given to such term in Schedule 9.1(a).