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BVI Business Companies Act, 2004

PART VII

SEGREGATED PORTFOLIO COMPANIES

134. (1) In this Part,

“general assets” of a segregated portfolio company has the meaning specified in section 143(3);

“portfolio liquidator” means the person appointed as portfolio liquidator under a portfolio liquidation order;

“portfolio liquidation order” means an order made under section 152;

“segregated portfolio” means a segregated portfolio created by a segregated portfolio company under section 138 for the purpose of segregating the assets and liabilities of the company in accordance with this Part;

“segregated portfolio assets” has the meaning specified in section 143(2);

“segregated portfolio distribution” means a distribution made in respect of segregated portfolio shares and “segregated portfolio dividend” shall be construed accordingly;

“segregated portfolio shares” means shares issued in respect of a segregated portfolio in accordance with section 139(1);

“segregated portfolio transfer order” means an order of the Court made under section 149(4).

(2) This Act applies to a segregated portfolio company subject to the provisions of this Part and to such modifications as are necessary.