Wealth Management Services Ltd.- Antigua & Barbuda Managment

LLC ACT XII

Part I

Part II

Part XII - Emergency Transfer of Domicile into Antigua and Barbuda

85. Emergency conditions
86. When emergency transfer of domicile is permitted
87. Application for emergency transfer of domicile
88. Governing law after emergency transfer
89. Return to foreign jurisdiction

PART XII – EMERGENCY TRANSFER OF DOMICILE INTO ANTIGUA AND BARBUDA

85. Emergency conditions
For the purposes of this Part, unless the context requires otherwise, “emergency condition” includes

(a) war or other armed conflict;
(b) revolution or insurrection;
(c) invasion or occupation by foreign military forces;
(d) rioting or civil commotion of an extended nature;
(e) domination by a foreign power;
(f) expropriation, nationalization or confiscation of a material part of the assets or property of the limited liability company;
(g) impairment of the institution of private property (including private property held abroad);
(h) the taking of any action under the laws of Antigua and Barbuda whereby persons resident in the foreign domicile might be treated as enemies or otherwise restricted under the law of Antigua and Barbuda relating to trading with enemies of Antigua and Barbuda;
(i) the immediate threat of an event referred to in any of paragraphs (a) to (h) or any other threat or claim against foreign entity or its assets, including any judgment or order restraining assets; and
(j) another event which, under the laws of the foreign domicile, permits the limited liability company to transfer its domicile.

86. When emergency transfer of domicile is permitted
During the existence of an emergency condition in the jurisdiction of its domicile, a foreign limited liability company may, subject to and upon compliance with the provisions of this Part, apply for an emergency transfer of its domicile to Antigua and Barbuda.

87. Application for emergency transfer of domicile

(1) A foreign limited liability company may apply for emergency transfer of domicile to Antigua and Barbuda by filing with the Commission
- (a) documents and certificates similar to those required by Sections 75, 76 and 78, except that the documents shall refer to an emergency transfer of domicile pursuant to this Part; and
- (b) a certificate of an authorised officer, director or agent of the foreign limited liability company specifying the emergency condition which exists in the foreign domicile.
(2) The Commission, in its discretion, may waive any of the requirements mentioned in subsection (1) on request by a limited liability company supported by facts justifying the waiver.
(3) If emergency conditions have affected ordinary means of communication, any of the documents required by this Part may be submitted in electronic form, so long as the duly executed original documents and supporting documentation are received by the Commission within thirty days or as soon as the emergency conditions cease to exist.
(4) If the Commission finds the required documents and certificates to be in proper form, upon payment of the prescribed fee, the Commission shall certify that the limited liability company has filed all documents and paid all fees required by this Part, and shall deliver to the foreign limited liability company a certificate of transfer of domicile.
(5) The certificate of the Commission shall be prima facie evidence of the transfer by the limited liability company of its domicile into Antigua and Barbuda.

88. Governing law after emergency transfer
Except to the extent expressly prohibited by the laws of Antigua and Barbuda, after a foreign limited liability company transfers its domicile to Antigua and Barbuda pursuant to this Part, it shall have all of the powers which it had immediately prior to such transfer and sections 79 and 80 shall apply.

89. Return to foreign jurisdiction

(1) A limited liability company which has transferred its domicile into Antigua and Barbuda pursuant to this Part may return to its former domicile by filing with the Commission an application to transfer domicile out of Antigua and Barbuda pursuant to sections 81 and 82.
(2) The application shall be accompanied by a certified resolution of the managers of the limited liability company authorising the transfer of domicile.

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