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\qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 \fs20\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid8212059 COOK ISLANDS}{
\b\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid8212059 INTERNATIONAL COMPANIES AMENDMENT ACT}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1656366  1988}{
\b\fs24\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 ANALYSIS}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 
\par Title
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16477004 1. Short T}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 itle and Commencement
\par 2. Interpretation
\par 3. Application of other Acts to International Companies
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 4. Regulation of foreign investment in the Cook Islands}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid6442125 -----------------------------------------}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2362895 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid11499451 1988, No. 6
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2362895 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 An Act to amend the International Companies Act 1981}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid2362895 -}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 82
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (22 June 1988
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid1656366 
\par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 BE IT ENACTED}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  b
y the Parliament of the Cook Islands in Session assembled and by the authority of the same as follows:
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 1. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 Short Title and commencement}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  (1) This Act may be cited as the International Companies Amendment Act 1988 and shall be read together with and deemed
 part of the International Companies Act 1981}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 82 (herein referred to as }{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 the principal Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 ).
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (2) Section 4 of this Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
into force on the same day as the principal Act came into force.
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 2. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 Interpretation}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059  Subsection (1) of section 200 is amended}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid2362895  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2049219 by, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 inserting after the word }{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 under}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 
 and before}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 the Companies Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 , the word }{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 either}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 ; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 adding after the words }{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 1970}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 71
}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059  the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 or the Development Investment Act 1977}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid8212059 .
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par 3. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 Application of other Acts to International Companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059 -}
{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  Section 249 of the principal Act is amended by repealing subsection (4) and substitutin}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 g the following new subsection,-}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid2362895 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
(4) Subsection (2) shall not apply to a foreign company which transacts onshore business (as defined in section 249A) whether by way of an isolated transaction or of a continuing nature, except where the business involves a}{
\fs24\lang2057\langfe5129\langnp2057\insrsid5861362 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  isolated transaction th}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 at is completed within a period }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 of 31 days, not being one of a number of similar transactions repeated more than once}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 .
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 
\par }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 4. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2362895 Regulation of foreign investment }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid2362895 
in the Cook Islands}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2362895  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895\charrsid2362895 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 The principal Act is amended by adding following new sec}{\fs24\lang2057\langfe5129\langnp2057\insrsid2362895 tion,}{\fs24\lang2057\langfe5129\langnp2057\insrsid2049219  -}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1976616 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 249A.}{\fs24\lang2057\langfe5129\langnp2057\insrsid2049219  }
{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 Regulation}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid2049219  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 of}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid2049219  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 foreign}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1976616\charrsid2049219  investmen}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 t}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid2049219  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1976616\charrsid2049219 i}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 n the Cook}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid8212059\charrsid2049219  }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid2049219 Island}{
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2049219\charrsid2049219 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  }{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  }
{\fs24\lang2057\langfe5129\langnp2057\insrsid2049219 (1) In this section, -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2049219 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 Administrative O}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 nshore Business}{\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  mean}{\fs24\lang2057\langfe5129\langnp2057\insrsid2049219 ,}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (a) any transact}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 ion}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
or dealing by an international company or a foreign company with a local entity engaged in the practice of law in Cook Islands for the purpose of obtaining legal advice or representation 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (b) any transact}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
ion or dealing by an international company or a foreign }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 company }{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 with a local entity engage}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 d in}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  the practice of accounting in the}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  Cook Islands}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2049219 for the purpose of having prepared }{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 or audited any of the accounts of that company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (c) any transac}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
tion or dealing by an international}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  company or a}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
 foreign company with a local entity registered under the Banking Act 1969 for the pu}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 rposes}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 facilitating the deposit with or }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 movement by}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1976616  that local entity of any of the monies of that company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1976616 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 (d) any other class of transaction or dealing being:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 la}{
\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 ss of transaction or dealing by an}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
 international company or foreign company with a local entity in respect of the provision of ancillary services by the local entity to any such company}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
 to enable it to carry on its business in and from the Cook Islands; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (ii) of }{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
such kind or nature that such services cannot reasonably be supplied }{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 by or through a trustee company,}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid2049219 {\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 s may from time to time be prescribed.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 Interest}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  shall }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 include any interest whether legal }{
\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 or equitable and whether vested or }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 contingent in}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  nature.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 Local Entity}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  means, -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid1976616 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 a)}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 in}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 the}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 case}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  of a body corporate:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (i) a}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
 domestic company (except where such a company is a trustee company);}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 (ii) an overseas company registered under the Companies Act 1970-71;}{
\fs24\lang2057\langfe5129\langnp2057\insrsid13979099\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 (iii) any foreign company which, having either a place of business in the Cook Islands or carries }{
\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 on }{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 business in the Cook Islands in contravention of section 200(4) of this Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 (i}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 v}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
) any other body corporate formed or incorporated in the Cook Islands }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (except }{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 a body incorporated }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 or registered under}{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  the International}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  Trusts Act 1984 or the}{
\fs24\lang2057\langfe5129\langnp2057\insrsid13979099  International Partnership Act 1984.}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (b) any }{\fs24\lang2057\langfe5129\langnp2057\insrsid13979099 
natural person who is a citizen or resident}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 of}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341  or domiciled in}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059  the Cook Islands and}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341  any partnership or association of such persons.}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid16057341\charrsid8212059 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 Local Property}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid11881322  means,-}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 (a) any interest in land in the Cook Islands;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 (b) any interest in tangible personal property ordinarily situated in the Cook Islands}{
\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 ;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16057341 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (c) any interest in a chose in action of or affecting either a local entity or local property;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (d) any interest in a local entity. }{\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid1327554 Onshore Business}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid1327554  means,-}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid11881322 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (a) a
ny transaction or dealing whether for pecuniary gain or otherwise with a local entity (and whether with that local entity individually or with another person or persons); or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid1327554 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (b) any investment in acquisition of or dealing affecting local property or }{
\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 any interest therein,}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid1327554 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 but shall not include administrative onshore business.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1327554 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
(2) Any international company or foreign company which transacts onshore business (whether by way of an isolated transaction or of a continuing nature) shall be}{\fs24\lang2057\langfe5129\langnp2057\insrsid1327554  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 subject to the Provisions of the Development Investment Act 1977.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid1327554 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
(3) Nothing in this section shall be interpreted or construed as in any way limiting the right power or capacity of an international company of a foreign company (with or without }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 prior approval), }{
\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (a) to deal with the }{\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 R}{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 egistrar i}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912030 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
 any manner contemplated by this Act or any other Act regulation bylaw or rule made thereunder;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (b) to deal with the Cook Islands Monetary Board; }{
\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14185587 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 to}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 institute}{
\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 or}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
become}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{
\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 party}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 to}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  
}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 any}{\fs24\lang2057\langfe5129\langnp2057\insrsid8212059  }{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 action suit or other proceeding in the Court.}{
\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3954850 {\fs24\lang2057\langfe5129\langnp2057\insrsid14185587 -------------------------------------}{\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8212059 {\fs24\lang2057\langfe5129\langnp2057\insrsid3954850 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16651062 {\fs24\lang2057\langfe5129\langnp2057\insrsid2319628\charrsid8212059 This Act is administered by the Cook Islands Monetary Board.
\par }}