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Name \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 3.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 Election}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 , term and removal of directors \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 4. Fees \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 5.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 Licence}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 fees \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 6.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 Optional}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 registration of other }{ \fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 documents}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid8933131 -------------------------------------------}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 1996, No. 215}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 AN ACT TO AMEND THE INTERNATIO}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid8933131 NAL BUSINESS COMPANIES ACT 1994}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 BE IT ENACTED}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 by the Ni}{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 u}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 e Assembly in Session Assembled, and by the authority of same, as follows:}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 1. Short Title an}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 d Commencement}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid8933131 }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 - (1) This Act may be cited as the Internationa}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 l Business Com}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 panies (Amendment) Act 1996, and shall be read together with and deemed part of the International Business Act 1994 (hereinafter referred to as the principal Act)}{ \fs24\lang2057\langfe1033\langnp2057\insrsid15297099 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (2) This Act}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 shall come into force on the 1st day of Januar}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 y 1997. \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 2. Name}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid8933131 }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7807972 }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (1) Section 11 (1) of t}{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 he principal Act is hereby amended-}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li720\ri0\widctlpar\tx1440\faauto\adjustright\rin0\lin720\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 (a)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 By inserting after the words, "Societe par actions" the words "Societe a responsabilite" and "G}{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 esell}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7807972 schaft mit beschrankter H}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 aftung"}{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 ;}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx1440\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li720\ri0\widctlpar\tx1440\faauto\adjustright\rin0\lin720\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972 (b) }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 By inserting after the abbreviation, "G}{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 mbH}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 ." the abbreviations, "S.A.R.L." and "S.a.r.l."}{ \fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx1440\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (2) Section 11 (7) of the principal Act is hereby amended by omitting the figur}{ \fs24\lang2057\langfe1033\langnp2057\insrsid15297099 es and words, "30 days" and "72}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 hours" and substituting the figures and }{\fs24\lang2057\langfe1033\langnp2057\insrsid15297099 words, "60 days" and }{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 "7 days" respectively.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7961502 \par }{\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 3. Election, term and remo}{ \b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 val of directors}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 - Section 43 (1) of the principal Act is hereby amended by omitting the word, "subscribers" and substituting the word, "subscriber".}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }{\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7807972 4. Fees}{\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid8933131 }{ \b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 - }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (1) Section 104 of the }{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 principal Act is hereby amended- \par \par }\pard \ql \li720\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin720\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (a) by omitting the figures, "$10,000" wherever th}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15297099 ey appear and substituting the }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 figures, "$50,000"}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15297099 ;}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li720\ri0\widctlpar\tx1152\faauto\adjustright\rin0\lin720\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 (b) }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 by repealing paragraph (t) and inserting the following paragraph:}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 "(t) $200 upon registration by the Registrar of a company incorporated under this Act; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (i) if the authorised capital of the company does not exceed $50,000 and some or all of its shares have no par value; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (ii) The company has no authorised capital and all of its shares have no par value." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 (c) }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 by repealing paragraph (z) and inserting the following paragraph:}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15297099 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 "(z) $50 upon registration by the Registrar of any documents refer}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid12478176 red to in sections 111B and 111}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 C."}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid7807972 5. Licence}{ \b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7807972 fees}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid8933131 - }{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (1) Section 105 of the principal Act is hereby amended by omitting the figures "$10,000" wherever they appear and substituting the figures "$50,000". \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (2) Section 105 (1) of the principal Act is hereby amended by repealing paragraph (c) and inserting the following paragraph:}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 "(c) $200 if }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972 on the licence fee payment date-}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9727016 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7807972\charrsid7961502 \par }\pard \ql \li1440\ri0\widctlpar\tx1872\faauto\adjustright\rin0\lin1440\itap0\pararsid15408793 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793 (i) }{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 its authorised capital does not exceed $50,000 and some or all of its shares have no par value; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15408793 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 (ii) it has no authorised capital and none of its shares have a par value".}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15408793 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\tx864\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid15408793 6. }{ \b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid15408793 Optional registration of other documents}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 -}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid16584802 }{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 The principal Act is hereby amended by inserting the follow}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793 ing section after section 111B}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid16584802 -}{ \fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid15408793 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15408793 {\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid16584802 "}{\b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid16584802\charrsid8933131 111}{ \b\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid8933131 C. Optional registration of other documents}{\fs24\expnd0\expndtw-2\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid7961502 - A company incorporated under this Act may submit to the Registrar, for registration, any document or copy of a document in connection with the company and the Registrar, if he accepts the document for registration, shall retain and register such document or copy thereof." \par }\pard \ql \li0\ri0\widctlpar\tx6624\tx7488\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793 \par }\pard \qc \li0\ri0\widctlpar\tx6624\tx7488\faauto\adjustright\rin0\lin0\itap0\pararsid15408793 {\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid8933131 -----------------------------------------}{ \fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793 \par }\pard \ql \li0\ri0\widctlpar\tx6624\tx7488\faauto\adjustright\rin0\lin0\itap0\pararsid7807972 {\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793 \par }\pard \qc \li0\ri0\widctlpar\tx6624\tx7488\faauto\adjustright\rin0\lin0\itap0\pararsid15408793 {\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid16584802 This Act }{ \fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid16584802 was passed}{\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid16584802 by the Niue Assembly on the 11}{ \fs24\expnd1\expndtw6\lang2057\langfe1033\super\langnp2057\insrsid15408793\charrsid16584802 th}{\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid16584802 }{ \fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid16584802 day}{\fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid15408793\charrsid16584802 of December 1996}{ \fs24\expnd1\expndtw6\lang2057\langfe1033\langnp2057\insrsid7961502\charrsid16584802 . \par }}