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{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 INTERNATIONAL BUSINESS COMPANIES}{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (AMENDMENT No. 2) ACT, 1998 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2229950 {\fs24\lang2057\langfe5129\langnp2057\insrsid2229950 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2229950 {\fs24\lang2057\langfe5129\langnp2057\insrsid2229950\charrsid1066373 No: 241}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2229950 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid2229950\charrsid13851197 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid8155221 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid3036821 Arrangement of provisions}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid3036821 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid3036821 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid3036821 Provision number \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid3036821 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Short title \par 2}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Name}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 3}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Striking off}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 4}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Restoration to Register \par 5}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Fees \par 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 License fees \par }\pard \qj \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid11412994 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid15941285 {\fs24\lang2057\langfe5129\langnp2057\insrsid3036821 --------------------------------}{\fs24\lang2057\langfe5129\langnp2057\insrsid15941285 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 AN ACT}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \qj \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5509406 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 to amend the International Business Companies Act, 1994 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid1253905 BE IT ENACTED}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 by the Niue Assembly in Session Assembled, and by the authority of same, as follows: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 1.}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Short title \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 (1) }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 This Act may be cited as the International Business Companies (Amendment No. 2) Act 1998, and shall be read together with and deemed part of the International Business Companies 1994 and the International Business Companies (Amendment) Act 1998 (hereinafter referred to as the Principal Act) \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (2) This Act shall come into force on the 1st January, 1999. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 2 Name \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Section 11 (8) (b) of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5509406 Principal Act is hereby}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 amended}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 by adding the words "or Romanized version" after "English translation". \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 3 Striking}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid4132755 -}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 off \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (1) Subsections (5) and (6) of Section 99 of the Principal Act are hereby repealed and substitu}{\fs24\lang2057\langfe5129\langnp2057\insrsid5509406 ted by the following Subsection-}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(5)}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 If a company fails to pay the increased license fee referred to in Subsection (4) of Section 105 on or before the expiration of a period of three (3) months, that is, eight (8) months from the anniversa ry date of the incorporation of the company, the Registrar shall strike the name of the company off the Register on the date immediately following such period of eight (8) months from the anniversary date of the incorporation of the company."}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4132755 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (2) Subsection (11) of Section 99 of the Principal Act is hereby repealed and th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5509406 e following subsection inserted-}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(11) Subsection (5) does not apply to a company in the process of being wound up and dissolved."}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4132755 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 4.}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 Restoration to Register \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3036821 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (1) Subsection (3) of Section 100 of the Principal Act is hereby amended by omitting the words "subsection (6) of section 99" and substituting "subsection (5) of section 99". \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 5. Fees \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3036821 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (1) Section 104 (1) of the Principal Act is h}{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 ereby amended -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (a) by repealing paragraph (a) and inserting the following paragraph: \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li1440\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 $150.00 upon the registration by the Registrar of a company incorporated under this Act." \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4132755 {\fs24\lang2057\langfe5129\langnp2057\insrsid3036821 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (b) by omitting paragraph (b) in its entirety; \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (c) by repealing paragraph (d) and in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13851197 serting the following paragraph-}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }\pard \ql \li1440\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(d) $500.00 upon the registration by the Registrar of articles of merger or consolidation."}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3036821 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (d) by repealing paragraph (e) and in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13851197 serting the following paragraph-}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4132755 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li1440\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(e) $500.00 upon the registration by the Registrar of articles of arrangement." \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (e) by omitting paragraphs (r), (s), (t) and (u) in their entirety.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid4132755 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 6.}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 License Fees}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 (1) Section 105 (1) of the principal Act is hereby amended \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li720\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 a) by repealing subsections (1) and (4) and inse}{\fs24\lang2057\langfe5129\langnp2057\insrsid5509406 rting the following subsections-}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197 \par }\pard \ql \li1440\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(1) A company that is on the Register in any year shall on the anniversary of its date of incorporation or up to three (3) months thereafter pay to the Registrar a license fee of $150.00."}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3036821 {\fs24\lang2057\langfe5129\langnp2057\insrsid13851197\charrsid13851197 \par }\pard \ql \li1440\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1440\itap0\pararsid13851197 {\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 "(4) If a company fails to pay the amount due as an increased lic ense fee under subsection (3) at or before the expiration of a period of 2 months from the time specified in subsection (1), that is, five (5) months from the anniversary date of the incorporation of the company then the license fee increases by 50 per ce nt of that amount."}{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13851197 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid1453938 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 The Niue Assembly passed this Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid5509406 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 on the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1904508 26}{\fs24\lang2057\langfe5129\super\langnp2057\insrsid1904508\charrsid1904508 th}{\fs24\lang2057\langfe5129\langnp2057\insrsid1904508 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 day of}{\fs24\lang2057\langfe5129\langnp2057\insrsid11412994\charrsid13851197 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1904508 November }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1453938\charrsid13851197 1998.}{\fs24\lang2057\langfe5129\langnp2057\insrsid3691262 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid3691262\charrsid13851197 \par }\pard \qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid3036821 {\fs24\lang2057\langfe5129\langnp2057\insrsid3036821 ----------------------------------------------------------- \par }\pard \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5915203 {\fs24\lang2057\langfe5129\langnp2057\insrsid3691262 \par }}