(758) 468-3200
Government Saint Lucia
 
 
 
Home
/
Departments
/
Legislative Drafting
/
Revised Laws of Saint Lucia
/
INTERNATIONAL BUSINESS COMPANIES ACT
/
14.   Powers

Revised Laws of Saint Lucia (2022)

saint Lucia
back arrow Back to Revised Laws of Saint Lucia (2022)
back arrow Back to Table of Contents

14.   Powers

  1.  

    (1)   Subject to any limitations in its memorandum or articles, this Act or any other law in force in Saint Lucia, despite any of the provisions of the Companies Act an international business company has the power, irrespective of corporate benefit, to perform all acts and engage in all activities necessary or conducive to the conduct, promotion or attainment of the purposes of the international business company, including the power to do the following—

    1.  

      (a)     issue registered shares;

    1.  

      (b)     issue the following:

      1.  

        (i)     voting shares,

      1.  

        (ii)     non-voting shares,

      1.  

        (iii)     shares that may have more or less than one vote per share,

      1.  

        (iv)     shares that may be voted only on certain matters or only upon the occurrence of certain events, or

      1.  

        (v)     shares that may be voted only when held by persons who meet specified requirements;

    1.  

      (c)     issue common shares, preferred shares, limited shares or redeemable shares;

    1.  

      (d)     issue shares that entitle participation only in certain assets;

    1.  

      (e)     issue options, warrants or rights or instruments of a similar nature to acquire any securities of the international business company;

    1.  

      (f)     issue securities that, at the option of the holder thereof or of the international business company or upon the happening of a specified event, are convertible into, or exchangeable for, other securities in the international business company or any property owned or to be owned by the international business company;

    1.  

      (g)     purchase, redeem or otherwise acquire and hold its own shares;

    1.  

      (h)     guarantee a liability or obligation of any person and to secure any of its obligations by mortgage, pledge or other charge, of any of its assets for that purpose;

    1.  

      (i)     protect the assets of the international business company for the benefit of the international business company, its creditors and its members, and at the discretion of the directors, for any person having a direct or indirect interest in the international business company;

    1.  

      (j)     issue shares in any one or more currencies; and

    1.  

      (k)     subject to sections 12 and 38 maintain offices or branches or a presence in any form whatsoever, in any jurisdiction.

  1.  

    (2)   For the purposes of subsection (1), despite any other provision of this Act, or any other law in force in Saint Lucia or any rule of law to the contrary, the directors may cause the international business company to transfer any of its assets in trust to one or more trustees, or to any person and with respect to the transfer, the directors may provide that the international business company, its creditors, its members, or any person having a direct or indirect interest in the international business company, may be the beneficiaries, creditors, members, certificate holders, partners or holders of any other similar interest.

(Amended by Act 14 of 2002)

Address

2nd Floor Francis Compton Building, 
Waterfront,
Castries, Saint Lucia

Need help?

Site Map

HomeAbout AG OfficeDepartmentsAccessibilityContact Us

Quick Links

Inland Revenue Department of Government of Saint Lucia (IRD)Government of Saint Lucia Citizenship by Investment Financial Intelligence Authority

Important Links

CARICOMOECSFSRA
 
© 2025 Attorney General's Chambers
Site by