(1) Subject to subsections (2) and (3), a company may be incorporated under this Act for any purpose not prohibited under this Act or under any other law in force in Saint Lucia. (Amended by Act 13 of 2018)
(2) A company shall not be incorporated under this Act to engage in business as an incorporated cell company or an incorporated cell except for the purposes of international insurance business under the International Insurance Act.
(3) An international business company incorporated prior to the 1st day of December, 2018 shall not—
(a) acquire any new asset or engage in an object or purpose other than the object or purpose for which that company was incorporated;
(b) acquire, directly or indirectly, intellectual property from a related party.
(Inserted by Act 13 of 2018 and substituted by Act 2 of 2019)
(4) Subsection (3)(b) is deemed to have come into force on the 31st day of August, 2018. (Inserted by Act 2 of 2019)
(Amended by Act 43 of 2006)