(1) One or more international business companies may merge or consolidate with one or more companies incorporated under the laws of jurisdictions outside Saint Lucia in accordance will subsections (2) to (4), including where one of the constituent companies is a parent company and the other constituent companies are subsidiary companies, if the merger or consolidation is permitted by the laws of the jurisdictions in which the companies incorporated outside Saint Lucia are incorporated.
(2) The following apply in respect of a merger or consolidation under this section—
(a) an international business company shall comply with the provisions of this Act with respect to the merger or consolidation, of such companies and companies incorporated under the laws of a jurisdiction outside Saint Lucia and shall comply with the laws of that jurisdiction; and
(b) if the surviving company or the consolidated company is to be incorporated under the laws of a jurisdiction outside Saint Lucia, it must submit to the Registrar—
(i) an agreement that a service of process may be effected on it in Saint Lucia in respect of proceedings for the enforcement of any claim, debt, liability or obligation of a constituent company that is an international business company or in respect of proceedings for the enforcement of the rights of a dissenting member of a constituent company that is an international business company against the surviving company or the consolidated company,
(ii) an irrevocable appointment of the Registrar as its agent to accept service of process in proceedings referred to in subparagraph (i),
(iii) an agreement that it will promptly pay to the dissenting members of a constituent company that is an international business company, the amount if any, to which they are entitled under this Act with respect to the rights of dissenting members, and
(iv) a certificate of merger or consolidation issued by the appropriate authority of the foreign jurisdiction where it is incorporated; or, if no certificate of merger is issued by the appropriate authority of the foreign jurisdiction, then, such evidence of the merger or consolidation as the Registrar considers acceptable.
(3) The effect under this section of a merger or consolidation, is the same as in the case of a merger or consolidation under section 76, if the surviving company or the consolidated company is incorporated under this Act, but if the surviving company or the consolidated company is incorporated under the laws of a jurisdiction outside Saint Lucia, the effect of the merger or consolidation is the same as in the case of a merger or consolidation under section 76 except in so far as the laws of the other jurisdiction otherwise provide.
(4) If the surviving company or the consolidated company is incorporated under this Act, the merger or consolidation is effective on the date the articles of merger or consolidation are registered by the Registrar, or on such date subsequent thereto, not exceeding 30 days, as is stated in the articles of merger or consolidation; but if the surviving company or the consolidated company is incorporated under the laws of a jurisdiction outside Saint Lucia, the merger or consolidation is effective as provided by the laws of that other jurisdiction.