Section 10
of International Business Companies Order, 2000
Section 10
(1)
Upon applying for the registration of the Memorandum and Articles of a proposed IBC in accordance with section 11, the registered agent shall file with the Registrar in the prescribed form a certificate of due diligence under this section signed by an individual who is a director or a designated officer of the registered agent.
(2)
A registered agent, director or designated officer who wilfully or negligently signs or files a certificate of due diligence which is untrue, misleading or based on incomplete information shall be guilty of an offence and liable on conviction to imprisonment for a term not exceeding one year, a fine not exceeding one hundred and fifty thousand dollars or both.
(3)
Where an individual ceases to be a director or designated officer for the purposes of this section, it shall be the responsibility of the registered agent forthwith so to notify the Registrar in writing. A registered agent who fails to comply with this section shall be guilty of an offence and liable on conviction to a fine not exceeding one hundred and fifty thousand dollars.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
19
BLUV as at 20th June 2017
(4)
In this section, “designated officer” means an individual nominated by a registered agent and notified in writing to the Registrar as a person having authority to sign a certificate of due diligence.
Registration of Memorandum and Articles.