Section 146
of International Business Companies Order, 2000
Section 146
(1)
From the time of the issue of a certificate under section 145(3) –
(a)
the foreign company to which the certificate relates shall be regarded as an IBC incorporated under this Order and capable of exercising all the powers of an IBC accordingly; and
(b)
the foreign company shall no longer be treated as a company incorporated in a jurisdiction outside Brunei Darussalam.
(2)
The conversion of a foreign company into an IBC shall not affect its property or liabilities in any way nor shall the conversion affect the continuation of any proceedings which are pending by or against the company at the time of the issue of the certificate under section 145(3).
(3)
All shares in a company that were outstanding prior to the issue of a certificate under section 145(3) shall be deemed to have been issued in conformity with the Order.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
123
BLUV as at 20th June 2017
Striking off of IBC continuing to be incorporated overseas.