Form BC(SPC)-2 SPC Director Declaration

Summary

This is a statutory declaration form that a director must complete and sign on behalf of a BVI Business Company's board when applying to register the company as a segregated portfolio company (SPC) under the Segregated Portfolio Companies (BVI Business Company) Regulations, 2018. It is filed to satisfy Regulation 3(4)(c) and confirms certain pre-registration steps have been taken.

• Board approval: Declares that resolutions of directors have been passed approving the company's registration as a segregated portfolio company.
• Solvency confirmation: Declares that the company is solvent and that the company and each proposed segregated portfolio will remain solvent after assets are allocated to segregated portfolios.
• Member notice: Declares that the company has given notice to its members of its intention to apply for registration as a segregated portfolio company.

The form requires the declaring director's name, signature and the date of signing, and is submitted as part of the SPC registration application.

Key obligations

• A director must declare that board resolutions approving SPC registration have been passed before applying for registration.
• A director must confirm the company and each proposed segregated portfolio will be solvent after assets are allocated to segregated portfolios.
• A director must confirm that notice of the intention to apply for SPC registration has been given to the company's members.
• The declaring director must sign and date the form as part of the registration application.

Applies to

BVI Business Companies applying for segregated portfolio company status, directors of BVI Business Companies