Incubator Funds Application for Extension Form (Form IB-E1-IAF)

Summary

This is the BVI Financial Services Commission's official form for an incubator fund seeking to extend its operating period beyond the standard two year approval. It is used under Regulation 13 of the applicable regulations to request additional time for the fund to continue operating as an incubator fund.

• Applicant details: Name of the incubator fund, date the fund commenced business, and the length of extension being requested
• Reason for extension: A detailed explanation of why an extension beyond the approved two year period is needed
• Current circumstances: Total number of investors and total net assets as at the date of application
• Prior extensions: Disclosure of whether a previous extension was granted and, if so, its length
• Declaration: A signed declaration by an authorised signatory (director, authorised representative, or legal practitioner) confirming the accuracy of the information provided

Submitting false or misleading information on this form may lead the Commission to deny the application, deny future applications by the same applicant, and take enforcement action.

Key obligations

• An incubator fund seeking to extend its two year operating period must complete and submit Form IB-E1-IAF with details of the fund, reason for extension, current investor numbers and net assets, and history of prior extensions
• The application must include a signed declaration by an authorised signatory (director, authorised representative, or legal practitioner) affirming the accuracy of the information provided

Applies to

incubator funds