Micro Business Companies (Amendment of Schedule 1) Order, 2018

Summary

This is a short statutory instrument made by the BVI Cabinet, on the advice of the Financial Services Commission, amending Schedule 1 of the Micro Business Companies Act, 2017. It changes two numerical figures set out in column 3 of Part I of the Schedule, reducing them from 140 to 100.

• Section 5(1) entry: The figure in column 3 relating to section 5(1) of the Act is changed from 140 to 100.
• Section 113(2) entry: The figure in column 3 relating to section 113(2) of the Act is changed from 140 to 100.

The Order does not otherwise alter the structure of the Micro Business Companies Act, 2017. It was made and gazetted on 4 June 2018 and takes effect as an amendment to the Act's Schedule 1 thresholds, though the document itself does not restate what these figures represent (e.g. employee numbers or turnover limits) beyond their location in the Schedule.

Applies to

micro business companies