Companies (Protected Cell Companies) (Prescribed Classes) Regulations, 2024

Summary

This Guernsey Financial Services Commission statutory instrument prescribes an additional class of company that is eligible to be incorporated as, or converted into, a protected cell company under the Companies (Guernsey) Law, 2008. It does not create new compliance duties but expands the pool of companies that may use the protected cell company structure.

• Prescribed class: Any company that is, or will be when incorporated, licensed to carry on the regulated activity under section 2(1)(e) of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 is prescribed for the purposes of section 437(1)(e) of the Companies (Guernsey) Law, 2008.
• Effect: Such a company can be incorporated as a protected cell company, or an existing licensed company of this type can be converted into a protected cell company.
• Commencement: The Regulations came into force on 20 December 2024.

Applies to

companies licensed to carry on the regulated activity under section 2(1)(e) of the Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020, fiduciary licensees

Deadlines

• 20th December, 2024: Date on which the Regulations come into force