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The BVI FSC has recently published guidance stating that in order to “re-enable” bearer shares that were disabled on January 1, 2010, it is necessary to apply to court in the British Virgin Islands. The key implication of this guidance is that failure to apply to court and “re-enable” bearer shares prior to December 31, 2010 will result in the shares becoming permanently disabled.
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British Virgin Islands Guidance on the Bearer Share Regime