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In a recent opinion, the Privy Council has given definitive guidance on the operation of the statutory scheme in the British Virgin Islands (“BVI”) for the rectification of share registers, particularly in the context of applications to serve parties out of the jurisdiction. Although this guidance is welcomed, not least since it has been an unclear area for several years in the BVI and is of important practical effect, the result of the Privy Council’s analysis may well be unwelcomed in many quarters.
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Privy Council Guidance on Rectification of BVI Share Registers and Service Out