Bermuda Consolidated Legislation

 

BERMUDA STATUTORY INSTRUMENT

BR 30/1983

COMPANIES (MINIMUM SHARE CAPITAL) ORDER 1983

[made under section 6(4) of the Companies Act 1981 [title 17 item 5] and brought into operation on 1 July 1983]

Citation

1 This Order may be cited as the Companies (Minimum Share Capital) Order 1983.

Minimum share capital

2 Without prejudice to section 4(2)(c) of the Deposit Companies Act 1974 [title 17 item 19], section 3(1)(e) of the Banks Act 1969 [title 17 item 20] and section 7 of the Insurance Act 1978 [title 17 item 49], no com pany shall be registered under the Companies Act 1981 if its minimum share capital is less than $12,000.

 

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