Companies (Minimum Share Capital) Order 2000

Link to law: http://www.bermudalaws.bm/Laws/Annual%20Laws/2000/Statutory%20Instruments/Companies%20%28Minimum%20Share%20Capital%29%20Order%202000.pdf

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Companies (Minimum Share Capital) Order 2000
COMPANIES (MINIMUM SHARE CAPITAL) ORDER 2000

1

BR 72/2000

COMPANIES ACT 1981

1981 : 59

THE COMPANIES (MINIMUM SHARE CAPITAL) ORDER 2000

ARRANGEMENT OF PARAGRAPHS

1 Citation
2 Minimum share capital

3 Revocation of BR 30/1983
4 Commencement

The Minister of Finance, in exercise of the powers conferred on
him by section 6(3) of the Companies Act 1981, makes the following
Order:

Citation
1 This Order may be cited as the Companies (Minimum Share
Capital) Order 2000.

Minimum share capital
2 No company shall be registered under the Companies Act 1981 if
its minimum share capital—

(a) in the case of an insurance company, is less than the
amount required under section 7 of the Insurance Act
1978;

(b) in the case of a mutual fund company, is less than $1;

(c) in the case of any other company is less than $12,000.

2

Revocation of BR 30/1983
3 The Companies (Minimum Share Capital) Order 1983 (BR
30/1983) is revoked.

Commencement
4 This Order comes into force on 1st October 2000.
.

Made this 1st day of October, 2000

Minister of Finance