Name a professional sports team, any sports team. From football
to basketball to hockey, they all have one thing in common when
they step onto the field, court, or rink; they have a game plan.
The key to achieving goals is having a plan, whether for a
professional sports team or a company. For companies, the plan
starts at a far more fundamental level, before the growth strategy
and marketing goals are laid out; it starts with the bye-laws. The
bye-laws set out the rights, powers and obligations of the
directors, officers and shareholders of a company. It is this
initial framework upon which the rest of the company is built.
Companies registered in Bermuda, whether local or exempt, all
have one thing in common; their main governance documents are their
memorandum of association and bye-laws. The Bermuda Companies Act
1981 (Companies Act) is the primary piece of
legislation in Bermuda with respect to matters affecting a
company's incorporation, and it is the main
