Guide To Continuance Of A Company In Jersey

1. INTRODUCTION

The provisions of Jersey law which are relevant to the continuance of an overseas company in Jersey are set out in Articles 127(H) through 127(Y) of the Companies (Jersey) Law 1991, as amended (the Law). The Law provides that a company which is incorporated outside Jersey may apply to the Jersey Financial Services Commission (JFSC) for authorisation to seek continuance as a body incorporated under the laws of Jersey, if it is authorised to make such application by the laws of the jurisdiction under which it is incorporated. However, application cannot be made in respect of an overseas company which is insolvent, en désastre or in the process of being wound up or liquidated, it has entered into a compromise or arrangement with a creditor which is in force or in respect of which a receiver or administrator has been appointed.