A Protected Cell Company (PCC) is a single company with individual parts, known as cells, which are kept separate from each other. Each cell is only liable for its own debts and not for the debts of any other cell within the company. The provisions of the Companies Ordinance apply in relation to a protected cell company (subject to the provisions of the PCC Ordinance, and unless the context requires otherwise).
A company may be either incorporated as a PCC, or converted, if so authorised by its articles, into a PCC. A protected cell company is a single legal person, and the creation by a PCC of a cell does not create, in respect of that cell, a legal person separate from the company. A protected cell company must state that it is one, i.e. the name of the PCC must include "Protected Cell", "PCC", or any cognate expression approved in writing by the Registrar. The memorandum of a PCC shall state that it is such, and each cell shall have its own distinct name or designation.
