New Companies Law - Transitional Provisions

Introduction

This memorandum has been prepared for the assistance of our clients in connection with the savings and transitional provisions that apply to Guernsey companies that were incorporated and existed prior to the enactment of the Companies (Guernsey) Law, 2008 (the "Companies Law") which came into force on 1 July 2008. These transitional provisions are found in the Companies (Transitional Provisions) Regulations, 2008 and schedule 4 of the Companies Law (together, the "Transitional Provisions").

This memorandum is intended to provide a summary of the main principles applicable to such matters and it is not intended to be comprehensive in scope. It is strongly recommended that you seek specific legal advice on any such matters should further assistance be required. A series of briefings on other aspects of Guernsey law has been produced by Ogier and is available on request. This memorandum has been prepared on the basis of the law and practice as at 1