26th July 2011
Incorporated Cell Companies
The Incorporated Cell Companies Act 2010 provides a framework for the formation and operation of incorporated cell companies on the Island. The use of incorporated cell companies is currently restricted to the carrying on of insurance business. However, provision exists within the Act such that, should it be considered desirable in the future, the use of incorporated cell companies can be extended to include other types of business.
With effect from 23rd June 2011, the Incorporated Cells Regulations 2011 and the Insurance (Incorporated Cell Companies) Regulations 2011 came into effect. Further information in respect of Incorporated Cell Companies is available on the IPA’s website here.