Welcome changes included in Guernsey Company Law amendments

New amendments to the Companies (Guernsey) Law, 2008 (the Companies Law) will come into force on 3 September 2015 following approval by the States of Guernsey on 29 July 2015. Transitional regulations will assist this change process.

There are welcome changes based on industry experience of operating under the Companies Law which are intended to provide clarification, increase operational efficiency and flexibility, all of which will help to keep Guernsey well placed as a jurisdiction of choice. 

Regulations which were introduced to transition companies incorporated prior to the Companies Law coming into force will continue to apply until 31 December 2016, giving such companies ample time to implement any changes necessary to fully comply with the Companies Law (for instance, amending memorandum and articles of incorporation). 

Read our client briefing The Companies (Guernsey) Law, 2008 (Amendment) Ordinance, 2015.