Regulatory Alerts2003-01-01
Protected Cell Companies Act 2003
Issued by the Seychelles Parliament and administered by the International Business Authority, the Protected Cell Companies Act 2003 establishes a statutory framework enabling companies to incorporate or convert into protected cell structures. The legislation mandates the strict segregation of cellular and non-cellular assets, ensuring that liabilities and creditor claims are ring-fenced to specific cells unless fraud or explicit agreement dictates otherwise. It further outlines comprehensive procedures for cell share capital reduction, receivership and administration orders, and imposes personal liability on directors who fail to properly identify the relevant cell in transactions.
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