Regulatory Alerts2024-01-31
Added · Updated
Administrative Strike-Off of Companies Pursuant to Belize Cabinet Brief and Press Release
The Financial Services Commission of Belize has initiated the administrative strike-off process for companies that failed to re-register under the Belize Companies Act, Act No. 11 of 2022. Following Cabinet approval in November 2023 and the expiration of a twelve-month compliance window, the Commission's Director General, acting as Registrar of Companies, is authorized to remove these non-compliant entities from the official register. Struck-off entities may apply for restoration under section 222 of the Act, while the public is reminded to monitor ongoing regulatory obligations and updates regarding the strike-off procedure.
No. 31 Belmopan, 18th January, 2024. STATUTORY INSTRUMENTS The undermentioned Statutory Instruments are hereby published with this issue of the Government Gazette and form a part thereof. S. I. No. 18 of 2024 – Financial Services Commission (Licensing) (Amendment) Regulations, 2024. S. I. No. 19 of 2024 – Income and Business Tax (Inclusion of other Statutory Body within the Meaning of Public Statutory Body) Order, 2024. S. I. No. 20 of 2024 – Immigration (Visa Exemption) (The Government of the Russian Federation) Regulations, 2023. 40 BELIZE GAZETTE, 20TH JANUARY, 2024
PUBLIC NOTICE Administrative Strike-Off of Companies pursuant to the Government of Belize Cabinet Brief, Press Release PR#264-23 FSC/3/PN/023 It is hereby notified for general information that in accordance with Government of Belize Press Release of the Cabinet Brief PR#264-23 dated 30th November 2023, the Cabinet approved the Financial Services Commission (Commission) to undertake the administrative strike-off process for companies that have neglected to re-register since the implementation of the Belize Companies Act, Act No. 11 of 2022 (the Act). The Act was brought into force by the Belize Companies Act, 2022 (Commencement) (No. 2) Order, 2022 on the 28th day of November 2022 and companies were given twelve (12) months to comply with the Act’s requirements pursuant to section 313 (10). In accordance with Section 283(1) of the Act, the Director General of the Commission functions as the Registrar of Companies and possesses the authority to initiate the administrative strikeoff process. Following strike-off, companies wishing to be reinstated on the register are encouraged to apply for restoration in accordance with section 222 of the Act. It is the duty of the public to keep abreast of updates and obligations regarding the administrative strike-off process under the Act. FINANCIAL SERVICES COMMISSION 18th January 2024 No. 32