Guernsey funds legal and regulatory update

An overview of Guernsey legislative and regulatory developments for the period 1 December 2022 to 28 February 2023 inclusive.

1 Corporate insolvency regime – update

The Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (the Amendment Ordinance) finally came into force on 1 January 2023.

Filed under:
Guernsey, Capital Markets, Company & Commercial, Insolvency & Restructuring, IT & Data Protection, Litigation, White Collar Crime, Mourant, Anti-money laundering, Confidential information, Suspicious activity reporting, European Court of Justice
Authors:
Darren Bacon , Frances Watson , James Cousins , Charlotte Brown , Gary Hall , Alasdair McKenzie , Annaliese McGeoch
Location:
Guernsey
Firm:
Mourant
Company strike of

Strike off is the procedure of removing a company from the Register of Companies (the Register) following which the company will cease to exist.

Under the Companies (Guernsey) Law, 2008 (the Companies Law), a company may be struck off in one of three situations:

  1. if the company is defunct;
  2. if the company is defaulting; or
  3. if the company itself applies to be voluntarily struck off.

Strike off by the Registrar of Companies

Filed under:
Guernsey, Insolvency & Restructuring, Mourant
Authors:
Barney Lee , Darren Bacon , Gavin Farrell , John Lewis , Mark Chambers
Location:
Guernsey
Firm:
Mourant
The restoration game

The Registrar of Companies (the Registrar) has the power pursuant to the Companies (Guernsey) Law, 2008 (the Companies Law) to strike off companies which are either defunct or defaulting.

Filed under:
Guernsey, Insolvency & Restructuring, Mourant
Authors:
Barney Lee , Darren Bacon , Gavin Farrell , John Lewis , Mark Chambers
Location:
Guernsey
Firm:
Mourant