Section 2: Interpretation

2. Interpretation (1) In this Act— “Articles” means the Articles of Association of a protected cell company registered with the Registrar; P42 – 1 [Issue 1] Protected Cell Companies Act “cell” means a cell created by a protected cell company for the purpose of segregating and protecting cellular assets; “cell shares” means shares created and issued by a protected cell company in respect of one of its cells; “cell share capital” means the proceeds of issue of cell shares; “cellular assets”, in relation to a protected cell company, means the assets of the company attributable to the company’s cells; “cellular dividend” means a dividend payable by a protected cell company in respect of cell shares; “Commission” means the Financial Services Commission deemed to have been established under the Financial Services Act; “Court” means the Bankruptcy Division of the Supreme Court; “creditors” includes present, future and contingent creditors; “global business” has the same meaning as in the Financial Services Act; “liability” includes any debt or obligation; “Minister” means the Minister to whom responsibility for the subject of financial services is assigned; “non-cellular assets” means the assets of the company which are not cellular assets; “protected cell company” means a company incorporated, registered by way of continuation or converted as such; “Registrar” has the same meaning as in the Companies Act. (2) Subject to this Act, any word or expression defined in the Companies Act and the Financial Services Act have the same meaning in this Act. [S. 2 amended by s. 46 (8) (b) of Act 13 of 2001 w.e.f. 1 December 2001; s. 362 (3) (a) of Act 15 of 2001 w.e.f. 1 December 2001; s. 132 (3) (a) of Act 21 of 2005 w.e.f. 28 September 2007; s. 97 (8) (b) of Act 14 of 2007 w.e.f. 28 September 2007.]