• Section 6: Section 6: Formalities of Carrying on Business

    • Article 44 - Requirement to keep internal Company registers

      (1) Every LLC shall keep the following internal registers at its registered office address:
      (A) Register of Members as provided for in Article 19(6);
      (B) Register of directors and secretary, including Name, Address, nationality, date of birth and business occupation;
      (C) Register of transfers of Shares, including Name and Address of transferor and transferee, date of transfer and number and class of Shares transferred; and
      (D) Register of allotments of Shares, including Name of applicant, date of application and allotment and number and class of Shares.
      For an LLC (Public), a record of transfer or title to any shares in the LLC (Public) held in the QSE or the relevant exchange's registry or system will be the definitive register of transfers and register of Members..
      (2) Any Member may without charge, and any other person may upon payment of any reasonable fee required by the LLC, visit the registered office during the office hours of the LLC in order to inspect the registers referred to in Article 44(1).
      (3) For an LLC (Public), on such notice as is reasonably required for the LLC (Public) to obtain the registers from the QSE or other exchange, any Member may without charge, and any person may upon payment of any reasonable fee required by the LLC (Public), visit the registered office during the office hours of the LLC (Public) in order to inspect the registers referred to in Article 44(1)(A) and Article 44(1)(C).
      Amended (as from 5th April 2015).

    • Article 45 - Name to appear outside place of Business

      (1) Every LLC shall paint or affix, and keep painted or affixed, its name on the outside of every office or place in which its Business is carried on, in a conspicuous position and in letters easily legible.
      (2) If an LLC does not paint or affix, and keep painted or affixed, its name as required above, the LLC and every Officer of it who is in default is in contravention of these Regulations.

    • Article 46 - Disclosures required of an LLC in the use of its name

      (1) The name of an LLC, its registered number, and the address of its registered office shall appear in legible characters in all its Business letters, written orders for goods or services, invoices and receipts, written demands for payment and other such similar Documentation.
      (2) If an Officer of an LLC or a person on its behalf:
      (A) issues or authorises the issue of any Business letter of the LLC, or any Document mentioned in Article 46(1), in which the LLC's name is not so mentioned as required by Article 46(1); or
      (B) signs or authorises to be signed on behalf of the LLC any bill of exchange, promissory note, endorsement, cheque or order for money or goods in which the LLC's name is not mentioned as required by Article 46(1)
      he is in contravention of these Regulations and he is further personally liable to the holder of any such bill of exchange, promissory note, cheque or order for money or goods for the amount of it (unless it is duly paid by the LLC).