156. Transfer of incorporation from AIFC to another jurisdiction
(1) A Company may, if it is authorised by a Special Resolution or the Registrar in the way prescribed by the Rules, apply to the appropriate official or public body of a jurisdiction outside the AIFC (the other jurisdiction) to transfer its incorporation to the other jurisdiction and request that the Company be continued as a Foreign Company.
(2) The Company must not apply under subsection (1) unless the laws of the other jurisdiction provide that the Foreign Company:
- (a) continues to have all the property, rights and privileges, and is subject to all the Liabilities, restriction and debts, that it had before the continuation; and
- (b) remains a party in any legal proceedings commenced in any jurisdiction in which it was a party before the continuation.
(3) The Company ceases to be a Company within the meaning of these Regulations if the Company is continued as a Foreign Company and files with the Registrar a copy of the certificate or instrument of continuation certified by the appropriate official or public body of the other jurisdiction.
(4) When the Registrar receives the other jurisdiction’s certificate or instrument of continuation, the Registrar must strike the name of the Company off the Register.