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I 1 AMALGAMATIONS 167.
Two or more corporations, including holding Amalgamation.
and subsidiary corporations, may amalgamate and continue as one corporation.
168. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 1 ) Each corporation proposing to amalgamate -44yg;zi" must enter into an agreement setting out the terms and means of effecting the amalgamation and, in particular, without limiting the generality of the foregoing, setting out: ( a ) the provisions that are required to be included in articles of incorporation under ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business corporation^ LAWS OF ANTIGUA AND BARBUDA (d) if any shares of an amalgamating corporation are not to be converted the amalgamated corporation, the amount of money or securities of any body corporate that the holders of those shares are to receive instead of securities of the amalgamated corp... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) If shares of one of the amalgamating corporations are held by or on behalf of another of the amalgamating corporations, the amalgamation agreements must provide for the cancellation of those shares when the amalgamation becomes effective without any repayment of capital in respect thereof; and no provision may be m... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
169.
(1) The directors of each amalgamating cor- poration must submit the amalgamation agreement for approval to a meeting of the shareholders of the amalgamating corporation of which they are directors and, subject to subsection (4), to the holders of each class or series of shares of that amalgamating corporation. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) A notice of a meeting of shareholders complying with section 108 must be sent in accordance with that sec- tion to each shareholder of each amalgamating corporation; and the notice ( a ) must include or be accompanied with a copy or summary of the amalgamation agreement; and Approval by shareholders.
LAWS OF ANTIG... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222 93 (b) must state that a dissenting shareholder is entitled to be paid the fair value of his shares in accord- ance with section 191; but failure to make the statement referred to in paragraph (6) does not invalidate an amalgamation.
(3) Each share of an amalgamating corporation carries the right to vote in respec... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) The holders of shares of a class or series of shares of an amalgamating corporation are entitled to vote separately as a class or series in respect of an amalgamation when the amalgamation agreement contains a provision that, if con- tained in a proposed amendment to the articles, would enti- tle those holders to v... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 5 ) An amalgamation agreement is adopted when the shareholders of each amalgamating corporation have approved of the amalgamation by special resolutions of each class or series of the shareholders entitled to vote on the amalgamation.
( 6 ) An amalgamation agreement may provide that at any time before the issue of a... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
the shareholders of all or any of 170.
A holding corporation and one or more of its E C a t s h o r t - wholly-owned subsidiary corporations may amalgamate and amalgamation. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
continue as one corporation without complying with sec- tions 161 and 169, if ( a ) the amalgamation is approved by a resolution of the directors of each amalgamating corporation; and (b) the resolutions provide that (i) the shares of each amalgamating subsidiary corporation will be cancelled without any repayment of c... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA (ii) the articles of amalgamation will be the same as the articles of incorporation of the amalgamating holding corporation; and (iii) no securities will be issued by the amalgamated the i n connection with corporation amalgamation.
Horizontal short-... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Two or more wholly-owned subsidiary corpora- tions of the same holding body corporate may amalgamate and continue as one corporation without complying with sec- tions 168 and 169, if (a) the amalgamation is approved by a resolution of the directors of each amalgamating corporation; and (b) the resolutions provide that ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Articles of amalgamation.
- 172.
(1) Subject to subsection (6) of section 169, after an amalnamation has been adopted under section 169 or approved under section 170 or 17 1, articles of amalgama- tion in the prescribed form must be sent to the Director together with the documents required by sections 67 and 129. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) There must be attached to the articles of amalgama- tion a statutorv declaration of a director or an officer of each amalgamating corporation that establishes to the satisfaction of the Director LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222 95 (a) that there are reasonable grounds for believ- ing that (i) each amalgamating corporation is and the amalgamated corporation will be able to pay its liabilities as they become due; and (ii) the realisable value of the amalgamated cor- poration's assets will not be less than the aggregate of its liabilities an... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(3) For the purposes of subsection (2), adequate notice is given to creditors by a corporation, if (a) a notice in writing is sent to each known creditor having a claim against the corporation that exceeds one thousand dollars; (b) a notice is published once in a newspaper published or distributed in Antigua and Barbud... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
173.
(I) Upon receipt of articles of amalgamation, certificate amalgamation.
of the Director must issue a certificate of amalgamation.
(2) O n the date shown in a certificate of amalgama- tion, in respect of an amalgamated corporation, 96 CAP. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA (a) the amalgamation of the amalgamating corpora- tions and their continuance as one corporation becomes effective; ( 6 ) the property of each amalgamating corporation becomes the property of the amalgamated corporation; and (c) the amalgamated corpor... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
~e-organisation.
174.
(1) In this section, "re-organisation" means RE-ORGANISATION (a) a court order made under section 204; ( b ) a court order approving a proposal for re- organisation under section 288: or (c) a court order that affects the rights among the corporation, its shareholders and creditors.
(2) If a co... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(3) If the court makes an order referred to in subsec- tion ( I ) , the court may also (a) authorise the issue of debentures of the corpora- tion, whether or not convertible into shares of any class or series or having attached any rights or options to acquire shares of any class or series, and fix the terms thereof; a... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) After an order referred to in subsection (1) has been made, articles of re-organisation in the prescribed form must be sent by the corporation to the Director together with the documents required by sections 67 and 129, if applicable.
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 97 (5... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(6) A re-organisation of a corporation becomes effec- tive on the date shown in the certificate of amendment and its articles of incorporation are amended accordingly.
( 7 ) A shareholder of a corporation is not entitled to dis- sent under section 191 if an amendment to the articles of is effected under this section.
... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( a ) an amendment of the articles of a corporation; (b) an amalgamation of two or more corporations; ( 6 ) a division of the businesses carried on by a corporation; (4 a transfer of all or substantially all the property of a corporation to another body corporate in exchange for property, money or securities of the bod... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 2 ) For the purposes of this section a corporation is insolvent when (a) it is unable to pay its liabilities as they become due, or ( b ) the realisable value of the assets of the corpora- tion are less than the aggregate of its liabilities and stated capital of all classes.
98 CAP. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
98 CAP.
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA (3) Where it is not practicable for a corporation that is not insolvent to effect a fundamental change in the nature of an arrangement under any other provision of this Act, the corporation may apply to the court for an approval of an arrange... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) In connection with an application under this sec- tion, the court may make in any interim or final order it thinks fit, (a) an order determining the notice to be given to any interested person or dispensing with notice to any person other than the Registrar; ( b ) an order requiring a corporation, in such man- ner ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(5) An applicant under this section must give the Direc- tor notice of the application; and the Director may appear and be heard in person or by counsel.
(6) After an order referred to in paragraph (6) of subsec- tion (4) has been made, articles of arrangement in the prescribed form must be sent to the Director togeth... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
EXISTING OFF-SHORE COMPANIES 176.
(1) Subject to subsection (2), an existing off- shore company must, within one year after the commence- ment of this Act or any extended period granted under sec- tion 177, apply to the Director, by articles of continuance in the prescribed form, set out in Schedule 11, for a certific... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222 99 (2) An existing off-shore company ( a ) that carries on an international banking, trust or insurance business, or (b) that contains the word "bank", "banking" or any word or phrase suggesting that it is a bank or bank- ing institution, must, within six months after the commencement of this Act or within any exte... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(3) For the purposes of this Act, an existing off-shore company is a body corporate incorporated under the existing Act before the commencement of this Act whose objects or primary objects were or include the carrying on of an inter- national trade or business from within or outside Antigua and Barbuda.
177.
( 1 ) In... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
the application of an existing off-shore company made within the period prescribed under section 176 for it to apply for a certificate of continuance, extend the period under sec- tion 176 for a period not exceeding one year; and the court may if it thinks fit give directions regarding any changes necessary in the arti... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 2 ) Notice of an application under subsection ( 1 ) must be given to the Director and he may appear and be heard on the application in person or by counsel.
178.
Within the period referred to in section 176 any k~r",:::~, amendments to or re~lacement of the comorate instruments of an existing off-shore company must... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
100 CAP.
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA Articles of continuance.
Certificate of continuance.
Non-continuance effect.
179.
(1) Articles of continuance may, without so stating in the articles, effect any amendments to the corporate instruments of an existing off-shore company if... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) Articles of continuance must be accompanied with the documents required by sections 67 and 129.
( 3 ) A shareholder or member of an off-shore company may not dissent under section 191 in respect of an amend- ment made under subsection (1).
180.
Upon receipt of articles of continuance under section 176, the Direc... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
and, if the a ~ ~ l i c a n t com- , , plies with all reasonable requirements of the Director to have the proposed continued corporation accord with the requirements of this Act, the Director must, in accordance with section 327, issue a certificate of continuance of the existing off-shore company as a corporation cont... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
.
.
181.
When an existing off-shore company does not, within the period prescribed therefor under section 176, or as extended under section 177 in respect of the company, apply to the Director for a certificate of continuance for the company by an application that is sufficiently proper for the Director to give effe... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
CORPORATE MOBILITY Continuing imported corporations.
182.
( 1 ) A body corporate in another country may, by articles of continuance in the prescribed form, set out in Schedule 11, apply to the Director for a certificate of con- tinuance under this Act.
(2) Articles of continuance may, without so stating in the artic... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
: i LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 101 (a) is not permitted under the law applicable to the body corporate before continuance under this Act; and (6) is an amendment a corporation incorporated under this Act can make to its articles.
(3) Articles of continuance must be accom... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
183.
( I ) Upon receipt of articles of continuance, in Certjficate of respect of a body corporate from another country under sec- Continuance.
tion 182, the Director may issue a certificate of continuance in accordance with section 327. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 2 ) O n the date that the body corporate is continued as a corporation under this Act (a) the body corporate becomes a corporation to which this Act applies to the like extent as if it had been incorporated under this Act; (b) the articles of continuance are the articles of incorporation of the continued corporation;... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
184.
Subject to section 185, a corporation may, if Application for continuance.
it is authorised to do so under this section by the shareholders, apply to the appropriate official or public body of that other country requesting that the corporation be continued in that other country as if it had been incorporated und... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
185.
A corporation may not be continued as a body Conditions corporate under the laws of another country unless those laws p"cedent, provide in effect that (a) the rights, assets and property of the corpora- tion continue to be the property of the body corporate after discontinuance under this Act; (b) the body corpor... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA Import option. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(6) existing causes of action, claims and any liability to prosecution are not affected by the continuance under the laws of that other country; (6) a civil, criminal or administrative action or pro- ceeding pending by or against the corporation can be continued to be prosecuted by or against the body cor- porate after... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
186.
( 1 ) A body corporate of another country that has applied and been approved for continuance as a cor- poration under this Act may, upon payment of the annual fee for the kind of international trade or business it intends to carry on from within Antigua and Barbuda, request the Director to hold up the continuance... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 2 ) A registration under subsection (1) may be held for a period of one year from the date of its registration under that section after which period the application for continuance expires unless renewed for a further period of one year upon payment of the registration fee.
(3) After three renewals of an application... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) The instrument designating a trustee for the pur- poses of subsection ( 1 ) must set out the manner in which the trustee intends to notify the Director that the body cor- porate wishes to be continued under this Act and when notified in accordance with that instrument the Director must issue a certificate of contin... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222 103 (5) When, after a body corporate has been continued as a corporation under this section, the authorities of the country from which the body corporate made application for continuance under this Act request the Director to make an investigation of the corporation and any of its affiliates in accordance with Divi... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 6 ) When the Director believes that a request under subsection (5) is made without good cause, he may apply to the court for directions regarding the exercise of his duty under subsection (5).
(7) A notification from a designated trustee pursuant to this section is conclusive proof of the fact of notification and it... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
tion under section 184 to the appropriate authorities of another country for continuance as a body corporate of that other country and has applied to have the application registered and held up until a designated trustee notifies the authorities of that other country that the corporation has ceased to be a corporation ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) When the designated trustee notifies the authorities in the other country in accordance with the instrument of trust that the corporation has ceased to be a corporation under this Act, the corporation ceases to be a corporation under this Act with effect from the day immediately preceding the day that the trustee n... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
104 CAP.
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA ( 3 ) The notification of the designated trustee given pur- suant to subsection (2) is, for the purposes of section 327, articles that conform to law.
e EFFECT O F CONTINUATION Preservation of rights.
188. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
When a body corporate is continued as a cor- poration under section 180, 183 or 186, (a) the rights, assets and property of the body cor- porate continue as the rights, assets and property of the corporation; (6) the corporation continues to be liable for the obligations of the body corporate; (c) existing causes of ac... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(1) A share of a continued corporation issued before it was continued under this Act is presumed to have been issued in compliance with this Act and with the provi- sions of the articles of continuance, irrespective of whether the share is fully paid and irrespective of any designation rights, privileges, restrictions ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) For the purposes of this section, "share" includes an instrument issued pursuant to subsection (1) of section 35.
Various shares.
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 105 190.
( 1 ) Upon receipt of notice satisfactory to him discontinuance. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Effect of that a corporation that has made an application under sec- tion 184 has been continued as a body corporate of the other country, the Director must file the notice and issue a cer- tificate of discontinuance in accordance with section 3 2 7 .
~ ~ ~ ~ ~ ~ r , ( 2 ) O n the date shown in the certificate of disc... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 3 ) T h e notice described in subsection ( 1 ) is, for the purposes of section 3 2 7 , articles that conform to law.
DISSENTERS' RIGHTS AND OBLIGATIONS 191. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(1) Subject to sections 1 7 4 a n d 2 0 4 , a ~ shareholder of any class of shares of a corporation may dis- sent if the corporation resolves ( a ) to amend its articles under section 168 to add, change or remove any restriction upon the international trades or businesses that the corporation can carry on; (6) to amalg... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 2 ) Subject to sections 174 and 2 0 4 , a shareholder of any class of shares of a corporation may dissent if the cor- poration is subject to an order of the court under section 177 permitting the shareholders to dissent.
( 3 ) T h e articles of a corporation may ~ r o v i d e that a shareholder of any class or serie... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) I n addition to any other right he has, but subject to section 1 7 5 , a shareholder who complies with this section is entitled, when the action approved by the resolution from which he dissents or an order made under section 175 becomes effective, to be paid by the corporation the fair value 106 CAP. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA of the shares held by him in respect of which he dissents; and the fair value is to be determined as of the close of business on the day before the resolution was adopted or the order made.
(5) A dissenting shareholder may not claim under this sectio... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(6) A dissenting shareholder must send to the corpora- tion, at or before any meeting of shareholders of the cor- poration at which a resolution referred to in subsection ( 1 ) or (3) is to be voted on, a written dissent from the resolu- tion, unless the corporation did not give notice to the shareholder of the purpose... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(7) When a shareholder of a corporation has dissented pursuant to subsection ( 6 ) to a resolution referred to in subsection ( 1 ) or (3), the corporation must, within ten days after the shareholders of the corporation adopt the resolu- tion, send to the shareholder notice that the resolution has been adopted; but the ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
192.
( 1 ) A dissenting shareholder must, within twenty days after he receives a notice under subsection (7) of section 191 or, if he does not receive that notice, within twenty days after he learns that a resolution under that sec- tion has been adopted, send to the corporation a written notice containing ( a ) his n... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) A dissenting shareholder must, within thirty days after sending a notice under subsection ( I ) , send the cer- tificates representing the shares in respect of which he dissents to the corporation or its transfer agent.
Demand for payment.
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(4) A corporation or its transfer agent must endorse on any share certificate received by it under subsection (2) a notice that the holder of the share is a dissenting shareholder under this section and forthwith return the share certificate to the dissenting shareholder.
193.
After sending a notice under section 192... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
dissenting shareholder ceases to have any rights as a shareholder, other than the right to be paid the fair value of his shares as determined under this section unless (a) the dissenting shareholder withdraws his notice before the corporation makes an offer under section 194; ( b ) the corporation fails to make an offe... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
194.
(1) A corporation must, not later than seven offer to pay for share. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
days after the day on which the action approved by the resolu- tion is effective or the day the corporation received the notice referred to in section 192, whichever is the later date, send to each dissenting shareholder who has sent such a notice (a) a written offer to pay for his shares in an amount considered by the... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations ( 6 ) if subsection (3) of section 199 applies, a notification that it is unable lawfully to pay dissenting shareholders for their shares.
(2) Every offer made under subsection ( 1 ) for shares of the same class or series must be on the same terms. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(3) Su-bject to section 196, a corporation must pay for the shares of a dissenting shareholder within ten days after an offer made under subsection (1) has been accepted; but the offer lapses if the corporation does not receive an accep- tance of the offer within thirty days after it has been made.
195. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
195.
( 1 ) If a corporation fails to make an offer under subsection (1) of section 194, or if a dissenting shareholder fails to accept the offer made by the corporation, the cor- poration may, within fifty days after the action approved by the resolution is effective, apply to the court to fix a fair value for the sha... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) If a corporation fails to apply to the court in the circumstances described in subsection ( l ) , a dissenting shareholder may, within a further period of twenty days, apply to the court to fix a fair value for the shares of any dissenting shareholders.
Application to Court.
Joined parties.
196. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Application to Court.
Joined parties.
196.
Upon an application to the court under section 195, ( a ) all dissenting shareholders whose shares have not been purchased by the corporation are to be joined as parties and are bound by the decision of the court; and (6) the corporation must notify each affected dissen- ti... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
court powers.
197.
(1) Upon an application to the court under section 191, the court may determine whether any other per- son is a dissenting shareholder who should be joined as a party; and the court must then fix a fair value for the shares of all dissenting shareholders.
LAWS OF AVTIGUA AND BARBUDA International ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 3 ) The final order of the court must be made against the corporation in favour of each dissenting shareholder of the corporation and for the amount of the shares of the dissen- ting shareholder as fixed by the court.
198.
The court may allow a reasonable rate of interest Interest.
on the amount payable to each di... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
199.
(1) If subsection ( 3 ) applies, the corporation Recourse of must, within ten days after the making of an order under shareholder.
subsection ( 3 ) of section 197, notify each dissenting shareholder that it is unable lawfully to pay dissenting shareholders for their shares. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
dissenting (2) If subsection ( 3 ) applies, a dissenting shareholder, by written notice delivered to the corporation within thirty days after receiving a notice under subsection (I), ( a ) may withdraw his notice of dissent, in which case the corporation consents to the withdrawal and the shareholder is reinstated to h... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
( 3 ) A corporation shall not make a payment to a dissen- ting shareholder under section 194 if there are reasonable grounds for believing that (a) the corporation is or would, after the payment, be unable to pay its liabilities as they become due; or ( b ) the realisable value of the corporation's assets would thereby... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
200.
Iil this Part, (a) "action" means an action under this Act; ( 6 ) "complainant" means, in relation to a corporation, (i) a security holder, or a former holder of a security of the corporation or any of its affiliates; (ii) a director or an officer or former director or officer of the corporation or any of its aff... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
DERIVATIVE ACTIONS Derivative actions.
201.
Subject to section 202, a complainant may, for the purpose of prosecuting, defending or discontinuing an action on behalf of a corporation, apply to the court for leave to bring an action in the name and on behalf of the corpora- tion or any of its subsidiaries, or interven... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
NO action may be brought and no intervention in an action may be made under section 201 unless the court is satisfied (a) that the complainant has given reasonable notice to the directors of the corporation or its subsidiary of his intention to apply to the court under section 201 if the directors of the corporation or... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 111 203.
In connection with an action brought Or Court powers. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
intervened in under section 201, the court may at any time make any order it thinks fit including, without limiting the generality of the foregoing, ( a ) an order authorising the complainant, the Director or any other person to control the conduct of the action; ( b ) an order giving directions for the conduct of the ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
RESTRAINING OPPRESSION 204.
(1) A complainant may apply to the court for opprfssion restramed.
an order under this section. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) If, upon an application under subsection (I), the court is satisfied that in respect of a corporation or any of its affiliates, ( a ) any act or omission of the corporation or any of its affiliates effects a result, (b) the business or affairs of the corporation or any of its affiliates are or have been carried on ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
112 CAP. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA (3) In connection with an application under this sec- tion, the court may make any interim or final order it thinks fit, including without limiting the generality of the foregoing, ( a ) an order restraining the conduct complained of; ( b ) a n order ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 113 (4) If an order made under this section directs the amendment of the articles or by-laws of a corporation, (a) the directors must forthwith comply with subsection (4) of section 174; and (6) no other amendment to the articles or by-laws may ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(5) A shareholder is not entitled under section 191 to dissent if an amendment to the articles is effected under this section.
(6) A corporation shall not make a payment to a shareholder under paragraph V) or (g) of subsection (3) if there are reasonable grounds for believing that (a) the corporation is unable or woul... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(7) An applicant under this section may apply in the alternative for an order under section 301.
205.
(1) An application made or an action brought Staying action. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
or intervened in under this Part may not be stayed or dismissed by reason only that it is shown that an alleged breach of a right or duty owed to the corporation or its sub- sidiary has been or might be approved by the shareholders of the corporation or its subsidiary; but evidence of approval by the shareholders may b... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) An application made or an action brought or intervened in under this Part may not be stayed, discon- tinued, settled or dismissed for want of prosecution without the approval of the court given upon such terms as the court thinks fit; and, if the court determines that the interests of any complainant could be subst... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
222) International Business Corporations LAWS OF ANTIGUA AND BARBUDA any party to the application or action to give notice to the complainant.
Interim costs.
206. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Interim costs.
206.
In an application made or an action brought or intervened in under this Part, the court may at any time order the corporation or its subsidiary to pay to the com- plainant interim costs, including legal fees and disbursements; but the complainant may be held accountable for those interim costs upo... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
Rectification of records.
207.
(1) If the name of a person is alleged to be or to have been wrongly entered or retained in, or wrongly deleted or omitted from, the registers or other records of a corporation, the corporation, a security holder of the cor- poration or any aggrieved person may apply to the court for a ... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(2) An applicant under this section must give the Direc- tor notice of the application; and the Director is entitled to appear and be heard in person or by counsel. | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
(3) In connection with an application under this sec- tion, the court may make any order it thinks fit including, without limiting the generality of the foregoing, (a) an order requiring the registers or other records of the corporation to be rectified; (b) an order restraining the corporation from call- ing or holding... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
LAWS OF ANTIGUA AND BARBUDA International Business Corporations (CAP.
222 115 O T H E R REMEDIAL ACTIONS 208.
The Director may apply to the court for direc- Directions for Director.
tions in respect of any matter concerning his duties under this Act; and on the application the court may give such directions and make... | Democratic Participation | Electoral facilitation for women politicians and women voters | Antigua and Barbuda | https://docs-lawep.s3.us-east-2.amazonaws.com/1694878254353.pdf | http://laws.gov.ag/wp-content/uploads/2018/08/cap-222.pdf |
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