To provide for the incorporation or conversion of a protected cell company whereby cells may be created for the purpose of segregating and protecting the assets of one cell from the assets of another cell.
- A protected cell company shall be treated as a single legal person.
- The name of such a company must include the words’ protected cell company or the abbreviation “PCC”.
- Each protected cell shall have its own distinct name or designation.
- A PCC may only be incorporated as such if it is an authorized mutual fund or registered to conduct international insurance business.
- Full provisions for receivership and administrative orders.