Entry of segments of a Protected Cell Company (PCC) in the Commercial Register

SCHEIBER Attorneys at Law represents a segmented stock corporation whose wish was to enter its segments in the commercial register.

SCHEIBER Attorneys at Law represents a segmented stock corporation whose wish was to enter its segments in the commercial register.

The reason for this is that one segment wanted to acquire a foreign property. However, the foreign land registry authority refused to enter the segment in the land register despite disclosure, as the segment was not an independent legal entity with an entry in the commercial register.

The Commercial Register Office rejected the request for registration on the grounds that the public interest did not justify registration.

An appeal against this decision has now been lodged with the Complaints Commission for Administrative Matters.

Its decision is expected shortly.