Company Act revisions
Watson Farley & Williams has assisted the Liberian International Ship and Corporate Registry in developing revisions to the
Liberian Business Corporation Act (BCA) and the Limited Liability Company (LLC) Act. The legislation was revised in an effort
to continue to make those laws more liberal, customer friendly and reflective of the corporate laws and standards of the state
of Delaware and other US states. The revisions include, among other matters, adoption of non-statutory law of Delaware and
other US states with substantially similar legislative provisions to interpret the BCA and adoption of non-statutory law of
Delaware to interpret the LLC Act; eliminating the requirement of two officer’s signature on filing documents; enabling acknowledgement
of filing documents outside Liberia without notarization and apostille; codifying practices of electronic submission of filing
documents, provision of shareholders’ and directors’ consent via electronic transmission, etc; and introducing a variety of
provisions applicable to public companies.
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