Reservation of name

(1) A registered agent may reserve a name with the Registrar provided such reservation is made in accordance with this section and is made in good faith for subsequent use in the formation of a limited liability company under this Act or for use in changing the name of a limited liability company already subject to this Act. A name may be reserved under Part VIII by a foreign limited liability company which has filed for a transfer of domicile to Belize. (2) An application to reserve a name shall be delivered to the Registrar together with the required fee. Such application shall set forth, (a) the name or names to be reserved in order of preference; (b) the name and address of the registered agent submitting the application; (c) whether the application is for a renewal of an already reserved name; (d) the type of business the limited liability company proposes to carry on, if any; (e) any derivation of the name to be reserved; (f) if the application is for a name change, the present name of the company; and (g) whether the application is for a foreign limited liability company that has filed for a (3) Provided the name to be reserved is available for use, the Registrar shall enter the name upon the reserved name list and issue a certificate of name reservation in the name of the applicant or in the name designated by the applicant. The certificate of name reservation shall set forth, (a) the information contained in the application therefor; (b) the date the name was entered upon the reserved name list, which date shall be the date of reservation; and (c) a statement that the certificate is non- transferable. (4) Commencing from the date of reservation, the name reserved will be maintained upon the reserved name list by the Registrar and shall not be used except by the person, in whose name the certificate of name reservation has been issued. Such reservation shall terminate upon the expiry of 90 days after date of reservation unless sooner renewed. Upon payment of the required fees, the reservation shall be renewed with the Registrar for no more than two periods of 90 days each. An 26 appropriate receipt for the required fees shall be presented along with the certificate of name reservation to be proof of the extension of the reservation. (5) The certificate of name reservation and any renewals thereof shall be submitted to the Registrar at the time the name reserved is utilised by the person, in whose name such certificate of name reservation has been issued. organisation.