Protected cell companies

(1) It shall be lawful, subject to the provisions of this Act, (a) to incorporate a company which shall be a protected cell company; and (b) to convert an existing company, if so authorized by its articles, into a protected cell 7 (2) For the avoidance of doubt, and notwithstanding that a protected cell company may have created one or more cells pursuant to the provisions of this Act, (a) a protected cell company is a single legal person; and (b) the creation of a protected cell does not create, in respect of that cell, a legal person separate from the company.