Act No. 6490 (24th Legislature)
ACT NO.6490 BILL NO. 24-0187 TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS OF THE UNITED STATES Regular Session 2001 To amend title 13, Virgin Islands Code, to create a Virgin Islands Foreign Sales Corporation (VIFSC), to repeal sections 53la through 531d of title 13, and for other related purposes ---0--- BE IT ENACTED by the Legislature of the Virgin Islands: SECTION 1. Title 13, Virgin Islands Code is amended in the following instances: (a) The last sentence of subsection (a) of section 371 is amended to read as follows: “The reporting requirements of paragraphs (2) and (3) of this subsection shall not apply to a VIFSC as defined in chapter 12 of this title.” (b) Subsection (a) of section 530 is amended to read as follows: “(a) As used in this chapter: V1. foreign sales corporation’ and ‘VIFSC’ have the same meanings as those contained under chapter 12 of this title.” 2 (c) Subsection (a) of section 531 is amended by deleting the words “foreign sales corporation or former FSC” in the second sentence and inserting “V.I. …
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