Draft subsidiary legislation, the BVI IAC Rules, have been circulated for private sector comment, but not yet brought into force.
Under the law at the time, this limited the ability of a minority shareholder to seek relief from the courts on the basis of a just and equitable winding-up.
However the British Virgin Islands court retain jurisdiction to give interim relief to support the arbitration process where required.
[9] The British Virgin Islands International Arbitration Centre (usually referred to as the "BVI IAC") provided for under the legislation is to officially open on 17 November 2016.
The inaugural board of the BVI International Arbitration Centre included Mr. John Beechey (Chairman), Mr. Mark Forte, Mr. Cherno Jallow, QC, Mr. Murray Smith and Ms. Felice Swapp.