s 14
(1) Subject to this Act, a trust company or any other Formation person may, by subscribing its or his name to a memorandum and complying with the requirements as to registration, form companies an offshore company for any lawful purpose. (2) If a subscriber to a memorandum is a corporation or a trust company, the memorandum may be subscribed by the corporation or the trust company, as the case may be, under its seal or by some person duly authorized on its behalf. (3) Every offshore company shall be a company limited by shares.