Repeal means COBO consent is not required for borrowings by Guernsey companies
Prior to 27 February 2013, consent from the Guernsey Financial Services Commission pursuant to the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959, as amended (more commonly referred to as COBO) was required for certain transactions where money was borrowed in the Bailiwick of Guernsey and for certain capital raising transactions. COBO created additional and unnecessary regulatory requirements within financing or refinancing arrangements and where on-lending applied within group contexts…
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