220 Companies which can be protected cell companies

(1) A company cannot be incorporated or continued as, or converted into, a
protected cell company, unless —
companies

(a) the company is (or when incorporated will be) licensed by the
Authority as a mutual fund under the Mutual Fund and Hedge
Fund Act;

(b) the company is (or when incorporated will be) an issuer of listed
securities subject to the listing rules of a Seychelles Securities
Exchange or recognised overseas securities exchange within the
meaning of the Securities Act; or

(c) the company is of any other description or carries on (or when
incorporated will carry on) such other activity as may be
approved by the Authority.