Definition of Data

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Main Focus of Document

To facilitate e-business activities by international companies

Target Beneficiaries or Sector

international companies

Key Elements

Makes provision for the recognition of e-contracts. Some notable components include:

2. Meaning of cyber suite 
 (1) A cyber suite is an account established and maintained by a company as a cyber suite account. 
 (2) A cyber suite is to be treated for all purposes as a separate legal entity, except as expressly provided by the regulations made under this Act. 
 (3) A cyber suite has the capacity to contract with another cyber suite. 
 
3. Meaning of cyber suite contract 
(1) A cyber suite contract, in relation to a cyber suite, means a contract made between a company and a cyber suite proprietor regulating the rights and obligations of the company and the cyber suite proprietor in relation to the cyber suite. 
 (2) Without limiting subsection (1), a cyber suite contract may: (a) stipulate the voting and economic rights in relation to the cyber suite; and (b) provide for the issue by the company or the cyber suite proprietors of any class of equity or debt; and (c) provide for the disbursement of funds into a cyber suite proprietor’s separate account; and (d) provide that voting and economic rights can be exclusive or non-exclusive. 

4. Company’s capacity in relation to electronic business and cyber suite contracts 
(1) A company may enter into a cyber suite contract or an electronic business contract with any person. 
(2) Despite any statutory provision or other law to the contrary: (a) a company has the capacity to carry on electronic business; and (b) a company has the capacity to enter into and perform its obligations under any electronic business contract or cyber suite contract; and (c) no electronic business contract or cyber suite contract entered into by a company is voidable or unenforceable by reason only that at the relevant time any other party to the contract lacked capacity to be a party to it.

6. Legal recognition of cyber suite contracts and electronic business accounts 
 A cyber suite contract or an electronic business contract entered into by a company or cyber suite proprietor is not to be denied legal effect, validity, enforceability or admissibility into evidence solely on the ground that it is in the form of an electronic record. 
 
7. Laws of Vanuatu apply to cyber suite contracts and electronic business accounts
Despite any other Act or law to the contrary, any cyber suite contract or electronic business contract entered into by a company or cyber suite proprietor is taken to be formed in Vanuatu and is to be governed by the laws of Vanuatu unless the parties to the contract expressly provide otherwise. 

8. Electronic business  
The electronic business carried on by a company is to be recorded, allocated or credited to and maintained in: 
 (a) the e-business account; or 
 (b) a cyber suite in accordance with the relevant cyber suite contract.  
  
15. Data protection officer  
(2) A company must appoint a person with appropriate qualifications and experience as its data protection officer who is responsible for ensuring the company complies with such approved codes of conduct or standards. 

Policy/Regulation Mirrors

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