A Guernsey Protected Cell Company is a company that is a single legal entity with separate and distinct cells. Each cell can, if required, issue its own shares and pay dividends in relation to the assets and liabilities it holds which are segregated by law from those in the other cells.
The PCC itself (the core) is a single legal entity but the cells of the PCC do not have separate legal personality. It is therefore the core that will contract on behalf of a cell. A PCC has a single registered office and one board of directors.
The written consent of the GFSC must be obtained before a PCC can be incorporated.