Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 220

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 220
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 at common law so that no retrial of the issues
would be necessary provided that (i) the court issuing the judgment is of competent jurisdiction; (ii) the judgment is final and conclusive
and for a liquidated sum, (iii) the judgment given was not in respect of taxes or a fine or penalty or similar fiscal or revenue obligation
of the company; (iv) in obtaining the judgment there was no fraud on part of the person in whose favor judgment was given or on part
of the court; (v) recognition or enforcement of the judgment would not be contrary to public policy in the Cayman Islands; and (vi) the
proceeding pursuant to which judgment was obtained were not contrary to natural justice. A Cayman Islands Court may stay enforcement
proceedings if concurrent proceedings are being brought elsewhere.

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Special Considerations for Exempted Companies. We are an exempted company with limited liability
(meaning our public shareholders have no liability, as members of the Company, for liabilities
of the Company over and above the amount paid for their shares) under the Companies Act.
The Companies Act distinguishes between ordinary resident companies and exempted companies.
Any company that is registered in the Cayman Islands but conducts business mainly outside
of the Cayman Islands may apply to be registered as an exempted company. The requirements
for an exempted company are essentially the same as for an ordinary company except for the
exemptions and privileges listed below:

| ● | annual reporting requirements are                                                                                                   
 minimal and consist mainly of a statement that the company has conducted its operations mainly outside of the Cayman Islands and    
 has complied with the provisions of the Companies Act;                                                                              |
| ● | an exempted company’s register                                                                                                      
 of members is not open to inspection;                                                                                               |
| ● | an exempted company does not have                                                                                                   
 to hold an annual general meeting;                                                                                                  |
| ● | an exempted company may not issue                                                                                                   
 negotiable or bearer shares, but may issue shares with no par value;                                                                |
| ● | an exempted company may obtain an                                                                                                   
 undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance); |
| ● | An exempted company may register by                                                                                                 
 way of continuation in another jurisdiction and be deregistered in the Cayman Islands;                                              |
| ● | an exempted company may register as