New Step by Step Map For hong kong company secretary license
New Step by Step Map For hong kong company secretary license
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(three) If anyone will not give any respond to or offer any details or clarification in compliance using a need imposed under subsection (1) or segment 846 for The key reason why that The solution, details or explanation will not be throughout the person’s awareness or in the person’s possession, the inspector might, by observe in producing, even further require the person to confirm, in the time specified in that further more need, that cause and reality by a statutory declaration. (4) A statutory declaration pointed out in subsection (2) or (3) can be taken by the inspector. Portion: 849 Inspector may physical exercise powers in relation to affiliated system corporate
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(5) A change of title under this section would not have an effect on any legal rights or obligations from the company or render defective any lawful proceedings by or from it. Any lawful proceedings that might have been commenced or ongoing by or against it by its former title could possibly be commenced or continued by or from it by its new identify. (six) If a company contravenes subsection (2), the company, and each liable individual of your company, dedicate an offence, and every is liable to some good at stage 3 and, in the case of the continuing offence, to an additional fine of $three hundred for day after day all through which the offence carries on. Part: 108 Registrar may possibly direct company to change very same or identical name and so on.
L.N. 163 of 2013 03/03/2014 If a company can make a distribution consisting of or together with a non-cash asset, and any Section of the amount at which the asset is said while in the referential monetary statements signifies an unrealized financial gain, that Portion of that quantity will be to be considered to be a realized profit for the objective of deciding, in advance of or after the distribution, the lawfulness from the distribution in accordance with this Component.
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L.N. 163 of 2013 03/03/2014 (1) A registered non-Hong Kong company should supply a press release from the particulars of each specified charge established via the company on home in Hong Kong from the company, together with a Licensed copy in the instrument (if any) creating or evidencing the cost, into the Registrar for registration throughout the registration period of time laid out in subsection (6)(a). (2) Where by— (a) a specified demand developed by a registered non-Hong Kong company on assets in Hong Kong on the company— (i) is presented inside of a debenture forming Section of a series by reference to every other instrument made up of the cost (whether or not also contained in the debenture); or (ii) is contained in a debenture forming Component of a series (although not given while in the debenture by reference to any other instrument); and (b) every single holder with the debentures from the sequence is entitled Similarly to the advantage of the charge, the company would be to be regarded as owning complied with subsection (one) in relation to the desired charge Should the company provides a press release from the particulars of the demand, together with a Qualified duplicate of the instrument
Cap 622 - Businesses Ordinance 94 (Cap 32) (arrangement, when binding on creditors). Segment: 278 Principal goal exception L.N. 163 of 2013 03/03/2014 This Division doesn't prohibit a company from providing financial guidance for the objective of the acquisition of the share within the company or its holding company or for the purpose of cutting down or discharging a liability incurred for these types of an acquisition if— (a) both— (i) the company’s principal intent in supplying the aid is not to give it for the purpose of the acquisition of a share from the company or its holding company or for the purpose of reducing or discharging a liability incurred for this sort of an acquisition; or (ii) the giving of the help for the purpose of the acquisition of the share inside the company or its holding company or for the goal of minimizing or discharging a liability incurred for these types of an acquisition is simply an incidental A part of some bigger function in the company; and (b) the support is supplied in good religion from the interests of your company. Section: 279 Exception for money lending companies L.N. 163 of 2013 03/03/2014 Matter to section 282, this Division will not prohibit the lending of cash by a company inside the common course of enterprise if the lending of money is a component from the ordinary enterprise with the company. Portion: 280 Exception for personnel share techniques L.N. 163 of 2013 03/03/2014 (one) Topic to area 282, this Division would not prohibit— (a) the supplying by a company, in great faith in the pursuits in the company, of economic support with the functions of an employee share plan; or (b) the giving of financial help by a company for the functions of, or in reference to, just about anything done from the company or A different company in exactly the same team of organizations with the functions of enabling or facilitating transactions in shares from the company or its holding company amongst, and involving the acquisition of useful possession of Those people shares by— (i) people utilized or formerly used in excellent faith by that company or another company in the same team of businesses; or (ii) spouses, widows, widowers, or insignificant little ones of folks referred to in subparagraph (i).
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L.N. 163 of 2013 03/03/2014 (one) If, each time a administrators’ report ready by the directors of a company is approved in accordance with portion 391, a permitted indemnity provision (irrespective of whether produced by the company or in any other case) is in pressure for the good thing about a number of administrators of your company, the report must condition which the provision is in force. (two) If, at any time over the financial year to which a administrators’ report prepared by the administrators of the company relates, a permitted indemnity provision (no matter whether created by the company or in any other case) was in force for the advantage of a number of individuals who ended up then directors of your company, the report have to state the provision was in force. (3) If, whenever a directors’ report ready by the administrators of a company is accredited in accordance with section 391, a permitted indemnity provision produced by the company is in pressure for the good thing about one or more administrators of an associated company from the company, the report need to point out which the provision is in force.
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(3) An officer or personnel of the physique corporate on which a necessity is imposed under portion 873 commits an offence Should the officer or worker, with intent to defraud, causes or enables the human body corporate to fall short to comply with the requirement.
Cap 622 - Organizations Ordinance 99 created off in a reduction or reorganization of funds; or (b) another reserve which the company is prohibited from distributing by an Ordinance (apart from this Portion) or by its articles. (2) In paragraph (a) of the definition of undistributable reserves in subsection (one), a reference to capitalization excludes a transfer of profits in the company to its money redemption reserve on or soon after one September 1991. (3) Within this Component— (a) a reference to income of any certain description is really a reference to profits of that description produced Anytime; and (b) a reference to losses of any distinct description can be a reference to losses of that description manufactured Anytime. (4) For your reasons of the Aspect, any fiscal statements are referential economic statements if the distribution in dilemma is produced pursuant to determinations produced by reference to money things as mentioned from the monetary statements below portion 302. Area: 291 Understood income and losses L.N. 163 of 2013 03/03/2014 (one) In this Component, a reference to realized income or realized losses of a company is actually a reference to People earnings or losses with the company that are considered recognized revenue or understood losses for the objective of any economical statements prepared by the administrators in accordance with rules frequently recognized, at some time if the money statements are organized, with regard to the resolve for accounting purposes of recognized income or realized losses. (two) Subsection (one) will not influence any distinct provision (no matter if within an Ordinance or otherwise) underneath which gains or losses of any description are formation company jewellery viewed as realized. (3) If, following creating all sensible enquiries, a company’s directors are not able to determine whether or not a specific profit or reduction produced before one September 1991 is understood, They might deal with the earnings as understood, plus the decline as unrealized, to the purposes of this Section.
(two) Absolutely nothing On this Subdivision affects any provision of the company’s article content authorizing the company to go a resolution without a Assembly, usually than in accordance using this Subdivision. (3) Subsection (two) applies only if the resolution continues to be agreed to by the many customers with the company who're entitled to vote about the resolution.
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