5 SIMPLE STATEMENTS ABOUT HONG KONG COMPANY SECRETARY CHECKLIST (2ND EDITION) EXPLAINED

5 Simple Statements About hong kong company secretary checklist (2nd edition) Explained

5 Simple Statements About hong kong company secretary checklist (2nd edition) Explained

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Examples— one. A company may possibly extinguish or decrease the liability on any of its shares in regard of share cash not paid up. two. A company may well, possibly with or without having extinguishing or reducing liability on any of its shares— (a) terminate any compensated-up share capital that may be missing or unrepresented by out there belongings; or (b) repay any paid out-up share money in excess on the company’s desires. (two) Even so, a company have to not cut down its share money if, on account of the reduction, there would no more be any member of your company holding shares other than redeemable shares. (three) This Division is topic to any provision of a company’s articles or blog posts that prohibits or restricts the reduction from the company’s share money. Portion: 211 Procedure to get a company to lessen its share capital L.N. 163 of 2013 03/03/2014 The procedure for a company to reduce its share cash less than this Division is— (a) by Exclusive resolution supported by a solvency assertion under Subdivision two; or (b) by Particular resolution verified from the Courtroom beneath Subdivision three. Portion: 212 Offence if share capital is diminished in contravention of Division

(one) An software may very well be built under portion 163 to get a new share certificate no matter whether the initial certification was misplaced ahead of, on or once the commencement day* of that area, Except if an software to get a new certification had by now been produced below portion 71A of the predecessor Ordinance in advance of that commencement day*.

A see that was served less than segment 337B from the predecessor Ordinance, as in power quickly ahead of its repeal, and that was in force quickly prior to the commencement date of Division four of Aspect 16, continues in drive and it has result like it have been a notice served underneath segment 780. 136. Recognize of cessation of company formation fees location of business in Hong Kong

The company secretary is often a company agent who will report to the businesses Registry any change from the structure of a company and its essential personnel knowledge (i.e. its administrators and shareholders).

You must give the Articles or blog posts of Association and incorporation form for the registry of businesses. 

(2) If a company’s auditor is in the viewpoint that the knowledge in the directors’ report for your money year is just not in line with the money statements for your monetary calendar year, the auditor— (a) have to state that opinion within the auditor’s report; and (b) might carry that opinion into the customers’ attention at a standard Conference.

(2) Acceptance can be given for a particular training of the ability or for its exercising generally, and will be unconditional or subject to problems.

(3) If new shares are issued by a company within the phrases that, inside of a time period not exceeding twelve months, they can rank equally for all reasons with all the existing shares, or with all the present shares of a certain course, within the company, neither the new shares nor the corresponding present shares are needed to have distinguishing figures assuming that all of them are fully paid out up and rank Similarly for all needs. (four) If subsection (3) applies as well as shares will not be numbered, any share certificates for The brand new shares should be correctly worded or enfaced. Section: 137 Share certification for being evidence of title within the absence of Opposite evidence

(three) If, in relation to an software to the needs of subsection (two), a document demonstrating the rectification is delivered to the Registrar for registration, the Registrar may rectify the mistake by registering the document. Area: 42 Registrar need to rectify information on Companies Sign-up on purchase of Courtroom

(two) The Court may well alleviate the desired individual, possibly wholly or partly, in the liability on any conditions which the Court docket thinks in shape. (three) If the situation is tried by a choose which has a jury, the judge might— (a) withdraw the case in full or partially with the jury; and (b) direct judgment to generally be entered for the specified human being to the phrases as to costs or otherwise the judge thinks fit.

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Area 351B with the predecessor Ordinance, as in pressure promptly before its repeal, proceeds to apply in relation to an application designed ahead of the commencement date* of area 897 with the uses of that part.

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