hong kong company secretary requirements - An Overview
hong kong company secretary requirements - An Overview
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seven. An annual return under portion 662(three) have to be accompanied by— (a) copies of the paperwork required to be despatched to every member from the company underneath portion 430, certified by a director or company secretary of your company to become real copies; and (b) if any on the files pointed out in paragraph (a) is in a language besides English or Chinese, a Licensed translation (to get annexed to that doc) in English or Chinese of your document. Plan: seven Offences in regard of which Proceedings not Instituted beneath Selected Circumstances
(3) This section isn't going to implement to the supplying of monetary assistance by a company for the goal of the acquisition of a share in its holding company or for the purpose of cutting down or discharging a liability incurred for this kind of an acquisition if the Keeping company is actually a company incorporated outside Hong Kong. (4) If a company contravenes subsection (1) or (2), the company, and each dependable particular person from the company, commit an offence, and each is liable to some good of $150000 and to imprisonment for 12 months. Portion: 276 Failure to comply with Division will not have an impact on validity of monetary guidance, etcetera.
Cap 622 - Businesses Ordinance 106 (a) the company’s registered Place of work; or (b) an area prescribed by polices designed underneath section 657. (2) A company need to notify the Registrar on the location at which the sign up of debenture holders is retained. The see has to be in the required kind and delivered to the Registrar for registration in fifteen days following the register is initially kept at that place. (3) A company have to notify the Registrar of any change (besides a change on the address of the company’s registered Business) from the place at which the register of debenture holders is kept. The notice needs to be in the required type and shipped to the Registrar for registration in just fifteen days following the change. (four) Subsection (2) does not need a company to notify the Registrar from the area at which the register of debenture holders is held— (a) if, in the case of a sign up that came into existence on or after the commencement day* of the Division, it has continually been stored in the company’s registered Business; or (b) if— (i) promptly just before that commencement day*, the company kept a sign-up with the reasons of segment 74A from the predecessor Ordinance; and (ii) on and following that commencement day*, that sign up is held like a register of debenture holders for your needs of portion 308(one) at the location at which it absolutely was saved quickly before that commencement date*.
Cap 622 - Organizations Ordinance 355 complete income or belongings— (a) is always to be calculated by aggregating the full revenue or belongings (as the case might be) of every company inside the team, as will be reflected while in the company’s yearly economic statements or once-a-year consolidated economical statements for the economic yr If your team were being qualified as a group of compact non-public businesses, providers (as the case may very well be); and (b) should be to be calculated on The premise that the established-offs along with other changes for transactions involving companies from the team are produced. (3) For your purposes of area 1(nine), one(twelve) and (14)(b) of the Schedule, the aggregate degree of the team’s whole income or property— (a) is usually to be calculated by aggregating the overall earnings or property (as the case might be) of every company while in the group, as reflected inside the company’s yearly money statements or once-a-year consolidated financial statements for the fiscal calendar year; and (b) is always to be calculated on The premise which the established-offs and also other changes for transactions concerning companies in the team are already manufactured.
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Cap 622 - Businesses Ordinance 369 directors. (three) A reference to share premium is a reference to any residual share capital in relation to the share. (4) A reference to a appropriate to some return of cash with a share is actually a reference to your correct to your return of funds of a worth equivalent to the quantity paid in respect in the nominal price of the share. (5) A reference to a distribution inside a winding up in proportion to your money paid up over a share is usually a reference to a distribution inside a winding up in proportion to the amount paid out in respect in the nominal value of the share. (6) A reference for the aggregate par or nominal price of the company’s issued share funds is often a reference to that mixture as it existed right away prior to the commencement day* of segment a hundred thirty five and— (a) amplified to take account from the nominal price of any shares issued on or after that commencement date*; and (b) reduced to choose account of your nominal worth of any shares cancelled on or following that commencement day*.
leg. C), as in force instantly in advance of its repeal, proceeds to use in relation to your petition to verify an alteration inside a memorandum introduced under portion 8 with the predecessor Ordinance having a continuing result less than subsection (one). seven. Alteration of specified circumstances of memorandum of association
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Cap 622 - Companies Ordinance 68 company. Section: 195 Team reconstruction reduction L.N. 163 of 2013 03/03/2014 (1) This portion applies if an issuing company— (a) is a wholly owned subsidiary of Yet another company (the Keeping company); and (b) challenges shares— (i) for the holding company; or (ii) to a different wholly owned subsidiary from the holding company, in consideration for the transfer to the issuing company of formation company jewellery non-money assets of the company (the transferor company) That could be a member of the team of corporations that comprises the holding company and all its wholly owned subsidiaries. (two) Any excess of the worth with the assets transferred more than their Web base worth could be disregarded when recording as share funds of the issuing company the level of consideration for the issue through the issuing company of its shares. As a result, the minimal volume of thing to consider needed to be recorded as share cash of the issuing company in regard in the shares issued for that transfer is The online foundation value of the property transferred. (three) The net base worth of the belongings transferred is the amount by which the base value of the assets transferred exceeds The bottom price of any liabilities on the transferor company assumed with the issuing company as consideration with the assets transferred. (4) To the purposes of this portion— (a) the base price of assets transferred may be the lesser of— (i) the cost of People assets on the transferor company; (ii) the amount at which Individuals assets are stated while in the transferor company’ s accounting information immediately prior to the transfer; (b) The bottom worth of liabilities assumed is the amount at which They can be said inside the transferor company’s accounting data straight away before the transfer. Area: 196 Merger relief L.N. 163 of 2013 03/03/2014 (1) This segment applies if an issuing company has secured at the very least a ninety% equity holding in One more company beneath an arrangement supplying for The problem of fairness shares in the issuing company on phrases the thought for that shares issued is always to be furnished— (a) by The difficulty or transfer for the issuing company of equity shares in the other company; or (b) from the cancellation of any equity shares in one other company not held via the issuing company.
(3) Inspite of subsection (1), In case the nominal quantity or nominal worth of a share is altered on or after the commencement date* of segment a hundred thirty five below a continuing provision, a reference inside of a continuing provision for the nominal volume or nominal worth of the share is really a reference for the nominal amount or nominal value as so altered. Part 5
Segment 351B of the predecessor Ordinance, as in power immediately just before its repeal, proceeds to use in relation to an software designed before the commencement day* of area 897 with the functions of that portion.