5 Simple Techniques For hong kong company secretary's practice manual
5 Simple Techniques For hong kong company secretary's practice manual
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A company secretary is usually described as the company’s govt, whose Major part is to make certain the organization and its operations adjust to all statutory rules and restrictions established inside the Hong Kong Providers Ordinance.
L.N. 163 of 2013 03/03/2014 (1) The Registrar should make the Companies Sign-up readily available for public inspection whatsoever realistic times in order to empower any member of the general public— (a) to determine if the member of the general public is working with— (i) a company to which this subsection applies, or its administrators or other officers, in matters of or connected with any act from the company; (ii) a director or other officers of such a company in matters of or related Along with the administration in the company, or of its house; (iii) someone in opposition to whom a disqualification buy continues to be produced by a courtroom;
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L.N. 163 of 2013 03/03/2014 (1) If a registered non-Hong Kong company is served using a notice below segment 780(1) for the corporate title or for an authorized title in relation to some corporate name, the company may perhaps utilize, in composing, to your Registrar for approval of another title, in relation to your corporate name, less than which the company is to carry on organization in Hong Kong. (2) An application needs to be shipped to the Registrar. (three) On receiving an software for approval of a reputation, the Registrar have to approve the title Unless of course satisfied that the title— (a) is similar to or is too like— (i) a name that appears, or should have appeared, inside the Index of Company Names; or (ii) the name of a system corporate incorporated or set up beneath an Ordinance; or (b) presents so misleading a sign of the character of your registered non-Hong Kong company’s actions in Hong Kong as to become very likely to bring about damage to the general public.
No, It isn't legal to do so. Businesses situated in Hong Kong are needed to appoint a company secretary under the businesses Ordinance. The secretary have to are now living in Hong Kong and be not less than 18 yrs of age to qualify.
Remarks: Not however in Procedure (1) The Courtroom might make an get for that disclosure through the Registrar of the shielded address— (a) if— (i) There exists proof which the service of files at the pertinent correspondence address of the director will not be effective to deliver them for the observe of your director; or (ii) it is necessary or expedient for that secured deal with to generally be disclosed in connection with the
L.N. 163 of 2013 03/03/2014 (1) Without the prescribed acceptance of its associates, a specified company ought to not— (a) come up with a loan or quasi-mortgage to an entity linked using a director in the company; or (b) provide a promise or present stability in reference to a personal loan or quasi-personal loan created by any person to an entity linked with such a director. (2) With no prescribed approval of its associates as well as the prescribed acceptance from the holding company’s customers, a specified company have to not— (a) produce a personal loan or quasi-loan to an entity connected using a director of the holding company with the company; or (b) give a promise or deliver protection in connection with a financial loan or quasi-bank loan produced by anyone to an entity related with this kind of director.
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Segment 57C of the predecessor Ordinance, as in force quickly before its repeal, continues to use to shares purportedly issued or allotted prior to the commencement date* of portion 146. 21. Permitted commissions
Cap 622 - Corporations Ordinance 111 ample proof with the grant of probate of the will or letters of administration of the deceased person the output into the company of the doc that may be by legislation enough evidence of that grant. Part: 326 Form of sign-up of holders of debentures kept below instrument produced by company
(three) A letter has to be resolved— (a) to a certified consultant of your registered non-Hong Kong company whose essential particulars are shown in the businesses Sign-up; or (b) if no essential facts of approved representatives of the company are revealed in the Companies Register, to any place of business proven via the company in Hong Kong. (four) The Registrar is not needed to mail a letter to your registered non-Hong Kong company underneath subsection (2)(a) If your Registrar is with the view the letter is not likely to be acquired because of the company. Section: 798 Registrar might strike off registered non-Hong Kong company’s identify
(three) A company is just not needed to provide a notice underneath this segment in relation to an alteration of share funds involving an allotment of shares. Take note— For an allotment of shares, area 142 needs a company to provide a return of the allotment for the Registrar for registration. (4) If a company contravenes subsection (1), the company, and each accountable person of the company, commit an offence, and every is liable to some high-quality at amount four and, in the situation of the continuing offence, to an additional good of $seven hundred for every single day for the duration of which the offence carries on. Part: 172 Redenomination of share cash L.N. 163 of 2013 03/03/2014 (1) A confined company may possibly, by resolution of the company, convert its share cash or any class of shares from a single currency to a different forex. This is called a redenomination. (2) A resolution under this segment may perhaps authorize a limited company to redenominate its share funds— (a) on multiple occasion; (b) in a specified time or in specified conditions. (3) A redenomination would not have an effect on any legal rights or obligations of associates underneath the company’s content articles, or any constraints affecting customers under the company’s articles. (four) In particular, it doesn't have an effect on any entitlement to dividends (together with entitlement to dividends in a selected currency), voting legal rights or legal responsibility in respect of quantities remaining unpaid on shares (like liability in a certain forex). (5) With the applications of this section, the company’s posts involve the phrases on which any shares inside the company are allotted or held. (six) A confined company’s content may possibly exclude or limit the exercise of a power conferred by this segment.
(7) If a human body corporate can be a member of a Keeping company of your body corporate, subsection (one) does not stop the body corporate from accepting or Keeping even more shares during the Keeping company if Individuals shares are allotted to the body corporate as absolutely paid up as a consequence of a capitalization of reserves or earnings with the holding company. (eight) If a company makes a proposal of shares to its users, the company— (a) might sell, on behalf of any of its subsidiaries, any this sort of shares that the subsidiary could, but for this section, have taken by virtue of shares from the company that happen to be already held via the subsidiary; and (b) may well formation company in bulgaria shell out towards the subsidiary the proceeds on the sale. (9) Even though a entire body corporate can be a member of a holding company of your body corporate, it's got no appropriate to vote at — (a) conferences on the holding company; or (b) meetings of any class of customers from the Keeping company. (10) Subsection (9) doesn't use if your body corporate is this type of member inside the circumstances described in subsection (two). (eleven) In this particular area, a reference to the physique corporate includes a nominee for the body corporate. (12) During this portion, a reference to shares, in relation to the Keeping company that is a company restricted by promise or an unlimited company, includes the desire of the company’s associates, whatever the kind of the fascination and if the company has a share money. Area: 114 Notifying Registrar of rise in variety of users of company limited by assure
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