Effect on financial reporting under the new companies ordinance the new companies ordinance is a comprehensive rewrite of the old companies ordinance cap. Nonprivate company limited by guarantee without a share capital 5. How to inherit shares in a hong kong company and enforce. Provided that in respect of a share or shares held jointly by several persons the company shall not be bound to issue more than 1 certificate, and delivery of a certificate. Hong kong rewrites its companies ordinance chapter 32 of the. Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid shares or partly in one way. Near apple, lemon, 2, false means to find documents having apple within 2 words apart from lemon. Short title 12 division 2 interpretation and 6shfl. The purposes for which the company was established are. With the current laws of hong kong available on the web, the historical laws of hong kong online. Prior to 2012 cap 32 was called the companies ordinance, but when the companies ordinance cap 622 came into force in 2014, most of.
Hong kong thomas so and wilson fung1 i overview i sources of law ordinances a securities and futures ordinance cap. A practical introduction to the new companies ordinance cap. Historical laws of hong kong online companies ordinance. Registrar may agree to delivery by electronic means for. The core provisions affecting the operation of companies under the old co have been. Regulations subsidiary legislation under the sfo, in particular. Pdf file under the file name exemptions extracted pages. Section 50, bankruptcy ordinance extended application to companies by section 266b, cwupmo fraudulent conveyance section 60, conveyancing and property ordinance avoidance of floating charge section 267, cwumpo. According to cap 622 companies ordinance, section 153, if the deceased was the holder of. Under section 351, an officer who is in default means any officer who knowingly and wilfully authorises or permits the default or contravention of the old co. Documents related to the assets and liabilities of the estate i. Aug 17, 2012 companies ordinance of hong kong cap 32 the companies ordinance. The companies winding up and miscellaneous provisions ordinance cap 32 the securities and futures ordinance cap 571 the role of subordinate legislation, including. If you want us to send it to you as pdf or hardcopy, please contact us.
Hong kong rewrites its companies ordinance hong kong rewrites its companies ordinance chapter 32 of the laws of hong kong to enhance corporate governance, ensure better regulation, facilitate business and modernize its company law the new companies ordinance on july 12, 2012, the companies bill was passed by the hong kong legislative council. Under the old law, companies were also required to set out in their memorandum of association their authorized share capital and the par value of their shares. Briefing notes on part 16 of the new companies ordinance. The sfc subsequently commenced proceedings in the cfi under section 2 of the sfo seeking the following orders. The upper portion is for cap and the lower portion is for the parents or guardians reference. The structure, importance and evolution of the companies ordinance other notable related legislation including. Registrar may specify requirements for section 311 a3425 33. Companies winding up and miscellaneous provisions ordinance cap 32 pdf.
Accounting reference period is the term used in the new hong kong companies ordinance cap. The bar has the following comments on the proposed amendments to the new companies ordinance cap. An ordinance to reform and modernize hong kong company law, to restate part of. If you want to match the order of words, specify near apple, lemon, 2, true a percent sign % can be used to match zero or more characters. For now, the provisions relating to the winding up and insolvencyrelated regime and the public offerprospectus regime will remain in the current co, which will be retitled the companies winding up and miscellaneous provisions ordinance. An evaluation of current proposals to amend companies ordinance cap. Documents to be deposited with registrar of companies. Types of companies that can be formed under the companies ordinance s. Companies winding up and miscellaneous provisions ordinance cap.
Cap 32 companies winding up and miscellaneous provisions ordinance. Under section 522 of bo, an individual or a company with whom a deposit or a credit balance of an undischarged bankrupt is maintained is under a duty i forthwith to inform or and the trustee in the bankruptcy of the existence. Comments on the proposed amendments to the new companies ordinance cap. To be completed by the cadet with assistance from local leaders or activity hosts. Hong kong insolvency law regulates the position of companies which are in financial distress. Commencement this notice comes into operation on 1 february 2011. Briefing notes on part 1 of the new companies ordinance. For reference only proposed new schedule 9a to the companies. Apple is good means to find documents having the exact phrase apple is good. Please also see section 98 of the companies ordinance cap. The historical laws of hong kong online is a fulltext image database providing access to past revised editions of hong kong laws.
Cap 32 companies ordinance 2 court means the court of first instance. Replacing the formulation of officer who is in default with responsible person to strengthen the enforcement regime section 3 position under the companies ordinance cap. Ordinance and continuing in existence under section 3 of the securities and futures ordinance companies ordinance the companies ordinance cap. The new companies ordinance highlights of some major. The companies ordinance chapter 32 company limited by guarantee and not having a share capital articles of association of the asian studies association of hong kong limited preliminary the articles contained in table c of the first schedule of the companies ordinance chapter 32 shall not apply to the association. Companies ordinance gazette number version date long title. Download pdf download word introduction key changes the new companies ordinance cap. Comments on the proposed amendments to the new companies. While section 465 of the companies ordinance does not apply directly to the. The amendment ordinance was drafted with the aims to. The database comprises a total of seven consolidations of the laws of hong kong. We would like to show you a description here but the site wont allow us. Ordinance more than three times in five years cap 32 companies winding up and.
In part 16, there are no substantive changes to theregistration regime of nonhong kong companiesunder cap. Private company limited by guarantee without a share capital 3. Slaughter and may new hong kong companies ordinance. Companies winding up and miscellaneous provisions ordinance. Regulations subsidiary legislation under the sfo, in. Companies ordinance exemption of companies and prospectuses from compliance with provisions amendment notice 2010 made by the securities and futures commission under sections 38a and 342a of the companies ordinance cap. Client alert financial restructuring and insolvency.
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