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Section: 354 Notification of put where by sign up of costs is saved L.N. 163 of 2013 03/03/2014 (one) A company or registered non-Hong Kong company should notify the Registrar with the put at which the register of expenses is held. The notice needs to be in the required kind and sent to the Registrar for registration within just fifteen times once the sign up is first stored at that location. (2) A company or registered non-Hong Kong company will have to notify the Registrar of any change (apart from a change in the handle from the company’s registered office or registered non-Hong Kong company’s principal put of small business in Hong Kong) within the position at which the register of rates is saved. The notice should be in the specified sort and sent to the Registrar for registration in just fifteen days once the change. (3) Subsection (one) does not need a company or registered non-Hong Kong company to notify the Registrar on the position at which the register of rates is stored— (a) if, in the situation of the sign up that came into existence on or following the commencement date* of the portion, it's got continually been retained at— (i) the company’s registered Place of work; or (ii) the registered non-Hong Kong company’s principal area of enterprise in Hong Kong; or (b) if— (i) promptly right before that commencement date*, the company or registered non-Hong Kong company kept a register for the needs of segment 89 of the predecessor Ordinance; and (ii) on and following that commencement day*, that sign-up is held like a register of charges for the functions of area 352(1) or 353(one) with the location at which it had been held immediately just before that commencement

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Will you be intending to incorporate a restricted company in Hong Kong? If so, based on the Hong Kong Firms Ordinance, you should appoint a local company secretary. But what exactly is a company secretary particularly? What do they are doing, and do you need a single? Please read on to see a lot more.

She or he helps make confident the company's operation is under Hong Kong statutory requirements, rules, and regulations.

(5) The administrators of a company will have to not specify a different accounting reference date in relation to an accounting reference period of time so as to increase the time period to for a longer time than eighteen months. (6) The administrators of a company will have to not specify a new accounting reference date in relation to The present or past accounting reference period so as to extend that time period if— (a) Individuals directors have specified a new accounting reference day in relation to an before accounting reference period so as to extend that earlier period; and (b) the sooner accounting reference interval ended within 5 years ahead of the new accounting reference day is specified. (7) Subsection (six) won't use if— (a) the new accounting reference date to get specified by the directors coincides Along with the accounting reference day of the holding company of the company; or (b) the specification is approved by a associates’ resolution. (8) If a company contravenes subsection (two), the company, and every responsible human being from the company, dedicate an offence, and each is liable to a high-quality at level three and, in the situation of a continuing offence, to an extra high-quality of $three hundred for every day for the duration of which the offence proceeds. (9) In this portion— former accounting reference interval(對上的會計參照期), in relation to some company, implies the accounting reference period of the company immediately previous the company’s current accounting reference period of time. Element: Division: nine 4 Planning of Financial Statements and Administrators’ Reviews

Cap 622 - Organizations Ordinance 369 administrators. (3) A reference to share premium is often a reference to any residual share money in relation on the share. (four) A reference to the ideal to some return of money on the share is actually a reference to your proper to some return of funds of a value equivalent to the quantity paid in regard in the nominal price of the share. (five) A reference to your distribution inside a winding up in proportion into the money compensated up on a share is a reference into a distribution in a very winding up in proportion to the amount paid out in respect of the nominal value of the share. (six) A reference towards the combination par or nominal value of the company’s issued share capital is usually a reference to that aggregate mainly because it existed promptly prior to the commencement date* of section a hundred thirty five and— (a) enhanced to get account with the nominal value of any shares issued on or following that commencement day*; and (b) lowered to acquire account with the nominal worth of any shares cancelled on or following that commencement day*.

Area 85 of the predecessor Ordinance, as in drive quickly prior to its repeal— (a) carries on to use in relation to an software made by a company, the mortgagee, or the person entitled towards the charge, prior to the commencement day* of Division five of Element eight to the reasons of that portion eighty five; and (b) proceeds to apply, by advantage of section 91 from the predecessor Ordinance as so in force, in relation to an software created by a non-Hong Kong company registered beneath Aspect XI from the predecessor Ordinance, the mortgagee, or the person entitled towards the demand, just before that commencement date* to the purposes of that portion 85. 70. Extension of time for registration and rectification of sign-up of fees

(four) Within 15 times once the purchase is produced, the company should supply an Business office duplicate from the buy into the Registrar for registration. (5) If a company contravenes subsection (four), the company, and every liable individual on the company, dedicate an offence, and every is liable to the good at degree 3 and, in the situation of a continuing offence, to an additional high-quality of $three hundred for every day throughout which the offence proceeds. Section: 727 Chief Justice may possibly make rules L.N. 163 of 2013 03/03/2014 (one) Subject matter to the acceptance with the Legislative Council, the Chief Justice could make rules— (a) for regulating proceedings beneath this Division; and (b) for prescribing expenses payable in respect of these kinds of proceedings. (two) If the rules empower an individual To place an issue to a different human being, they may also give that that other particular person’ s reply towards the query may very well be Employed in proof in opposition to that other particular person. (3) The rules may empower the Court docket— (a) to fix any charge payable in respect of this kind of proceedings that isn't prescribed because of the rules; and (b) to differ the charge so fixed. (four) The rules may give that a charge payable to anyone in regard of such proceedings is recoverable as a financial debt as a result of person. (5) A payment may be prescribed because of the rules, or preset or diverse through the Court under the rules, by reference to your scale of service fees and percentages. (six) A charge might be so prescribed, preset or assorted with out reference to the level of administrative or other costs incurred or likely to be incurred in relation to these proceedings. (7) A price so prescribed, fastened or diversified will not be invalid by cause only of the level of the price. Component: Division: fourteen three Treatments for Other individuals’ Perform in relation to Corporations and so forth.

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Until eventually the Chief Secretary for Administration publishes a listing of Chinese language newspapers and English language newspapers during the Gazette beneath segment 203(two), a Chinese language newspaper or an English language newspaper specified in the listing of newspapers past posted beneath section 71A(3)(a) of the predecessor Ordinance is taken to be a specified Chinese language newspaper or perhaps a specified English language newspaper (as the situation can be) with the uses of Portion 5. Part 6

Cap 622 - Firms Ordinance 68 company. Section: 195 Group reconstruction aid L.N. 163 of 2013 03/03/2014 (1) This segment applies if an issuing company— (a) is a completely owned subsidiary of One more company (the holding company); and (b) difficulties shares— (i) on the Keeping company; or (ii) to another wholly owned subsidiary from the holding company, in thing to consider for that transfer on the issuing company of non-hard cash belongings of the company (the transferor company) that is a member of your group of businesses that comprises the holding company and all its wholly owned subsidiaries. (2) Any extra of the value from the belongings transferred above their net foundation worth could possibly be disregarded when recording as share funds with the issuing company the level of consideration for The problem by the issuing company of its shares. Consequently, the minimal degree of consideration necessary to be recorded as share funds of the issuing company in respect with the shares issued for the transfer is The online base value of the property transferred. (3) The web base price of the belongings transferred is the quantity by which the base price of the belongings transferred exceeds The bottom price of any liabilities of your transferor company assumed by the issuing company as thought for that assets transferred. (four) For the needs of this area— (a) The bottom worth of assets transferred would be the lesser of— (i) the cost of People belongings into the transferor company; (ii) the quantity at which those assets are mentioned in the transferor company’ s accounting records promptly prior to the transfer; (b) The bottom worth of liabilities assumed is the amount at which They may be stated inside the transferor company’s accounting information quickly prior to the transfer. Area: 196 Merger reduction L.N. 163 of 2013 03/03/2014 (1) This section applies if an issuing company has secured no less than a 90% equity Keeping in One more company below an arrangement offering for the issue of fairness shares from the issuing company on phrases which the thing to consider for that shares issued should be to be furnished— (a) by The problem or transfer for the issuing company of fairness shares in the opposite company; or (b) with the cancellation of any fairness shares in the other company not held via the issuing company.

(two) Unless the deal is in composing, the company must be certain that— (a) the terms of the deal are established out in a very created memorandum in fifteen times in the getting into into with the agreement; and (b) the memorandum is held within the spot at which the publications made up of the minutes of the directors’ conferences are kept. (3) If a company contravenes subsection (2), the company, and every accountable individual of your company, dedicate an offence, and every is liable to your fine at level three. (4) A contravention of subsection (2) in relation into a agreement won't impact the validity from the deal. (5) This segment isn't going to exclude the operation of almost every other Ordinance or rule of legislation applying to contracts concerning a company and also a director on the company. (6) With this area— director(董事) features a shadow director. (7) For the applications of this section, a overall body corporate is not to be considered to be a shadow director of any of its subsidiaries by explanation only that the administrators, or maybe a greater part of the directors, of your subsidiary are accustomed to act in accordance with its directions or Guidance. Area: 546 Economical Secretary could amend sure sums or proportion figures

Cap 622 - Corporations Ordinance 349 (i) is of A sort authorized by any doc constituting or regulating that other endeavor; and (ii) is permitted with the law under which that other enterprise is proven. (three) In subsection (one)(b), a reference for the voting rights within an endeavor is— (a) in the situation of an enterprise getting a share capital, a reference to your rights provided into the associates in regard of their shares; or (b) in the case of the endeavor not having a share cash— (i) if the endeavor is necessary to carry basic conferences at which issues are determined via the workout of voting legal rights, a reference to the rights presented into the associates to vote at the final meetings on all issues or on substantially all matters; or (ii) If your enterprise isn't necessary to maintain such basic meetings, a reference to your legal rights underneath the undertaking’s constitution to immediate the enterprise’s Over-all policy or to alter the company formation uk with bank account terms of that constitution. (four) With the reasons of subsection (1)(b), an undertaking is actually a member of Yet another endeavor if— (a) an individual acting on behalf of it, or of any of its subsidiary undertakings, retains shares in that other endeavor; or (b) any of its subsidiary undertakings can be a member of that other endeavor.