(five) If a registered non-Hong Kong company, or an officer or agent of a registered non-Hong Kong company, fails to comply with an purchase below subsection (4), the company, or even the officer or agent, commits an offence and is liable to some great at stage 5 and, in the situation of the continuing offence, to an additional great of $a thousand for each day through which the offence carries on. (six) Within this section, a reference into a Licensed copy of any accounts is, When the accounts usually are not in English or Chinese, a reference to the Qualified translation on the accounts in English or Chinese. Portion: 790 Administrators may perhaps revise accounts not complying with selected necessity

Area 57A of the predecessor Ordinance, as in force promptly prior to its repeal, carries on to apply to a share certificate, prospectus or directors’ report issued before the commencement day* of segment 179. 29. Variation of class rights: organizations having a share capital

On and after the commencement date* of segment 308, a sign up of holders of debentures kept beneath section 74A in the predecessor Ordinance would be to be regarded as a sign-up of debenture holders retained less than area 308. fifty one. Notifying Registrar of spot in which register of debenture holders is held

(one) With the purposes of the Ordinance, an endeavor is a subsidiary undertaking of another undertaking if that other undertaking can be a mum or dad enterprise of it. (2) To the applications of this Ordinance, an undertaking can be a subsidiary enterprise of another endeavor if a guardian endeavor of it is a subsidiary enterprise of that other undertaking.

(two) In this portion— young children(子女) includes stage-children, illegitimate kids and kids adopted in almost any manner acknowledged because of the regulation of Hong Kong; personnel share plan(僱員參股計劃) usually means a scheme for encouraging or facilitating the Keeping of shares in a company by or for the advantage of— (a) individuals used or formerly employed in very good religion by that company or An additional company in the identical group of firms; or (b) spouses, widows, widowers, or insignificant kids of folks referred to in paragraph (a); small kids(未成年子女) implies children who are beneath eighteen years of age. Section: 281 Exception for loans to personnel L.N. 163 of 2013 03/03/2014 (one) Issue to area 282, this Division isn't going to prohibit the creating by a company of financial loans to its suitable workforce for the goal of enabling them to obtain fully paid out shares during the company or its holding company to be held by them Through effective ownership. (2) In this section— youngster(子女) includes a move-boy or girl, an illegitimate boy or girl and a kid adopted in almost any method identified with the legislation of Hong Kong; suitable staff(合資格的僱員), in relation to the company, signifies persons used in good religion through the company, besides—

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(1) In this particular Element, a replica of an instrument in relation to some charge shipped for registration is often a Accredited copy if it is Licensed as a real duplicate—

L.N. 163 of 2013 03/03/2014 (1) The Registrar may possibly by notice in producing direct a company to change, in the period of time laid out in the detect, a reputation below which the company is restored to the businesses Sign-up below this Division if— (a) the title is, as at enough time from the restoration, the same as or in the Registrar’s viewpoint as well similar to a title that appeared or must have appeared during the index of names held beneath area 22C on the predecessor Ordinance or from the Index of Company Names; or (b) the identify is, as at time of the restoration, similar to or inside the Registrar’s impression far too similar to a identify of a system corporate incorporated or proven less than an Ordinance.

L.N. 163 of 2013 03/03/2014 (one) A company must let a director with the company to create a copy of its accounting information from the course of inspection. (2) A company ought to give a director on the company by using a duplicate of its accounting documents at no cost In that case asked for by the director. (three) To the applications of subsection (two)— (a) In the event the director requests a copy of your company’s accounting records in tricky copy kind, the company ought to provide the copy in really hard duplicate type; and (b) When the director requests a copy with the company’s accounting documents in electronic form, the company ought to supply the copy in any Digital form that the company thinks fit. (4) Subsections (two) and (three) do not demand a company to deliver a director in the company having a duplicate of its accounting documents in electronic form if it retains its accounting information by recording the information in really hard copy kind only. (five) If any accounting documents are retained by a company by recording the data in Digital variety, a need below this Subdivision for that accounting documents to become open up to inspection would be to be viewed as a need— (a) to get a reproduction on the recording in challenging duplicate kind to be open up to inspection; and (b) for the recording to become open up to inspection by Digital signifies in the request of anyone entitled to inspect the accounting documents. (6) A director of the company who fails to acquire all realistic actions to protected compliance with subsection (1) or (two) commits an offence and is liable to your fantastic at level 5 and, in the case of a continuing offence, to an extra good of $one thousand for on a daily basis throughout which the offence continues.

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Section: 292 Specific sum to become considered to be realized earnings or loss L.N. 163 of 2013 03/03/2014 (one) To the needs of this Part, a provision besides an amount specified in subsection (2) is usually to be considered to be a recognized loss. (two) The amount is a single composed off or retained By the use of furnishing for a diminution in value of a hard and fast asset appearing on a revaluation of— (a) every one of the company’s preset belongings; or (b) every one of the company’s fastened assets besides goodwill. (three) To the functions of subsection (two), any thought by the directors of the worth at a particular time of a set asset is usually to be thought to be a revaluation from the asset if— (a) in the situation of a detailed company, the conditions specified in subsection (four)(a) and (b) are satisfied; or (b) in the case of every other company— (i) where by the referential economic statements are classified as the financial statements laid out in area 304, the conditions laid out in subsection (four)(a) and (b) are happy; or (ii) where by the referential fiscal statements are the fiscal statements specified in part 305 or 306, the condition specified in subsection (four)(a) is contented. (four) The conditions are— (a) that the directors are content which the combination benefit At the moment on the company’s fastened belongings is just not less than the combination quantity at which They're In the meanwhile said within the financial statements; and (b) that it's stated within a Take note for the referential fiscal statements that— (i) the directors have deemed the worth on the company’s fixed assets without the need of basically revaluing them; (ii) the administrators are satisfied the aggregate price at time of thought of All those assets is or was not fewer than the mixture amount at which They are really or ended up In the meanwhile said inside the money statements; and (iii) appropriately, by advantage of the subsection, quantities are said from the referential money statements on

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Cap 622 - Providers Ordinance 182 Segment: 488 Director or previous director linked to entire body corporate L.N. 163 of 2013 03/03/2014 (one) With the purposes of this Section, a director or former director is affiliated with a human body corporate if— (a) the director or previous director, or any a number of on the entities laid out in subsection (three), or perhaps the director or previous director together with any one or more of Those people specified entities, are entitled to physical exercise, or Command the work out of, a lot more than 30% in the voting electric power at any standard meeting of that overall body corporate; or (b) the administrators, or even a bulk of the directors, of that human body corporate are accustomed to act in accordance While using the Instructions or Recommendations of— (i) the director or previous director; or (ii) an entity connected With all the director or former director. (2) In formation company set my company up this area, a reference to voting electricity the training of which can be controlled by a director or previous director, or by an entity specified in subsection (three), consists of voting electricity the exercise of that's managed by another physique corporate If your director or previous director, or any a number of of the required entities, or maybe the director or previous director along with any a number of of the desired entities, are entitled to work out, or Command the physical exercise of, greater than fifty% from the voting electrical power at any common meeting of that other body corporate.