Segment fifty five with the predecessor Ordinance, as in drive straight away right before its repeal, continues to use to an increase in a company’ s share cash if the resolution authorizing the rise was handed ahead of the commencement day* of part 171. 28. Description of shares of different lessons

A Hong Kong company secretary’s duties and duties are assorted. It ranges from administrative to administration functions. The subsequent are a number of the Most important tasks in the corporate secretary:

Cap 622 - Businesses Ordinance 342 (b) to provide recognize into the Registrar of any issue. (2) The Registrar, or even a member or creditor in the company, may perhaps serve a observe on the company or officer requiring the company or officer to adjust to the necessity. (three) If the company or officer fails to help make great the contravention in 14 days right after service of the observe, the Court may possibly, on application via the Registrar, or by a member or creditor with the company, make an order— (a) in the situation of a contravention with the company, directing the company and any officer of the company to generate great the contravention throughout the time specified in the purchase; or (b) in the case of the contravention from the officer, directing the officer for making good the contravention inside the time specified in the order.

L.N. 163 of 2013 03/03/2014 If a company makes a distribution consisting of or such as a non-cash asset, and any A part of the quantity at which the asset is stated in the referential monetary statements signifies an unrealized revenue, that Component of that amount should be to be considered to be a realized income for the goal of pinpointing, before or once the distribution, the lawfulness with the distribution in accordance with this Aspect.

(three) However, Every member may well only request the company to flow into a person this sort of assertion with respect for the resolution. Section: 552 Company’s duty to circulate published resolution proposed by users

Cap 622 - Firms Ordinance 152 Area: 410 Experienced privileges L.N. 163 of 2013 03/03/2014 (one) While in the absence of malice, an auditor of the company isn't liable to any action for defamation within the match of anyone in respect of any assertion made by the auditor while in the course of performing duties as auditor from the company. (two) Inside the absence of malice, somebody isn't liable to any action for defamation at the match of anyone in regard on the publication of any document— (a) organized by an auditor of the company while in the course of undertaking duties as auditor from the company; and (b) demanded by this Ordinance— (i) to become delivered to the Registrar; or (ii) to get sent to any member on the company or some other man or woman. (three) This part doesn't Restrict or have an impact on almost every other ideal, privilege or immunity that an auditor of a company, or some other particular person, has as defendant in an motion for defamation. (4) With this segment, a reference to undertaking duties as auditor of the company incorporates— (a) making a cessation assertion, providing the statement to your company, and requesting the company to adjust to the need specified in area 422(five) in relation to the assertion; and (b) making a statement of circumstances, and providing the assertion towards the company. Part: 411 Rights in relation to standard Assembly L.N. 163 of 2013 03/03/2014 (one) An individual appointed as auditor of the company is entitled— (a) to show up at any in the company’s standard conferences; and (b) to become listened to, at any in the company’s typical conferences, on any part of the enterprise of the Conference that problems the individual as auditor of your company. (2) An individual’s entitlement beneath subsection (1)(a) or (b) is, if the individual can be a company or physique corporate, exercisable by a purely natural person authorized by the individual to work as the individual’s consultant in the Assembly.

L.N. 163 of 2013 03/03/2014 (1) A listed company may purchase back again its possess shares on the regarded stock industry or on an accredited inventory exchange In case the obtain-again is authorized ahead of time by resolution in the company. (2) The company should involve a memorandum on the conditions of your proposed invest in-back again With all the recognize with the proposed resolution. (three) A resolution authorizing a invest in-back again under this part is valid for that interval expiring to the day of the following yearly general meeting from the company, Which period of time might be extended by the company at that yearly normal Assembly till the date of the following once-a-year general meeting. (four) Within this area— authorised stock exchange(核准證券交易所) means a inventory exchange approved to the functions of the portion by see revealed within the Gazette by— (a) the Commission; and (b) the recognized exchange company that operates the identified inventory current market on which the shares anxious are detailed.

(1) This part applies if, at the end of a economical yr, a company is the subsidiary of A different undertaking. (2) The company’s financial statements for your fiscal 12 months must include, during the notes towards the statements— (a) the identify of the undertaking regarded by the directors as staying the company’s greatest mum or dad undertaking; and (b) the following data concerning that enterprise as known to the directors— (i) if that endeavor can be a human body corporate, the place during which it is actually incorporated; (ii) if that enterprise just isn't a overall body corporate, the deal with of its principal location of business. four. Compliance with relevant accounting benchmarks

(3) The regulations might present that any of the following is undoubtedly an offence— (a) a failure to choose all reasonable measures to secure compliance with, as respects the money statements, summary economical report or administrators’ report that's been revised— (i) a specified provision in the laws; or (ii) a specified provision of this Ordinance as acquiring influence beneath the laws; (b) a contravention of— (i) a specified provision of the regulations; or (ii) a specified provision of the Ordinance as possessing impact underneath the rules. (four) The most high-quality that may be prescribed for an offence committed wilfully is $300000 and the maximum imprisonment is 12 months. The most great Which may be prescribed for an offence not committed wilfully is $300000. On top of that, in the situation of a continuing offence, an additional fine not exceeding $2000 for on a daily basis throughout which the offence carries on can be prescribed. (5) The rules may give for defences to any such offence.

Other studies: Many other studies may perhaps need to be submitted dependant upon your company, which include experiences on administrators’ remuneration and company prices.

(two) Within this Element, a reference to your charged home of a non-Hong Kong company registered underneath Aspect XI of the predecessor Ordinance is actually a reference to— (a) the residence in Hong Kong of your company and topic to a charge developed because of the company, except home that was not in Hong Kong when the charge was developed; or (b) the residence in Hong Kong with the company and subject to some charge that subsisted when the home was acquired by the company, except assets which was not in Hong Kong when it had been so obtained. 63. Charge developed by company

(two) Segment 116C from the predecessor Ordinance, as in force promptly before its repeal, continues to apply in relation to resolutions for which Exclusive see is required if detect of the intention to move the resolution was presented on the company ahead of the commencement day* of portion 578. 103. Customers’ statements

We care for the transition course of action from a old company secretary to us. It really is productive and stress-totally free: we Get your paperwork and obtain their resignation indicator-off.

Any legal proceedings that could have been commenced or continued by or against it by its previous identify may be commenced or continued by or against it by its new identify. (six) In the event the company contravenes subsection (2) the company, and every accountable particular person on the company, commit an offence, and each company formation companies is liable to a good at level three and, in the situation of a continuing offence, to a further good of $three hundred for day after day all through which the offence proceeds. (7) Within this section— previous name(前有名稱), in relation to the company restored to the businesses Register less than this Division, suggests the name which the company had immediately in advance of it was dissolved. Section: 771 Registrar may perhaps direct company to change same or very similar name etcetera.