hong kong company secretary's practice manual Fundamentals Explained
hong kong company secretary's practice manual Fundamentals Explained
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Part 55 of your predecessor Ordinance, as in drive quickly before its repeal, proceeds to use to an increase in a company’ s share money if the resolution authorizing the increase was handed ahead of the commencement day* of part 171. 28. Description of shares of different courses
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(5) A change of name less than this portion doesn't impact any legal rights or obligations of your company or render faulty any authorized proceedings by or versus it. Any lawful proceedings that might have been commenced or ongoing by or in opposition to it by its former title may be commenced or continued by or against it by its new name. (6) If a company contravenes subsection (2), the company, and each responsible man or woman of the company, dedicate an offence, and each is liable into a wonderful at degree 3 and, in the case of a continuing offence, to an additional fine of $three hundred for on a daily basis during which the offence carries on. Segment: 108 Registrar may immediate company to change exact or related name etc.
Cap 622 - Firms Ordinance 69 (2) Company A has secured not less than a 90% fairness Keeping in company B if, in consequence of the acquisition or cancellation of equity shares in company B under that arrangement, company A retains in aggregate ninety% or even more on the fairness shares in company B (whether or not all or any in the equity shares in company B held by company A were obtained under that arrangement). (3) Should the fairness shares in company B are divided into distinctive classes of shares, company A will not be thought to be acquiring secured no less than a 90% equity holding in company B Except the requirements of subsection (2) are fulfilled in relation to each of People classes of shares taken independently.
(6) Where the offence just isn't an offence constituted by a failure to try and do an act or detail— (a) no proceedings might be instituted from the individual in respect of that offence if, within the interval specified in a recognize under subsection (one) or that period as extended less than subsection (3), the person pays to the Registrar the quantity specified in the recognize; or (b) proceedings can be instituted versus the individual in respect of that offence if, within the time period laid out in a notice beneath subsection (one) or that time period as extended beneath subsection (3), the individual has not paid out for the Registrar the amount laid out in the detect. (7) The payment of an sum laid out in a recognize supplied to a person less than subsection (one) is not to be considered to be an admission by the person of any liability for your offence alleged in the discover to are already committed by the person.
(2) With this Division, a reference to the previous member of the company features the personal agent of a one that, quickly ahead of the man or woman’s death, was a previous member of your company.
(four) The Courtroom should not purchase the removal of any facts from the Companies Sign-up below subsection (one) unless it is actually happy that— (a) even when a document showing the rectification in issue is registered, the continuing presence of the data on the Companies Register will lead to materials damage to the company; and (b) the company’s curiosity in removing the data outweighs the desire of other folks in the knowledge continuing to appear on the Companies Sign up. (5) When the Court docket would make an buy for your rectification of any info on or the removing of any facts from the Companies Sign up under subsection (one), the Court docket may perhaps make any consequential buy that appears to it for being just with respect to the authorized result (if any) to become accorded to the knowledge by advantage of its possessing appeared on the Companies Sign up. (6) Should the Court docket would make an get for your removing of any information and facts from the businesses Sign-up under subsection
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(2) Any sum that will be required by a continuing provision being transferred into a company’s share high quality account or money redemption reserve on or after the commencement day* of area one hundred thirty five gets Portion of the company’s share capital. 38. Use of volume standing to credit history of share top quality account
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Segment: 691 Shares to which takeover offer relates L.N. 163 of 2013 03/03/2014 (one) To the functions of the Division, if, following a takeover offer is built but prior to the finish of the offer interval, the offeror acquires, or contracts unconditionally to accumulate, any of the shares to which the give relates but won't do so by advantage of acceptances on the provide, Those people shares will not be for being regarded as shares to which the offer you relates. This subsection has effect matter to subsection (2). (2) With the applications of this Division, those shares are being thought to be shares to which the takeover offer relates, along with the offeror is to be viewed as having acquired or contracted to obtain them by virtue of acceptances of that offer, if— (a) the value with the consideration for which the shares are obtained, or contracted to be acquired, at some time from the acquisition or agreement, would not exceed the value in the thing to consider specified in the phrases of which offer; or (b) These terms are subsequently revised to ensure once the revision is declared, the worth in the thing to consider for which the shares are obtained, or contracted for being obtained, at the time of the acquisition or contract, no
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Cap 622 - Providers Ordinance 349 (i) is of A form approved by any document constituting or regulating that other endeavor; and (ii) is permitted through the law below which that other undertaking is established. (3) In subsection (one)(b), a reference to your voting legal rights in an undertaking is— (a) in the situation of the endeavor possessing a share capital, a reference towards the rights given into the users in respect of their shares; or (b) in the situation of an undertaking not aquiring a share funds— (i) In case the undertaking is necessary to carry typical conferences at which matters are made the decision with the training of voting legal rights, a reference for the legal rights given into the customers to vote at the general conferences on all issues or on substantially all issues; or (ii) In company formation in india the event the enterprise will not be required to keep these kinds of typical conferences, a reference for the legal rights beneath the undertaking’s Structure to direct the endeavor’s General policy or to change the terms of that Structure. (four) To the purposes of subsection (1)(b), an enterprise is often a member of Yet another enterprise if— (a) an individual acting on behalf of it, or of any of its subsidiary undertakings, retains shares in that other enterprise; or (b) any of its subsidiary undertakings is actually a member of that other endeavor.