What Does hong kong listing rules company secretary Mean?
Cap 622 - Companies Ordinance 244 variation involving a phrase or words needed to be Element of the identify and also a permitted abbreviation of that phrase or People terms (or vice versa) is always to be disregarded. Section: 660 Criminal effects of failure for making required disclosures
(3) This area would not apply into the offering of economic guidance by a company for the purpose of the acquisition of the share in its Keeping company or for the objective of reducing or discharging a liability incurred for this kind of an acquisition In the event the Keeping company is actually a company incorporated outside the house Hong Kong. (four) If a company contravenes subsection (one) or (2), the company, and each liable human being of your company, dedicate an offence, and every is liable to some good of $150000 and also to imprisonment for 12 months. Area: 276 Failure to comply with Division would not have an effect on validity of economic assistance, and so forth.
Area: 809 Registrar need to not register devoid of members’ assent L.N. 163 of 2013 03/03/2014 (one) The Registrar must not sign-up an suitable company below this Section as an unlimited company Until There exists assent into the registration by a vast majority from the users existing at a typical meeting with the company convened for that intent. (two) The Registrar should not sign up an eligible company below this Element to be a company limited by assure unless There is certainly assent for the registration by no less than 75% of your customers current at a basic Conference of the company convened for that intent. (three) With the functions of the portion, in computing a the greater part, or 75%, in the users in which a poll is demanded, the amount of votes to which Just about every member is entitled in accordance with the qualified company’s laws should be taken under consideration. (4) During this portion, a reference to your member current in a basic meeting is— (a) a reference to the member current in person; or (b) if proxies are permitted by the qualified company’s regulations, a reference to some member existing by proxy.
(one) An existing company need not comply with any provision of this Ordinance demanding the company’s register of company secretaries to have particulars added to Those people essential with the predecessor Ordinance right until— (a) the date to which the company can make up its 1st yearly return built nearly a day on or following the commencement date* of portion 650; or (b) if the company fails to do so, the last date to which the company ought to have made up that return. (two) Until the present company can be a company formed and registered beneath a provision with the predecessor Ordinance aquiring a continuing outcome beneath this Timetable or by virtue of portion 23 of the Interpretation and Common Clauses Ordinance (Cap 1), subsection (1) isn't going to implement in relation to a company secretary of whom particulars are 1st registered on or after the commencement date* of portion 650 (whether or not the company secretary was appointed in advance of, on or following that day).
A company secretary can be an worker who's substantially very important into the corporate governance, administration, and way of the company.
(1) Apart from exactly where the company is A non-public company having a share money, Should the financial 12 months (as described in part 2(1) in the predecessor Ordinance) of your company begins ahead of the commencement date* of area 662 and finishes on or following that date— (a) sections 107 and 109 of your predecessor Ordinance, as in drive quickly prior to their repeal, proceed to apply in relation towards the company for that economic calendar year; and (b) segment 662 applies in relation for the company for the primary economical yr that starts on or after that commencement date* and all subsequent money a long time.
To the purposes with the operation of the Ordinance on and after the commencement date* of section one hundred thirty five in relation to some share issued ahead of that commencement date*— (a) the amount compensated over the share would be the sum of all quantities paid out for the company at any time with the share; and (b) the quantity remaining unpaid to the share may be the distinction between The problem price of the share and the amount compensated over the share. 37. Cure of share premium account and money redemption reserve
The liability of a shareholder for phone calls in regard of cash remaining unpaid on shares issued ahead of the commencement date* of section 135 (whether on account in the nominal worth of the shares or Through quality) is not really influenced with the share ceasing to possess a nominal worth. 40. References in contracts and other paperwork to par or nominal worth
(one) A reference within a continuing provision on the nominal quantity or nominal worth of a share is, in relation to any time period on or once the commencement day* of portion a hundred thirty five, a reference for the nominal total or nominal price of the share quickly right before that commencement day*, along with a reference to share high quality is to be construed accordingly. (two) A reference in a very continuing provision to the company’s share quality account or capital redemption reserve is, in relation to any time period on or following the commencement day* of section a hundred thirty five, a reference towards the company’s share high quality account or virgin islands company formation capital redemption reserve instantly just before that commencement date*.
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L.N. 163 of 2013 03/03/2014 (1) If your Registrar has affordable bring about to feel that a registered non-Hong Kong company has ceased to have a position of enterprise in Hong Kong, the Registrar may possibly mail for the company by publish a letter inquiring if the company has ceased to have a spot of business enterprise in Hong Kong. (two) A letter has to be dealt with— (a) to a licensed representative of the registered non-Hong Kong company whose demanded specifics are proven in the Companies Register; or (b) if no demanded particulars of authorized Reps with the company are revealed in the businesses Sign-up, to anyplace of company set up by the company in Hong Kong.
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(seven) In subsection (5)— projected sum(預計款項), in relation to the depreciation of a set asset, usually means a sum that would happen to be composed off or retained for depreciation In case the revaluation on the asset experienced not been manufactured. (8) With the needs of this portion, an asset of a company is always to be considered a fixed asset if it is meant for use in the company’s functions, or or else to generally be held for the objective of the company’s actions, on a continuing foundation. Section: 293 Sure quantity relating to coverage company with long run business enterprise to get regarded as realized income or loss