New Step by Step Map For hong kong company secretary license
New Step by Step Map For hong kong company secretary license
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Cap 622 - Businesses Ordinance 244 variation involving a term or text necessary to be Element of the identify plus a permitted abbreviation of that phrase or All those terms (or vice versa) should be to be disregarded. Segment: 660 Legal repercussions of failure to help make needed disclosures
(3) To the functions of this Division, shares that an associate of your repurchasing company, or perhaps a nominee within the repurchasing company’s behalf, retains, or has contracted, unconditionally or subject matter to conditions being satisfied, to obtain back, whether for the date of the general provide or subsequently, will not be to generally be regarded as shares to which which offer relates, regardless of whether which offer extends to All those shares. This subsection has influence issue to subsection (four). (4) To the uses of the Division, exactly where, following a normal offer is made but before the stop of the provide interval, an associate in the repurchasing company, or simply a nominee about the repurchasing company’s behalf, purchases back again, or contracts unconditionally to get back, any from the shares to which the supply relates, the shares are to become considered shares to which the supply relates if— (a) the worth on the consideration for which the shares are bought again, or contracted to get purchased back again, at enough time with the get-back or deal, isn't going to exceed the value of your consideration specified in the terms from the give; or (b) those conditions are subsequently revised making sure that in the event the revision is declared, the worth in the thing to consider for which the shares are bought again, or contracted to generally be purchased again, at enough time of your get-again or contract, no more exceeds the value of your thing to consider specified in These conditions. (five) With the reasons of this Division, the shares held by a nontendering member usually are not for being regarded as shares to which the overall provide relates, regardless of whether which offer extends to All those shares. Segment: 710 Revised offer you never to be viewed as fresh new supply L.N. 163 of 2013 03/03/2014 For your needs of this Division, a revision on the phrases of a proposal to purchase back shares is not to be thought to be the creating of a refreshing give if— (a) the terms with the offer you make provision for— (i) their revision; and (ii) acceptances around the former terms being handled as acceptances around the revised conditions; and (b) the revision is made in accordance with that provision.
(5) A change of identify underneath this area doesn't have an effect on any legal rights or obligations on the company or render defective any legal proceedings by or against it. Any lawful proceedings that might have been commenced or continued by or against it by its former title could be commenced or continued by or from it by its new identify. (six) If a company contravenes subsection (two), the company, and every responsible individual of the company, commit an offence, and every is liable into a wonderful at degree three and, in the case of a continuing offence, to an extra good of $three hundred for on a daily basis throughout which the offence proceeds. Segment: 108 Registrar may direct company to change very same or related name and so on.
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(two) For the goal of making use of this Ordinance to a company pointed out in subsection (1), a reference in this Ordinance towards the date of registration would be to be read as being the day on which the company was registered underneath the former Businesses Ordinance.
A corporate secretary in Hong Kong really should not be confused with only a secretary who performs ordinary clerical function.
, as thought on the market of home of company); (g) anything finished beneath an arrangement manufactured in between a company and its creditors that is binding within the creditors as a result of part 254 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance
In the event the company secretary is usually a pure particular person, they should be a resident in Hong Kong (everlasting or otherwise);
L.N. 163 of 2013 03/03/2014 (1) The Registrar may serve a discover on a registered non-Hong Kong company if content that a corporate name or accredited title with the company— (a) is similar to or is simply too like— (i) a reputation that seems, or should have appeared, while in the index of names held less than portion 22C of your predecessor Ordinance or in the Index of Company Names on the material date; or (ii) the identify of the human body corporate incorporated or set up under an Ordinance before the material day; or (b) gives so misleading a sign of the character from the company’s functions in Hong Kong as for being more likely to cause harm to the public.
We are going to deliver information on Hong Kong tax rates and native allowances, so you can do business enterprise in Hong Kong when remaining tax-compliant.
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(three) A company is not really needed to provide a detect underneath this segment in relation to an alteration of share cash involving an allotment of shares. Be aware— For an allotment of shares, section 142 needs a company to deliver a return of the allotment into the Registrar for registration. (four) If a company contravenes subsection (1), the company, and every responsible human being with the company, commit an offence, and every is liable into a great at amount 4 and, in the situation of the continuing offence, to an extra good of $seven-hundred for daily throughout which the offence carries on. Area: 172 Redenomination of share money L.N. 163 of 2013 03/03/2014 (one) A minimal company may perhaps, by resolution with the company, transform its share cash or any course of shares from a single currency to a different currency. This is named a redenomination. (2) A resolution underneath this portion may authorize a restricted company to redenominate its share money— (a) on more than one event; (b) at a specified time or in specified situation. (three) A redenomination would not have an impact on any legal rights or obligations of users under the company’s posts, or any limits affecting associates under the company’s content articles. (four) Particularly, it doesn't influence any entitlement to dividends (like entitlement to dividends in a specific forex), voting rights or legal responsibility in respect of quantities remaining unpaid on shares (which include legal responsibility in a selected currency). (five) For your reasons of this part, the company’s content articles consist of the phrases on which any shares inside the company are allotted or held. (6) A limited company’s content articles may possibly exclude or limit the workout of a power conferred by this segment.
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Cap 622 - Providers Ordinance 182 Segment: 488 Director or previous director connected to body corporate L.N. 163 of 2013 03/03/2014 (1) With the purposes of the Portion, a director or former director is connected with a system corporate if— (a) the director or previous director, or any a number of in the entities specified in subsection (three), or the director or former director together with any a number of of All those specified entities, are entitled to physical exercise, or Manage the physical exercise of, a lot more than 30% of your voting ability at any typical Conference of that body corporate; or (b) the directors, or perhaps a bulk of the administrators, of that physique corporate are accustomed to act in accordance Using the Instructions or Guidelines of— (i) the director or former director; or (ii) an entity connected With all the director or former director. (2) During this section, a reference to voting electrical power the exercise of which is managed by a director or previous director, or by an entity laid out in subsection (3), includes voting electricity the physical exercise of that is controlled by A different body corporate Should the director or former director, or any one or more of the desired entities, or the formation company startup director or former director along with any one or more of the specified entities, are entitled to training, or Command the training of, a lot more than 50% of your voting electrical power at any standard meeting of that other physique corporate.