The Basic Principles Of company secretary hong kong qualification
L.N. 163 of 2013 03/03/2014 (one) If anyone is obtaining or proposing to accumulate shares in the company, the company or any of its subsidiaries have to not give monetary assistance immediately or indirectly for the objective of the acquisition in advance of or concurrently given that the acquisition usually takes place, besides as provided by this Division. (two) If— (a) anyone has obtained shares inside a company; and (b) anyone has incurred a legal responsibility for the goal of the acquisition, the company or any of its subsidiaries will have to not give fiscal guidance immediately or indirectly for the objective of reducing or discharging the liability, except as furnished by this Division.
Area 57A of the predecessor Ordinance, as in power right away just before its repeal, continues to use to your share certificate, prospectus or directors’ report issued ahead of the commencement date* of segment 179. 29. Variation of class legal rights: corporations getting a share capital
In Hong Kong, particular tasks need to be fulfilled for an excellent company institution and administration to arise. Company secretaries are not only there to refill Areas, they've got Main compliance duties to carry out.
Cap 622 - Organizations Ordinance 93 (b) a reference to some company providing monetary assistance for the purpose of decreasing or discharging a legal responsibility incurred by anyone for the goal of the acquisition of shares incorporates the company offering fiscal support for the objective of wholly or partly restoring the person’s economical posture to what it had been prior to the acquisition happened.
Cap 622 - Corporations Ordinance 236 (2) If a company discontinues a department sign up, the many entries in that register must be transferred to— (a) A few other branch sign up stored in exactly the same put outside Hong Kong with the company; or (b) the company’s register of members. (three) If a company discontinues a branch register, it need to in just 15 times once the discontinuance produce into the Registrar for registration a notice in the desired kind informing the Registrar of— (a) the discontinuance; and (b) the sign up to which all of the entries are transferred.
That said, since the purpose indicates some information and expertise, for those who appoint somebody, be sure that he/she has the relevant qualifications. Alternatively, if you opt to rent a service service provider, you’ll want to examine they've got the right licence in position.
To the purposes on the Procedure of this Ordinance on and following the commencement date* of area a hundred thirty five in relation into a share issued before that commencement date*— (a) the quantity compensated around the share could be the sum of all quantities paid on the company Anytime with the share; and (b) the amount remaining unpaid within the share could be the distinction between the issue price of the share and the amount paid within the share. 37. Cure of share quality account and cash redemption reserve
Area 85 of your predecessor Ordinance, as in pressure instantly before its repeal— (a) carries on to use in relation to an application produced by a company, the mortgagee, or the person entitled to the cost, before the commencement date* of Division 5 of Aspect eight for your purposes of that part 85; and (b) carries on to use, by advantage of section ninety one of the predecessor Ordinance as so in pressure, in relation to an software made by a non-Hong Kong company registered underneath Component XI of your predecessor Ordinance, the mortgagee, or the person entitled to your charge, in advance of that commencement date* for that functions of that part eighty five. 70. Extension of time for registration and rectification of sign-up of charges
Area 57C in the predecessor Ordinance, as in force immediately right before its repeal, proceeds to apply to shares purportedly issued or allotted ahead of the commencement day* of segment 146. 21. Permitted commissions
(four) If a company contravenes subsection (1), the company, and each dependable man or woman on the company, commit an offence, and every is liable to your wonderful at degree four and, in the case of a continuing offence, to an extra wonderful of $700 for each day through which the offence carries on. (5) With this area— company working day(營業日) signifies daily on which a identified stock sector is open for the business enterprise of dealing in securities. Portion: 324 Courtroom get for shipping of debenture or certification for debenture stock
(2) The document or details is distributed or provided company formation to that other man or woman with the purposes of an relevant provision When the document or info is sent or supplied— (a) by hand to that other individual; or (b) by hand or by submit to an deal with specified in segment 825. (3) For your functions of an relevant provision that authorizes or requires the doc or information and facts to generally be authenticated, the doc or information and facts is adequately authenticated whether it is signed by a director or company secretary on the company or by an officer in the company authorized for the intent. (four) If your document or details is shipped or equipped by anyone on behalf with the company to another company, subsection (3) would not have an affect on any provision of that other company’s articles less than which that other company may perhaps have to have realistic evidence of the individual’s authority to act on behalf on the company for which the document or information and facts is distributed or supplied. (five) If your document or information is shipped or supplied to that other person for the purposes of the applicable provision, it's to be considered getting been given by that other particular person— (a) exactly where the doc or details is shipped or equipped by put up, at time specified in portion 824, Unless of course the Opposite is proved; or (b) where the document or information and facts is sent or provided by hand, at some time once the doc or details is shipped. Section: 833 Conversation through Site L.N. 163 of 2013 03/03/2014 (1) Matter to subsection (two), this section applies if a document or facts is sent or supplied by a company to another man or woman by making it offered on a web site. (two) This segment isn't going to utilize When the document or facts is sent or supplied by a member of a company on the company. (three) The doc or information is sent or provided to that other particular person with the purposes of an applicable provision if— (a) that other individual— (i) has agreed, normally or specially, which the doc or information might be sent or supplied through the
(eight) Subsection (six) does not render defective any legal proceedings by or in opposition to the registered non-Hong Kong company. If there are any authorized proceedings Which may are already commenced or ongoing by or versus that company because of the corporate name or even the previous permitted identify, those proceedings could be commenced or ongoing by or from it by the new approved title in relation for the corporate name. Portion: Division: 16 5 Licensed Reps of Registered Non-Hong Kong Organizations
L.N. 163 of 2013 03/03/2014 (1) If the ailment laid out in subsection (2) is happy, a company just isn't prohibited by section 500, 501, 502 or 503 from coming into into any transaction— (a) to supply a director of your company or of a holding company in the company with funds to satisfy expenditure incurred or to become incurred because of the director in Placing up a defence in an investigation, or in opposition to any motion taken or proposed to become taken, by a regulatory authority in reference to any alleged misconduct via the director in relation on the company or an linked company of the company; or (b) to empower this kind of director in order to avoid incurring these types of expenditure. (two) The situation is that the transaction in problem is entered into over the conditions— (a) that the funds are to generally be repaid, or any liability with the company incurred in relation to that transaction should be to be discharged, When the director is found in the investigation or motion to have committed the misconduct; and (b) that the money are for being so repaid, or this sort of liability is always to be so discharged, not later when compared to the day in the event the getting results in being ultimate.
Cap 622 - Firms Ordinance 182 Part: 488 Director or former director connected to overall body corporate L.N. 163 of 2013 03/03/2014 (one) To the needs of this Component, a director or previous director is affiliated with a system corporate if— (a) the director or previous director, or any one or more in the entities specified in subsection (three), or even the director or former director along with any one or more of These specified entities, are entitled to physical exercise, or Manage the exercise of, much more than thirty% from the voting power at any typical Assembly of that entire body corporate; or (b) the administrators, or possibly a bulk of the administrators, of that human body corporate are accustomed to act in accordance With all the Instructions or Guidelines of— (i) the director or previous director; or (ii) an entity connected with the director or former director. (two) In this particular section, a reference to voting electric power the workout of which is controlled by a director or previous director, or by an entity laid out in subsection (3), involves voting power the work out of that is managed by another entire body corporate If your director or former director, or any one or more of the desired entities, or maybe the director or previous director together with any one or more of the desired entities, are entitled to training, or Manage the exercising of, much more than 50% of your voting electrical power at any standard Assembly of that other system corporate.