Every company must hold its first agm within 18 months of the companys incorporation. Registered in hong kong under the companies ordinance chapter 32, no. Section 48b1 of the ordinance provides that when a company issues shares at a premium, whether for cash or otherwise. It has brought with it a number of important changes in relation to execution of company documents. Companies winding up and miscellaneous provisions ordinance t10 cap.
New companies ordinance in hong kong how does the new. Takeovers and mergers and share buybacks issued by the. Technical update updates on auditors reporting with. The new co replaces the current companies ordinance cap. Registrar may agree to delivery by electronic means for. Apple is good means to find documents having the exact phrase apple is good. In these articles, unless there is something in the subject or context inconsistent therewith.
New articles of association under the new hong kong. The new ordinance replaces those provisions in the old companies ordinance, cap. The companies ordinance chapter 32 company limited by guarantee and not having a share capital articles of association of asia pacific stroke organisation limited 1. An evaluation of current proposals to amend companies. Schedule 6 information to be contained in annual return and documents by which annual return must be.
A practical introduction to the new companies ordinance. Cap 32 companies ordinance 2 court means the court of first instance. As part of phase ii rewrite, we plan to merge all the windingup related provisions remaining in cap 32 with the new co2. Hks new companies ordinance, cap 622, cwumpo cap 32. Expressions referring to writing shall, unless the contrary intention appears, be construed as including references to. Execution of company documents under the new companies. The hong kong companies ordinance chapter 622 of hong kong laws, hereafter the new co. The new companies ordinance highlights of some major.
An ordinance to provide for the incorporation, regulation, and winding up of trading companies and other associations, with. Crossheading repealed crossheading repealed crossheading repealed crossheading repealed crossheading repealed 69a. Without prejudice to the generality of the powers of the court under section 290, an order under that section may provide for a the termination, setting aside or modification of any agreement, howsoever arrived at between the company and any director, including. Accounting reference period is the term used in the new hong kong companies ordinance cap. Cfreds third company law colloquium perspectives on. Registration of a company name with the companies registry does not confer any trade mark rights or any. Near apple, lemon, 2, false means to find documents having apple within 2 words apart from lemon. This publication from deloitte hong kong gives a highlevel illustration of areas of the new companies ordinance co that may have accounting implications. Schedule 9 consequential and related amendments to companies ordinance cap. An evaluation of current proposals to amend companies ordinance cap. Slaughter and may new hong kong companies ordinance.
Authorised and regulated in hong kong by the securities and futures commission. Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid shares or partly in one way. Please also see section 98 of the companies ordinance 28 of. Before cap 32 there had been the companies ordinance 1865 based on the uk act 1862 and the companies ordinance 1911. This article is the third of the series of the articles on the new companies ordinance cap. Content of the new hong kong companies ordinance appendix 1 new hong kong companies ordinance march 2014. The institutes working group on companies ordinance considers this alternative practice as equally acceptable when the date of the auditors report itself is after the commencement date of new ordinance i. Cap 32 companies winding up and miscellaneous provisions ordinance.
When the companies bill the bill is enacted1, all the provisions in the existing co, except those provisions to be tackled in phase ii rewrite and provisions on prospectuses, will be repealed. The new co will replace the current hong kong companies ordinance cap. Download pdf download word introduction key changes the new companies ordinance cap. Ordinance means the companies ordinance, chapter 32. Mark f the companies ordinance chapter 32 company limited by guarantee and not having a share capital articles of association of hong kong skating union limited. The name of the company is management consultancies association of hong kong limited. Companies ordinance cap 622 part 2 relevant to aat. Legislative council brief companies ordinance chapter 32. Bills committee on companies bill overall policies of the. The new co contains over 900 sections and 11 schedules. The companies ordinance, 1984 iii of a private company, two members 31 service and authentication of documents 48.
Hks new companies ordinance a mouthful posted on by morgan posted in companies windingup and miscellaneous provisions ordinance cap 32, companies ordinance, hong kong hong kongs new companies ordinance cap 622 comes into force 3 march 2014. The major changes introduced by the new ordinance to modernise the law, enhance corporate governance, ensure better regulation and facilitate business have been covered in the first two articles which were published in the march and april editions of hong. Structure of the new companies ordinance divided into 21 parts, comprising 921 sections and 11 schedules 12 subordinate legislation. The name of the company is the tanzania chamber of commerce, industry and agriculture. Companies ordinance cap 622 part 2 relevant to aat examination paper 6 fundamentals of business law ck chang, kw sin and lp chan introduction the new companies ordinance, chapter 622 of the laws of hong kong the co, came into operation on 3 march 2014. New articles of association under the new hong kong companies ordinance 1. The registered office of the company will be situated in the united. The provisions of the old ordinance relating mainly to prospectuses and insolvency shall. Civil liability contribution ordinance cap 377 payment systems and stored value facilities ordinance cap 584 clubs safety of premises ordinance cap 376 commodities trading ordinance cap 250 repealed 2002 companies winding up and miscellaneous provisions ordinance cap 32 companies ordinance cap 622 competition ordinance cap 619. Posted on by morgan posted in companies windingup and miscellaneous provisions ordinance cap 32, companies ordinance, insolvency, winding up as most of you are aware, earlier this year the new companies ordinance came into force.
In practice, sections 166 to 167 are rarely used given the high cost involved. The regulations contained in table c in the first schedule to the companies ordinance shall not. These two areas will remain in the existing ordinance which will then be renamed the companies winding up and miscellaneous provisions ordinance. Hong kong new companies ordinance hong kong business. Allowing all types of companies whether listed or unlisted to provide.
Sfc authorisation is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its. The core provisions affecting the operation of companies under the old co have been repealed, except. Please also see section 98 of the companies ordinance cap 622. The registered office of the company will be situate in the territory of hong kong.
158 1113 617 322 595 1236 717 440 470 1387 766 1347 1085 525 1129 990 1292 1435 227 1545 1332 199 464 10 438 346 198 8 593 1149 692 1386 433 690 1244 1163 495 344