5 Simple Techniques For hong kong company secretary's practice manual
5 Simple Techniques For hong kong company secretary's practice manual
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(one) To the functions of the Ordinance, an enterprise is actually a mother or father endeavor of another enterprise if— (a) exactly where the two undertakings are bodies corporate, This is a Keeping company of that other endeavor; or (b) in any other situation— (i) it holds a the vast majority in the voting rights in that other enterprise; (ii) It is just a member of that other enterprise and has the proper to appoint or eliminate a the greater part of that other undertaking’s board of directors; or (iii) This is a member of that other endeavor and controls alone, pursuant to an agreement with other shareholders or users, a majority in the voting legal rights in that other enterprise.
Cap 622 - Companies Ordinance 137 Section: 371 Alteration of accounting reference day L.N. 163 of 2013 03/03/2014 (1) The administrators of a company could specify a brand new accounting reference day in relation to— (a) the company’s latest accounting reference period and each subsequent accounting reference time period; or (b) the company’s prior accounting reference interval and every subsequent accounting reference period of time. (2) If the administrators of a community company or maybe a company restricted by assure specify a brand new accounting reference day less than subsection (one), the company should, in 15 times following the day of the directors’ resolution specifying The brand new accounting reference day, deliver a see, in the specified sort, of that new day towards the Registrar for registration. (3) A administrators’ resolution by which a fresh accounting reference date is specified, in addition to a discover of that new date shipped to the Registrar, have to point out— (a) regardless of whether The existing or previous accounting reference period of time concerned is usually to be shortened, so as to end on the 1st event on which the new accounting reference date falls or fell right after the beginning of that time period; or (b) regardless of whether the current or former accounting reference period of time worried is always to be extended, in order to stop on the next celebration on which the new accounting reference date falls or fell after the beginning of that period. (4) The administrators of the company must not specify a different accounting reference day in relation for the former accounting reference period if— (a) the period of time for laying ahead of the company usually meeting under part 429 a duplicate with the reporting paperwork with the financial calendar year determined by reference to that accounting reference time period has expired; or (b) the time period for sending a copy in the reporting documents for your fiscal 12 months to your customers beneath area 430(three) has expired.
Cap 622 - Businesses Ordinance 264 (2) For your needs of section 703, the holder of shares would be to be considered not owning exercised the rights to require the offeror to accumulate the shares Except, at any time prior to the conclude in the time period through which Those people legal rights are exercisable— (a) in the situation of a takeover present that doesn't relate to shares of various courses, the shares which the offeror has, by virtue of acceptances of your offer you, obtained or contracted unconditionally to accumulate, with or with no other shares from the company the offeror has obtained, or has contracted unconditionally to acquire, depict not less than ninety% in quantity of the shares within the company; or (b) in the situation of the takeover present that relates to shares of various classes, the shares of any course which the offeror has, by advantage of acceptances of the supply, acquired or contracted unconditionally to acquire, with or with no other shares of that class which the offeror has acquired, or has contracted unconditionally to obtain, stand for at the very least 90% in variety of the shares of that class. Portion: Division: 13 5 Obligatory Acquisition immediately after Basic Supply for Share Obtain-back
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Watch out not To combine up a “company secretary” having a “secretary” who may possibly only handle clerical duties. An officially appointed company secretary of the company plays a much more Sophisticated purpose within the lawful servicing of the company.
A corporate secretary in Hong Kong shouldn't be bewildered with only a secretary who performs ordinary clerical function.
L.N. 163 of 2013 03/03/2014 (one) With no prescribed approval of its users, a company need to not make a payment for loss of office to a director or previous director in the company. formation company in bulgaria (two) Without the prescribed acceptance of its users along with the prescribed acceptance from the holding company’s users, a company must not generate a payment for loss of office to some director or previous director of a holding company of your company. (3) Even with subsection (two)— (a) a company may enter to the transaction with just the prescribed acceptance of its associates if the Keeping company is incorporated outside the house Hong Kong; and (b) a company could enter in the transaction with just the prescribed acceptance in the holding company’s customers whether it is a wholly owned subsidiary on the holding company, and also the Keeping company is incorporated in Hong Kong.
Cap 622 - Businesses Ordinance 212 (a) can be despatched towards the company in challenging duplicate form or in electronic type; and (b) need to be authenticated by the member or by a person performing over the member’s behalf.
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(two) During this Part, a reference towards the charged house of a non-Hong Kong company registered beneath Portion XI with the predecessor Ordinance is often a reference to— (a) the assets in Hong Kong of the company and subject to a charge created by the company, except home that was not in Hong Kong in the event the demand was made; or (b) the assets in Hong Kong of your company and subject matter to your cost that subsisted once the home was acquired by the company, apart from residence that was not in Hong Kong when it was so obtained. sixty three. Charge produced by company
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(3) Neither subsection (one) nor subsection (two) operates to treat A personal offer you of shares or debentures, or a private invitation to subscribe for shares or debentures, as a suggestion or invitation created to the public. (four) Particularly— (a) a provision within a company’s content articles prohibiting invitations to the general public to subscribe for shares or debentures is to not be considered prohibiting a private invitation to subscribe for shares or debentures to be manufactured to members or debenture holders; and (b) the provisions of this Ordinance concerning private corporations are to become construed appropriately. (five) On this part, an offer of shares or debentures, or an invitation to subscribe for shares or debentures, is A personal