An offer in connection with a takeover or merger or a share buyback which. Please also see section 98 of the companies ordinance cap 622. Hks new companies ordinance, cap 622, cwumpo cap 32. New articles of association under the new hong kong. Sfc authorisation is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its. Structure of the new companies ordinance divided into 21 parts, comprising 921 sections and 11 schedules 12 subordinate legislation. The new co replaces the current companies ordinance cap. Takeovers and mergers and share buybacks issued by the. In these articles, unless there is something in the subject or context inconsistent therewith. As part of phase ii rewrite, we plan to merge all the windingup related provisions remaining in cap 32 with the new co2. The companies ordinance, 1984 iii of a private company, two members 31 service and authentication of documents 48. Content of the new hong kong companies ordinance appendix 1 new hong kong companies ordinance march 2014. This article is the third of the series of the articles on the new companies ordinance cap. Companies winding up and miscellaneous provisions ordinance t10 cap.
The registered office of the company will be situate in the territory of hong kong. Near apple, lemon, 2, false means to find documents having apple within 2 words apart from lemon. New articles of association under the new hong kong companies ordinance 1. The current hong kong company law, the companies ordinance 1932, cap 32, came into operation on 1 july 1933.
Under the companies ordinance cap 32 co, a company must hold an annual general meeting agm either by way of a traditional meeting or by way of a written resolution. 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. The name of the company is management consultancies association of hong kong limited. Hong kong new companies ordinance hong kong business.
Threadneedle lux pan european small cap opportunities. Companies ordinance cap 622 part 2 relevant to aat. Limited company may have directors with unlimited liability. The name of the company is the tanzania chamber of commerce, industry and agriculture. Expressions referring to writing shall, unless the contrary intention appears, be construed as including references to. 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. Every company must hold its first agm within 18 months of the companys incorporation. Authorised and regulated in hong kong by the securities and futures commission.
These two areas will remain in the existing ordinance which will then be renamed the companies winding up and miscellaneous provisions ordinance. Schedule 9 consequential and related amendments to companies ordinance cap. If you want to match the order of words, specify near apple, lemon, 2, true a percent sign % can be used to match zero or more characters. Ordinance means the companies ordinance, chapter 32. Cap 32 companies winding up and miscellaneous provisions ordinance. Effective date new co will come into operation on 3. New companies ordinance in hong kong how does the new. Allowing all types of companies whether listed or unlisted to provide. Cap 32 companies ordinance 2 court means the court of first instance. The new companies ordinance highlights of some major. The new co will replace the current hong kong companies ordinance cap. The core provisions affecting the operation of companies under the old co have been repealed, except. Download pdf download word introduction key changes the new companies ordinance cap.
In practice, sections 166 to 167 are rarely used given the high cost involved. The hong kong companies ordinance chapter 622 of hong kong laws, hereafter the new co. Registration of a company name with the companies registry does not confer any trade mark rights or any. Before cap 32 there had been the companies ordinance 1865 based on the uk act 1862 and the companies ordinance 1911. Schedule 6 information to be contained in annual return and documents by which annual return must be. Slaughter and may new hong kong companies ordinance. 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. 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. The new ordinance replaces those provisions in the old companies ordinance, cap. An evaluation of current proposals to amend companies ordinance cap. Such commission may be satisfied by the payment of cash or the allotment of fully or partly paid shares or partly in one way. The regulations contained in table c in the first schedule to the companies ordinance shall not. It has brought with it a number of important changes in relation to execution of company documents. Execution of company documents under the new companies.
Companies winding up and miscellaneous provisions ordinance. Bills committee on companies bill overall policies of the. Registrar may specify requirements for section 311 a3425 33. Accounting reference period is the term used in the new hong kong companies ordinance cap. Registrar may agree to delivery by electronic means for. Technical update updates on auditors reporting with. The new co contains over 900 sections and 11 schedules. An ordinance to provide for the incorporation, regulation, and winding up of trading companies and other associations, with. Registered in hong kong under the companies ordinance chapter 32, no. Legislative council brief companies ordinance chapter 32. Crossheading repealed crossheading repealed crossheading repealed crossheading repealed crossheading repealed 69a. 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. Please also see section 98 of the companies ordinance 28 of. Apple is good means to find documents having the exact phrase apple is good.
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 registered office of the company will be situated in the united. 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. An evaluation of current proposals to amend companies. This publication from deloitte hong kong gives a highlevel illustration of areas of the new companies ordinance co that may have accounting implications. Section 48b1 of the ordinance provides that when a company issues shares at a premium, whether for cash or otherwise.
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. It has opened up a new chapter in the regulation of companies in hong kong. The provisions of the old ordinance relating mainly to prospectuses and insolvency shall. 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. Cfreds third company law colloquium perspectives on. 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. A practical introduction to the new companies ordinance.
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