Companies ordinance cap 622 part 3 fundamentals of. No 32014 the new companies ordinance cap 622 a guide on directors duties, and iv. Under section 548 of the companies ordinance a written. Directors liabilities as mentioned before, the new co codifies directors duties to exercise. It does not introduce additional accounting, disclosure or legal. Near apple, lemon, 2, false means to find documents having apple within 2 words apart from lemon. A practical introduction to the new companies ordinance. Companies are obliged to observe their responsibilities to comply with the various. Corporate director it was required that there be at least. Unlimited company 2 contents section subdivision 2private company and public company page part 1 preliminary 11. Sections obligations prescribed period for compliance mode of trial penalties note obligations relating to articles of association part 3 incorporate alteration into articles of association 1.
Companies disclosure of company name and liability status regulation cap. In earlier articles in this series, we have discussed some. While section 465 of the companies ordinance does not apply directly to the directors of nonhong. Key performance indicatorsor kpis are defined in paragraph 5 of schedule 5 to the co as. On 3 march 2014, hong kongs new companies ordinance new co and its subsidiary legislation became effective 1. Short title and commencement a3363 division 2 interpretation of this ordinance.
The name of the company is the tanzania chamber of commerce, industry and agriculture. The essential corporate law in hong kong ilp abogados. Download pdf download word introduction key changes the new companies ordinance cap. This accounting bulletin provides general guidance on the requirements of section 436 of the hong kong companies ordinance cap. Companies ordinance cap 622 part 3 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 co, came into effect on 3 march 2014. The registered office of the company will be situated in the united. Relevant to aat examination paper 6 fundamentals of business law. This paper briefs members on the administrations proposal to amend certain provisions of the companiesnew ordinance new co cap. Major initiatives by the companies registry 84 appendix contributed by the companies registry measures for enhancing corporate governance strengthening the accountability of directors restricting the appointment of corporate directors by requiring every private company. No 22014 the new companies ordinance cap 622 guidelines issued by the registrar of companies iii. 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. Rm 2401,world trade bldg, 500 guangdong rd, huangpu district, shanghai, china. Guidance for the preparation and presentation of a.
Directors liabilities and indemnification under the. Nonprivate company limited by guarantee without a share capital 5. Introduction in this newsletter, we will discuss the key changes relating to the general meetings and shareholders written resolutions under the new companies ordinance cap. The companies ordinance chapter 622 public company. The carec first capital market regulators forum, organized by secp from 29 to 30 august, provides a platform for development leaders and industry experts to discuss solutions to global challenges faced by capital market regulators for better capital markets development in the carec region, which include the use of technology. Guidance on the requirements of section 436 of the hong. Under section 548 of the companies ordinance, a written resolution has the same effect as if the resolution were passed at a general meeting although it cannot be used for the purposes of removal of auditors or directors at the end of their term of office which must be done in a meeting. It has brought with it a number of important changes in relation to execution of company documents.
On 3 march 2014, an entirely new hong kong companies ordinance cap. Sample a articles of association for private companies. Private company limited by guarantee without a share capital 3. Companies ordinance gazette number version date long title. Notice of change of company secretary and director appointment cessation nd2a 2867 4579.
The core provisions affecting the operation of companies under the old co have been repealed, except. Directors duty of care, skill and diligence following in the footsteps of the other jurisdictions, section 465 of the new co codifies directors duty to. Introduction as a sequel of our newsletter about directors under the new companies ordinance cap 622 new co in december 20 and january 2014, this newsletter focuses on directors liabilities, indemnifications and exemptions, together with the directors insurance thereunder. Commencement of operation of the nonhong kong companies. Major changes part ii part 4 share capital the major changes in relation to share capital are the retirement of nominalauthorised share capital and nominalpar value of shares, the latter expressly abolished by the new co s. Types of companies that can be formed under the companies ordinance s. Sample a is a simplified form of articles of association for private companies limited by shares prepared on the assumption that the company adopting it will simplify its administration as far as possible under the companies ordinance cap 622. Full new companies ordinance chapter 622 companies registry. The new co consists of 21 parts, 921 sections and 11 schedules. These two provisions repeal section 792 and item 7 of schedule 7 of the new companies ordinance cap 622 the new.
Basic nonfiling obligations of a guarantee company under. Please set the page orientation to landscape for printing of bilingual texts on a single page. New hong kong companies ordinance march 2014 page 1 new hong kong companies ordinance the new hong kong companies ordinance, chapter 622 of the laws of hong kong, the new co came into operation on 3 march 2014. Questions from a company secretary presented by ms belinda wong, author, hong kong company secretarys practice manual, director, leader corporate services limited. Legislative council panel on financial affairs the new. Execution of company documents under the new companies. No 42014 the new companies ordinance cap 622 major changes in filing requirements. This is the same as the old law section 116b of the former companies ordinance. The new companies ordinance cap 622 new co, representing a comprehensive rewrite of the predecessor companies ordinance and containing more than 921 sections and 11 schedules, has entered its third year of operation since 3 march 2014. To print the whole chapter in html, please click at the bottom of the toc panel and then click. Accounting reference period is the term used in the new hong kong companies ordinance cap. Apple is good means to find documents having the exact phrase apple is good. The new companies ordinance new co is a comprehensive rewrite of the predecessor companies ordinance cap.
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