Not known Facts About company secretary hong kong requirements
The sole director of a private company can't even be the company secretary (i.e. on the list of company’s administrators might be the company secretary only when there is multiple director in place);
A Hong Kong company secretary’s duties and duties are various. It ranges from administrative to administration functions. The subsequent are many of the Main responsibilities of the corporate secretary:
Portion 154(1AA) of the predecessor Ordinance, as in pressure promptly right before its repeal, applies in relation to the company shaped and registered underneath a provision in the predecessor Ordinance aquiring a continuing effect below this Routine or by advantage of section 23 on the Interpretation and Common Clauses Ordinance (Cap 1). 94. Records of conferences of administrators
L.N. 163 of 2013 03/03/2014 If a company makes a distribution consisting of or like a non-hard cash asset, and any part of the quantity at which the asset is stated while in the referential economic statements represents an unrealized earnings, that Section of that amount will be to be thought to be a realized profit for the goal of deciding, in advance of or once the distribution, the lawfulness of your distribution in accordance with this particular Portion.
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(5) The administrators of the company will have to not specify a brand new accounting reference day in relation to an accounting reference period so as to extend the time period to longer than eighteen months. (six) The directors of a company ought to not specify a different accounting reference date in relation to The present or preceding accounting reference period In order to increase that time period if— (a) Individuals directors have specified a fresh accounting reference date in relation to an previously accounting reference period so as to extend that precedent days; and (b) the sooner accounting reference period ended inside of 5 years ahead of the new accounting reference day is specified. (seven) Subsection (6) isn't going to use if— (a) The brand new accounting reference day to be specified by the directors coincides Using the accounting reference date of a holding company in the company; or (b) the specification is accredited by a users’ resolution. (eight) If a company contravenes subsection (two), the company, and each liable individual of your company, commit an offence, and every is liable to your good at degree 3 and, in the case of a continuing offence, to a further wonderful of $300 for each day through which the offence carries on. (9) During this segment— previous accounting reference period of time(對上的會計參照期), in relation to your company, signifies the accounting reference period of the company straight away preceding the company’s recent accounting reference period. Aspect: Division: 9 four Preparation of economic Statements and Administrators’ Reports
A detailed small business in Hong Kong can only have 1 company secretary, and that applicant need to meet sure educational qualifications or associated practical experience requirements, including: Staying a lawyer or barrister; or
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L.N. 163 of 2013 03/03/2014 (1) The Registrar may perhaps provide a notice on a registered non-Hong Kong company if pleased that a corporate identify or authorised name of the company— (a) is similar to or is just too like— (i) a name that seems, or should have appeared, inside the index of names kept beneath part 22C of your predecessor Ordinance or during the Index of Company Names on the material day; or (ii) the name of a overall body corporate incorporated or founded underneath an Ordinance before the fabric day; or (b) presents so misleading a sign of the character with the company’s routines in Hong Kong as being likely to induce hurt to the public.
L.N. 163 of 2013 03/03/2014 (one) A affliction that right away ahead of the commencement day* of the Division was contained within the memorandum of association of the existing company and was in drive is, for all reasons, being considered a provision of your company’s content. (two) If a memorandum of association is registered on or following the commencement day* of this Division beneath the company formation australia provisions possessing a continuing outcome below Timetable 11, a condition contained in that memorandum is, for all functions, being regarded as a provision from the company’s posts registered underneath the predecessor Ordinance. (three) If, ahead of the commencement day* of the Division, a Specific resolution altering a condition of your memorandum of association of the present company was handed beneath segment 8(one) or 25A(one) on the predecessor Ordinance as well as alteration usually takes effect on or after that date, then the altered problem is, for all needs, to become viewed as a provision from the company’s content articles registered under the predecessor Ordinance.
(three) A letter need to be resolved— (a) to a licensed consultant of your registered non-Hong Kong company whose essential aspects are revealed in the businesses Register; or (b) if no essential details of approved representatives with the company are demonstrated in the businesses Register, to anyplace of organization founded by the company in Hong Kong. (four) The Registrar is not really needed to ship a letter on the registered non-Hong Kong company less than subsection (two)(a) If your Registrar is of the opinion which the letter is unlikely to be acquired because of the company. Part: 798 Registrar might strike off registered non-Hong Kong company’s identify
(3) The Economical Secretary should not appoint anyone underneath subsection (two) to investigate a company’s affairs Until the Fiscal Secretary is content that it is in the general public curiosity to take action. (4) The Fiscal Secretary may possibly appoint someone underneath subsection (two) to investigate a company’s affairs Despite the fact that the company is during the course of staying wound up voluntarily. Area: 842 Observe of appointment as inspector to generally be delivered to Registrar
It is additionally noteworthy that any company which does not hire a reliable company secretary might not be listed within the Stock Exchange.
Cap 622 - Providers Ordinance 182 Part: 488 Director or previous director connected with human body corporate L.N. 163 of 2013 03/03/2014 (one) To the functions of the Portion, a director or former director is related to a system corporate if— (a) the director or former director, or any a number of on the entities laid out in subsection (3), or maybe the director or former director along with any a number of of These specified entities, are entitled to training, or Regulate the physical exercise of, more than thirty% from the voting electrical power at any general Assembly of that physique corporate; or (b) the administrators, or even a vast majority of the directors, of that overall body corporate are accustomed to act in accordance While using the Instructions or Guidelines of— (i) the director or former director; or (ii) an entity connected While using the director or previous director. (two) With this part, a reference to voting power the training of which happens to be controlled by a director or former director, or by an entity laid out in subsection (3), incorporates voting electricity the work out of which happens to be managed by Yet another overall body corporate When the director or former director, or any a number of of the specified entities, or perhaps the director or previous director along with any a number of of the desired entities, are entitled to workout, or Manage the training of, more than 50% of the voting electricity at any normal Conference of that other body corporate.