A Review Of company secretary hong kong qualification
Cap 622 - Businesses Ordinance 244 variation amongst a word or text needed to be Component of the name along with a permitted abbreviation of that term or People phrases (or vice versa) is always to be disregarded. Portion: 660 Felony consequences of failure for making needed disclosures
A Hong Kong company secretary’s duties and tasks are numerous. It ranges from administrative to management capabilities. The following are a lot of the Most important responsibilities on the corporate secretary:
In Hong Kong, precise duties has to be fulfilled for a great business enterprise establishment and administration to come about. Company secretaries are not just there to refill spaces, they've got Main compliance duties to perform.
L.N. 163 of 2013 03/03/2014 (one) If a registered non-Hong Kong company is served which has a discover under section 780(1) for your corporate identify or for an authorised name in relation to your corporate title, the company may implement, in writing, on the Registrar for approval of another name, in relation to your corporate name, beneath which the company is to hold on business enterprise in Hong Kong. (2) An software must be delivered to the Registrar. (3) On obtaining an software for approval of a reputation, the Registrar have to approve the name Except if pleased the title— (a) is the same as or is just too like— (i) a reputation that seems, or should have appeared, inside the Index of Company Names; or (ii) the name of a system corporate incorporated or recognized underneath an Ordinance; or (b) provides so misleading an indication of the character in the registered non-Hong Kong company’s actions in Hong Kong as being very likely to induce damage to the general public.
Irrespective of whether you’re a qualified small business particular person or newbie, Hong Kong is an efficient spot, has powerful rules, along with a occupied financial system, making it a very good spot for your business.
Cap 622 - Corporations Ordinance 152 Segment: 410 Skilled privileges L.N. 163 of 2013 03/03/2014 (1) Within the absence of malice, an auditor of the company is just not liable to any motion for defamation within the match of any person in respect of any statement created by the auditor from the course of executing duties as auditor in the company. (2) Inside the absence of malice, somebody will not be liable to any action for defamation on the go well with of anyone in respect in the publication of any doc— (a) prepared by an auditor of a company during the course of executing duties as auditor on the company; and (b) essential by this Ordinance— (i) to generally be sent to the Registrar; or (ii) to generally be sent to any member in the company or some other human being. (3) This portion won't limit or have an impact on another ideal, privilege or immunity that an auditor of a company, or almost every other human being, has as defendant in an action for defamation. (four) In this part, a reference to accomplishing duties as auditor of the company features— (a) building a cessation statement, giving the statement to your company, and requesting the company to comply with the prerequisite specified in section 422(five) in relation on the assertion; and (b) building a press release of situations, and providing the statement on the company. Area: 411 Rights in relation to basic Conference L.N. 163 of 2013 03/03/2014 (one) A person appointed as auditor of a company is entitled— (a) to attend any of your company’s general meetings; and (b) to become listened to, at any from the company’s typical conferences, on any Section of the business enterprise in the Assembly that issues the person as auditor with the company. (two) An individual’s entitlement underneath subsection (1)(a) or (b) is, if the person is usually a business or physique corporate, exercisable by a normal human being approved by the individual to work as the person’s representative for the meeting.
For the applications in the operation of the Ordinance on and once the commencement date* of section a hundred thirty five in relation to the share issued in advance of that commencement day*— (a) the amount paid out about the share is the sum of all amounts paid towards the company Anytime with the share; and (b) the quantity remaining unpaid to the share is the difference company formation services packages between the issue cost of the share and the quantity paid out about the share. 37. Remedy of share quality account and cash redemption reserve
(one) This segment applies if, at the end of a financial year, a company will be the subsidiary of Yet another enterprise. (2) The company’s fiscal statements to the economic calendar year must contain, within the notes on the statements— (a) the name on the enterprise regarded by the directors as becoming the company’s top father or mother enterprise; and (b) the following information concerning that enterprise as acknowledged to the administrators— (i) if that undertaking is often a physique corporate, the region through which it's incorporated; (ii) if that enterprise isn't a human body corporate, the deal with of its principal spot of business enterprise. four. Compliance with applicable accounting standards
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Cap 622 - Corporations Ordinance 228 (two) A company ought to give notice of the resolution if it's acquired requests that it do this from— (a) the users with the company symbolizing a minimum of 2.five% of the entire voting rights of the many users which have a right to vote around the resolution for the once-a-year common Conference to which the requests relate; or (b) a minimum of 50 associates who may have a suitable to vote on the resolution on the once-a-year typical Assembly to which the requests relate.
Cap 622 - Businesses Ordinance sixty eight company. Section: 195 Group reconstruction reduction L.N. 163 of 2013 03/03/2014 (1) This part applies if an issuing company— (a) is an entirely owned subsidiary of Yet another company (the holding company); and (b) concerns shares— (i) into the Keeping company; or (ii) to another wholly owned subsidiary on the holding company, in thing to consider to the transfer on the issuing company of non-money assets of a company (the transferor company) that is a member from the group of organizations that comprises the holding company and all its wholly owned subsidiaries. (two) Any extra of the worth of the assets transferred over their Web foundation price may very well be disregarded when recording as share cash on the issuing company the level of thought for the issue by the issuing company of its shares. As a result, the minimum amount of thought needed to be recorded as share capital in the issuing company in regard of the shares issued for the transfer is The online base price of the assets transferred. (3) The web base price of the property transferred is the quantity by which The bottom value of the property transferred exceeds The bottom worth of any liabilities of the transferor company assumed via the issuing company as thing to consider for that property transferred. (four) For your functions of the part— (a) The bottom price of assets transferred would be the lesser of— (i) the cost of People property towards the transferor company; (ii) the amount at which People assets are stated from the transferor company’ s accounting data instantly before the transfer; (b) The bottom price of liabilities assumed is the amount at which These are mentioned inside the transferor company’s accounting information right away ahead of the transfer. Section: 196 Merger relief L.N. 163 of 2013 03/03/2014 (one) This section applies if an issuing company has secured at the least a 90% fairness Keeping in A further company less than an arrangement furnishing for The difficulty of equity shares within the issuing company on terms which the thought for that shares issued would be to be provided— (a) by The difficulty or transfer towards the issuing company of equity shares in the opposite company; or (b) from the cancellation of any equity shares in another company not held through the issuing company.
(2) Nothing in this Subdivision influences any provision of a company’s content authorizing the company to go a resolution and not using a meeting, if not than in accordance using this type of Subdivision. (three) Subsection (2) applies only if the resolution is agreed to by each of the members on the company who will be entitled to vote on the resolution.
Your company secretary is accountable for making certain all statutory returns are filed promptly and precisely. A few of the most typical returns contain: