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Portion fifty five with the predecessor Ordinance, as in force instantly prior to its repeal, proceeds to apply to a rise in a company’ s share money if the resolution authorizing the rise was handed ahead of the commencement date* of section 171. 28. Description of shares of different lessons

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Examples— 1. A company could extinguish or decrease the legal responsibility on any of its shares in regard of share money not paid up. two. A company may, both with or without the need of extinguishing or lessening liability on any of its shares— (a) cancel any paid out-up share cash that may be misplaced or unrepresented by available assets; or (b) repay any compensated-up share capital in excessive from the company’s wishes. (two) Even so, a company must not reduce its share money if, due to the reduction, there would not be any member of the company holding shares apart from redeemable shares. (3) This Division is matter to any provision of the company’s posts that prohibits or restricts the reduction on the company’s share money. Area: 211 Process for the company to cut back its share money L.N. 163 of 2013 03/03/2014 The process for the company to cut back its share money below this Division is— (a) by Exclusive resolution supported by a solvency assertion underneath Subdivision two; or (b) by Specific resolution confirmed with the Court underneath Subdivision 3. Segment: 212 Offence if share money is reduced in contravention of Division

Based on the company secretary necessity Hong Kong, a company secretary is suggested to get a member of HKCGI.

Cap 622 - Providers Ordinance 259 more time exceeds the value from the thought specified in These terms. (three) For your uses of the Division, shares that an affiliate on the offeror, or simply a nominee about the offeror’s behalf, retains, or has contracted, unconditionally or matter to circumstances staying satisfied, to accumulate, regardless of whether at the day of your takeover provide or subsequently, usually are not to be considered to be shares to which offering relates, whether or not that supply extends to those shares. This subsection has influence subject to subsection (four). (four) For your needs of this Division, where by, following a takeover give is designed but ahead of the conclusion of the give time period, an associate in the offeror, or a nominee around the offeror’s behalf, acquires, or contracts unconditionally to acquire, any of your shares to which the present relates, the shares are being considered shares to which the provide relates if— (a) the worth on the thing to consider for which the shares are obtained, or contracted to get acquired, at the time of the acquisition or deal, isn't going to exceed the worth on the consideration specified in the phrases in the provide; or (b) All those phrases are subsequently revised so that in the event the revision is declared, the value on the consideration for which the shares are acquired, or contracted to become acquired, at some time with the acquisition or contract, not exceeds the worth in the thing to consider specified in These conditions. Area: 692 Revised offer to not be considered fresh new give L.N. 163 of 2013 03/03/2014 To the purposes of this Division, a revision of your conditions of an offer to obtain shares is to not be considered to be the generating of the fresh new supply if— (a) the terms of the provide make provision for— (i) their revision; and (ii) acceptances over the preceding conditions to get taken care of as acceptances to the revised phrases; and (b) the revision is built in accordance with that provision. Aspect: Division: Subdivision: 13 four two “Squeeze-out” L.N. 163 of 2013 03/03/2014 Part: 693 Offeror may possibly give see to obtain out minority shareholders L.N. 163 of 2013 03/03/2014 (one) If, in the case of the takeover provide that does not relate to shares of various lessons, the offeror has, by virtue of acceptances in the present, obtained, or contracted unconditionally to obtain, no less than ninety% in amount of the shares to which the present relates, the offeror could give observe for the holder of every other shares to which the offer relates which the offeror desires to acquire those shares.

A corporate secretary in Hong Kong really should not be confused with only a secretary who performs regular clerical do the job.

A detailed business enterprise in Hong Kong can only have one particular company secretary, Which applicant must satisfy particular educational qualifications or connected knowledge requirements, which include: Remaining a legal professional or barrister; or

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(4) If a company contravenes subsection (one), the company, and every responsible person of your company, dedicate an offence, and every is liable to a good at amount 4 and, in the case of a continuing offence, to an extra good of $seven hundred for daily all through which the offence continues. (five) In this portion— small business working day(營業日) signifies a day on which a regarded stock market is open to the organization of working in securities. Area: 324 Courtroom purchase for shipping and delivery of debenture or certificate for debenture stock

(2) The document or data is shipped or equipped to that other person for your needs of the relevant provision When the document or details is distributed or provided— (a) by hand to that other man or woman; or (b) by hand or by submit to an tackle specified in portion 825. (3) To the applications of an applicable provision that authorizes or needs the document or details to get authenticated, the doc or information is adequately authenticated whether it is signed by a director or company secretary with the company or by an officer of your company licensed with the purpose. (4) In case the document or details is sent or provided by somebody on behalf in the company to another company, subsection (three) will not impact any provision of that other company’s article content beneath which that other company may involve fair evidence of the person’s authority to act on behalf with the company for which the doc or information and facts is shipped or equipped. (five) When the document or facts is distributed or provided to that other human being for the needs of the relevant provision, it is actually to get considered to be currently being received by that other person— (a) exactly where the document or data is shipped or supplied by put up, at the time laid out in portion 824, Except the contrary is proved; or (b) wherever the doc or data is shipped or supplied by hand, at some time in the event the document or information is sent. Part: 833 Conversation by the use of Web page L.N. 163 of 2013 03/03/2014 formation company login (1) Matter to subsection (two), this area applies if a document or facts is distributed or provided by a company to another man or woman by rendering it accessible on a web site. (two) This segment isn't going to apply In case the doc or data is distributed or provided by a member of the company on the company. (3) The document or information is distributed or supplied to that other man or woman for that uses of an relevant provision if— (a) that other person— (i) has agreed, frequently or specially, that the doc or info may be despatched or provided through the

L.N. 163 of 2013 03/03/2014 (one) With no prescribed approval of its users, a specified company must not— (a) enter into a credit transaction as creditor for— (i) a director with the company; or (ii) an entity related with this type of director; or (b) give a guarantee or give security in connection with a credit rating transaction entered into by any person as creditor for this type of director or an entity connected with this kind of director. (2) With no prescribed acceptance of its customers along with the prescribed approval in the holding company’s members, a specified company will have to not— (a) enter into a credit transaction as creditor for— (i) a director of the Keeping company on the company; or (ii) an entity linked with this kind of director; or (b) give a guarantee or offer safety in connection with a credit rating transaction entered into by any person as creditor for this kind of director or an entity related with this kind of director.

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(3) Neither subsection (one) nor subsection (2) operates to take care of A non-public supply of shares or debentures, or a private invitation to subscribe for shares or debentures, as a suggestion or invitation designed to the public. (four) Particularly— (a) a provision inside a company’s posts prohibiting Invites to the public to subscribe for shares or debentures is never to be viewed as prohibiting A non-public invitation to subscribe for shares or debentures to be built to associates or debenture holders; and (b) the provisions of the Ordinance regarding private providers are for being construed accordingly. (five) In this particular section, a proposal of shares or debentures, or an invite to subscribe for shares or debentures, is a private