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Cap 622 - Providers Ordinance 103 (four) The payment is— (a) a payment made by the company in regard from the obtain-back through the company of shares in alone (apart from a payment lawfully manufactured normally than from distributable gains); or (b) a payment created by the company of any description laid out in section 257(5) (apart from a payment lawfully created otherwise than away from distributable revenue). (5) In this segment— liabilities(負債) has the indicating offered by part 274(1); net property(淨資產), in relation to the company that provides any economical support, suggests the amount by which the combination with the company’s assets exceeds the combination of its liabilities (getting the quantity of both equally property and liabilities to be as said from the company’s accounting information immediately ahead of the monetary aid is offered); net liabilities(淨負債), in relation to the company that offers any economic assistance, indicates the amount by which the combination in the company’s liabilities exceeds the aggregate of its belongings (getting the quantity of equally assets and liabilities to become as mentioned inside the company’s accounting information right away prior to the economical aid is given).
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Section: 468 Avoidance of provisions defending director from legal responsibility L.N. 163 of 2013 03/03/2014 (1) This section applies to a provision contained in the company’s posts, or within a contract entered into by a company, or usually. (two) If a provision purports to exempt a director on the company from any liability that will otherwise attach to your director in reference to any negligence, default, breach of responsibility or breach of have faith in in relation into the company, the provision is void. (3) If, by a provision, the company directly or indirectly presents an indemnity for a director in the company, or perhaps a director of the affiliated company in the company, in opposition to any legal responsibility attaching to the director in connection with any carelessness, default, breach of responsibility or breach of belief in relation for the company or affiliated company (as the case can be), the provision is void. (four) Subsection (three) isn't going to prevent a company from getting out and preserving in force insurance plan for your director of the company, or maybe a director of the associated company with the company, in opposition to— (a) any liability to any person attaching on the director in reference to any carelessness, default, breach of responsibility or breach of believe in (apart from fraud) in relation into the company or involved company (as the situation may be); or (b) any liability incurred through the director in defending any proceedings (whether or not civil or felony) taken versus the director for just about any carelessness, default, breach of responsibility or breach of trust (like fraud) in relation to the company or linked company (as the case can be).
Section 162B with the predecessor Ordinance, as in power immediately in advance of its repeal, continues to apply in relation to the agreement laid out in that part and entered into before the commencement day* of area 545. Element 12
(five) In Division six, a reference towards the billed house of the registered non-Hong Kong company is really a reference to— (a) the home in Hong Kong from the company and subject to the demand designed via the company, except residence that was not in Hong Kong when the demand was made; or (b) the home in Hong Kong from the company and subject matter to your demand that subsisted if the house was
Take note— Paragraph (b) of the proviso to segment 57 in the predecessor Ordinance calls for the sanction on the court being attained ahead of the payment is produced. 34. Aid from share funds requirements
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Segment: 335 Company ought to sign up specified charge produced by it L.N. 163 of 2013 03/03/2014 (1) A company will have to supply an announcement in the particulars of each specified charge designed because of the company, along with a Qualified copy from the instrument (if any) developing or evidencing the demand, into the Registrar for registration inside the registration interval laid out in subsection (five)(a). (2) Wherever— (a) a specified charge produced by a company— (i) is given within a debenture forming Element of a collection by reference to some other instrument containing the demand (whether also contained from the debenture); or (ii) is contained in a debenture forming part of a collection (but not provided while in the debenture by reference to every other instrument); and (b) each and every holder of the debentures of the sequence is entitled equally to the advantage of the cost, the company will be to be considered to be obtaining complied with subsection (1) in relation to the required demand In the event the
Corporate secretaries oversee regulatory tasks of companies. This includes helping the board of directors in being familiar with and Conference all applicable regulatory difficulties, guaranteeing the corporation operates throughout the bounds in the law.
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Segment: 455 Nomination of reserve director of private company L.N. 163 of 2013 03/03/2014 (1) If A non-public company has only one member Which member is the only director with the company, the company may perhaps by a resolution handed at a general meeting, In spite of anything in its articles or blog posts, nominate anyone (in addition to a body corporate) who may have attained the age of 18 years to be a reserve director with the company to act during the position of the sole director within the celebration of the only director’s Dying. (two) The nomination of somebody for a reserve director of A non-public company ceases to get effect if— (a) ahead of the Loss of life on the director in respect of whom the person was nominated— (i) the individual resigns as reserve director in accordance with area 464; or (ii) the company at a typical Assembly revokes the nomination; or (b) the director in regard of whom the person was nominated ceases to be the only member and sole director on the company for just about any cause apart from the Demise of that director.
(3) A company will not be necessary to deliver a detect underneath this area in relation to an alteration of share capital involving an allotment of shares. Take note— For an allotment of shares, portion 142 requires a company to provide a return from the allotment to the Registrar for registration. (4) If a company contravenes subsection (1), the company, and each accountable human being in the company, dedicate an offence, and each is liable to some fine at amount 4 and, in the case of a continuing offence, to an additional fine of $seven hundred for daily in the course of which the offence carries on. Part: 172 Redenomination of share capital L.N. 163 of 2013 03/03/2014 (1) A confined company may well, by resolution from the company, change its share money or any course of shares from a person currency to another currency. This is recognized as a redenomination. (two) A resolution underneath this portion may possibly authorize a confined company to redenominate its share capital— (a) on more than one situation; (b) at a specified time or in specified conditions. (three) A redenomination would not impact any rights or obligations of associates under the company’s content articles, or any restrictions impacting customers under the company’s content articles. (four) Specifically, it doesn't impact any entitlement to dividends (which include entitlement to dividends in a certain currency), voting rights or liability in respect of amounts remaining unpaid on shares (which includes legal responsibility in a specific forex). (five) For the reasons of this portion, the company’s posts consist of the terms on which any shares company formation with bank account from the company are allotted or held. (six) A constrained company’s content articles may well exclude or restrict the training of a power conferred by this portion.
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