The Basic Principles Of company secretary hong kong qualification

The fiscal statements for the fiscal 12 months will have to condition— (a) whether they have already been well prepared in accordance With all the applicable accounting requirements throughout the meaning of section 380; and (b) if they have got not been so geared up, the particulars of, and the reasons for, any substance departure from These standards. Aspect two

(4) In advance of publishing a notice under this section, the company ought to— (a) provide a replica on the notice on the regarded exchange company that operates the inventory market on which the shares concerned are listed; and (b) obtain a certification from a certified officer of that exchange company which the duplicate is staying exhibited in accordance with subsection (5). (five) A identified exchange company must exhibit a duplicate of the observe gained below subsection (four)(a) in a conspicuous put around the premises on which the stock industry operates or make the see out there on its official Web page for your duration of no less than— (a) one particular thirty day period, for the discover that is not needed to be revealed below subsection (two)(b); or (b) three months, for any recognize that is required to generally be revealed underneath subsection (2)(b). (6) For your purposes of subsection (five), a failure to make a duplicate of a observe available on an exchange company’s official Web site throughout a time period pointed out in that subsection would be to be disregarded if— (a) the see is designed offered on the website for Element of that period; and (b) the failure is wholly attributable to conditions that it would not be reasonable to own anticipated that exchange company to forestall or avoid. (7) If the application was produced by an suitable person who is not the registered holder of the shares and doesn't have the registered holder’s consent to produce the application, the listed company— (a) ought to serve a copy in the see under this area within the registered holder by sending it by registered write-up on the registered holder’s final tackle showing up inside the register of associates from the company; and (b) should not publish the observe less than this section right until at least three months following the working day on which the copy was served. (8) With this portion—

A committed personal with expertise can perform The task just as well as a company service service provider. Nevertheless, a lot of people is not going to know someone who is familiar with how to deal with such matters.

Cap 622 - Companies Ordinance 22 forty nine(1) as being the correspondence handle will not be efficient to convey them towards the observe of the director, reserve director or company secretary in question; or (ii) it is necessary or expedient with the withheld tackle for being disclosed in connection with the enforcement of the buy or decree of the court; and (b) if the Court docket is content that it is appropriate to make the buy. (two) The Court might make an purchase for your disclosure by the Registrar of a withheld identification range— (a) if it's important or expedient for the number to be disclosed in connection with the enforcement of an order or decree of a court; and (b) When the Courtroom is happy that it is suitable to make the get.

Cap 622 - Companies Ordinance 259 for a longer time exceeds the worth in the consideration specified in All those terms. (three) With the applications of this Division, shares that an associate of the offeror, or simply a nominee around the offeror’s behalf, holds, or has contracted, unconditionally or subject to problems getting happy, to obtain, no matter whether for the day of the takeover provide or subsequently, aren't being thought to be shares to which which offer relates, even when that provide extends to People shares. This subsection has outcome subject to subsection (4). (four) For your reasons of this Division, wherever, following a takeover give is designed but prior to the finish on the offer you time period, an associate in the offeror, or possibly a nominee to the offeror’s behalf, acquires, or contracts unconditionally to amass, any from the shares to which the offer relates, the shares are for being considered to be shares to which the provide relates if— (a) the value on the consideration for which the shares are acquired, or contracted being acquired, at enough time of the acquisition or agreement, doesn't exceed the worth with the consideration specified in the terms of the offer you; or (b) People phrases are subsequently revised in order that in the event the revision is introduced, the worth on the consideration for which the shares are acquired, or contracted to be obtained, at some time of your acquisition or deal, now not exceeds the worth of the thing to consider laid out in Individuals terms. Portion: 692 Revised present to not be regarded as clean present L.N. 163 of 2013 03/03/2014 For that needs of the Division, a revision with the terms of a proposal to acquire shares is never to be regarded as the making of the new provide if— (a) the conditions of the present make provision for— (i) their revision; and (ii) acceptances on the past terms for being handled as acceptances around the revised phrases; and (b) the revision is created in accordance with that provision. Part: Division: Subdivision: thirteen four two “Squeeze-out” L.N. 163 of 2013 03/03/2014 Part: 693 Offeror may possibly give discover to acquire out minority shareholders L.N. 163 of 2013 03/03/2014 (one) If, in the case of a takeover present that does not relate to shares of different classes, the offeror has, by advantage of acceptances with the present, obtained, or contracted unconditionally to amass, not less than 90% in range of the shares to which the offer you relates, the offeror might give detect for the holder of almost every other shares to which the offer relates the offeror wants to amass Individuals shares.

(five) The administrators of a company have to not specify a completely new accounting reference date in relation to an accounting reference time period so as to increase the period of time to longer than 18 months. (6) The directors of a company have to not specify a different accounting reference date in relation to The present or preceding accounting reference interval so as to extend that interval if— (a) Those people administrators have specified a whole new accounting reference day in relation to an previously accounting reference period of time so as to extend that precedent days; and (b) the sooner accounting reference period ended inside of five years ahead of the new accounting reference day is specified. (seven) Subsection (6) would not apply if— (a) The brand new accounting reference date to get specified by the administrators coincides Along with the accounting reference day of a Keeping company on the company; or (b) the specification is permitted by a users’ resolution. (eight) If a company contravenes subsection (2), the company, and each responsible individual in the company, commit an offence, and every is liable into a wonderful at level three and, in the situation of a continuing offence, to an additional fantastic of $300 for day after day in the course of which the offence proceeds. (nine) In this particular segment— former accounting reference period of time(對上的會計參照期), in relation to a company, suggests the accounting reference period of the company instantly previous the company’s present accounting reference period of time. Portion: Division: nine four Planning of economic Statements and Administrators’ Experiences

L.N. 163 of 2013 03/03/2014 (1) A shown company may well purchase again its very own shares with a recognized stock industry or on an permitted stock exchange if the purchase-again is authorized ahead of time by resolution of your company. (2) The company ought to include a memorandum with company formation services packages the conditions in the proposed buy-back again While using the discover on the proposed resolution. (three) A resolution authorizing a acquire-back again less than this section is valid for your time period expiring about the date of the subsequent annual common meeting in the company, Which interval could possibly be prolonged with the company at that annual standard Conference until eventually the day of the next once-a-year typical Conference. (four) In this particular part— authorised stock exchange(核准證券交易所) signifies a inventory exchange approved for that functions of this portion by detect posted within the Gazette by— (a) the Fee; and (b) the regarded exchange company that operates the identified inventory market place on which the shares concerned are mentioned.

Should the company secretary is a organic individual, he or she must be a resident in Hong Kong (long lasting or if not);

It's the purpose of a company secretary to make certain corporations adjust to their lawful obligations. Much more precisely, a company secretary should really aid to keep up a company’s statutory data and registers and keep on to update them as wanted.

(four) An purchase might provide that each one costs of and incidental to the appliance are for being borne— (a) in the case of a contravention from the company, via the company or by any officer on the company answerable for the contravention; or (b) in the situation of a contravention through the officer, by that officer. (5) This segment isn't going to affect the Procedure of any Ordinance imposing penalties on a company or any officer of the company in regard in the contravention. Part: 899 Registrar could give observe to suspected offender about not instituting proceedings below particular ailments

Until the Main Secretary for Administration publishes a list of Chinese language newspapers and English language newspapers from the Gazette below portion 203(2), a Chinese language newspaper or an English language newspaper laid out in the listing of newspapers past published below segment 71A(three)(a) in the predecessor Ordinance is taken for being a specified Chinese language newspaper or even a specified English language newspaper (as the situation could be) to the needs of Section five. Section six

Escalating your fork out as a Corporate Secretary can be done in various ways. Change of employer: Take into account a occupation shift to a new employer that is willing to shell out higher for your personal techniques. Amount of Education and learning: Gaining advanced degrees might permit this purpose to increase their earnings prospective and qualify for promotions.

It's also noteworthy that any organization which will not use a competent company secretary will not be listed on the Inventory Exchange.

Area 351B from the predecessor Ordinance, as in power right away right before its repeal, continues to use in relation to an application designed prior to the commencement date* of portion 897 for the uses of that portion.