COMPANIES (AMENDMENT)
Ord. No. 25/85
A 109
5.
Section 295 of the principal Ordinance is amended—
(a) in subsection (1)—
(i) by inserting after "the account of any company" the following-
"exceeds $100,000 and"; and
(ii) by deleting "for the benefit of the company”; and
(b) by deleting subsection (3) and substituting the following-
“(3) Out of the interest paid on the investments made under this section there shall be paid to the credit of the company an amount equivalent to interest thereon at the rate of 34% per annum or such other rate as may be fixed by the Financial Secretary for the purposes of this section by notice published in the Gazette.
(4) The Official Receiver shall on or before 31 March in each year transfer to the general revenue the balance, if any, of the interest paid on the investments made under this section, after deducting therefrom any payment made under subsection (3).".
6. The Eighth Schedule to the principal Ordinance is amended under the sub-heading "I.--BY A COMPANY HAVING A SHARE CAPITAL", in item (ca), by deleting "$2,000" and substituting the following
7.
“$3,000".
Rule 146 of the Companies (Winding-up) Rules is amended— (a) in paragraph (1), by deleting "The remuneration of a liquidator, unless the court shall otherwise order, shall be" and substituting the following—
"Where the remuneration of a liquidator is determined by the committee
of inspection, it may be"; and
(b) in paragraph (2), by deleting "The" and substituting the following—
"If there is no committee of inspection, the".
Passed by the Hong Kong Legislative Council this 29th day of May 1985.
Amendment of section 295.
Amendment of Eighth Schedule.
Amendment of rule 146 of the
Companies (Winding-up) Rules.
(Cap. 32, sub. leg.)
LI Wing,
Clerk to the Legislative Council.
This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.
LI Wing,
Clerk to the Legislative Council.