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(b) For the purposes of (a), a qualified person
is a person who is either
(i)
a solicitor qualified to act as such
under the Legal Practitioners Ordinance or
(ii) a professional accountant who holds a
practising certificate under the Professional
Accountants Ordinance;
(c) The statutory declaration must be filed with the
Registrar of Companies forthwith and, in any
event, not later than 7 days after the day on which
it is made, failing which it will cease to be
capable of being used for the purposes of this
section;
(d) The winding up of the company shall commence on
the day of delivery of the statutory declaration
to the Registrar of Companies;
(e) The directors shall cause a meeting of the company
Reason:
and of the creditors of the company to be summoned
for a date not later than 28 days after the
delivery of such declaration."
It is thought that there are too many loopholes in
the existing subsection (3). For example, under the
existing provisions, the directors of a company could
make the statutory declaration under subsection (1)
and not take any action on it for an indefinite
period, perhaps not delivering it to the Registrar
for a year. The Section 228A procedure was meant
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