783
CL
Registrar of Companies" shall
mean the officer Ordinance
1865.
appointed for the registration of Companies under the No. 1 of Companies Ordinance, 1865, or any Ordinance amending or substituted for the same.
"The Court" shall mean the Supreme Court.
"Full name" shall, in the case of a person who carries on business in more than one name, include all the names, whether tong names or otherwise, in which such person carries on business, and in the case of persons with Chinese names or of Chinese origin shall include his sur- name and lit Tsz (I) and the places of his birth and the District in China to which he belongs.
Hung Kú shareholder" means a person who is registered as such in a registered partnership and who holds a hung kù (KI ) or red share, and is a person who is entitled to no interest on capital, but who shares with the partners the surplus profit after interest on capital has been paid.
3. From and after the commencement of this Ordiu- Registration ance Chinese partnerships and partners therein may register of Chinese in the manner and subject to the conditions by this Ordin- partnerships
and ance provided.
partners. 4.-(1.) No partnership may register under this Ordin- Conditions ance unless one at least of its partners registers as a partner of registra- therein.
(2.) Firms or family tongs may be registered as part- ners in a registered partnership, provided that a firm or family tong so registered shall be regarded, so far as the partnership in which it is registered is concerned, as one person, and provided also that one partner only in the firm or one member only of the tong shall be registered as a representative of the firm or tong so registering as afore- said, and provided also that no person may be registered as a representative of a firm or tong unless the Registrar of Companies is satisfied that he has the authority of the other members of his firm or the adult members of his t'ong to be registered as their representative in the re- gistered partnership, and unless one month shall have elapsed since an announcement of his intention to apply for registration as a representative of the firm or tong in ques- tion shall have been published in the Gazeite and in two Chinese daily newspapers circulating in the Colony,
(3.) The Registrar of Companies shall register the names of all members of a family tong, disclosed to him by such representative, including infants of any age; and thereafter members so registered shall have their liability limited in the same manner as if they were registerel as partners under this Ordinance.
(4.) Bodies corporate may be registered as partners in a registered partnership.
tion.
5.-(1.) The liability of each partner in a registered Effect of partnership, which may sue and be sued in its registered registration name, shall be unlimitel in respect of assets in his posses-
on liability. sion connected with the registere i partnership.
(2) The liability of each unregistered partner in a registered partnership shall be unlimited.
(3.) The liability of each registered partner in a regis- tered partnership beyond his liability under sub-section (1) of this section, shall be limited to such proportion of the debts and obligations of the registered partnership as his interest in the registered partnership bears to the total interest of all the partners therein, whether registered or noregistered.
(4.) Whore a firm or family tong is registered as a registered partner in a registered partnership, but is not itself registered as a registered partnership the liability of each of its partners or members shall be unlimited in res- pect of assets in his possession connected with the registered partnership, but his further liability shall be limited to such proportion of the debts and obligations of the registered partnership as the interest of his firm or tong in the re- gistered partnership bears to the total interest of all the partners therein whether registered or unregistered.