INDUSTRY AND TRADE
any other country, must satisfy all the requirements of the Trade Marks Ordinance before it may be accepted for registration. During 1989, 10 255 applications were received and 4 235, including many made in previous years, were accepted and allowed to be advertised. A total of 4 060 marks were registered in 1989, compared with 4 360 in 1988. The principal countries of origin were: United States of America, 955; Hong Kong, 933; Japan, 394; United Kingdom, 338; France, 274; West Germany, 231; Italy, 185; Switzerland, 137; Taiwan 81, and the Netherlands, 78. The total number of marks on the register at December 31, 1989, was 54 255.
Unlike the Trade Marks Registry, the Patents Registry, which is another sub-division of the Commercial Division of the Registrar General's Department, is not a registry of original registration. The Registration of Patents Ordinance provides that any grantee of a United Kingdom patent or European Patent (UK) may, within five years from the date of its grant, apply to have the patent registered in Hong Kong.
During the year, 1 030 patents were registered in this way, compared with 1 070 in 1988. Registration of a United Kingdom patent or European Patent (UK) in Hong Kong confers on the grantee the same privileges and rights as if the patent had been granted in the United Kingdom with an extension to Hong Kong. The privileges and rights run from the com- mencement of the term of the patent in the United Kingdom and continue as long as the patent remains in force there.
Companies Registry
The Companies Registry of the Registrar General's Department keeps records of all com- panies incorporated in Hong Kong and of all overseas companies that have established a place of business in Hong Kong.
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Local companies are incorporated under the Companies Ordinance, which was largely based on the Companies Act 1929, formerly in force in Britain but now replaced by various statutes culminating in the Companies Act 1985. However, following recommendations made by the Companies Law Revision Committee (June 1971 and April 1973), several parts of the Companies Ordinance – notably those dealing with prospectuses, accounts and audit were amended and now incorporate most of the relevant provisions of the Companies Acts of 1948 and 1967. Most of the remainder of the recommendations in the committee's second report are given effect in the lengthy Companies (Amendment) Ordinance 1984, which was enacted in January and came into force on August 31, 1984. The ordinance is subject to continual revision and improvement on the advice of the Standing Committee on Company Law Reform which was set up in 1984. The primary task of the committee is to ensure that Hong Kong's company law meets the most up-to-date needs of government and business. Further amendments to the ordinance were made by various Companies (Amendment) Ordinances between February 20, 1987 and July 21, 1989.
On incorporation, a company pays a registration fee of $600 plus $6 for every $1,000 of nominal capital. In 1989, 31 674 new companies were incorporated, 1 200 more than in 1988. The nominal capital of new companies registered totalled $3,371 million. Of the new companies, 113 had a nominal share capital of $5 million or more. During the year, 8 401 companies increased their nominal capital by amounts totalling $27,406 million on which fees were paid at the same rate of $6 per $1,000. At the end of 1989, there were 242 709 local companies on the register, compared with 213 515 in 1988.
Companies incorporated overseas are required to register certain documents with the registry within one month of establishing a place of business in Hong Kong.
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