Short title
94
A
No. 35-[5.10.11.-6.]
A BILL
ENTITLED
An Ordinance to provide for the registration of Chinese Partnerships, and to enable partners therein to register and thereby to limit their liability.
BE it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as the Chinese and applica Partnerships Ordinance, 1911, aud shall apply only to such partnerships as in the opinion of the Registrar of Companies can properly be described as Chinese Partuerships.
tion,
Interpreta- tion of
terms.
Ordinance No. 1 of 1997.
Ordinance No. 1 of 1865.
Registration of Chinese partnerships and partners. Conditions of registra. tion.
2. In the construction of this Ordinance the following words and expressions shall have the meanings respectively assigned to them in this section, unless there be something in the subject or context repugnant to such construction:
Firm", "firm name", and "business" have the same meanings as in the Partnership Ordinance, 1897.
"Registered Partner" shall mean any partner inelnd- ing a firm, a family tong or a body corporate who or which is registered as such under this Ordinance.
"Registrar of Companies" shall mean the officer appointed for the registration of Companies under the 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 Pit Tsz (†) and the places of his birth and the District in China to which he belongs.
46
Hung Ku shareholder" Ineans a person who is registered as such in a registered partnership and who holds a hung hú (AIR) 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 Ordin- auce Chinese partnerships and partners therein may register in the manner and subject to the conditions by this Ordin- ance provided,
4.—(1) No partnership may register under this Ordin- ance unless one at least of its partners registers as a partner therein.
(2.) Firms or family tongs may be registered as part- mers 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 long so registering as afore- said, and provided also that no person may be registered as a representative of a firm or long 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 long 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 Gazette and in two Chinese daily newspapers cirenlating 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 registered as partners under this Ordinance.
(4.) Bodies corporate may be registered as partners in a registered partnership.