PART IV
COMPANIES REGISTRY
Companies Registration
23. The Companies Ordinance (Cap. 32) is based on the Companies Act, 1929, formerly in force in Great Britain but now replaced by the Companies Act, 1948.
24. During 1958/59, 351 new companies were incorporated, includ- ing 328 with a total nominal capital of $227,492,500 and twenty three without a share capital; and twenty nine foreign corporations, including twelve Japanese and six United States corporations, established a place of business within the Colony and complied with the provisions of Part XI of the Ordinance. Licences to dispense with the word 'Limited' in their name were granted under Section 21 of the Ordinance to eighteen of the twenty three companies incorporated without a share capital. Table VIII gives an analysis of the companies formed in the last five years according to the amounts of their share capital.
25. On 31st March, 1959, there were 3,322 local companies on the Register and 385 foreign corporations registered under Part XI of the Ordinance as having a place of business in the Colony, compared with 3,045 and 371 respectively the year before. Table IX shows the countries in which the 385 foreign corporations are incorporated.
26. Seventy four companies were dissolved during the year as follows:
By Members' Voluntary Winding-Up
By Creditors' Voluntary Winding-Up Struck off the Register under Section 276
Liquidations in Progress
25
1
48
74
27. At the end of the year ninety one companies were in the course of being wound up as follows:
By Members' Voluntary Winding-Up By Creditors' Voluntary Winding-Up By Winding-Up by the Court
Liquidations begun prior to 1/4/58
Liquidations begun during 1958/59
42
29
2
1
13
4
57
34
12