Registrar of Companies (Chairman), the Accountant General and the Commissioner of Inland Revenue as ex officio members, a Legal Adviser, and six other members appointed by the Governor, of whom five are practising accountants.
35. The Board inquiries into the professional qualifications, experi- ence, competency and character of all applicants for admission to the Authorized List of Auditors kept by the Registrar of Companies under Section 131(3)(a). This List is in two parts, Part I containing the names of persons authorized to audit accounts kept in English, Part II the names of those authorized to audit accounts kept in Chinese. The Board conducts examinations for admission to Part II of the List. The examination is divided into an oral and a written examination, and every candidate must pass the oral before he can take the written examination. The Board may also sit as a disciplinary tribunal, having power to issue a reprimand or order the removal of the name of an auditor from the List.
36. During the year the Board inquired into and approved eleven applications for admission to Part I, one application for admission to Part II, and four applications for admission to both Part I and Part II.
TABLE VIII
NUMBER OF LIMITED COMPANIES REGISTERED IN THE YEARS 1954/55 TO 1958/59, INDICATING AMOUNTS OF NOMINAL CAPITAL
1954/55
1955/56 1956/57 1957/58
1958/59
With share capital:
Under $10,000
1
1
3
5
8
$
10,000 and under
50,000...
10
12
11
17
14
50,000 100,000 500,000
7+
**
100,000...
9
16
5
11
19
"
**
500,000 ...
63
95
102
121
144
??
19
1,000,000...
46
45
49
64
53
1,000,000
**
5,000,000 ...
96
85
70
110
83
5,000,000
"
10,000,000
16
7
6
3
4
10,000,000 and above...
7
6
5
3
248
267
246
336
328
6
17
14
17
23
Without share capital
Total number registered
254
284
260
353
351
Total amount of share capital of com-
panies registered with a share capital $341,469,056|$273,028,000 $168,049,550 $276,280,240 $227,492,500
14
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