limited partners liable only up to the amount contributed by them to the partnership. Two such partnerships were registered during the year, raising the total number registered to twenty-three, of which only twelve are believed to be still in existence.
Registered Trustees Incorporation Ordinance
93. Under this Ordinance the duly appointed trustees (not being less than three nor more than seven) of any body of persons as defined in the Ordinance may apply for incorporation; and the Governor may, if he considers such incorporation expedient, grant a certificate of incorporation, whereupon the trustees and their successors in office become a body corporate with perpetual succession. During the year two certificates of incorporation were granted, making a total of twenty-four certificates so far granted. The objects of the twenty-four bodies whose trustees have been incorporated are:
Educational
Religious
Social Welfare
Others
2
8
10
4
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Authorized Auditors Board
94. The Authorized Auditors Board constituted under Section 132 of the Companies Ordinance is composed of ten members, namely, the 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.
95. The Board inquires into the professional qualifications, ex- perience, 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 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.
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