68. The number of new companies incorporated in Hong Kong constituted a new record, the total advancing by 653 over the previous year's total to 1,868, 440 more than the previous record set up in 1966-67. Of the new companies incorporated, 1,772 (including three with unlimited liability) were private companies with a share capital, one was a public company with a share capital and 95 were public com- panies with liability limited by guarantee. Part I of Table XII gives an analysis of the 1,773 companies with a share capital according to the nature of their business and amount of nominal capital, with the aggregate amount given in the final column. As compared with 1967-68 the most noteworthy increases in the numbers according to business were importers and exporters 496 (+181), textile manufacturers 97 (+56), garment manufacturers 113 (+48), plastics manufacturers 68 (+36), and land investment 117 (+32). The only businesses in which there were reductions in numbers were goldsmiths and jewellers 13 (--7), building contractors etc. 14 (-3) and hotels 7 (-2).
69. Part II of Table XII gives an analysis of the 95 companies incorporated without a share capital according to the nature of their objects, and Part III gives an analysis of all public companies according to whether they are limited by shares or limited by guarantee.
70. In 888 cases out of 1,868, that is to say in 47.5% of all new incorporations, the papers were submitted by firms of accountants apparently without a solicitor being employed, the necessary statutory declaration of compliance with the requirements of the Ordinance being made by a person named in the articles as a director or secretary. In addition, 90 companies were incorporated by a private limited company whose principal object is the forming of companies for sale. Since records of such cases were first kept in 1963-64 the numbers of incorporations in which a solicitor was not employed have risen as follows:
1963-64 1964-65
435 or 35% of all incorporations
95
568 or 40%
55
1965-66
551 or 43%
"
1966-67
639 or 45%
95
1967-68
1968-69
640 or 53% 1,048 or 56%
55
55
99
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71. For purposes of comparison Table XIII gives an analysis of the companies registered in the last five years according to the amount of their nominal capital. It will be seen from this Table that the number in each of the four lowest categories-under $10,000, $10,000
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