Act 1948. Part I of Table XI lists the various Ordinances and sub- sidiary legislation now in force in the Colony relating to Companies.
69. The number of new companies incorporated in Hong Kong again constituted a new record, the total advancing by 944 over the previous year's record total to 2,812. Of the new companies in- corporated, 2,675 (including two with unlimited liability) were private companies with a share capital, one was a public company with a share capital, 135 were public companies with liability limited by guarantee and one was an unlimited company without a share capital. The last-mentioned company is unique, being the first of its kind ever to be registered under the Companies Ordinance. Part I of Table XII gives an analysis of the 2,676 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 1968-69 the most noteworthy increases in the numbers according to business. were importers and exporters 771 (+275), land investment 340 (+223), financiers and capitalists 171 (+103), engineering 114 (+48), and plastics manufacturers 115 (+47). The only businesses in which there were reductions in numbers were restaurants and night clubs 55 (−32), insurance 8 (-4) and shipbuilders 9 (-1).
70. Part II of Table XII gives an analysis of the 136 companies incorporated without a share capital according to the nature of their objects. As compared with 1968-69, increases in the numbers of com- panies according to the nature of their objects were recorded in respect of social welfare 14 (+12), clubs 23 (+9), trade protection 30 (+8), building management 12 (+4) and religious 22 (+2). Four companies whose object was to operate a stock exchange were incorporated during the year. Of these four, only one had commenced operation before the end of the year, bringing the number of stock exchanges then in operation to two. Part III gives an analysis of all public companies according to whether they are limited by shares or limited by guarantee or unlimited.
71. In 1,344 cases out of 2,812, that is to say in 47.8% 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, 154 companies were incorporated by a private limited company whose principal object is the forming of companies for sale.
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