PART III
COMPANIES REGISTRY
Companies Registration
74. The Companies Ordinance is based on the Companies Act 1929 formerly in force in Great Britain but now replaced by the Companies Act 1948. Part I of Table XI lists the various Ordinances and subsidiary legislation now in force in the Colony relating to Companies.
75. The number of new companies incorporated in Hong Kong constituted a new record for the fourth successive year, the total advancing by 492 over the previous year's record total to 3,953. Of the new companies incorporated, 3,796 (including three with unlimited liability) were private companies with a share capital, six were public companies with a share capital, and 151 were public companies with liability limited by guarantee.
76. Part I of Table XII gives an analysis of the 3,802 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 1970-71 the most noteworthy in- creases in the numbers according to business were land investment 683 (+160), shipping 118 (+56), restaurants 115 (+49), financiers and capitalists 315 (+48), garment manufacturers 180 (+45), building contractors 65 (+27), engineering, etc. 126 (+26), and transportation 86 (+26). The businesses in which there were reductions in numbers were wig manufacturers 21 (−48), advertising, etc. 41 (-14), hotels 11 (-10), publishers 25 (-10), timber and paper merchants 44 (-4), mining companies 13 (-1), and provisions and rice merchants 34 (—1).
77. Part II of Table XII gives an analysis of the 151 companies incorporated without a share capital according to the nature of their objects. As compared with 1970-71, increases in the numbers of companies according to the nature of their objects were recorded in respect of welfare of natives of particular districts in China 29 (+3), schools 9 (+3), and building management 13 (+1), but there were decreases in respect of social welfare 13 (-4), trade protection 26 (-3), and religious bodies 17 (-2). One more stock exchange commenced operation during the year, bringing the number of stock exchanges in operation at the end of the year to four.
27