(
1984 Ed.]
Companies
[CAP. 32
127
(7) For the purposes of this section---
(a) shares of a body corporate shall be treated as being held, or as not being held, by another such body if they would, by virtue of section 2(4) to (7) (but on the assumption that paragraph (b)(ii) of subsection (6) had been omitted therefrom), be treated as being held or, as the case may be, as not being held by that other body for the purpose of determining whether the first-mentioned body is its subsidiary; and
(b) the proportion of the nominal value of the issued shares of any class represented by the shares held by the company shall be stated by way of a percentage, and any such percentage may be stated to the nearest whole number per cent except where it is between 49% and 50%, in which event it shall be stated to as many decimal places as would be required to indicate the percentage, to one significant figure, of the proportion of the nominal value of the issued shares of that class represented by one share.
(8) In this section “equity share capital" means, in relation to a company, its issued share capital excluding any part thereof which does not, either as respects dividends or as respects capital, carry any right to participate beyond a specified amount in a distribution.
(Replaced, 80 of 1974, s. 12)
129A. (1) Subject to subsection (2), where, at the end of its financial year, a company is the subsidiary of another body corporate, there shall be stated in, or in a note on, or statement annexed to, the company's accounts laid before it in general meeting the name of the body corporate regarded by the directors as being the company's ultimate holding company and, if known to them, the country in which it is incorporated.
(2) Subsection (1) shall not require the disclosure by a company which carries on business outside Hong Kong of information with respect to the body corporate regarded by the directors as being its ultimate holding company if the disclosure would, in their opinion, be harmful to the business of that holding company or of the first-mentioned company or any other of that holding company's subsidiaries and the Financial Secretary agrees that the information need not be disclosed.
(Added, 80 of 1974, s. 12)
Statement in subsidiary company's accounts of name and place of incorporation of its ultimate holding company. 1967 c. 81, s. 5.
129B. (1) Every balance sheet of a company shall be approved by the board of directors of the company and signed on behalf of the board by 2 of the directors. (Amended, 6 of 1984, s. 89)
(2) In the case of a company carrying on banking business, the balance sheet shall be signed by the secretary or manager, if any, and where there are more than 3 directors of the company by at least 3 of those directors, and where there are not more than 3 directors by all the directors.
Signing of balance sheet.
1948 c. 38, s. 155.