53
A BILL
intituled
An Ordinance to amend further the
Companies Ordinance, 1911..
Be it enacted by the Governor of Hongkong, with
the advice and consent of the Legislative Council, as
follows:-
Short title.
1.
Amendment
of Ordi-
nance No. 58 of 1911 s. 273.
This Ordinance may be cited as the Companies
Amendment Ordinance, 1928.
2.
2.
Section 273 of the Companies Ordinance, 1911,
is amended by the addition of the following sub-
section at the end thereof:
(7) The annual fee payable under sub-section (4)
shall be paid at the rate of one,cent, and not
four cents, for each hundred dollars of the paid
up capital if the China Company in question is a
private company and if, further, the Governor in
Council is of opinion that substantially all the
shares in the said company are held by a parent
company which was incorporated either in this
Colony or in the United Kingdom or in some British
possession.
Objects and Reasons.
The object of this Ordinance is to reduce the
annual China Companies fee from 4 cents to 1
cent per hundred dollars of paid up capital in
the case of private companies substantially all
the shares in which are held by a parent company.
(Sa.) J. H. Kemp.
Attorney General.
22nd January, 1928.