178
Fenalty.
138
(4) If any company makes default in complying with the provisions of sub-section (3), it shall be liable to a penalty not exceeding fifty dollars for every day during which the default continues, and every director, officer and agent of the company who knowingly or wilfully authorises or permits the default shall be liable to the like penalty.
(5) The annual fee payable under sub-section (3) 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.
Repeal of Ordinances No. 58 of
1911, No. 15 of 1925, No. 12 of 1928,
No. 31 of 1929 and No. 26 of 1930.
Savings.
19 & 20 Geo. 5, c. 23, 3. 382.
PART XV.
REPEAL AND SAVINGS.
353.-(1) The Companies Ordinance, 1911, and the Companies Amendment Ordinances, 1925, 1928, 1929 and 1930 are repealed.
(2) Without prejudice to the provisions of section twelve of the Interpretation Ordinance, 1911, Ordi- nance No. 31 1911-
(a) nothing in this repeal shall affect any Order in Council, order, rule, regulation, scale of fees, appointment, conveyance, mortgage, deed or agreement made, resolution passed, direction given, proceeding taken, instrument issued or thing done under any former enact- ment relating to companies, but any such Order in Council, order, rule, regulation, scale of fees, appointment, conveyance, mortgage, deed, agreement, resolution, direction, pro- ceeding, instrument or thing shall, if in force at the commencement of this Ordinance, con- tinue in force, and so far as it could have been made, passed, given, taken, issued or done under this Ordinance shall have effect as if made, passed, given, taken, issued or done under this Ordinance:
(b) any document referring to any former enact- ment relating to companies shall be construed as referring to the corresponding enactment of this Ordinance;
(c) any person appointed to any office under or by virtue of any former enactment relating to companies shall be deemed to have been appointed to that office under or by virtue of this Ordinance;
(d) any register kept under any former enactment relating to companies shall be deemed part of the register to be kept under the corresponding provisions of this Ordinance;
(e) all funds and accounts constituted under this Ordinance shall be deemed to be in con- tinuation of the corresponding funds and accounts constituted under the former enact- ments relating to companies.
(3) In this section the expression "former enact- ment relating to companies" means any enactment repealed by this Ordinance and any enactment repealed by the Companies Ordinance, 1911.
354. Nothing in this Ordinance shall affect--
(1) The incorporation of any company registered
under any enactment hereby repealed; (2) Table A in the First Schedule annexed to the Companies Ordinance, 1865, or any part there- of, either as originally contained in that