1
(2) Where it is proved to the satisfaction of the Registrar-
(a) that the objects of a company registered under this Ordinance as a limited company are restricted to those specified in subsection (1) and to objects incidental or conducive thereto; and
(8) that by ¡la constitution the company is required to apply its profits, if any, or other income in promoting its objects and is prohibited from pay- ing any dividend to its members,
the Registrar may by licence authorize the company to make by special resolution a change in its name including or consisting of the omission of the word "Limited", and subsections (4) and (9) of section 22 shall apply to a change of name wonder this subsection as they apply to a change of name under that section,
(3) A licence by the Registrar under this section may be granted on such conditions and subject to such regula- tious as the Registrar thinks fit, and those conditions and regulations shall be binding on the body to which the licence is granted, and (where the grant is under sub- section (1)) shall, if the Registrar so directs, be mserted the memorandum and articles, or in one of those documents.
(4) A body to which a licence is granted under this section shall be exempted from the provisions of this Ordinance relating to the use of the word "Limited" as any part of its name, the publishing of its name and the sending of lists of members to the Registrar,
(5) A licence under this section may at any time be revoked by the Registrar, and upon revocation the Registrar shall enter the word “Limited" at the end of the name upon the register of the body to which it was granted, and the body shall cease to enjoy the exemptions and privileges. or, as the case may be, the exemptions granted by this section:
Provided that before a licence is ao revoked, the Registrar shall give to the body notice in writing of his intention, and shall afford it an opportunity of being heard in opposition to the revocation.
(6) A body in respect of which a liecoce under this section is in force shall not have power to alter its memorandum or articles unless-
(a) it gives to the Registrar the same notice of the resolution relating to the proposed alteration as it is required to give to the members of the body; and
(6) the proposed alteration is approved in writing
by the Registrar.
(7) Where a body in respect of which a licence under this section is in force alters its memorandum or articles, the Registrar may (unless he sees fit to revoke the licence) vary the licence by making it subject to such conditions and regulations as the Registrar thinks fit, in lieu of or in addition to the conditions and regulations, if any, to which the licence was formerly subject.
(Cap. 1.)
EST OF 1978)
3
(8) Where a licence granted under this section to a body the name of which contains the words "Chamber of Commerce is revoked, the body shall within a period of 6 weeks from the date of revocation or such longer period as the Registrar may think it to allow, change its name to a name which does not contain those words, and-
(a) the notice to be given under the proviso to sub- section (5) to that body shall include a statement to the effect of the foregoing provisiona of this subsection; and
(5) subsections (4) and (5) of section 22 shall apply to a change of name under this subsection "as they apply to a change of came under that section. (9) If a body referred to in subsection (8) makes default in complying with the requirements of that sub- section, it shall be liable to a fine not exceeding $500 for every day during which the default continues.
(10) Without prejudice to section 23 of the Inter- pretation and General Clauses Ordinance, this section shall apply in relation to any body in respect of which a licence (being a licence granted under this Ordinance in respect of ibe registration of that body as a company with limited Habllity without the addition of the word "Limited" to its dame) is in force at the commencement of the Com- panies (Amendment) Ordinance 1978 as if such licence had been granted under this section after the commence- ment of that Ordinance."",
1. Section 22 of the principal Ordinance is amended by deleting Amauront of subsection (3)
section 22.
4. Section 147 of the principal Ordinance is repealed and replaced Repeat zod by the following-
**Proceedin
me unneccoT's report.
let 1967 s. Al. M. 35 A 17.)
147. (1) In relation to any prosecution arising from any report made under section 145, it shall be the duty of all "officers and agents of the company or other body corporale whose affairs have been investigated by virtue of soction 144. other than the defendant in the proceedings, to give to the Atomey General all assistance in connexion with the prosecution that they are reasonably able to give, and section_145(5) shall apply for the purposes of this sub- section as it applies for the purposes of that section.
(2) If, in the case of any body corporate liable to be wound up under this Ordinance, it appears to the Financial Secretary from any report made mider section 146——
(a) that it is expedient in the public interest that the body should be wound up, he may present a petition for it to be wound up if the court thinka it just and equitable for it to be so wound up:
(b) that the business of such body corporate is being conducted in a manner unfairly prejudicial to the interests of any part of its members, he may (in addition to, or instead of presenting a petition under paragraph (a)) present a petition for an order uader section 168A.
(3) If from any report made under section 146 it appears to the Financial Secretary that any civil proceedings ought in the public interest to be brought by any body corporate,
Isplacedcot al
section 147.