FRIDAY, JULY 4, 1975
REVISION OF COMPANY'S FEES
A NUMBER OF FEES PAYABLE UNDER THE COMPANIES ORDINANCE ARE TO BE
REVISED, IN LINE WITH SOME OF THE RECOMMENDATIONS MADE BY THE COMPANIES LAW
REVISION COMMITTENS.
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THE REVISION - PROVIDED IN THE COMPANIES (AMENDMENT) (NC.2) BILL
PUBLISHED IN TODAY'S GAZETTE MAINLY REFERS TO FEES FOR INSPECTION AND
CERTIFICATION OF DOCUMENTS KEPT BY THE REGISTRAR AND TO FEES FOR REGISTERING
CERTAIN INSTRUMENTS AND FOR INSPECTING THE REGISTER OF CHARGES.
THE BILL INTRODUCES A NEW FEE OF $2,000 FOR REGISTERING A PROSPECTUS
WITH THE REGISTRAR. A SPOKESMAN SAID THIS WAS CONSIDERED NECESSARY AS
EXAMINATION OF DRAFT PROSPECTUSES BY SENIOR STAFF OF THE COMPANIES NEGISTRY
INVOLVED CONSIDERABLE TIME, AND FREQUENTLY DISCUSSIONS WERE NECESSARY WITH THE
COMPANY, ITS SOLICITORS AND THE UNDERWRITERS.
THE SPOKESMAN ALSO NOPED THAT SOME OF THE FEES HAD REMAINED
UNCHANGED FOR MORE THAN 40 YEARS,
PROVISION IS ALSO MADE IN THE BILL FOR THE GOVERNOR INCOUNCIL TO
INCREASE CERTAIN FEES AND TO ADD FURTHER ITEMS FOR WHICH A CHARGE IS CONSIDERED
NECESSARY.
WAI YIP STREET EXTENSION
A 400-METRE EXTENSION WILL BE ADDED TO WAI YIP STREET TO PROVIDE A
TRAFFIC DIVERSION ROUTE TO FACILITATE THE CONSTRUCTION OF THE KWUN TONG MASS
TRANSIT RAILWAY STATION,
THE ROAD EXTENSION, TO RUN BETWEEN KING YIP STREET AND CHA KWC LING
ROAD WITH JUNCTION IMPROVEMENTS AT BOTH ENDS, WILL BE 19 METRES WIDE WITH
FOOTPATHS AND TWO TRAFFIC LANES IN EACH DIRECTION,
IT WILL INCLUDE A 30-METRE LONG BRIDGE ACROSS THE NULLAH AT THE SOUTH-
EASTERN END OF WAI YIP STREET,
IN CONNECTION WITH THE PROJECT, SOME 500 METRES CF CHA KWC LING RÅD, BETWEEN KWUN TONG ROAD AND THE JUNCTION OF WAI YIP STREET EXTENSIC, WILL BE
RESURFACED. ASSOCIATED DRAINAGE WORKS WILL ALSO BE CARRIED OUT.
TENDERS FOR THE CONSTRUCTION OF THE PROJECT ARE INVITED IN TODAY'S GAZETTE. WORK WILL BEGIN IN SEPTEMBER FOR COMPLETION IN MAY NEXT YEAR, WIEN
CONSTRUCTION OF THE KWUN TÔNG M.T.R. STATION IS EXPECTED TO BEGIN.
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