12
FRIDAY, JULY 14, 1989
TACKLE THE
PROBLEM
OF
ON THE RECOMMENDATION TO FILING ANNUAL RETURNS, THE SPOKESMAN SAID THAT THE STANDING RECOMMENDED THAT SECTION 291 OF THE AMENDED TO PERMIT THE RG TO START
DEFAULT IN COMMITTEE COMPANIES ORDINANCE SHOULD BE
THE AUTOMATICALLY
PROCEDURE FOR THE DELAY IN FILING
STRIKING A COMPANY OFF THE REGISTER AS SOON AS ANNUAL RETURNS WENT BEYOND A CERTAIN LIMIT.
OUTLINING THE
INVOLVING RECOMMENDATION
THE
NAME
COMPANY THE
REGISTRATION SYSTEM,
SPOKESMAN SAID THE PRESENT REGISTRATION DISCRETION ΤΟ PROCESS WHICH IN ESSENCE REQUIRED THE RG TO EXERCISE A
BEING REGISTERED WAS DECIDE WHETHER A NEW COMPANY NAME SIMILAR TO AN EXISTING COMPANY NAME WAS CONSIDERED UNSATISFACTORY.
CONFUSINGLY
SYSTEM BE "THE STANDING COMMITTEE RECOMMENDS THAT THE PRESENT
ADOPTED IN THE REPLACED BY A SYSTEM AKIN TO THAT CURRENTLY
UNITED NAME IS REGISTRABLE
UNITED KINGDOM
SYSTEM, A
KINGDOM. UNDER THE PROVIDED THAT IT IS NOT IDENTICAL TO AN EXISTING ONE.
++
REGISTERED IS
'HOWEVER, IN THE CASE WHERE A COMPANY NAME THUS
OF CONSIDERED TOO SIMILAR TO ANOTHER PRE-EXISTING NAME, THE SECRETARY
12 STATE
INDUSTRY MAY, WITHIN FOR TRADE AND
OF THE MONTHS
NAME REGISTRATION, REQUIRE THE NEWLY REGISTERED COMPANY TO CHANGE ITS DURING A SPECIFIED PERIOD, HE EXPLAINED.
中
THIS SUBJECT,
ARE SYSTEM
THE SEARCH
"IN VIEW OF THE IMPORTANCE OF PROPOSALS FOR THE INTRODUCTION OF THE NEW PREPARATION, URGENT ACTION IS ALSO BEING TAKEN BY
THE PUBLIC TO
MAKE AVAILABLE
FACILITIES FOR
RECORDS OF COMPANY NAMES BEFORE THE NEW SYSTEM IS PUT IN SPOKESMAN SAID.
LEGISLATIVE ALREADY UNDER GOVERNMENT то GOVERNMENT'S PLACE, THE
II
THE
THE TURNING TO THE SFC BILL,
SPOKESMAN
ALL NOTED THAT ITS DISCUSSION CONCERNS RAISED BY THE STANDING COMMITTEE IN
OF THE VARIOUS BILL WERE MET THROUGH AMENDMENTS TO ITS PROVISIONS DURING THE STAGES OF THE BILL'S PREPARATION,
"IN ADDITION, THE STANDING COMMITTEE ALSO EXAMINED A NUMBER
OF RECOMMENDATIONS IN THE SRC REPORT WHICH AFFECT THE PROVISIONS COMPANIES ORDINANCE.
OF
THE
THE
OF
THE
OWN
"THESE INCLUDE THE REGISTRATION OF PROSPECTUSES, REQUIREMENT OF APPROVAL BY A COMPANY FOR DIRECTORS TO DISPOSE
PURCHASE BY A COMPANY OF ITS COMPANY'S FIXED ASSETS AND THE SHARES.
STANDING COMMITTEE BE RESPONSIBLE FOR THAT AT THE
THE "ON THE REGISTRATION OF PROSPECTUSES, SUPPORTS THE PRINCIPLE THAT ONLY ONE BODY SHOULD THE VETTING AND APPROVAL OF PROSPECTUSES AND RECOMMENDS APPROPRIATE TIME, THE EXACT NATURE OF THE NEW ARRANGEMENTS
THE DECIDED BY THE SFC IN
STOCK
SPOKESMAN EXPLAINED.
CONSULTATION
WITH
EXCHANGE,
"
SHOULD BE THE
/AS FOR