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THURSDAY, JANUARY 10, 1991
1990
THE FIGURES FOR 1990 INDICATED THAT IN THE SECOND SIX MONTHS OF 13,634 COMPANIES WERE REGISTERED COMPARED WITH
FIRST BIX MONTHS.
12,513 IN THE
THE REGISTRAR OF THE TOTAL NUMBER OF PROSECUTIONS TAKEN BY
OF THE COMPANIES AGAINST COMPANIES AND THEIR DIRECTORS FOR BREACHES COMPANIES ORDINANCE, MAINLY FOR FAILURE TO FILE ANNUAL ACCOUNTS, IN 1990 WAS 157. ANOTHER 87 SUMMONSES WERE OUTSTANDING FROM 1989.
RETURNS WITH
IN CONVICTIONS OF THIS TOTAL OF 244 SUMMONSES, 120 RESULTED (COMPARED WITH 211 IN 1989) AND 98 REMAINED TO BE HEARD BY THE COURT.
THE TOTAL AMOUNT OF FINES IMPOSED FOR CONVICTIONS IN 1990 $267,030, COMPARED WITH $597,570 IN 1989.
WAS
THE
THE COMPANIES (AMENDMENT) (NO.5) ORDINANCE 1990 WHICH ABOLISHED SYSTEM COMPANY NAME RESERVATION SYSTEM AND INTRODUCED A NEW NAMB WAS ENACTED ON JULY 26, 1990.
1990
SECTION 11 OF THE COMPANIES (AMENDMENT) (NO.5) ORDINANCE CAME INTO OPERATION ON NOVEMBER 30, 1990 AND NO NAME APPLICATIONS WERE ACCEPTED FROM DECEMBER 1, 1990.
UNDER THE NEW NAME SYSTEM WILL BE INTRODUCED ON MARCH 1, 1991.
AND REFUSE NEW THE REGISTRAR WILL CHECK ONLY FOR THE NEW SYSTEM COMPANY NAMES THAT ARE IDENTICAL WITH EXISTING COMPANY NAMES.
ANY
ADVISERS EXISTING
THE PROMOTERS OF NEW COMPANIES AND THEIR PROFESSIONAL WILL HAVE TO DECIDE IF THEIR COMPANY NAME IS TOO LIKE COMPANY NAME.
THE IN WILL BE
SEARCH COMPUTERISED
FACILITIES WILL BE PROVIDED COMPANIES REGISTRY TO CHECK EXISTING COMPANY NAMES, AND IT POSSIBLE FOR ANY AGGRIEVED COMPANY TO APPLY TO THE REGISTRAR WITHIN 12 MONTHS OF THE REGISTRATION OF A NEW COMPANY TO REQUIRE THE NEW COMPANY THE ΤΟ CHANGE ITS NAME ON THE GROUND THAT IT IS TOO LIKE THE NAME OF ALREADY EXISTING COMPANY.
MR GLEESON SAID THE NEW SYSTEM WOULD SIMPLIFY AND SPEED UP PROCEDURE FOR COMPANY REGISTRATION.
THE
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