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Companies Registry releases 1994 figures
The total number of companies registered under the Companies Ordinance in 1994 had reached 452,789, nine per cent more than 415,911 at the end of 1993.
The number of new companies registered during the year was 42,723, 19,108 fewer than 1993.
These mixed results for the calendar year 1994 by comparison with 1993 were shown in figures released by the Registrar of Companies. Mr Gordon W E Jones, today (Monday).
The total number of overseas companies registered under part XI of the ordinance stood at 3,956 at the end of the year, 412 more than 1993.
The number of new overseas companies establishing a place of business in Hong Kong and registered under Part XI of the ordinance in 1994 was 573, an increase of 15 per cent over 1993.
The total amount secured by charges registered on the assets of companies decreased by 10 per cent from $67,673 million to $60,790 million whereas the number of charges filed had increased by two per cent from 32,657 to 33,224.
The amount repaid on charges, as evidenced by Certificates of Satisfaction, increased by six per cent from $21,515 million to $22,838 million, and the number of certificates had increased by six per cent from 19,073 to 20,263.
During the year a total of 195 prospectuses of public companies, including 58 in respect of mutual funds, were registered compared with 168 prospectuses, including 52 in respect of mutual funds, during the previous year.
The total number of documents received for filing during the year decreased by seven per cent from 1,294,918 to 1,199,830. The number of searches made by the public during 1994 as compared with that in 1993 increased by seven per cent from 1,842,566 to 1,972,513.
The total number of summonses issued by the Registrar of Companies in 1994 against companies and their directors for breaches of the Companies Ordinance, mainly for late filing of returns of alteration made in the directors or secretary of an overseas company or in their particulars, was 205.
Another 42 summonses were outstanding from 1993.