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The renovation of the Registry premises in the past year has also brought about noticeable improvements to the facilities for the public to search or lodge documents.
"The next year will see the start of major initiatives to enable customers to conduct business with the Registry more conveniently from their own offices," said Mr Jones.
The Companies Registry plans to make available the Names and Document Indices combined with a facility to allow customers to order searches by fax and thereafter, to introduce an on-line service by phases leading to a search ordering facility by terminal.
Arrangements are also being made to allow the use of either English or Chinese in the filing of documents with the Registry, following the enactment of the Companies (Amendment) Ordinance in July this year.
The report is the Companies Registry's second one since it became a trading fund in August 1993. It covers the first full financial year of its operations.
The Companies Registry's main functions are to incorporate and strike-off companies, receive and maintain information required to be submitted by companies and other organisations in Hong Kong and to make that information available to the public.
It also plays an enforcement role to ensure compliance with the relevant parts of the various ordinances that it administers.
End/Wednesday, October 18, 1995
Land Registry Trading Fund achieved $24.2M profit
The Land Registry Trading Fund has recorded another very successful year of operation achieving a net profit of $24.2 million for the year ended March 31.
This represented an annual rate of return of 10.3 per cent on average net fixed assets, as compared with the target of 10 per cent.