his report, a copy of which is inclosed, has explained the objects and reasons of the Ordinance.
I have the honour to be,
My Lord, Your Lordship's Most Obedient
Humble Servant,
Administrator.
Rep
{
0.
20.393
RECR
(REGO 21 NOVA;
Mch bemerg
Govern
unt Commandeam Chief.
No. 14 of 1881.
An Ordinance enacted by the Governor of Hong-kong, with the advice of the Legislative Council thereof, entitled the "Companies Ordinance, 1881."
BE
[29th August, 1881.]
E it enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:---
I. This Ordinance shall not apply to Banking Companies.
II. This Ordinance shall, so far as is consistent with the tenor thereof, be construed as one with the Companies Ordinance, 1865, the Companies Ordinance, 1866, and the Companies Ordinance, 1877, and those Ordinances together with this Ordinance may be referred to as the Companies Ordinances 1865 to 1881.
III. Subject as in this Ordinance mentioned, any Company registered before or after the passing of this Ordinance as an unlimited Company may register under the Companies Ordinances 1865 to 1881 as a limited Company, or any Company already registered as a limited Company may re-register under the provisions of this Ordinance.
The registration of an unlimited Company as a limited Company in pursuance of this Ordinance shall not affect or prejudice any debts, liabilities, obligations or contracts incurred or entered into by, to, with, or on behalf of such Company, prior to such registration as aforesaid, and such debts, liabilities, contracts and obligations may be enforced in manner provided by The Companies Ordinance, 1866, in the case of a Company registering in pursuance of that Ordinance or otherwise.
IV. An unlimited Company may, by the resolution passed by the members when assenting to registration as a limited Company under the Companies Ordinances 1865 to 1880, and for the purpose of such registration or otherwise, increase the nominal amount of its capital by increasing the nominal amount of such of its shares.
Provided that no part of such increased capital shall be capable of being called up, except in the event of and for the purposes of the Company being wound up.
And, in cases where no such increase of nominal capital may be resolved upon, an unlimited Company may, by such resolution as aforesaid, provide that a portion of its uncalled capital shall not be capable of being called up except in the event of and for the purposes of the Company being wound up.
A limited Company may, by a special resolution, declare that any portion of its capital which has not been already called up shall not be capable of being called up except in the event of and for the purposes of the Company being wound up, and thereupon such portion of capital shall not be capable of being called up, except in the event of and for the purpose of the Company being wound up.
...
Ordinance nu
to apply to Ban.
Crdiaator 10
be trud with the Com Jules Ordi FL 1955
186 187
Registration
use of Com-
with
labelly
RENAT
(pfialn Company bow prorină.
142
his report, a copy of which is inclosed__ has explained the objects and reasons of the Ordinance.
I have the honour to be,
-My Lord, Your Lordship's Mest Obedient
Humble Servant,
Administrator.
Rep
{
0.
20.393
RECR
(REGO 21 NOVA;
Mch bemerg
Govern
unt Commandeam Chief.
No. 14 of 1881.
An Ordinance enacted by the Governor of Hong- kong, with the advice of the Legislative Council thereof, entitled the "Companies Ordinance, 1881."
BE
[29th August, 1881.]
E it enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:---
T. This Ordinance shall not apply to Banking Companies. II. This Ordinance shall so far as is consistent with the tenor thereof be construed as one with the Companies Ordinance, 1865, the Companies Ordinance, 1866, and the Companies Ordinance, 1877, and those Ordinances together with this Ordinance may be referred to as the Companies Ordinances 1865 to 1881.
III. Subject as in this Ordinance mentioned any Con- pany registered before or after the passing of this Ordinance As an unlimited Company may register under the Companies Ordinances 1865 to 1881 as a limited Company, or any Company already registered as a limited Company may re-register under the provisions of this Ordinance.
The registration of an unlimited Company as a limited Company in pursuance of this Ordinance shall not affect or prejudice any debts, liabilities, obligations or contracts incurred or entered into by, to, with, or on behalf of such Company, prior to such registration as aforesaid, and such debts, liabilities, contracts and obligations may be enforced in manner provided by The Companies Ordinance, 1866, in the case of a Company registering in pursuance of that Ordinance or otherwise.
IV. An unlimited Company may by the resolution passed by the members when assenting to registration as a limited Company under the Companies Ordinances 1865 to 1880, and for the purpose of such registration or otherwise increase the nominal amount of its capital by increasing the nominal amount of ouch of its shares.
Provided that no part of such increased capital shall be capable of being called up, except in the event of and for the purposes of the Company being wound up.
And, in cases where no such increase of nominal capital may be resolved upon, an unlimited Company may, by such resolution as aforesaid, provide that a portion of its uncalled capital shall not be capable of being called up except in the event of and for the purposes of the Company being wound up.
A limited Company may by a special resolution declare that any portion of its capital which has not been already called up shall not be capable of being culled up except in the event of and for the purposes of the Company being wound up, and thereupon snch portion of capital shall noi be capable of being called up, except in the event of and for the purpose of the Company being wound up.
Ordinance nu
to apply to Ban.
Crdiaator 10
be trud with the Com Jules Ordi FL 1955
186 187
Registration
use of Com-
with
labelly
RENAT
(pfialn Company bow prorină.
142
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