CO129-354 - Public Offices & Others - 1908 — Page 54

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

C.O. 53 [C. No. 9.]

It is requested that any reply to this Letter may be addressed to the Comptroller of the Companies Department, 8, Delahay Street, Westminster, London, S.W., (Telegraphic Address: "Companies London,") and that the following number may be quoted:-- 168. 8668

In 10 MAR 08

BOARD OF TRADE 9th March, 1908.

Goo 1189 07.8

Sir,

I am directed by the Board of Trade to refer to Mr. Antrobus' letter of 27th January last, in which the observations of the Board of Trade are asked for on the Ordinance of Hong Kong No. 16 of 1907.

In reply, I am to say, with reference to the annual licence duty at the rate of four cents for every hundred dollars paid-up capital of the company to which the licence is issued, that it would seem right, as a matter of logical fairness, that this annual duty should only be chargeable on the amount of shares in the local registry and not on the total amount of a company's nominal capital. The amount of the shares in the local registry is easily ascertainable, for, under section 4 (6) of the Ordinance, the shares registered in a local register are to be distinguished from the shares registered in the principal register.

I am, further, to point out that section 4 (8) (a), which closely follows the wording of section 3 (7) (a) of the British Act of 1883, departs from the original in a material particular. The British section provides that a transfer of a share registered in a Colonial register shall...

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C.O. 53 [C. No. 9.] It is requested that any reply to this Letter may be addressed to the Comptroller of the Companies Department, 8, Delahay Street, Westminster, London, S.W., (Telegraphic Address: "Companies London,") and that the following number may be quoted:-- 168. 8668 In 10 MAR 08 BOARD OF TRADE 9th March, 1908. Goo 1189 07.8 Sir, I am directed by the Board of Trade to refer to Mr. Antrobus' letter of 27th January last, in which the observations of the Board of Trade are asked for on the Ordinance of Hong Kong No. 16 of 1907. In reply, I am to say, with reference to the annual licence duty at the rate of four cents for every hundred dollars paid-up capital of the company to which the licence is issued, that it would seem right, as a matter of logical fairness, that this annual duty should only be chargeable on the amount of shares in the local registry and not on the total amount of a company's nominal capital. The amount of the shares in the local registry is easily ascertainable, for, under section 4 (6) of the Ordinance, the shares registered in a local register are to be distinguished from the shares registered in the principal register. I am, further, to point out that section 4 (8) (a), which closely follows the wording of section 3 (7) (a) of the British Act of 1883, departs from the original in a material particular. The British section provides that a transfer of a share registered in a Colonial register shall...

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C.O. 53 [C. No. 9.] It is requested that any reply to this Letter may be addressed to the Comptroller of the Companies Department, 8, Delahay Street, Westminster, Loudon, S.W., (Telegraphic Address: Companies London,") and that tho following number may be quoted :-- 168. 8668 In 10 MAR 08 BOARD OF TRADE 9th. March, 1908. Goo 1189 07.8 Sir, I am directed by the Board of Trade to refer to Mr. Antrobus' letter of 27th. January last, in which the observations of the Board of Trade are asked for on the Ordinance of Hong Kong No. 16 of 1907. 4 2 In reply I am to say, with reference to the annual licence duty at the rate of four cents for every hundred dollars paid up capital of the company to which the licence is issued, that it would seem right, as a matter of logical fairness, that this annual duty should pnly be chargeable on the amount of shares in the local registry and not on the total amount of a company's nominal capital. The amount of the shares in the local registry is easily ascertainable, for, under section 4 (6) of the Ordinance, the shares registered in a local register are to be dis- tinguished from the shares registered in the principal register. I am, further, to point out that section 4 (8) (a), which closely follows the wording of section 3 (7) (a) of the British Act of 1883, departs from the original in a material particular. The British section provides that a transfer of a share registered in a Colonial register shall/ as

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C.O.

[C. No. 9.]

It is requested that any reply to this Letter may be addressed to the Comptroller of the Companies Department, 8, Delahay Street, Westminster, Loudon, S.W., (Telegraphic Address: Companies London,") and that tho following number may be quoted :--

168.

8668

In 10 MAR 08

BOARD OF TRADE

9th. March, 1908.

Goo

1189

07.8

Sir,

I am directed by the Board of Trade to refer to

Mr. Antrobus' letter of 27th. January last, in which the

observations of the Board of Trade are asked for on the

Ordinance of Hong Kong No. 16 of 1907.

2 In reply I am to say, with reference to the annual licence duty at the rate of four cents for every hundred dollars paid up capital of the company to which the licence is issued, that it would seem right, as a matter of logical fairness, that this annual duty should pnly be chargeable on the amount of shares in the local registry and not on the total amount of a company's nominal capital. The amount of the shares in the local registry is easily ascertainable, for, under section 4 (6) of the Ordinance, the shares registered in a local register are to be dis- tinguished from the shares registered in the principal register.

CO129-354 - Public Offices & Others - 1908 — Page 54

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