CO129-457 - Public Offices - 1919 — Page 259

252

TIATI

Marine Insurance Companies Ordinance,

1917 of the balony of Hong Kong and in-

cludes any Ordinance amending or sub-

stituted for the same.

"The Ordinance* 'means "the Companies

Ordinance, 1911 of the Colony of Hong

Kong" and includes any ordinance amend-

ing or substituted for the same.

3.

+

There the general or substantial

control of the business of a Company

incorporated under the Ordinance is exer-

cised by a person or nersons ordinarily resident within the limits of this Order,

such Company shall, irrespective of the

place at which the Board of Directors may meet or of any other circumstances,

be deemed to be a Company of which the opera- tions are directed and controlled from a

place within the limits of this order and

all be a China Company within the meaning of the China (Companies) Order in Council 1915.

4. (1) › No.person other than a British sub-

1

ject resident. within the limits of this Order shall act as managing director or in any position similar to that of managing director or shall otherwise exercise general or substantial control of the business of a China Company.

(2) if default is made in commliance with this article the Coɑmany shall be liable to a fine not exceeding 50 dollars for every day ¡ during which the default continues and every

director and every mansger of the Commany who

Su 511

$235,

Seputa

offman

$15

knowingly authorises or permits the de- fault shall be liable to the like penalty (3) Failure to comply with the provision of this article shall be a ground upon which an order for winding up the Company may be made by the Court.

(4) This Article shall come into force

80 days after the publication of this

Order.

5. (1) The provisions of the Fire and Marine Insurance Companies Ordihance shall be applied to China Companies and Hong Kong China Companies.

(2) All acts done within the limits:

of this Order in pursuance of the Fire and Marine Insurance Companies Ordininge by to with or before the Registrar of Companies at Shanghai shall subject to th

provisions of this Order be of the sabe force and validity as if they had been done by with or before the Registrar of Companies in Hong Kong.

(3) The Registrar of Companies at

Shanghai shall be entitled to initiate

such proceedings as he may think necessar

to enforce compliance with the provisions

of this Order.

6. (1) Subject to the provisions of this

Order the jurisdiction of the Court in

respect of Chinh Companies and Hong Kong China Companies, shall be exer-

cised, so far as circumstances adət in

conformity with the provisions of the Fir

and liarine Insurance Companies Ordinance,

(2) The duties of the Governor or of

the Governor in council under sections 5

knowingly