CO129-510-15 China (Companies) order in Council- 1925- correspondence 19-4-1928 - 31-12-1928 — Page 51

No. 601/1915.

Colonial Secretary's

Office,

Hongkong,

17th February, 1928.

51

Gentlemen,

With reference to your letters of the

23th June and 3rd October, 1927 on the subject of

the annual fee payable by China companies, I am

directed to send you a copy of a bill which has

been drafted with a view to reducing the annual

fee from 4 cents to 1 cent on each $100 of the

paid up capital of a China company in cases where

(a) the company in question is a private company,

and where (b) substantially all the shares in the

company are held by a parent company incorporated

in some part of the British Empire.

2.

It is intended to make the proposed

Ordinance effective as from and including the

1st January, 1928. The present practice of re-

funding the hole of the fee where substantially

all the shares in one China company are held by

another China company will of course simultaneously

come to an end.

3.

In your case, however, and in the case of

your associated companies, it is proposed that the

new system shall be made effective in respect of the

year 1927 also, and the necessary adjustments will

be made.

British American Tobacco Co. (China) Ltd.

Hongkong.