CO129-510-15 China (Companies) order in Council- 1925- correspondence 19-4-1928 - 31-12-1928 — Page 53

53

A BILL

intituled

An Ordinance to amend further the

Companies Ordinance, 1911..

Be it enacted by the Governor of Hongkong, with

the advice and consent of the Legislative Council, as

follows:-

Short title.

1.

Amendment

of Ordi-

nance No. 58 of 1911 s. 273.

This Ordinance may be cited as the Companies

Amendment Ordinance, 1928.

2.

2.

Section 273 of the Companies Ordinance, 1911,

is amended by the addition of the following sub-

section at the end thereof:

(7) The annual fee payable under sub-section (4)

shall be paid at the rate of one,cent, and not

four cents, for each hundred dollars of the paid

up capital if the China Company in question is a

private company and if, further, the Governor in

Council is of opinion that substantially all the

shares in the said company are held by a parent

company which was incorporated either in this

Colony or in the United Kingdom or in some British

possession.

Objects and Reasons.

The object of this Ordinance is to reduce the

annual China Companies fee from 4 cents to 1

cent per hundred dollars of paid up capital in

the case of private companies substantially all

the shares in which are held by a parent company.

(Sa.) J. H. Kemp.

Attorney General.

22nd January, 1928.