356
—
138
-
139
-
357
This is taken from
No. 58 of 1911, 5. 27/3)
This is from No. 58 of 1911.
5. 272.
These 3 Sub-sections
are from 55(2) (3) (4)
of section 243 of
No.59
of 1911.
the exemption given by sub-section (1)
to China Companies has been incorporated into the text of Section 103.
Appeala
Notices to be registered.
Jurisdiction of Hong Kong Court and Supreme
Court for China in matters relating to Hong Kong China Com- panies.
Transfer of
proceedings
relating to Hong Kong China Com- panies.
Enforcement in Colony of order of Supreme Court for China.
Stamp
duties or transfers of shares. Probate and estate duty.
China com- panies to
pay an
annual fee.
(4) If the copy tong
concerned, or the registrar of companies, at, Shanghai, is dissatisfied with any such order of transfer or determination aforesaid, it shall be lawful for it or him to appeal to the court.
Such appeal shall be made by originating sum
mons.
Such originating summons shall be issued within one month after the service of the notice of such transfer or determination on the company concerned : Provided that the court shall have power to extend the time before or after the expiration of the said period of one month.
If any such appeal is not prosecuted with all due diligence, it shall be lawful for the court to dismiss
it.
Upon such appeal the court may make such order as may seem to it desirable.
(5) The registrar of companies or the registrar of companies at Shanghai shall register any such notice as is referred to in this section given to him by a company.
351.-(1) In all matters relating to a Hong Kong China company, the jurisdiction of the court and the jurisdiction of the Supreme Court for China shall be concurrent and the said two courts shall in all respects be auxiliary to each other.
(2) Where any proceeding relating to a Hong Kong China company, or for the winding-up of any such company, are commenced in the court and it appears that the principal part of such company's business is carried on within the limits of the China Orders in Council, or that for any other reason such pro- ceedings might conveniently be carried on within the limits of the said Orders in Council, the court may, of its own motion, or on the application of any party, make an order transferring the proceedings to the Supreme Court for China.
(3) The court shali enforce within the Colony any order or decree made by the Supreme Court for China in the course of any proceedings relating to a China company or to a Hong Kong China company or for the winding-up of any such company in the same manner as if such order or decree had been made by the court.
352.-(1) An instrument of transfer of a share in a China company shall be exempt from stamp duty.
(2) No probate duty or estate duty shall be payable in respect of the share or other interest of a deceased member of a China company in such company.
(3) In lieu of the aforesaid duties, an annual fee for each calendar year at the rate of four cents for each hundred dollars of the paid un capital of the company shall be an advance every China company to the Colonia Treasurer of Hong Kong on or before the 31st day of January in each year: Provided that where a company is placed on the register at Shanghai after the 1st day of January in any given calendar year a proportionate part only of the said fee shall be payable in respect of the period from the date of it being so placed on the register at Shanghai to the 31st day of December next following.
The words
Flony Home Camer
(4) If any company makes default in complying with Fenalty. This is from No.58 of 1911,
the provisions of sub-section (3), it shall be liable to a penalty not exceeding fifty dollars for every day during which the default continues, and every director, officer and agent of the company who knowingly or wilfully authorises or permits the default shall be liable to the like penalty.
(5) The annual fee payable under sub-section (3) 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,
PART XV.
REPEAL AND SAVINGS.
S. 273 (6)
This is from No.12 of 1928, 5.2.
Repeal of
Compare section 381
of the Companies Act, 1929.
3531) The Companies Ordinance, 1911, and the Ordinances Companies Amendment Ordinances, 1925, 1928. 1929 No. 58 of and 1980 are repealed.
1911, No. 15 of 1925,
(2) Without prejudice to the provisions of section No. 12 of twelve of the Interpretation Ordinance, 1911, Ordi- No. 31 of
nance No. 31 1911–
-1928,
1929 and
1930.
(a) nothing in this repeal shall affect any Order No. 26 of
in Council, order, rule, regulation, scale of fees, appointment, conveyance, mortgage, deed or agreement made, resolution passed, direction given, proceeding taken, instrument issued or thing done under any former enact- ment relating to companies, but any such Order in Council, order, rule, regulation, scale of fees, appointment, conveyance, mortgage, deed, agreement, resolution, direction, pro- ceeding, instrument or thing shall, if in force at the commencement of this Ordinance, con- 1inue in force, and so far as it could have been made, passed, given, taken, issued or done under this Ordinance shall have effect as if made, passed, given, taken, issued or done under this Ordinance:
(b) any document referring to any former enact- ment relating to companies shall be construed as referring to the corresponding enactment of this Ordinance
(c) any person appointed to any office under or by virtue of any former enactment relating to companies shall be deemed to have been appointed to that office under or by virtue of this Ordinance;
(d) any register kept under any former enactment relating to companies shall be deemed part of the register to be kept under the corresponding provisions of this Ordinance;
(e) all funds and accounts constituted under this Ordinance shall be deemed to be in con- tinuation of the corresponding funds and accounts constituted under the former enact- ments relating to companies.
(3) In this section the expression "former enact- ment relating to companies' means any enactment repealed by this Ordinance and any enactment repealed by the Companies Ordinance, 1911.
354. Nothing in this Ordinance shall affect-
(1) The incorporation of any company registered
under any enactment hereby repealed;
(2) Table A in the First Schedule annexed to the Companies Ordinance, 1865, or any part there- of, either as originally contained in that
for" "Act"
de
do
- Proviso relating to Act of
1908 omitted.
for "Act"
do
do.
do.
"Act and.....
1908"
for l
Savings,
19 & 20 Geo. 5, c. 23,
6. 382.
2- Bragraph (2) omitted.
for "Act, 1862"
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