CO129-557-9 British protection of companies in China 26-3-1936 - 27-2-1937 — Page 148

2.

148

As returns do not call for the nationality of

shareholders the above figures must perforce be approx-

imate only.

If the 37 non-complying companies were forced off

the register, Hong Kong would, working on this year's

figures, lose something like Shanghai 87,250 in annual

fees. The probability is, however, that most of them

would adjust their arrangements so as to fall in line,

and there would in fact be very little loss.

4.

Private companies incorpo sated within the British Empire.

of 65 of these, 49 fulfil all the proposed require-

ments, 9 fulfil none and 7 fail in one or more of the

requirements.

The returns do not call for a distinction between

managing director and directors, nor for the nationality

of the shareholdere. Neither is it possible to check

up on the 2/3 of the persons having authority to sign.

The effect on revenue is difficult to estimate

as i

is impossible to foretell how many companies

would prefer to come into line rather than lose their

British status.

The loss to the Foreign Office would be negligible,

The total revenue from registration of companies fees

was £29.4 in 1934 and £26 from January to November this

year. The registration fee of £1 is naid once only by

a company, unless it changes its name. The only annual

fee is 2/- for a return of directors, with an occasional

extra 2/- if there is a change of local representative.

There is no penalty for default, and quite a number of

companies don't trouble to file these particulars.

/ Hong Kong