TNAG-0809-FCO40-1014-Legislation-for-Crown-lands-in-Hong-Kong-1978 — Page 178

(51 of 1978.)

COMPANIES (AMENDMENT)

Ord. No. 51/78

A181

apply in relation to any body in respect of which a licence (being a licence granted under this Ordinance in respect of the registration of that body as a company with limited liability without the addition of the word "Limited" to its name) is in force at the commencement of the Com- panies (Amendment) Ordinance 1978 as if such licence had been granted under this section after the commence- ment of that Ordinance.".

3. Section 22 of the principal Ordinance is amended by deleting Amendment of subsection (3).

section 22.

4. Section 147 of the principal Ordinance is repealed and replaced Repeal and by the following-

"Proceedings on inspector's report.

[cf. 1967 c. 81, ss. 35 & 37.]

147. (1) In relation to any prosecution arising from any report made under section 146, it shall be the duty of all officers and agents of the company or other body corporate whose affairs have been investigated by virtue of section 144, other than the defendant in the proceedings, to give to the Attorney General all assistance in connexion with the prosecution that they are reasonably able to give, and section 145(5) shall apply for the purposes of this sub- section as it applies for the purposes of that section.

(2) If, in the case of any body corporate liable to be wound up under this Ordinance, it appears to the Financial Secretary from any report made under section 146-

(a) that it is expedient in the public interest that the body should be wound up, he may present a petition for it to be wound up if the court thinks it just and equitable for it to be so wound up; (b) that the business of such body corporate is being conducted in a manner unfairly prejudicial to the interests of any part of its members, he may (in addition to, or instead of, presenting a petition under paragraph (a)) present a petition for an order under section 168A.

(3) If from any report made under section 146 it appears to the Financial Secretary that any civil proceedings ought in the public interest to be brought by any body corporate, he may himself bring such proceedings in the name of and on behalf of the body corporate.

(4) The Government shall indemnify the body corporate against any costs or expenses incurred by it in or in con- nexion with any proceedings brought by virtue of subsection (3).".

5. Section 148 of the principal Ordinance is amended-

(a) in subsection (1)(a) by deleting "147(4), to such extent as, in

either case," and substituting the following-

"147(3), or who is ordered to pay the whole or any part of the costs of any such proceedings, to such extent as";

(b) in subsection (3) by deleting "147(4), including expenses incurred by virtue of subsection (5)" and substituting the following-

"147(3), including expenses incurred by virtue of sub- section (4)".

replacement of section 147.

Amendment of section 148.