TNAG-0809-FCO40-1014-Legislation-for-Crown-lands-in-Hong-Kong-1978 — Page 180

7.

COMPANIES (AMENDMENT)

Ord. No. 51/78

A183

strued as including a reference to any such personal repre- sentative, trustee or person beneficially interested.

(6) Section 296 shall apply in relation to a petition under this section as it applies in relation to a winding-up petition.".

Section 180 of the principal Ordinance is amended by inserting Amendment of after subsection (1) the following-

"(1A) Where the petition is presented by members of the company as contributories on the ground that it is just and equitable that the company should be wound up, the court shall not refuse to make a winding-up order on the ground only that some other remedy is available to the petitioners unless it is also of opinion that they are acting unreasonably in seeking to have the company wound up instead of pursuing that other remedy.".

8. Section 345 of the principal Ordinance is amended--

(a) by being renumbered as subsection (1); and

(b) by inserting the following-

(Cap. 159.)

(Cap. 50.)

9.

"(2) This section shall not apply to a partnership formed-

(a) for the purpose of carrying on practice as solicitors and consisting of persons each of whom is a solicitor qualified to act as such under the Legal Practitioners Ordinance;

(b) for the purpose of carrying on practice as account- ants and consisting of persons each of whom is registered as a professional accountant and holds a practising certificate under the Professional Account- ants Ordinance;

(c) for the purpose of carrying on business as a member of a recognized stock exchange and consisting of persons each of whom is a member of that exchange; (d) for the purpose of carrying on a profession, voca- tion or business specified in regulations made by the Governor in Council and consisting of persons who satisfy any conditions imposed by those regulations. (3) For the purposes of this section, a body corporate shall be treated as a single person and any body unincor- porate shall be treated as being the same number of persons as those who comprise it.".

The Inland Revenue Ordinance is amended-

section 180.

Amendment of section 345.

Consequential amendment.

(a) in section 19C by deleting subsection (7) and substituting the (Cap. 112.)

following-

(Cap. 32.)

"(7) For the purposes of this section-

(a) "partnership" does not include a partnership (other than a partnership referred to in section 345(2) of the Companies Ordinance) consisting at any time in the year of assessment of more than 20 partners; (b) in calculating the number of partners in a partner- ship, there shall be included every partner in any other partnership which is itself a partner in the first-mentioned partnership.";

Page 180Page 181