TNAG-1733-FCO40-2446-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 64

COMPANIES (AMENDMENT) (NO.2) BILL 1988

THE CHIEF SECRETARY moved the Second Reading of : 'A Bill to amend the Companies Ordinance'.

He said:

Sir

I move that the Companies (Amendment) (No. 2)

Cap Bill 1988 be read a second time.

le companies Judge

stet

this Bill is to

enable

the

of The purpose

Judge to give more time to the hearing of contested petitions for the winding-up of companies by allowing the Supreme Court Masters to hear uncontested tet petitions. It is very similar in its general intent to on which I have just the Bankruptcy (Amendment) Bill spoken.

A petition to wind up a company is presented at the Supreme Court Registry, when a date for hearing is appointed. It is then advertised and served upon the company, unless the petition is presented by the company itself. Anyone who wishes to object to the petition for the winding-up of a company must file an affidavit for such purpose within seven days of the date on which the petition is filed.