TNAG-1856-FCO40-2631-Legislative-Council-of-Hong-Kong-memoranda-and-minutes-of-me-1989 — Page 31

HONG KONG LEGISLATIVE COUNCIL –

香港立法局 一九八九年七月五日

5 July 1989

15

First Reading of Bills

COMPANIES (AMENDMENT) BILL 1989

HONG KONG INDUSTRIAL ESTATES

(AMENDMENT) BILL 1989

CORPORATION

PROTECTION OF INVESTORS (AMENDMENT) BILL 1989

SUPPLEMENTARY APPROPRIATION (1988-89) BILL 1989

CHARITABLE TRUST FUNDS (MISCELLANEOUS AMENDMENTS) BILL 1989

LI PO CHUN CHARITABLE TRUST FUND (AMENDMENT) BILL 1989

Bills read the First time and ordered to be set down for Second Reading pursuant to Standing Order 41(3).

Second Reading of Bills

COMPANIES (AMENDMENT) BILL 1989

THE FINANCIAL SECRETARY moved the Second Reading of: "A Bill to amend the Companies Ordinance."

He said: Sir, I move that the Companies (Amendment) Bill 1989 be read the Second time.

The main purpose of the Bill is to increase existing fees collected by the Companies Registry of the Registrar General's Department and to introduce new fees in order to recover the full cost incurred by the Companies Registry in carrying out statutory responsibilities under the Companies Ordinance.

The opportunity is also taken to streamline the arrangements for setting fees relating to company matters. One of the arrangements is to permit fee setting by a global costing approach. Fees will still be cost-related but on a broader basis. Instead of a separate costing exercise for each individual fee, which is neither practical nor economical, services charged by the Companies Registry will be