17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 6

Section.

455

PART VIII.

WINDING UP of UnregiSTERED COMPANIES,

245. Meaning of unregistered company,

246. Winding up of unregistered companies.

247.

248.

(outributories in winding up of muregistered company. Power of court to stay or restrain proceedings.

249. Actions stayed on winding-up order.

250.

251.

252. 253.

254.

255.

256.

257.

Directions as to property in certain cases.

Provisions of Part of Ordinance cumulative.

PART IX.

COMPANIES ESTABLISHED OUTSIDE THE Colony, Requirements as to companies established outside the Colony. Power of companies incorporated outside the Colony to hol?

lands.

PART X.

SUPPLEMENTAL.

Legal Proceedings, Offences, &c,

Prosecution of offences,

Applications of fines.

Costs in actions by certain limited companies. Power to strike off register on non payment of fire. 258. Power of court to grant relief in certain cases.

Penalty for false statement,

259.

260.

Penalty for improper use of word “Limited,”

261. Interpretation.

Interpretation, Se.

Repeal of Ordinances and Transitional Procistons

262. Repeal of Ordinances and savings.

263. Saving of pending proceedings for winding up.

261. Saving of deeds,

265. Former registration offices, registers, official receivers, &c.

continued.

206. Saving for existing rules of procedure, &c.

21.7.

Substitution of provisions of this Ordinance for provisions of

repealed Ordinances.

268. Saving for Life and Fire Insurance Companies Ordinances,

Commencement of Act,

269.

SCHEDULES.

A BILL

ENTITLED

An Ordinance to consolidate and amend the

Ordinances relating to companies.

BE it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Companies shent title. Ordinance, 1910.

PART I.

CONSTITUTION AND INCORPORATION.

Prohibition of Large Partnerships.

2.-(1) No company, association, or partnership con- Prohibition. sisting of more than ten persons shall be formed after the of partner- comenecment of this Ordinance for the purpose of carrying ships exceed on the business of banking, unless it is registered as a ing certain con-pany under this Ordinance, or is formed in pursuance 3 Edw. 70. of some other Ordinance, or of letters patent.

(2) No company, association, or partnership consisting of more than twenty persons shall be formed for the pur- pose of carrying on any other business that has for its object the acquisition of gain by the company, association, or partnership, or by the individual members thereof, unless it is registered as a company under this Ordinance, or is formed in pursuance of some other Ordinance, or of letters patent.

number.

69 - 1.