Notice to
company keeping a local register without a licence and proceedings consequent thereon.
Ord. 16 of 1907 s. 6.
824
(4) A local register shall, as regards the particulars entered therein, be deemed to be a part of the company's register of members, and shall be prima facie evidence of all particulars entered therein. Any such register shall be kept in the manner provided by this Ordinance, with this qualification, that the advertisement mentioned in section 36 shall be inserted in some newspaper circulating in the district wherein the register to be closed is kept.
(5) The company shall transmit to [its registered office the registrar in Hongkong a copy of [every entry in its local register or the annual list registers as soon as may be after such entry is made, and members referred to the company shall cause to be kept at its registered office, in section 27 within duly entered up from time to time, a duplicate or duplicates fourteen days after of its local register or registers. The provisions of section such list has been 26 shall apply to every such duplicate, and every such
made. duplicate shall, for all the purposes of this Ordinance, be deemed to be part of the register of members of the company.]
(6) Subject to the provisions of this Ordinance with respect to the duplicate register, the shares registered in a local register shall be distinguished from the shares regis- tered in the principal register and no transaction with respect to any share registered in a local register shall, during the continuance of the registration of such share in such local register, he registered in any other register.
(7) The company may discontinue the keeping of any local register, and thereupon all entries in that register shall be transferred to some other local register kept by the company, or to the register of members kept at the register- ed office of the company.
(8) In relation to stamp duties the following provisions shall have effect :-
(a) An instrument of transfer of a share registered in a local register under this Ordinance, shall, unless exccuted within the Colony, be exempt from stamp duty.
(b) The share or other interest of a deceased menu- her registered in a local register under this Ordinance shall as far as relates to Colonial probate duty not be deemed to be part of his estate and effects situated in the Colony for or in respect of which probate or letters of in- istration is or are to be granted or whereof an inventory is to be exhibited and recorded. (c) Subject to the provisions of this Ordinance, and of any rules made thereunder, any company may by its regulations as originally framed, or as altered by special resolution, make such provisions as it may think fit respecting the keeping of local registers.
36.-(1.) When the registrar has reasonable cause to believe that a company is keeping in any place where it transacts business outside the Colony a register of members without having a valid licence under this Ordinance he shall publish in the Gazette and send to the com- pany a notice that at the expiration of two months from the date of such notice the name of the company mentioned therein will unless eanse to the contrary be shown be struck off the register and the company will be dissolved.
(2) At the expiration of the time mentioned in the notice the registrar may, unless cause to the contrary is previously shown by the company, strike the name of the company off the register and shall publish notice thereof in the Gazette and on such publication the company whose name is so struck off shall be dissolved: Provided that the liability, if any, of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
(3) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursuance of this section, the company or mem- ber may apply to the court, and the court, if it be satisfied that it is just to do so, may order the name of the company to be restored to the register and thereupon the company shall be deemed to have continued in existence as if the name had never been struck off: and the court may, by
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