609275-1928-Supplementary-Bills-read-a-first-time--Companies-Amendment-Widows-and-Orphans-Pension-Amendment — Page 1

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LEGISLATIVE COUNCIL.

No. S. 205.-The following Bills were read a first time at a meeting of the Council held on the 12th July, 1928:

C.S.O. 601/15 Pt. II.

A BILL

[No. 17:-4.7.28.-1.]

INTITULED

An Ordinance to amend further the Companies

Ordinance, 1911.

Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Companies Short title. Amendment Ordinance, 1928.

2. Section 273 of the Companies Ordinance, 1911, Amendment is amended by the addition of the following sub-section of Ordinance at the end thereof :---

(7) The annual fee payable under sub-sec- tion (4) shall be paid at the rate of one cent, and not four cents, for each hundred dollars of the paid up capital if the China Company in question is a private company and if, fur- ther, the Governor in Council is of opinion that substantially all the shares in the said company are held by a parent company which was incorporated either in this Colony or in the United Kingdom or in some British possession.

No. 58 of 1911, s. 273.

Objects and Reasons.

The object of this Ordinance is to reduce the annual China Companies fee from 4 cents to 1 cent per hundred dollars of paid up capital in the case of private com- panies substantially all the shares in which are held by a parent company.

4th July, 1928

H. F. POLLOCK,

Attorney General.