6990-1907-Bill-read-a-first-time--Companies-Extra-Colonial-Registers- — Page 2

1242 THE HONGKONG GOVERNMENT GAZETTE, OCTOBER 4, 1907.

Short title.

Construction.

Definitions.

A BILL

ENTITLED

An Ordinance to amend the Law relating to

Companies.

WHEREAS many companies registered under the Com- panies Ordinance, 1865, carry on business in places outside the Colony and dealings in their shares are frequent in such places, but there is no provision for keeping local registers of members, and. it is expedient that such pro- visions as this Ordinance contains be made in that behalf.

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 for all purposes as the Companies (Extra Colonial Registers) Ordinance, 1907.

2. "The Companies Ordinance, 1865," is hereinafter re- ferred to as "The Principal Ordinance"; and the Principal Ordinance and this Ordinance are hereinafter distinguished as and may be cited as "The Companies Ordinances, 1865 and 1907"; and this Ordinance shall, so far as is consistent with the tenor thereof, bo read and construed as one with the Principal Ordinance.

3. In this Ordinance :

The term " company means a company registered under the Companies Ordinance, 1865, and having a capital divided into shares.

The term "shares" includes stock.

4.-(1.) The Governor-in-Council may at his discretion issue an annual licence to any company whose objects comprise the transaction of business outside the Colony, if such company is authorised so to do by its regulations as originally framed or as altered by special resolution, em- powering such company to keep in any place in which it transacts business a register or registers of members.

(2.) An annual fee at the rate of four cents for every hundred dollars of the paid up capital of the company to which the licence is issued shall be payable in respect of such licence. Such fee shall be paid to the Colonial Trea- surer prior to the 30th Juue in each year.

(3.) The company shall give to the Registrar of Com- panies notice of the situation of the office where any such register (in this Ordinance called an extra colonial register) is kept or proposed to be kept, and of any change therein, and of the discontinuance of any such office in the event of the same being discontinued

(4.) An extra colonial register shall, as regards the particulars entered therein, be deemed to be a part of the Company's register of members, and shall be primâ facie evidence of all particulars entered therein. Any such register shall be kept in the manner provided by the Prin- cipal Ordinance, with this qualification, that the advertise- ment mentioned in section 40 of the Principal Ordinance, 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 in Hongkong a copy of every entry in its extra colonial register or registers as soon as conveniently may be after such entry is made, and the company shall cause to be kept at its registered office, duly entered up from time to time, a duplicate or duplicnes of its extra colonial register or registers. The provisions of section 39 of the Principal Ordinance shall apply to every such duplicate, and every such duplicate shall, for all the purposes of the Principal Ordinance, be decined to be part of the register of members of the Company.

extra

(6.) Subject to the provisions of this Ordinance with respect to the dupliente register, the shares registered in an colonial register shall be distinguished from the shares registered in ti e principal register, and no transaction with respect to any lace registered in an extra colonial register shail, during the continance of the registration of such share in su es colonial register, be registered in any other register.