712766-1866-GOVERNMENT-NOTIFICATION — Page 2

36

Title.

THE HONGKONG GOVERNMENT GAZETTE, 24TH FEBRUARY, 1866.

Section IV of "The Companies Ordinance 1865" repealed and

An Ordinance to amend "The Companies Ordinance 1865."

Be it enacted by His Excellency the Governor of Hongkong with the advice of the Legislative Council thereof as follows:

I. "The Companies Ordinance 1865" is hereby amended by repealing Section IV new Section inserted and by inserting in lieu thereof the Section following:-

in licu thereof.

Prohibition of Partnerships exceed- ing certain number.

Section V. of "The

Companies Ordinance 1865" repealed and

IV. No Company Association or Partnership consisting of more than Twenty Persons shall be formed after the commencement of this Ordinance for the purpose of carrying on any 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 a Charter of Incorporation or of Letters Patent. Provided always that nothing in this Ordinance contained shall apply to or affect any Company Association or Partnership formed for the purpose of carrying on the Business of Banking.

II. "The Companies Ordinance 1865" is further amended by repealing Section V

new Section inserted and by inserting in lieu thereof the Section following:-

in lieu thereof.

Division of Ordinance.

Section VI of "The

V. This Ordinance is divided into Six Parts relating to the following subject

matters:-

The First Part to the Constitution and Incorporation of Companies and Associations

under this Ordinance.

The Second Part to the Distribution of the Capital and Liability of Members of

Companies and Associations under this Ordinance.

The Third Part to the Management and Administration of Companies and Associa

tions under this Ordinance.

The Fourth Part to the Winding up of Companies and Associations under this

Ordinance.

The Fifth Part to the Registration Office.

The Sixth Part to the Repeal of Ordinances.

II. "The Companies Ordinance 1865" is hereby further amended by inserting in Companies Crdinance the first line of the sixth section thereof after the word "Purpose" the words following:-

1865" amended.

"The Companies Ordinance 1865".

amended by repealing Section XXXVIII.

Section XLIV of "The Companies Ordinance 1865” amended.

Part of Section LVI

Ordinance 1865"

•

"except that of carrying on the Business of Banking."

IV. "The Companies Ordinance 1865" is hereby further amended by repealing Section XXXVIII thereof and by renumbering, the remaining Sections as though the Section repealed had never been inserted.

V. "The Companies Ordinance 1865" is hereby further amended by expunging from Section XLIV thereof the words "Every Limited Banking Company and."

VI. "The Companies Ordinance 1865" is further amended by expunging from Section of "The Companies LVI thereof the Paragraph numbered (1) and'commencing with the words "In the case. of a Banking Company" and concluding with the words "being issued" and by expung- ing from the Paragraph numbered (2) the word "other" and by renumbering the Para- graphs of the same Section as though the expunged Paragraph had never been inserted.

repealed.

Section CLI of the

VII. Section CLI of "The Companies Ordinance 1865" is further amended by "Companies Ordinan- inserting after the words "wound up" in the seventh and eighth lines thereof the words

following:--

ce 1865" amended.

Power to Commission-

ers to make foregoing

"and the words" the Board of Trade "shall be read as meaning His Excellen-

'cy the Governor.”

VIII. It shall be lawful for the Commissioners appointed to compile a new Edition amendments &., in of the Ordinances to make therein and they are hereby required to make therein the the new Edition of several amendments herein before mentioned. The Commissioners shall also in the new Edition expunge from the said Ordinance the words and figures preceding Section XXXVIII that is to say:-

the Ordinances.

PART III.

"Liability of Banking Companies issuing Notes"

and also shall where the Words and Figures "Part IV," "Part V" "Part VI," and "Part VII" occur in the subsequent part of the said Ordinance substitute therefor Part III, Part IV, Part V, and Part VI respectively.