7238-1907-Ordinance-passed-and-assented-to--Companies-Local-Registers--No-16 — Page 3

1470 THE HONGKONG GOVERNMENT GAZETTE, NOVEMBER 29, 1907.

(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 paid by such company in respect of such licence. Such fee shall be paid to the Colonial Treasurer within four months of the date of the licence.

(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 a local 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.) 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 primâ facic evidence of all particulars entered therein. Any such register shall be kept in the manner provided by the Principal Ordinance, with this qualification, that the advertisement mentioned in section 40 of the Principal Ordinance, shall be inserted iu some newspaper circulating in the district wherein the register to be closed is kept.

or

(5.) The company shall transmit to its registered office in Hongkong a copy of every entry in its local register registers as N001 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 duplicates of its local 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 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 register- ed 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, be registered in any other register,

(7.) The company may discontinne 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 :--

(.) An instrument of transfer of a share registered in a local register under this Ordinance shall, unless executed within the Colony, be exempt from stamp duty.

(b.) The share or other interest of a deceased member registered in a local register kept under this Ordinance shall so far as relates to colonial probate duty not be deemed to be a part of his estate and effects situated in the Colony for or in respect of which probate or letters of administration is or are to be granted or whereof an inventory is to be exhibited and recorded.

(9.) Subject to the provisions of this Ordinapec, 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.

Governor-in- 5. In any case where the Governor-in-Council may be Conncil may satisfied that it is inconvenient and unnecessary for a com- anthorize duplicate pany to keep its register of members at its registered office registers in he may in writing under the hand of the Colonial Secretary certain cases, authorize such company to keep at such office only a duplicate register or registers: and from the date of such authorization the register of members kept at the head office of such company shall be deemed to be the register of members under the Principal Ordinance and the com- pany shall be deemed to have complied with the provisions of the Principal Ordinance with regard to registers of members if such register is duly kept under the provisions of the Principal Ordinance: Provided always that such a company shall forthwith file in the office of the Registrar of Compaules a copy of such authorization.