ORDINANCE No. 1 of 1865.
Companies, &c.
No. 1 of 1865.
An Ordinance for the Incorporation, Regulation, and Winding-up Title.
of Trading Companies and other Associations.
[4th March, 1865.]
WHEREAS it is expedient to provide by Ordinance for the
incorporation, regulation, and winding-up of trading companies and other associations: Be it enacted by His Excellency the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:
Preliminary.
679
[See Ords. Nos. 2 & 3 of 1866, No. 1 of 1877, No. 14 of 1881, No. 3 of 1883, No. 30 of 1886.]
Preamble.
1. This Ordinance may be cited for all purposes as "The Companies Ordinance 1865."
2. This Ordinance shall come into operation on the first day of May, one thousand eight hundred and sixty-five, and the time at which it so comes into operation is hereinafter referred to as the commencement of this Ordinance.
3. For the purposes of this Ordinance a company that carries on the business of insurance in common with any other business or businesses shall be deemed to be an insurance company.
4. No company, association, or partnership consisting of more than ten persons shall be formed, after the commencement of this Ordinance, for the purpose of carrying on the business of banking, 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; and 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 other 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. [Repealed by Ordinance No. 2 of 1866 and new section substituted.]
5. This Ordinance is divided into seven 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 liability of banking companies issuing notes.
Commencement of Ordinance.
Definition of insurance company.
Prohibition of partnerships exceeding certain number.
Division of Ordinance.
ORDINANCE No. 1 of 1865.
Companies, &c.
No. 1 of 1865.
An Ordinance for the Incorporation, Regulation, and Winding-up Title.
of Trading Companies and other Associations.
[4th March, 1865.]
WHEREAS it is expedient to provide by Ordinance for the
incorporation, regulation, and winding-up of trading companies. and other associations: Be it enacted by His Excellency the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:
Preliminary.
679
[See Ords. Nos. 2 & 3 of 1866, No. 1 of 1877, No. 14 of 1881, No. 3. of 1883, No. 30. of 1886.]
Preamble.
1. This Ordinance may be cited for all purposes as "The Companies Short title. Ordinance 1865."
2. This Ordinance shall come into operation on the first day of May, one thousand eight hundred and sixty-five, and the time at which it so comes into operation is hereinafter referred to as the commencement of this Ordinance.
3. For the purposes of this Ordinance a company that carries on the business of insurance in common with any other business or businesses shall be deemed to be an insurance company.
4. No company, association, or partnership consisting of more than ten persons shall be formed, after the commencement of this Ordinance, for the purpose of carrying on the business of banking, 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 Pateut; and 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 other 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. [Repealed by Ordinance No. 2 of 1866 and new section substituted.]
5. This Ordinance is divided into seven 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 liability of banking companies issuing notes.
Commence- ment of Ordinance.
Definition of insurance company.
Prohibition of partnerships exceeding certain number.
Division of Ordinance.
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