1890_COMPANIES_ORDINANCE__1877 — Page 1

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ORDINANCE No. 1 of 1877.

Companies.

No. 1 of 1877.

An Ordinance to amend "The Companies Ordinance, 1865," and to repeal Ordinance No. 4 of 1876.

[21st June, 1877.]

1443

WHEREAS it is expedient to extend to all companies limited by shares and registered in the Colony the power of sub-dividing their shares, and to amend "The Companies Ordinance, 1865;" Be it enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:-

[See Ordinances No. 1 of 1865, Nos. 2 & 3 of 1866, No. 14 of 1883, No. 30 of 1886.]

1. Ordinance No. 4 of 1876 is hereby repealed.

2. This Ordinance may be cited as "The Companies Ordinance, 1877."

3. "The Companies Ordinance, 1865," is hereinafter referred 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 1877;" and this Ordinance shall, so far as is consistent with the tenor thereof, be construed as one with the principal Ordinance; and the expression "This Ordinance" in the principal Ordinance, and any expression referring to the principal Ordinance, which occurs in any Ordinance, or other document, shall be construed to mean the principal Ordinance as amended by this Ordinance.

Unlimited liability of directors.

Ordinance No. 4 of 1876 repealed.

Short title.

Ordinance to be construed as one with No. 1 of 1865.

[30 & 31 Vic. c. 131 s. 2.]

Company may have directors with unlimited liability.

4. Where after the commencement of this Ordinance a company is formed as a limited company under the principal Ordinance, the liability of the directors or managers of such company, or the managing director, may, if so provided by the memorandum of association, be unlimited.

[sec. 4.]

5. The following modifications shall be made in the thirty-seventh section of the principal Ordinance, with respect to the contributions to be required in the event of the winding-up of a limited company under the principal Ordinance, from any director or manager whose liability is, in pursuance of this Ordinance, unlimited:

[sec. 5.]

(1.) Subject to the provisions hereinafter contained, a director or manager, whether past or present, shall, in such

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ORDINANCE No. 1 of 1877. Companies. No. 1 of 1877. An Ordinance to amend "The Companies Ordinance, 1865," and to repeal Ordinance No. 4 of 1876. [21st June, 1877.] 1443 WHEREAS it is expedient to extend to all companies limited by shares and registered in the Colony the power of sub-dividing their shares, and to amend "The Companies Ordinance, 1865;" Be it enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:- [See Ordinances No. 1 of 1865, Nos. 2 & 3 of 1866, No. 14 of 1883, No. 30 of 1886.] 1. Ordinance No. 4 of 1876 is hereby repealed. 2. This Ordinance may be cited as "The Companies Ordinance, 1877." 3. "The Companies Ordinance, 1865," is hereinafter referred 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 1877;" and this Ordinance shall, so far as is consistent with the tenor thereof, be construed as one with the principal Ordinance; and the expression "This Ordinance" in the principal Ordinance, and any expression referring to the principal Ordinance, which occurs in any Ordinance, or other document, shall be construed to mean the principal Ordinance as amended by this Ordinance. Unlimited liability of directors. Ordinance No. 4 of 1876 repealed. Short title. Ordinance to be construed as one with No. 1 of 1865. [30 & 31 Vic. c. 131 s. 2.] Company may have directors with unlimited liability. 4. Where after the commencement of this Ordinance a company is formed as a limited company under the principal Ordinance, the liability of the directors or managers of such company, or the managing director, may, if so provided by the memorandum of association, be unlimited. [sec. 4.] 5. The following modifications shall be made in the thirty-seventh section of the principal Ordinance, with respect to the contributions to be required in the event of the winding-up of a limited company under the principal Ordinance, from any director or manager whose liability is, in pursuance of this Ordinance, unlimited: [sec. 5.] (1.) Subject to the provisions hereinafter contained, a director or manager, whether past or present, shall, in such

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ORDINANCE No. 1 or 1877. Companies. No. 1 of 1877. An Ordinance to amend "The Companies Ordinance, 1865," Title. and to repeal Ordinance No. 4 of 1876. [21st June, 1877.] 1443 WHEREAS it is expedient to extend to all companies limited by Preamble, shares and registered in the Colony the power of sub-dividing [See Ordi- nances No. 1 of 1865, Nos. 2 &3 of 1866, No. 14 of 1883, No. 30 of 1886.] their shares, and to amend "The Companies Ordinance, 1865;" Be it enacted by the Governor of Hongkong, with the advice of the Legislative 1881, No. 3 of Council thereof, as follows:- 1. Ordinance No. 4 of 1876 is hereby repealed. 2. This Ordinance may be cited as "The Companies Ordinance, 1877." 3. "The Companies Ordinance, 1865," is hereinafter referred 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 1877;" and this Ordinance shall, so far as is consistent with the tenor thereof, be construed as one with the principal Ordinance; and the expression "This Ordinance" in the principal Ordinance, and any expression referring to the principal Ordinance, which occurs in any Ordinance, or other document, shall be construed to mean the principal Ordinance as amended by this Ordinance. Unlimited liability of directors. ? Ordinance No. 4 of 1876 repealed. Short title. Ordinance to be construed as one with No. 1 of 1865.. [30 & 31 Vic. c. 131 s. 2.] Company may have directors with unlimited 4. Where after the commencement of this Ordinance a company is formed as a limited company under the principal Ordinance, the liability of the directors or managers of such company, or the managing liability. director, may, if so provided by the memorandum of association, be unlimited. [sec. 4.] director, past and present, where 5. The following modifications shall be made in the thirty-seventh Liability of section of the principal Ordinance, with respect to the contributions to be required in the event of the winding-up of a limited company under the liability is principal Ordinance, from any director or manager whose liability is, in pursuance of this Ordinance, unlimited: unlimited. [sec. 5.] (1.) Subject to the provisions hereinafter contained, a director or manager, whether past or present, shall, in such

2026-05-02 14:44:24 · Baseline

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ORDINANCE No. 1 or 1877.

Companies.

No. 1 of 1877.

An Ordinance to amend "The Companies Ordinance, 1865," Title.

and to repeal Ordinance No. 4 of 1876.

[21st June, 1877.]

1443

WHEREAS it is expedient to extend to all companies limited by Preamble,

shares and registered in the Colony the power of sub-dividing

[See Ordi- nances No. 1 of 1865, Nos. 2 &3 of 1866, No. 14 of

1883, No. 30 of 1886.]

their shares, and to amend "The Companies Ordinance, 1865;" Be it enacted by the Governor of Hongkong, with the advice of the Legislative 1881, No. 3 of Council thereof, as follows:-

1. Ordinance No. 4 of 1876 is hereby repealed.

2. This Ordinance may be cited as "The Companies Ordinance, 1877."

Unlimited liability of directors.

Ordinance No. 4 of 1876 repealed.

Short title.

Ordinance to be construed as one with

No. 1 of 1865..

[30 & 31 Vic.

c. 131 s. 2.]

Company

may have directors with unlimited

4. Where after the commencement of this Ordinance a company is formed as a limited company under the principal Ordinance, the liability of the directors or managers of such company, or the managing liability. director, may, if so provided by the memorandum of association, be unlimited.

[sec. 4.]

director, past and present, where

5. The following modifications shall be made in the thirty-seventh Liability of section of the principal Ordinance, with respect to the contributions to be required in the event of the winding-up of a limited company under the liability is principal Ordinance, from any director or manager whose liability is, in pursuance of this Ordinance, unlimited:

unlimited. [sec. 5.]

(1.) Subject to the provisions hereinafter contained, a

director or manager, whether past or present, shall, in

such

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