CAP. 32]
Companies.
[s. 146 cont.]
9 of 1950, Schedule.
(Cap. 112).
22 of 1950, Schedule.
Disclosure by directors
with the management of the affairs of the company, and there shall, in respect of any such director who is—
(a) a director of any other company which is in relation to the first-mentioned company a subsidiary company; or
(b) by virtue of the nomination, whether direct or indirect, of the company a director of any other company;
be included in the said aggregate amount any remuneration or other emoluments received by him for his own use whether as a director of, or otherwise in connexion with the management of the affairs of, that other company:
Provided that-
(a) a demand for a statement under this section shall be of no effect if the company within one month after the date on which the demand is made resolve that the statement shall not be furnished; and
(b) it shall be sufficient to state the total aggregate of all sums paid to or other emoluments received by all the directors in each year without specifying the amount received by any individual.
(2) In computing for the purpose of this section the amount of any remuneration or emoluments received by any director, the amount actually received by him shall, if the company has paid on his behalf any sum by way of income tax (including super-tax and sur-tax) or any tax imposed by the Inland Revenue Ordinance in respect of the remuneration or emoluments, be increased by the amount of the sum so paid.
(3) If any director fails to comply with the requirements of this section, he shall be liable to a fine of two thousand dollars.
(4) In this section the expression emoluments includes fees, percentages and other payments made or consideration given, directly or indirectly, to a director as such, and the money value of any allowances or perquisites belonging to his office.
[147
147. (1) Subject to the provisions of this section, it shall be the duty of a director of a company who is in any way, 19 & 20 Geo. 5, whether directly or indirectly, interested in a contract or
of interest in contracts.
c. 23, s. 149.
110
CAP. 32]
Companies.
[s. 146 cont.]
9 of 1950, Schedule.
(Cap. 112).
22 of 1950, Schedule.
Disclosure by directors
with the management of the affairs of the company, and there shall, in respect of any such director who is—
(a) a director of any other company which is in relation to the first-mentioned company a subsidiary com- pany; or
(b) by virtue of the nomination, whether direct or in- direct, of the company a director of any other
company;
be included in the said aggregate amount any remuneration or other emoluments received by him for his own use whether as a director of, or otherwise in connexion with the management of the affairs of, that other company:
Provided that-
(a) a demand for a statement under this section shall be of no effect if the company within one month after the date on which the demand is made resolve that the statement shall not be furnished; and (b) it shall be sufficient to state the total aggregate of all sums paid to or other emoluments received by all the directors in each year without specifying the amount received by any individual.
(2) In computing for the purpose of this section the amount of any remuneration or emoluments received by any director, the amount actually received by him shall, if the company has paid on his behalf any sum by way of income. tax (including super-tax and sur-tax) or any tax imposed by the Inland Revenue Ordinance in respect of the remuneration or emoluments, be increased by the amount of the sum so paid.
(3) If any director fails to comply with the requirements of this section, he shall be liable to a fine of two thousand dollars.
(4) In this section the expression emoluments includes fees, percentages and other payments made or consideration given, directly or indirectly, to a director as such, and the money value of any allowances or perquisites belonging to his office.
[147
147. (1) Subject to the provisions of this section, it shall be the duty of a director of a company who is in any way, 19 & 20 Geo. 5, whether directly or indirectly, interested in a contract or
of interest
in contracts.
c. 23, s. 149.
110
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