1964_COMPANIES_ORDINANCE — Page 289

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1984 Ed.]

Companies

[CAP. 32

361

(14) The basis on which other currencies have been converted into the currency in which the balance sheet is expressed, where the amount of the assets or liabilities affected is material.

(15) The basis on which the amount, if any set aside for Hong Kong profits tax is computed.

(16) Except in the case of the first balance sheet laid before the company after Ist October 1975, the corresponding amounts at the end of the immediately preceding financial year for all items shown in the balance sheet other than any item the amount for which is shown----

(a) in pursuance of sub-paragraph (8), or

(b) as an amount the source or application of which is required by paragraph 7

to be shown.

Profit and Loss Account

13. (1) There shall be shown---

(a) the amount charged to revenue by way of provision for depreciation,

renewals or diminution in value of fixed assets;

interest

(b) the amount of the interst on loans of the following kinds made to the company (whether on the security of debentures or not), namely, bank loans, overdrafts and loans which, not being bank loans or overdrafts.--

(i) are repayable otherwise than by instalments and fall due for repay- ment before the expiration of the period of 5 years beginning with the day next following the expiration of the financial year; or

(ii) are repayable by instalments the last of which falls due for payment before the expiration of that period;

and the amount of the interest on loans of other kinds so made (whether on the security of debentures or not);

(e) the amount of the charge to revenue for taxes imposed by the Inland Revenue Ordinance and, if that amount would have been greater but for relief from double taxation, the amount which it would have been but for such relief, and the amount of the charge for taxation imposed outside Hong Kong of profits, income and (so far as charged to revenue) capital gains;

(d) the amounts respectively provided for redemption of share capital and for

redemption of loans:

(e) the amount, if material, set aside or proposed to be set aside to, or

withdrawn from, reserves;

(ƒ) subject to sub-paragraph (2), the amount, if material, set aside to provisions other than provisions for depreciation, renewals or diminution in value of assets or, as the case may be, the amount, if material, withdrawn from such provisions and not applied for the purposes thereof:

(g) the amounts respectively of income from listed investments and income

from unlisted investments; (Amended, 6 of 1984, s. 259;

(h) if a substantial part of the company's revenue for the financial year consists in rents from land and buildings, the amount thereof (after deduction of ground-rents. rates and other out-goings);

(i) the amount, if material, charged to revenue in respect of sums payable in

respect of the hire of plant and machinery;

(j) the aggregate amount of the dividends paid and proposed.

(2) The Financial Secretary may direct that a company shall not be obliged to show an amount set aside to provisions in accordance with sub-paragraph (1)(f), if he is satisfied that that is not required in the public interest and would prejudice the company, but subject to the condition that any heading stating an amount arrived at after taking into account the amount set aside as aforesaid shall be so framed or marked as to indicate that fact.

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