the-ordinances-of-the-legislative-counci-1890v3 — Page 313

1596 ORDINANCE No. 14 OF 1881 .


Companies.


No. 14 of 1881.
[See Ordi
nances No. 1 An Ordinance entitled the " Companies Ordinance, 1881."
of 1865, Nos.
2 & 3 of 1866, [ 29th August, 1881. ]
No. 1 of 1877,
No. 3 of 1883,
No. 30 of1886 E it enacted by the Governor of Hongkong , with the advice of the
& No. 25 of BE
Legislative Council thereof, as follows :
1890.]
Ordinance 1. This Ordinance shall not apply to banking companies .
not to apply
to banks.
Ordinance to 2. This Ordinance shall so far as is consistent with the tenor thereof
be construed
with the be construed as one with the Companies Ordinance, 1865 , the Companies
Companies
Ordinances Ordinance, 1866 , and the Companies Ordinance , 1877 , and those Ordi
1865 , 1866 and
1867. nances together with this Ordinance may be referred to as the Companies
Ordinances 1865 to 1881 .

Registration 3. Subject as in this Ordinance mentioned any company registered
anew of com
pany with before or after the passing of this Ordinance as an unlimited company
limited liabi
lity. may register under the Companies Ordinances 1865 to 1881 as a limited

company , or any company already registered as a limited company may
re-register under the provisions of this Ordinance.
The registration of an unlimited company as a limited company in
pursuance of this Ordinance shall not affect or prejudice any debts , liabi
lities , obligations or contracts incurred or entered into by, to, with , or on
behalf of such company, prior to such registration as aforesaid , and such
debts , liabilities , contracts and obligations may be enforced in manner
provided by the Companies Ordinance, 1866 , in the case of a company
registering in pursuance of that Ordinance or otherwise.
Rese ve
4. An unlimited company may by the resolution passed by the
capital of
company how members when assenting to registration as a limited company under the
plovi led.
Companies Ordinances 1865 to 1880 , and for the purpose of such regis
tration or otherwise increase the nominal amount of its capital by increas
ing the nominal amount of each of its shares.

Provided that no part of such increased capital shall be capable of
being called up, except in the event of and for the purposes of the com
pany being wound up.
And , in cases where no such increase of nominal capital may be
resolved upon , an unlimited company may , by such resolution as afore
said, provide that a portion of its uncalled capital shall not be capable of
being called up except in the event of and for the purposes of the com
pany being wound up.