Registrar-Generals-Department-Annual-report-1956-1957 — Page 19

MARINE DEPARTMENT LIBRARY

under which the fees payable on registration of a company a registration fee of $100, plus an ad valorem fee at the rate of $2.00 per $1,000 of the amount of the nominal share capital, the former maximum limit of $500 being abolished. The figures for this year show collection of revenue for the full 12 months at the new rate, as against 10 months in the previous year. The comparative figures for 1955/56 and 1956/57 are as follows:

Companies Registration fees

Licences for Local or Branch Registers. Money-Lenders' Licences

1956/57.

$855,666.32

1955/56. $518,149.70

587.68 4,000,00

583.36

5,500.00

$860,254.00

$524,233.06

Authorized Auditors Board and Authorized List of Auditors.

Authorized Auditors Board.

28. The Authorized Auditors Board was established by the Companies (Amendment) Ordinance, 1952, which Ordinance with the Companies (Amendment) Ordinance, 1955, enacted, inter alia, the present Section 131(3)(a) to (f) and Sections 131A to H of the Companies Ordinance, where in the composi- tion, powers and duties of the Board are clearly defined.

Composition.

The Board consists of ten members, namely, the Registrar of Companies (Chairman), the Accountant General, and the Com- missioner of Inland Revenue as ex officio members, a Legal Adviser, and six other members appointed by the Governor, of whom one is the Secretary for Chinese Affairs and the remain- ing five are practising auditors on the authorized list.

Powers & Duties.

The Board is the responsible authority for dealing with and adjudicating upon all applications for admission to the Authorized List, and it also acts as a disciplinary tribunal with power to order the removal of a name from the List, either permanently or for such period as it may think fit, or to order a reprimand.

Authorized List.

29. The Authorized List, kept by the Registrar of Com- panies under Section 131(3)(a) of the Companies Ordinance, is

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