Registrar-Generals-Department-Annual-report-1959-1960 — Page 15

PART III

COMPANIES REGISTRY

Companies Registration

22. The Companies Ordinance (Cap. 32) is based on the Companies Act, 1929, formerly in force in Great Britain but now replaced by the Companies Act, 1948.

23. In view of the increase in the Colony's trade, the continued building boom, and the opening of many new factories and other businesses, it is not surprising that the number of companies incor- porated during the year was the highest number ever incorporated in one year. In all, 491 companies were incorporated, 469 with a share capital and twenty two without. Part I of Table VII gives an analysis of the 469 companies according to the nature of their business and the amount of their nominal capital, the grand total of which was $342,423,675. Part II of the same Table gives an analysis of the other twenty two companies (which are limited by guarantee) according to the nature of their objects. Fifteen of these were granted licences under Section 21 of the Ordinance to dispense with the word 'Limited' in their

names.

24. For purposes of comparison Table VIII gives an analysis of companies registered in the last five years according to the amounts of their nominal capital.

25. Eighty one companies having been dissolved during the year as follows:

By Members' Voluntary Winding-up

By Creditors' Voluntary Winding-up

Struck off the Register under Section 276

36

2

43

81

the number of companies on the Register at 31st March, 1960 was 3,732, as against 3,322 for the previous year.

26. One licence to keep a branch Share Register was granted under Section 103 of the Ordinance.

Foreign Companies

27. Thirty six foreign companies, nine of which were American and six Singapore, established a place of business within the Colony and complied with the provisions of Part XI of the Ordinance. At the end

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