preparation was relatively simple. The Index, which is based on data supplied by the Rating and Valuation Department, and information contained in the Land Office records, up to and including 31st March 1961, is published in two Parts, Part I for lots in Hong Kong and Part II for lots in Kowloon and New Kowloon. The price is $75 per volume.
Fees
30. Due to the record number of instruments registered, the total of Land Office fees collected during the year, namely $803,394, was also the highest ever. The details are:
Deeds registration and Miscellaneous Crown leases
Apportionment of Crown Rents
$791,978
8.338
3,078
$803,394
PART III
COMPANIES REGISTRY
Companies Registration
31. 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.
32. Although the future was somewhat clouded by the uncertainties about what would be the effect on Hong Kong if the United Kingdom entered the Common Market, and by fears of further restrictions on the import of Hong Kong goods into various countries, by and large the Colony had another prosperous year, and once again many new businesses were established and new enterprises undertaken. As noted last year, Chinese business men are gradually breaking away from the old system of Chinese partnerships and becoming more and more 'company minded'. In fact, nowadays most new businesses of any magnitude are from the beginning organized as limited companies. In addition, many old partnerships find it convenient to convert their business into a limited company. This process is accelerating, but that there is still a lot of scope for such conversions is shown by the fact that the lists of awards of contracts by the Colonial Secretariat Tender Board usually contain the names of many more unincorporated firms than of limited companies. For instance, the list published in G.N. 574 of 16th March 1962, chosen at random, contains 43 firms (including
12
No comments yet.
Private notes are available after approval.