Registrar-Generals-Department-Annual-report-1962-1963 — Page 26

companies had become rather bulky owing to the annual additions of the statutory returns and other documents. In order to reduce the bulk of these files it was decided to remove all Annual Returns except those for the last two years, and a start was made on this work during the year.

The old Returns are of course retained in separate files and may also be inspected if desired.

61. Although under no statutory obligation to do so, the Companies Registry sends reminders in respect of failures to file Annual Returns and other documents within the prescribed periods, and annually publishes advertisements calling attention to the statutory requirements. Notwithstanding these reminders five companies failed to file documents and in consequence five prosecutions

were instituted and fines ranging from $25 to $500 were imposed on the companies concerned or their directors. During the year the Companies Registry prepared a pamphlet entitled 'Notes on certain provisions of the Companies Ordinance with special reference to documents which have to be filed in the Companies Registry', and as from January 1963 a copy of this is supplied free of charge on the incorporation of every company. A copy is also supplied free on request to any company wanting one.

62. 178 companies increased their nominal capital by amounts totalling $593,913,000, on which fees of $1,187,826 were paid. 43 com- panies changed their names by special resolution and with the approval of the Governor given by the Registrar of Companies under delegated powers. One licence to keep a branch Share Register was granted under Section 103 of the Ordinance.

63. 643 charges were registered by companies securing a total of $548,739,727 and 295 certificates of satisfaction were submitted in respect of charges totalling $178,824,288. There was therefore an increase of nearly $370,000,000 in the amounts of charges subsisting. This does not necessarily mean that the amount actually owed by companies and secured by charges increased by that sum, because in many cases charges are granted to secure banking facilities, which may not be utilized up to the full amount for which the property is charged.

Companies incorporated outside the Colony

64. Fifty-five companies incorporated outside the Colony established a place of business within the Colony and complied with the provi- sions of Part XI of the Ordinance. At the end of the year there were 493 such companies registered as compared with 449 the year before.

20-