Registrar-Generals-Department-Annual-report-1965-1966 — Page 30

73. 163 companies were dissolved during the year as follows:

By Members' Voluntary Winding-up

By Creditors' Voluntary Winding-up Struck off the Register under Section 276

68

1

94

163

Table XII gives an analysis according to the nature of business of the 163 companies dissolved or removed from the register during the year and also of the aggregate total of 597 for the five years ended 31st March 1966. The main casualties were as usual in import and export companies, which lost 53. Shipping companies lost 16, restaurant and night clubs 11, and land investment companies 13.

74. With 1,286 new companies, and 163 dissolutions, there was a net increase of 1,123 in the number of companies on the register, which on 31st March 1966 stood at 9,761, comprising 695 public companies and 9,066 private companies.

75. The number of documents received for filing and of inspection of files by the public rose to the new record figures of 27,955 documents received and 20,808 inspections made. This was more than double the number of documents received and almost four times the number of inspections made five years ago in 1960-61.

76. 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 every year publishes advertisements calling attention to the statutory requirements. Notwithstanding these reminders forty-one companies failed to file documents, and in consequence forty-one prosecutions were instituted. Fines ranging from $50 to $1,500 were imposed on twenty-two of the companies concerned or their directors. On the incorporation of every new company the Companies Registry supplies it with 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'. A copy is also supplied free of charge to any company that asks for one.

77. 229 companies increased their nominal capital by amounts total- ling $586,361,500, on which fees of $1,172,723 were paid. 97 companies changed their names by special resolution and with the approval of the Governor given by the Registrar of Companies under delegated powers.

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