Registrar-Generals-Department-Annual-report-1965-1966 — Page 35

there were 172 individuals and 59 firms on Part I of the List and 147 individuals and 48 firms on Part II. Of these, 115 individuals and 45 firms were on both Parts. Out of the 172 accountants on Part I of the List 124 were Chinese.

Companies Law Revision Committee

93. The Companies Law Revision Committee, of which the Regis- trar General is the Chairman, was appointed by the Governor in 1962 to make recommendations as to the revision of the Company legisla- tion of Hong Kong, and in particular as to whether legislation for prevention of fraud in relation to investments is required. On 27th May 1965 the Registrar General announced that the Governor at the Registrar General's request had ordered that the work of the Committee should be suspended pending the enactment of legislation in Britain following upon the Jenkins Report. The Registrar General explained that although a considerable amount of work had been done by the Committee, extreme pressure of other work in the Department had been holding up further progress. It was not expected that new legisla- tion in Britain could be introduced before the autumn at the earliest and it was felt advantageous to await U.K. legislation before giving further consideration to amendment of the Hong Kong Ordinance.

Fees

94. The total of all fees collected by the Companies Registry under all Ordinances was $2,903,847, a reduction of more than $2,000,000 compared with the previous year's total, which was, however, excep- tionally high. This year's total was made up as follows (with the previous year's figures for comparison):

Fees on incorporation of new companies ($100 plus $2 for every $1,000 of nominal capital)

Other fees under the Companies Ordinance and Orders made thereunder

1964-65

1965-66

$2,888,400

$1,531,539

$2,093,018

$1,357,857

Fees for Money-Lenders Licences,

etc.

$

11,000

$ 14,050

Miscellaneous other Fees

$

1,353

$

401

$4,993,771

$2,903,847

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