Registrar-Generals-Department-Annual-report-1967-1968 — Page 32

to the new record figure of 25,599, representing a 5% increase over the figure for 1966-67.

77. 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-eight companies failed to file documents, and were prosecuted in consequence. The fines imposed included fines of from $100 to $500 on six of the companies and five 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.

78. 157 companies increased their nominal capital by amounts totalling $213,417,000, on which fees of $426,834 were paid.

79. 116 companies changed their names by special resolution and with the approval of the Governor given by the Registrar General or Assistant Registrar General under delegated powers. One of the main reasons for such changes is that, as mentioned in paragraph 72, com- panies are incorporated by solicitors and others to be held in stock' for issue to clients when required. The clients then choose a name to their liking and have the old name changed. Similarly the names of real estate companies are often changed when control passes from one syndicate to another.

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

81. 664 charges were registered by companies securing a total of $361,688,412, and 865 certificates of satisfaction were submitted in respect of charges totalling $233,267,176. There was therefore an increase of over $128m. in the amounts of charges subsisting. This does not 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. The numbers and amounts of charges and certificates of satisfaction registered have varied over the past five years as follows:

26